PulteGroup (PHM) 10-K 7 Feb 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($)	12 Months Ended
	Dec. 31, 2017	Feb. 01, 2018	Jun. 30, 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-K
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		286,465,036
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 7,393,482,685

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
ASSETS
Cash and equivalents	$ 272,683	$ 698,882
Restricted cash	33,485	24,366
Total cash, cash equivalents, and restricted cash	306,168	723,248
House and land inventory	7,147,130	6,770,655
Land held for sale	68,384	31,728
Residential mortgage loans available-for-sale	570,600	539,496
Investments in unconsolidated entities	62,957	51,447
Other assets	745,123	857,426
Intangible assets	140,992	154,792
Deferred tax assets, net	645,295	1,049,408
Total assets	9,686,649	10,178,200
Liabilities:
Accounts payable, including book overdrafts of $72,800 and $99,690 in 2017 and 2016, respectively	393,815	405,455
Customer deposits	250,779	187,891
Accrued and other liabilities	1,356,333	1,429,712
Income tax liabilities	86,925	34,860
Financial Services debt	437,804	331,621
Notes payable	3,006,967	3,129,298
Total liabilities	5,532,623	5,518,837
Shareholders’ equity:
Preferred shares, $0.01 par value; 25,000,000 shares authorized, none issued	0	0
Common shares, $0.01 par value; 500,000,000 shares authorized, 286,752,436 and 319,089,720 shares issued and outstanding at December 31, 2017 and 2016, respectively	2,868	3,191
Additional paid-in capital	3,171,542	3,116,490
Accumulated other comprehensive loss	(445)	(526)
Retained earnings	980,061	1,540,208
Total shareholders’ equity	4,154,026	4,659,363
Total liabilities and shareholders' equity	$ 9,686,649	$ 10,178,200

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Book overdrafts	$ 72,780	$ 99,690
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	286,752,436	319,089,720
Common stock, shares outstanding	286,752,436	319,089,720

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Homebuilding
Home sale revenues	$ 8,323,984	$ 7,451,315	$ 5,792,675
Land sale revenues	57,106	36,035	48,536
Total homebuilding revenues	8,381,090	7,487,350	5,841,211
Financial Services	192,160	181,126	140,753
Total revenues	8,573,250	7,668,476	5,981,964
Homebuilding Cost of Revenues:
Home sale cost of revenues	(6,461,152)	(5,587,974)	(4,235,945)
Land sale cost of revenues	(134,449)	(32,115)	(35,858)
Total cost of revenues	(6,595,601)	(5,620,089)	(4,271,803)
Financial Services expenses	(119,289)	(108,573)	(82,047)
Selling, general, and administrative expenses	(891,581)	(957,150)	(794,728)
Other expense, net	(27,951)	(48,814)	(17,363)
Income before income taxes	938,828	933,850	816,023
Income tax expense	(491,607)	(331,147)	(321,933)
Net income	$ 447,221	$ 602,703	$ 494,090
Net income per share:
Basic (usd per share)	$ 1.45	$ 1.76	$ 1.38
Diluted (usd per share)	1.44	1.75	1.36
Cash dividends declared (usd per share)	$ 0.36	$ 0.36	$ 0.33
Number of shares used in calculation:
Basic shares outstanding (shares)	305,089	339,747	356,576
Effect of dilutive securities (shares)	1,725	2,376	3,217
Diluted shares outstanding (shares)	306,814	342,123	359,793

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 447,221	$ 602,703	$ 494,090
Other comprehensive income, net of tax:
Change in value of derivatives	81	83	81
Other comprehensive income	81	83	81
Comprehensive income	$ 447,302	$ 602,786	$ 494,171

Consolidated Statements Of Shar

Consolidated Statements Of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]
Shareholders' Equity, shares at Dec. 31, 2014		369,459,000
Shareholders' Equity at Dec. 31, 2014	$ 4,804,954	$ 3,695	$ 3,072,996	$ (690)	$ 1,728,953
Stock option exercises, shares		904,000
Stock option exercises	10,534	$ 9	10,525	0	0
Share issuances, net of cancellations, shares		428,000
Share issuances, net of cancellations	7,424	$ 4	7,420
Dividends declared	117,873		8		117,881
Share repurchases, shares		(21,642,000)
Share repurchases	(442,738)	$ (217)			(442,521)
Share-based compensation	16,888	$ 0	16,888	0	0
Excess tax benefits (deficiencies) from share-based compensation	(14,035)		(14,035)
Net income	494,090				494,090
Other comprehensive income	81			81
Shareholders' Equity, shares at Dec. 31, 2015		349,149,000
Shareholders' Equity at Dec. 31, 2015	4,759,325	$ 3,491	3,093,802	(609)	1,662,641
Stock option exercises, shares		498,000
Stock option exercises	5,845	$ 5	5,840	0	0
Share issuances, net of cancellations, shares		530,000
Share issuances, net of cancellations	8,856	$ 5	8,851
Dividends declared	122,240		0		122,240
Share repurchases, shares		(31,087,000)
Share repurchases	(603,206)	$ (310)			(602,896)
Share-based compensation	18,626	$ 0	18,626	0	0
Excess tax benefits (deficiencies) from share-based compensation	(10,629)		(10,629)
Net income	602,703				602,703
Other comprehensive income	$ 83			83
Shareholders' Equity, shares at Dec. 31, 2016	319,089,720	319,090,000
Shareholders' Equity at Dec. 31, 2016	$ 4,659,363	$ 3,191	3,116,490	(526)	1,540,208
Stock option exercises, shares		2,352,000
Stock option exercises	27,720	$ 24	27,696	0	0
Cumulative Effect on Retained Earnings, Net of Tax	18,238		(406)		18,644
Share issuances, net of cancellations, shares		730,000
Share issuances, net of cancellations	3,565	$ 10	3,555
Dividends declared	110,046		0		110,046
Share repurchases, shares		(35,420,000)
Share repurchases	(916,323)	$ (357)			(915,966)
Share-based compensation	24,207	$ 0	24,207	0	0
Net income	447,221				447,221
Other comprehensive income	$ 81			81
Shareholders' Equity, shares at Dec. 31, 2017	286,752,436	286,752,000
Shareholders' Equity at Dec. 31, 2017	$ 4,154,026	$ 2,868	$ 3,171,542	$ (445)	$ 980,061

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income	$ 447,221	$ 602,703	$ 494,090
Adjustments to reconcile net income to net cash from operating activities:
Deferred income tax expense	422,307	334,787	311,699
Land-related charges	191,913	19,357	11,467
Depreciation and amortization	50,998	54,007	46,222
Share-based compensation expense	33,683	22,228	24,752
Loss on debt retirements	0	657	0
Other, net	(1,789)	1,614	(4,865)
Increase (decrease) in cash due to:
Inventories	(569,030)	(897,092)	(917,298)
Residential mortgage loans available-for-sale	(33,009)	(99,527)	(104,609)
Other assets	55,099	(45,721)	(175,150)
Accounts payable, accrued and other liabilities	65,684	75,257	(23,898)
Net cash provided by (used in) operating activities	663,077	68,270	(337,590)
Cash flows from investing activities:
Capital expenditures	(32,051)	(39,295)	(45,440)
Investment in unconsolidated subsidiaries	(23,037)	(14,539)	(454)
Cash used for business acquisition	0	(430,458)	0
Other investing activities, net	4,846	13,100	11,330
Net cash used in investing activities	(50,242)	(471,192)	(34,564)
Cash flows from financing activities:
Proceeds from debt issuance	0	1,995,937	498,087
Repayments of debt	(134,747)	(986,919)	(239,193)
Borrowings under revolving credit facility	2,720,000	619,000	125,000
Repayments under revolving credit facility	(2,720,000)	(619,000)	(125,000)
Financial Services borrowings, net	106,183	63,744	127,636
Stock option exercises	27,720	5,845	10,535
Share repurchases	(916,323)	(603,206)	(442,738)
Dividends paid	(112,748)	(124,666)	(115,958)
Net cash provided by (used in) financing activities	(1,029,915)	350,735	(161,631)
Net increase (decrease)	(417,080)	(52,187)	(533,785)
Cash, cash equivalents, and restricted cash at beginning of period	723,248	775,435	1,309,220
Cash, cash equivalents, and restricted cash at end of period	306,168	723,248	775,435
Supplemental Cash Flow Information:
Interest paid (capitalized), net	(942)	(26,538)	(4,193)
Income taxes paid (refunded), net	$ 14,875	$ 2,743	$ (5,654)

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies Basis of presentation PulteGroup, Inc. is one of the largest homebuilders in the 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 consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles and include the accounts of PulteGroup, Inc. and all of its direct and indirect subsidiaries and variable interest entities in which PulteGroup, Inc. is deemed to be the primary beneficiary. All significant intercompany accounts, transactions, and balances have been eliminated in consolidation. Business acquisitions 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. generally accepted accounting principles 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 Effective with our fourth quarter 2017 reporting, we reclassified limited recourse notes payable to notes payable from accrued and other liabilities and also reclassified certain timing differences between deferred tax assets and deferred tax liabilities. All prior period amounts have been reclassified to conform to the current presentation. Subsequent events We evaluated subsequent events up until the time the financial statements were filed with the Securities and Exchange Commission ("SEC"). Cash and equivalents Cash and equivalents include institutional money market investments and time deposits with a maturity of three months or less when acquired. Cash and equivalents at December 31, 2017 and 2016 also included $80.3 million and $66.5 million , respectively, of cash from home closings held in escrow for our benefit, typically for less than five days, which are considered deposits in-transit. Restricted cash We maintain certain cash balances that are restricted as to their use, including customer deposits on home sales that are temporarily restricted by regulatory requirements until title transfers to the homebuyer. Total cash, cash equivalents, and restricted cash includes restricted cash balances of $33.5 million and $24.4 million at December 31, 2017 and 2016 , respectively. Investments in unconsolidated entities We have investments in a number of unconsolidated entities, including joint ventures, with independent third parties. The equity method of accounting is used for unconsolidated entities over which we have significant influence; generally this represents ownership interests of at least 20% and not more than 50%. Under the equity method of accounting, we recognize our proportionate share of the earnings and losses of these entities. Certain of these entities sell land to us. We defer the recognition of profits from such activities until the time we ultimately sell the related land. We evaluate our investments in unconsolidated entities for recoverability in accordance with Accounting Standards Codification (“ASC”) 323, “Investments – Equity Method and Joint Ventures” (“ASC 323”). If we determine that a loss in the value of the investment is other than temporary, we write down the investment to its estimated fair value. Any such losses are recorded to equity in (earnings) loss of unconsolidated entities, which is reflected in other expense, net. Due to uncertainties in the estimation process and the significant volatility in demand for new housing, actual results could differ significantly from such estimates. See Note 4 . Intangible assets Goodwill, which represents the cost of acquired businesses in excess of the fair value of the net assets of such businesses at the acquisition date, was recorded as the result of the Wieland acquisition and totaled $40.4 million at December 31, 2017 and 2016 . We assess goodwill for impairment annually in the fourth quarter and if events or changes in circumstances indicate the carrying amount may not be recoverable. Intangible assets also include tradenames acquired in connection with the 2016 acquisition of Wieland, the 2009 acquisition of Centex, and the 2001 acquisition of Del Webb, all of which are being amortized over 20 -year lives. The acquired cost and accumulated amortization of our tradenames were $277.0 million and $176.4 million , respectively, at December 31, 2017 , and $277.0 million and $162.6 million , respectively, at December 31, 2016 . Amortization expense totaled $13.8 million , $13.8 million and $12.9 million in 2017 , 2016 , and 2015 , respectively, and is expected to be $13.8 million in 2018, $13.8 million in 2019, $13.8 million in 2020, $10.4 million in 2021, and $5.7 million in 2022. The ultimate realization of these assets is dependent upon the future cash flows and benefits that we expect to generate from their use. We assess tradenames for impairment if events or changes in circumstances indicate the carrying amount may not be recoverable. Property and equipment, net, and depreciation Property and equipment are recorded at cost. Maintenance and repair costs are expensed as incurred. Depreciation is computed by the straight-line method based upon estimated useful lives as follows: model home furniture - two years; office furniture and equipment - three to ten years; and leasehold improvements - life of the lease. Property and equipment are included in other assets and totaled $70.7 million net of accumulated depreciation of $206.5 million at December 31, 2017 and $77.4 million net of accumulated depreciation of $192.9 million at December 31, 2016 . Depreciation expense totaled $37.2 million , $40.2 million , and $33.3 million in 2017 , 2016 , and 2015 , respectively. Advertising costs Advertising costs are expensed to selling, general, and administrative expense as incurred and totaled $45.0 million , $50.7 million , and $45.3 million , in 2017 , 2016 , and 2015 , respectively. Employee benefits We maintain a defined contribution retirement plan that covers substantially all of our employees. Company contributions to the plan totaled $15.7 million , $14.6 million , and $12.6 million in 2017 , 2016 , and 2015 , respectively. Other expense, net Other expense, net consists of the following ($000’s omitted): 2017 2016 2015 Write-offs of deposits and pre-acquisition costs (Note 2) $ 11,367 $ 17,157 $ 5,021 Lease exit and related costs (a) 1,729 11,643 2,463 Amortization of intangible assets (Note 1) 13,800 13,800 12,900 Interest income (2,537 ) (3,236 ) (3,107 ) Interest expense 503 686 788 Equity in (earnings) loss of unconsolidated entities ( Note 4 ) (b) 1,985 (8,337 ) (7,355 ) Miscellaneous, net (c) 1,104 17,101 6,653 Total other expense, net $ 27,951 $ 48,814 $ 17,363 (a) Lease exit and related costs 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 2017 (see Note 2 ). (c) Miscellaneous, net includes a charge of $15.0 million in 2016 related to the settlement of a disputed land transaction and a charge of $20.0 million in 2015 resulting from the Applecross matter (see Note 11 ). 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, 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 of our common shares are considered anti-dilutive and excluded from the diluted earnings per share calculation. Our earnings per share excluded 0.1 million , 1.8 million , and 3.9 million potentially dilutive instruments in 2017 , 2016 , and 2015 , respectively. In accordance with ASC 260 "Earnings Per Share" ("ASC 260"), the two-class method determines earnings per share for each class of common share 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): December 31, 2017 December 31, 2016 December 31, 2015 Numerator: Net income $ 447,221 $ 602,703 $ 494,090 Less: earnings distributed to participating securities (1,192 ) (1,100 ) (755 ) Less: undistributed earnings allocated to participating securities (3,380 ) (3,622 ) (2,448 ) Numerator for basic earnings per share $ 442,649 $ 597,981 $ 490,887 Add back: undistributed earnings allocated to participating securities 3,380 3,622 2,448 Less: undistributed earnings reallocated to participating securities (3,361 ) (3,602 ) (2,429 ) Numerator for diluted earnings per share $ 442,668 $ 598,001 $ 490,906 Denominator: Basic shares outstanding 305,089 339,747 356,576 Effect of dilutive securities 1,725 2,376 3,217 Diluted shares outstanding 306,814 342,123 359,793 Earnings per share: Basic $ 1.45 $ 1.76 $ 1.38 Diluted $ 1.44 $ 1.75 $ 1.36 Share-based compensation We measure compensation cost for restricted shares and restricted share units at fair value on the grant date. Fair value is determined based on the quoted price of our common shares on the grant date. We recognize compensation expense for restricted shares and restricted share units, the majority of which cliff vest at the end of three years , ratably over the vesting period. For share-based awards containing performance conditions, we recognize compensation expense ratably over the vesting period when it is probable that the stated performance targets will be achieved and record cumulative adjustments in the period in which estimates change. Compensation expense related to our share-based awards is included in selling, general, and administrative expense, except for a small portion recognized in Financial Services expenses. See Note 7 . Income taxes The provision for income taxes is calculated using the asset and liability method, under which deferred tax assets and liabilities are recognized by identifying the temporary differences arising from the different treatment of items for tax and accounting purposes. In assessing the realizability of deferred tax assets, we consider whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is primarily dependent upon the generation of future taxable income. In determining the future tax consequences of events that have been recognized in the financial statements or tax returns, judgment is required. Differences between the anticipated and actual outcomes of these future tax consequences could have a material impact on our consolidated results of operations or financial position. 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. We follow the provisions of ASC 740 which prescribes a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. Significant judgment is required to evaluate uncertain tax positions. Our evaluations of tax positions consider a variety of factors, including changes in facts or circumstances, changes in law, correspondence with taxing authorities, and effective settlements of audit issues. Changes in the recognition or measurement of uncertain tax positions could result in material increases or decreases in income tax expense (benefit) in the period in which the change is made. Interest and penalties related to unrecognized tax benefits are recognized as a component of income tax expense (benefit). See Note 8 . Homebuilding revenue recognition Homebuilding revenue and related profit are generally recognized when title to and possession of the property are transferred to the homebuyer. In situations where the homebuyer’s financing is originated by Pulte Mortgage and the homebuyer has not made an adequate initial or continuing investment, the profit on such sale is deferred until the sale of the related loan to a third-party investor has been completed. If there is a loss on the sale of the property, the loss on such sale is recognized at the time of closing. The amount of such deferred profits was not material at either December 31, 2017 or 2016 . Sales incentives When sales incentives involve a discount on the selling price of the home, we record the discount as a reduction of revenue at the time of house closing. If the sales incentive requires us to provide a free product or service to the customer, the cost of the free product or service is recorded as cost of revenues at the time of house closing. This includes the cost related to optional upgrades and seller-paid financing costs, closing costs, homeowners’ association fees, or merchandise. Inventory and cost of revenues Inventory is stated at cost unless the carrying value is determined to not be recoverable, in which case the affected inventory is written down to fair value. Cost includes land acquisition, land development, and home construction costs, including interest, real estate taxes, and certain direct and indirect overhead costs related to development and construction. For those communities for which construction and development activities have been idled, applicable interest and real estate taxes are expensed as incurred. Land acquisition and development costs are allocated to individual lots using an average lot cost determined based on the total expected land acquisition and development costs and the total expected home closings for the community. The specific identification method is used to accumulate home construction costs. We capitalize interest cost into homebuilding inventories. Each layer of capitalized interest is amortized over a period that approximates the average life of communities under development. Interest expense is allocated over the period based on the timing of home closings. Cost of revenues includes the construction cost, average lot cost, estimated warranty costs, and closing costs applicable to the home. Sales commissions are classified within selling, general, and administrative expenses. The construction cost of the home includes amounts paid through the closing date of the home, plus an accrual for costs incurred but not yet paid. Total community land acquisition and development costs are based on an analysis of budgeted costs compared with actual costs incurred to date and estimates to complete. The development cycles for our communities range from under one year to in excess of ten years for certain master planned communities. Adjustments to estimated total land acquisition and development costs for the community affect the amounts costed for the community’s remaining lots. 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. Such indicators include gross margins or sales paces significantly below expectations, construction costs or land development costs significantly in excess of budgeted amounts, significant delays or changes in the planned development for the community, and other known qualitative factors. Communities that demonstrate potential impairment indicators are tested for impairment by comparing the expected undiscounted cash flows for the community to its carrying value. For those communities whose carrying values exceed the expected undiscounted cash flows, we estimate the fair value of the community, and impairment charges are recorded if the fair value of the community's inventory is less than its carrying value. We generally determine the fair value of a community's inventory using a combination of discounted cash flow models and market comparable transactions, where available. These estimated cash flows are significantly impacted by 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 discounted cash flow models are specific to each community. 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 many communities, and potential changes in our strategy related to certain communities, actual results could differ significantly from such estimates. See Note 2 . Land held for sale We periodically elect to sell parcels of land to third parties in the event such assets no longer fit into our strategic operating plans or are zoned for commercial or other development. Land held for sale is recorded at the lower of cost or fair value less costs to sell. In determining the value of land held for sale, we consider recent offers received, prices for land in recent comparable sales transactions, and other factors. We record net realizable value adjustments for land held for sale within Homebuilding land sale cost of revenues. See Note 2 . 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 may serve to reduce 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. See Note 2 . 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 December 31, 2017 or 2016 because we determined that we were not the primary beneficiary. Our maximum exposure to loss related to these VIEs is generally limited to our deposits and pre-acquisition costs under the applicable land option agreements. The following provides a summary of our interests in land option agreements ($000’s omitted): December 31, 2017 December 31, 2016 Deposits and Remaining Purchase Deposits and Remaining Purchase Land options with VIEs $ 78,889 $ 977,480 $ 68,527 $ 849,901 Other land options 129,098 1,485,099 126,909 1,252,662 $ 207,987 $ 2,462,579 $ 195,436 $ 2,102,563 Start-up costs Costs and expenses associated with opening new communities are expensed to selling, general, and administrative expenses as incurred. 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 10 years. We estimate the costs to be incurred under these warranties and record a liability in the amount of such costs at the time revenue is recognized. Self-insured risks We maintain, and require the majority of our subcontractors to maintain, general liability insurance coverage, including coverage for certain construction defects. 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, subject to certain self-insured per occurrence and aggregate retentions, deductibles, and available policy limits. However, we retain a significant portion of the overall risk for such claims. We reserve for these costs 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, which include estimates of claims incurred but not yet reported. Adjustments to estimated reserves are recorded in the period in which the change in estimate occurs. In certain instances, we have the ability to recover a portion of our costs under various insurance policies or from our subcontractors or other third parties. Estimates of such amounts are recorded when recovery is considered probable. See Note 11 . Residential mortgage loans available-for-sale Substantially all of the loans originated by us and their related servicing rights are sold in the secondary mortgage market within a short period of time after origination, generally within 30 days. In accordance with ASC 825, “Financial Instruments” (“ASC 825”), we use the fair value option to record residential mortgage loans available-for-sale. Election of the fair value option for these loans allows a better offset of the changes in fair values of the loans and the derivative instruments used to economically hedge them without having to apply complex hedge accounting provisions. We do not designate any derivative instruments as hedges or apply the hedge accounting provisions of ASC 815, “Derivatives and Hedging.” See Note 11 for discussion of the risks retained related to mortgage loan originations. Expected gains and losses from the sale of residential mortgage loans and their related servicing rights are included in the measurement of written loan commitments that are accounted for at fair value through Financial Services revenues at the time of commitment. Subsequent changes in the fair value of these loans are reflected in Financial Services revenues as they occur. At December 31, 2017 and 2016 , residential mortgage loans available-for-sale had an aggregate fair value of $570.6 million and $539.5 million , respectively, and an aggregate outstanding principal balance of $553.5 million and $529.7 million , respectively. The net gain (loss) resulting from changes in fair value of these loans totaled $(2.2) million and $2.8 million for the years ended December 31, 2017 and 2016 , respectively. These changes in fair value were substantially offset by changes in fair value of the corresponding hedging instruments. Net gains from the sale of mortgages during 2017 , 2016 , and 2015 were $110.9 million , $109.6 million , and $80.8 million , respectively, and have been included in Financial Services revenues. Mortgage servicing, origination, and commitment fees Mortgage servicing fees represent fees earned for servicing loans for various investors. Servicing fees are based on a contractual percentage of the outstanding principal balance, or a contracted set fee in the case of certain sub-servicing arrangements, and are credited to income when related mortgage payments are received or the sub-servicing fees are earned. Loan origination costs related to residential mortgage loans available-for-sale are recognized as incurred in Financial Services expenses while the associated mortgage origination fees are recognized in Financial Services revenues as earned, generally upon loan closing. Mortgage servicing rights We sell the servicing rights for the loans we originate through fixed price servicing sales contracts to reduce the risks and costs inherent in servicing loans. This strategy results in owning the servicing rights for only a short period of time. We recognize the fair value of our rights to service a loan as revenue at the time of entering into an interest rate lock commitment with a borrower. Due to the short period of time the servicing rights are held, we do not amortize the servicing asset. The servicing sales contracts provide for the reimbursement of payments made by the purchaser if loans prepay within specified periods of time, generally within 90 to 120 days after sale. We establish reserves for this liability at the time the sale is recorded. Such reserves were immaterial at December 31, 2017 and 2016 . Loans held for investment We maintain a portfolio of loans that either have been repurchased from investors or were not saleable upon closing. We have the intent and ability to hold these loans for the foreseeable future or until maturity or payoff. These loans are reviewed annually for impairment, or when recoverability becomes doubtful. Loans held for investment are included in other assets and totaled $11.2 million and $8.4 million at December 31, 2017 and 2016 , respectively. Interest income on mortgage loans Interest income on mortgage loans is recorded in Financial Services revenues, accrued from the date a mortgage loan is originated until the loan is sold, and totaled $9.5 million , $8.0 million , and $6.9 million in 2017 , 2016 , and 2015 , respectively. Loans are placed on non-accrual status once they become greater than 90 days past due their contractual terms. Subsequent payments received are applied according to the contractual terms of the loan. Mortgage discounts are not amortized as interest income due to the short period the loans are held until sale to third party investors. Title services Revenues associated with our title operations are recognized within Financial Services revenues as closing services are rendered and title insurance policies are issued, both of which generally occur as each home is closed. Derivative instruments and hedging activities We are party to interest rate lock commitments ("IRLCs") with customers resulting from our mortgage origination operations. At December 31, 2017 and 2016 , we had aggregate IRLCs of $210.9 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 December 31, 2017 and 2016 , we had unexpired forward contracts of $522.0 million and $610.0 million , respectively, and whole loan investor commitments of $203.1 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 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 location in the Consolidated Balance Sheets are summarized below ($000’s omitted): December 31, 2017 December 31, 2016 Other Assets Other Liabilities Other Assets Other Liabilities Interest rate lock commitments $ 5,990 $ 407 $ 9,194 $ 501 Forward contracts 432 817 8,085 1,004 Whole loan commitments 794 941 1,135 863 $ 7,216 $ 2,165 $ 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 we will apply the modified retrospective method of adoption to contracts that are not completed as of the date of initial adoption. We have substantially completed our evaluation of the impact of adopting the new revenue standard. Based on our assessment, we do not expect the adoption of ASU 2014-09 to have a material impact on our financial statements. Further, we do not expect significant changes to our business processes, systems, or internal controls as a result of adopting the standard. 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 proces

Inventory And Land Held For Sal

Inventory And Land Held For Sale	12 Months Ended
	Dec. 31, 2017
Inventory Disclosure [Abstract]
Inventory and land held for sale	Inventory and land held for sale Major components of inventory at December 31, 2017 and 2016 were ($000’s omitted): 2017 2016 Homes under construction $ 2,421,405 $ 1,921,259 Land under development 4,135,814 4,072,109 Raw land 589,911 777,287 $ 7,147,130 $ 6,770,655 In all periods presented, we capitalized all Homebuilding interest costs into inventory because the level of our active inventory exceeded our debt levels. Activity related to interest capitalized into inventory is as follows ($000’s omitted): Years Ended December 31, 2017 2016 2015 Interest in inventory, beginning of period $ 186,097 $ 149,498 $ 167,638 Interest capitalized 181,719 160,506 120,001 Interest expensed (141,205 ) (123,907 ) (138,141 ) Interest in inventory, end of period $ 226,611 $ 186,097 $ 149,498 Land-related charges We recorded the following land-related charges ($000's omitted): Statement of Operations Classification 2017 2016 2015 Land impairments Home sale cost of revenues $ 88,952 $ 1,074 $ 7,347 Net realizable value adjustments ("NRV") - land held for sale Land sale cost of revenues 83,576 1,105 (901 ) Impairments of unconsolidated entities Other expense, net 8,017 — — Write-offs of deposits and pre-acquisition costs Other expense, net 11,367 17,157 5,021 Total land-related charges $ 191,912 $ 19,336 $ 11,467 The 2017 charges were primarily the result of a plan we announced in May 2017 to sell select non-core and underutilized land parcels following a strategic review of our land portfolio. 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. In addition to this strategic review, we recorded impairment charges related to certain communities due to operating performance that was significantly lower than expectations. 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 12% 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. Land held for sale Land held for sale at December 31, 2017 and 2016 was as follows ($000’s omitted): 2017 2016 Land held for sale, gross $ 142,070 $ 38,157 Net realizable value reserves (73,686 ) (6,429 ) Land held for sale, net $ 68,384 $ 31,728

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Segment information	Segment information Our Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the U.S. and the construction of housing on such land. Home sale revenues for detached and attached homes were $7.3 billion and $1.1 billion in 2017 , $6.5 billion and $996.4 million in 2016 , and $5.0 billion and $841.5 million in 2015 , respectively. 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. The Financial Services segment operates generally in the same markets as the Homebuilding segments. Evaluation of segment performance is generally based on income before income taxes. Each reportable segment generally follows the same accounting policies described in Note 1 . Operating Data by Segment ($000’s omitted) Years Ended December 31, 2017 2016 2015 Revenues: Northeast $ 693,624 $ 696,463 $ 682,112 Southeast (a) 1,563,322 1,491,270 1,058,089 Florida 1,493,953 1,284,753 1,019,733 Midwest 1,449,466 1,234,650 1,020,691 Texas 1,167,750 1,034,673 845,772 West 2,012,975 1,745,541 1,214,814 8,381,090 7,487,350 5,841,211 Financial Services 192,160 181,126 140,753 Consolidated revenues $ 8,573,250 $ 7,668,476 $ 5,981,964 Income before income taxes (b) : Northeast (c) $ 21,190 $ 81,991 $ 82,616 Southeast (a) 122,532 145,011 172,330 Florida (d) 208,825 205,049 196,525 Midwest 178,231 120,159 91,745 Texas 182,862 152,355 121,329 West 229,504 225,771 169,394 Other homebuilding (e) (77,812 ) (69,570 ) (76,622 ) 865,332 860,766 757,317 Financial Services (f) 73,496 73,084 58,706 Consolidated income before income taxes $ 938,828 $ 933,850 $ 816,023 (a) Southeast includes the acquisition in January 2016 of substantially all of the assets of Wieland (see Note 1 ). (b) Includes land-related charges of $191.9 million , $19.3 million and $11.5 million in 2017 , 2016 , and 2015 , respectively (see Note 2 ). (c) Northeast includes a charge of $15.0 million in 2016 related to the settlement of a disputed land transaction and a charge of $20.0 million in 2015 resulting from the Applecross matter (see Note 11 ). (d) Florida includes a warranty charge of $12.4 million in 2017 related to a closed-out community (see Note 11 ). (e) Other homebuilding includes the amortization of intangible assets, amortization of capitalized interest, and other items not allocated to the operating segments. Also includes: write-offs of $29.6 million of insurance receivables associated with the resolution of certain insurance matters in 2017; adjustments to general liability insurance reserves of $95.1 million in 2017 , $55.2 million in 2016 , and $62.2 million in 2015 (see Note 11 ); and costs associated with the relocation of our corporate headquarters totaling $8.3 million and $4.4 million in 2016 and 2015 , respectively. (f) Financial Services included reductions in loan origination liabilities totaling $11.4 million in 2015 (see Note 11 ). Operating Data by Segment ($000's omitted) 2017 2016 2015 Land-related charges*: Northeast $ 51,362 $ 2,079 $ 3,301 Southeast 55,689 3,089 3,022 Florida 9,702 715 4,555 Midwest 8,917 3,383 2,319 Texas 2,521 515 295 West 56,995 8,960 (2,615 ) Other homebuilding 6,726 595 590 $ 191,912 $ 19,336 $ 11,467 * Land-related charges include land impairments, net realizable value adjustments for land held for sale, and write-offs of deposits and pre-acquisition costs for land option contracts we elected not to pursue. Other homebuilding consists primarily of write-offs of capitalized interest related to such land-related charges. See Note 2 for additional discussion of these charges. Operating Data by Segment ($000's omitted) Years Ended December 31, 2017 2016 2015 Depreciation and amortization: Northeast $ 2,392 $ 2,133 $ 1,682 Southeast 5,117 5,350 3,492 Florida 4,883 4,955 3,536 Midwest 4,449 5,099 5,019 Texas 3,301 3,673 2,928 West 5,828 6,739 5,995 Other homebuilding (a) 21,326 22,467 20,254 47,296 50,416 42,906 Financial Services 3,702 3,591 3,316 $ 50,998 $ 54,007 $ 46,222 (a) Other homebuilding includes amortization of intangible assets. Operating Data by Segment ($000's omitted) Years Ended December 31, 2017 2016 2015 Equity in (earnings) loss of unconsolidated entities: Northeast $ — $ 2 $ 2 Southeast — — — Florida (8 ) (10 ) 2 Midwest (513 ) 78 (337 ) Texas — — — West (a) 4,913 (6,759 ) (5,107 ) Other homebuilding (1,782 ) (1,117 ) (1,915 ) 2,610 (7,806 ) (7,355 ) Financial Services (625 ) (531 ) — $ 1,985 $ (8,337 ) $ (7,355 ) (a) Includes an $8.0 million impairment of an investment in an unconsolidated entity in 2017 (see Note 2 ). Operating Data by Segment ($000's omitted) December 31, 2017 Homes Under Land Under Raw Land Total Total Northeast $ 234,413 $ 327,599 $ 73,574 $ 635,586 $ 791,511 Southeast 433,411 613,626 121,238 1,168,275 1,287,992 Florida 359,651 876,856 109,069 1,345,576 1,481,837 Midwest 299,896 476,694 28,482 805,072 877,282 Texas 251,613 435,018 87,392 774,023 859,847 West 798,706 1,137,940 147,493 2,084,139 2,271,328 Other homebuilding (b) 43,715 268,081 22,663 334,459 1,469,234 2,421,405 4,135,814 589,911 7,147,130 9,039,031 Financial Services — — — — 647,618 $ 2,421,405 $ 4,135,814 $ 589,911 $ 7,147,130 $ 9,686,649 December 31, 2016 Homes Under Land Under Raw Land Total Total Northeast $ 175,253 $ 375,899 $ 135,447 $ 686,599 $ 798,369 Southeast (a) 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 (b) 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 December 31, 2015 Homes Under Land Under Raw Land Total Total Northeast $ 163,173 $ 292,631 $ 121,522 $ 577,326 $ 688,610 Southeast 196,456 367,577 139,246 703,279 765,933 Florida 227,910 574,092 97,185 899,187 1,013,543 Midwest 197,738 414,386 68,918 681,042 734,834 Texas 191,424 317,702 107,737 616,863 691,342 West 413,208 1,094,112 222,920 1,730,240 1,924,958 Other homebuilding (b) 18,351 198,566 25,204 242,121 2,861,197 1,408,260 3,259,066 782,732 5,450,058 8,680,417 Financial Services — — — — 508,989 $ 1,408,260 $ 3,259,066 $ 782,732 $ 5,450,058 $ 9,189,406 (a) Southeast includes the acquisition in January 2016 of substantially all of the assets of Wieland (see Note 1 ). (b) Other homebuilding primarily includes cash and equivalents, capitalized interest, intangibles, deferred tax assets, and other corporate items that are not allocated to the operating segments.

Investments In Unconsolidated E

Investments In Unconsolidated Entities	12 Months Ended
	Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Investments In unconsolidated entities	Investments in unconsolidated entities We participate in a number of joint ventures with independent third parties. These joint ventures generally purchase, develop, and sell land, including selling land to us for use in our homebuilding operations. A summary of our joint ventures is presented below ($000’s omitted): December 31, 2017 2016 Investments in Joint ventures with limited recourse debt $ 37,063 $ — Investments in joint ventures with debt non-recourse to PulteGroup 3,567 33,436 Investments in other active joint ventures 22,327 18,011 Total investments in unconsolidated entities $ 62,957 $ 51,447 Total joint venture debt $ 59,544 $ 4,605 PulteGroup proportionate share of joint venture debt: Joint venture debt with limited recourse guaranties $ 28,157 $ — Joint venture debt non-recourse to PulteGroup 700 1,349 PulteGroup's total proportionate share of joint venture debt $ 28,857 $ 1,349 In 2017 , 2016 , and 2015 , we recognized earnings (losses) from unconsolidated joint ventures of $(2.0) million , $8.3 million , and $7.4 million , respectively. We received distributions from our unconsolidated joint ventures of $9.4 million , $10.9 million , and $6.0 million , in 2017 , 2016 , and 2015 , respectively. We made capital contributions of $23.0 million and $14.5 million during 2017 and 2016 , respectively, with no significant contributions in 2015 . At December 31, 2017, aggregate outstanding debt of unconsolidated joint ventures was $59.5 million , of which $56.3 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. The timing of cash flows related to a joint venture and any related financing agreements varies by agreement. If additional capital contributions are required and approved by the joint venture, we would need to contribute our pro rata portion of those capital needs in order to not dilute our ownership in the joint ventures. While future capital contributions may be required, we believe the total amount of such contributions will be limited. Our maximum financial exposure related to joint ventures is unlikely to exceed the combined investment and limited recourse guaranty totals.

Debt

Debt	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Debt	5. Debt Our notes payable are summarized as follows ($000’s omitted): December 31, 2017 2016 7.625% unsecured senior notes due October 2017 $ — $ 123,000 4.250% unsecured senior notes due March 2021 (a) 700,000 700,000 5.500% unsecured senior notes due March 2026 (a) 700,000 700,000 5.000% unsecured senior notes due January 2027 (a) 600,000 600,000 7.875% unsecured senior notes due June 2032 (a) 300,000 300,000 6.375% unsecured senior notes due May 2033 (a) 400,000 400,000 6.000% unsecured senior notes due February 2035 (a) 300,000 300,000 Net premiums, discounts, and issuance costs (b) (13,057 ) (12,984 ) Total senior notes $ 2,986,943 $ 3,110,016 Other notes payable 20,024 19,282 Notes payable $ 3,006,967 $ 3,129,298 Estimated fair value $ 3,263,774 $ 3,131,579 (a) Redeemable prior to maturity; guaranteed on a senior basis by certain wholly-owned subsidiaries. (b) 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. The indentures governing the senior notes impose certain restrictions on the incurrence of additional debt along with other limitations. At December 31, 2017 , we were in compliance with all of the covenants and requirements under the senior notes. Our senior note principal maturities are as follows: 2018 through 2020 - none; 2021 - $700.0 million ; thereafter - $2.3 billion . Refer to Note 12 for supplemental consolidating financial information of the Company. In February 2016 , we issued $1.0 billion of unsecured senior notes, consisting of $300.0 million of 4.25% senior notes due March 1, 2021 , and $700.0 million of 5.50% senior notes due March 1, 2026 . The net proceeds from this senior notes issuance were used to fund the retirement of $465.2 million of our senior notes that matured in May 2016, with the remaining net proceeds used for general corporate purposes. In July 2016 , we issued an additional $1.0 billion of unsecured senior notes, consisting of an additional $400.0 million of the 4.25% senior notes due March 1, 2021 , and $600.0 million of 5.00% senior notes due January 15, 2027 . The net proceeds from the July senior notes issuance were used for general corporate purposes and to pay down approximately $500.0 million of outstanding debt, including the remainder of a then existing term loan facility, which resulted in a write-off of $0.7 million of remaining debt issuance costs in 2016. The senior notes issued in 2016 are unsecured obligations, and rank equally in right of payment with the existing and future senior unsecured indebtedness of the Company and each of the guarantors, respectively. The notes are redeemable at our option at any time up to the date of maturity. We retired outstanding debt totaling $134.7 million , $986.9 million , and $239.2 million during 2017 , 2016 , and 2015 , respectively. Certain debt retirements occurred prior to the stated maturity dates and resulted in losses totaling $0.7 million in 2016 . Losses on debt repurchase transactions include the write-off of unamortized discounts, premiums, and transaction fees related to the repurchased debt and are reflected in other expense, net. Other notes payable include non-recourse and limited recourse collateralized notes with third parties that totaled $20.0 million and $19.3 million at December 31, 2017 and 2016 , respectively. These notes have maturities ranging up to three years, are secured by the applicable land positions to which they relate, and have no recourse to any other assets. The stated interest rates on these notes range up to 7.30% . Revolving credit facility We maintain a senior unsecured revolving credit facility (the “Revolving Credit Facility”) that matures in June 2019 . The Revolving Credit Facility contains an uncommitted accordion feature that could increase the size of the Revolving Credit Facility to $1.25 billion , subject to certain conditions and availability of additional bank commitments. In October 2017, we exercised the accordion feature to increase the maximum borrowing capacity from $750.0 million 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 $500.0 million at December 31, 2017 . The interest rate on borrowings under the Revolving Credit Facility may be based on either the LIBOR or Base Rate plus an applicable margin, as defined therein. We had no borrowings outstanding and $235.5 million and $219.1 million of letters of credit issued under the Revolving Credit Facility at December 31, 2017 and 2016 , respectively. The Revolving Credit Facility contains financial covenants that require us to maintain a minimum Tangible Net Worth, a minimum Interest Coverage Ratio, and a maximum Debt-to-Capitalization Ratio (as each term is defined in the Revolving Credit Facility). As of December 31, 2017 , we were in compliance with all covenants. Outstanding balances under the Revolving Credit Facility are guaranteed by certain of our wholly-owned subsidiaries. Our available and unused borrowings under the Revolving Credit Facility, net of outstanding letters of credit, amounted to $764.5 million and $530.9 million as of December 31, 2017 and 2016 , respectively. 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 termination date to August 2018 . The maximum aggregate commitment was $475.0 million (with a $50.0 million uncommitted accordion feature to allow for a temporary increase up to $525.0 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 the changes in capacity during the term of the agreement is to lower associated fees during seasonally lower volume periods of mortgage origination activity. Borrowings under the Repurchase Agreement are secured by residential mortgage loans available-for-sale. The Repurchase Agreement contains various affirmative and negative covenants applicable to Pulte Mortgage, including quantitative thresholds related to net worth, net income, and liquidity. Pulte Mortgage had $437.8 million and $331.6 million outstanding under the Repurchase Agreement at December 31, 2017 , and 2016 , respectively, and was in compliance with its covenants and requirements as of such dates. The following is aggregate borrowing information for our mortgage operations ($000’s omitted): December 31, 2017 2016 Available credit lines $ 475,000 $ 360,000 Unused credit lines $ 37,196 $ 28,379 Weighted-average interest rate 3.55 % 2.89 %

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Shareholders' equity	Shareholders’ equity Our declared quarterly cash dividends totaled $110.0 million , $122.2 million , and $117.9 million in 2017 , 2016 , and 2015 , respectively. Under the share repurchase program authorized by our Board of Directors, we repurchased 35.4 million , 30.9 million , and 21.2 million shares in 2017 , 2016 , and 2015 , respectively, for a total of $910.3 million , $600.0 million , and $433.7 million in 2017 , 2016 , and 2015 , respectively. At December 31, 2017 , we had remaining authorization to repurchase $94.4 million of common shares. On January 25, 2018 our Board of Directors increased our repurchase authorization by $500.0 million . Under our stock-based compensation plans, we accept shares as payment under certain conditions related to stock option exercises and vesting of restricted shares and share units, generally related to the payment of tax obligations. During 2017 , 2016 , and 2015 , employees surrendered shares valued at $6.0 million , $3.2 million , and $9.0 million , respectively, under these plans. Such share transactions are excluded from the above noted share repurchase authorization.

Stock Compensation Plans

Stock Compensation Plans	12 Months Ended
	Dec. 31, 2017
Share-based Compensation [Abstract]
Stock compensation plans	Stock compensation plans We maintain a stock award plan for both employees and non-employee directors. The plan provides for the grant of a variety of equity awards, including options (generally non-qualified options), restricted shares, restricted share units ("RSUs"), and performance shares to key employees (as determined by the Compensation and Management Development Committee of the Board of Directors) for periods not to exceed ten years. Non-employee directors are awarded an annual distribution of common shares. Options granted to employees generally vest incrementally over four years and are generally exercisable for ten years from the vest date. RSUs represent the right to receive an equal number of common shares and are converted into common shares upon distribution. Restricted shares and RSUs generally cliff vest after three years. Both restricted share and RSU holders receive cash dividends during the vesting period. Performance shares vest upon attainment of the stated performance targets and minimum service requirements and are converted into common shares upon distribution. As of December 31, 2017 , there were 25.0 million shares that remained available for grant under the plan. Our stock compensation expense for the three years ended December 31, 2017 , is presented below ($000's omitted): 2017 2016 2015 Stock options $ — $ — $ 37 Restricted shares (including RSUs and performance shares) 24,207 18,626 16,852 Long-term incentive plans 9,476 3,602 7,863 $ 33,683 $ 22,228 $ 24,752 Stock options A summary of stock option activity for the three years ended December 31, 2017 , is presented below (000’s omitted, except per share data): 2017 2016 2015 Shares Weighted- Average Per Share Exercise Price Shares Weighted- Average Per Share Exercise Price Shares Weighted- Average Per Share Exercise Price Outstanding, beginning of year 3,623 $ 12 6,040 $ 19 9,370 $ 23 Granted — — — — — — Exercised (2,353 ) 12 (498 ) 12 (904 ) 12 Forfeited (102 ) 28 (1,919 ) 34 (2,426 ) 37 Outstanding, end of year 1,168 $ 11 3,623 $ 12 6,040 $ 19 Options exercisable at year end 1,168 $ 11 3,623 $ 12 6,040 $ 19 Weighted-average per share fair value of options granted during the year $ — $ — $ — The following table summarizes information about our options outstanding at December 31, 2017 : Options Outstanding Options Exercisable Number Outstanding (000's omitted) Weighted- Average Remaining Contract Life (in years) Weighted- Average Per Share Exercise Price Number Exercisable (000's omitted) Weighted- Average Per Share Exercise Price $0.01 to $10.00 264 2.9 $ 8 264 $ 8 $10.01 to $20.00 904 1.6 12 904 12 1,168 1.9 $ 11 1,168 $ 11 We did not issue any stock options during 2017, 2016, or 2015. As a result, there is no unrecognized compensation cost related to stock option awards at December 31, 2017 . The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option. The aggregate intrinsic value of stock options that were exercised during 2017 , 2016 , and 2015 was $31.1 million , $4.5 million , and $9.4 million , respectively. As of December 31, 2017 , options outstanding, all of which were exercisable, had an intrinsic value of $25.8 million . Restricted shares (including RSUs and performance shares) A summary of restricted share activity, including RSUs and performance shares, for the three years ended December 31, 2017 , is presented below (000’s omitted, except per share data): 2017 2016 2015 Shares Weighted- Average Per Share Grant Date Fair Value Shares Weighted- Average Per Share Grant Date Fair Value Shares Weighted- Average Per Share Grant Date Fair Value Outstanding, beginning of year 2,974 $ 19 2,576 $ 18 2,890 $ 15 Granted 1,251 21 1,853 17 932 22 Distributed (775 ) 19 (546 ) 20 (1,090 ) 10 Forfeited (179 ) 19 (909 ) 12 (156 ) 19 Outstanding, end of year 3,271 $ 19 2,974 $ 19 2,576 $ 18 Vested, end of year 152 $ 17 123 $ 15 89 $ 14 During 2017 , 2016 , and 2015 , the total fair value of shares vested during the year was $15.0 million , $11.0 million , and $10.2 million , respectively. Unamortized compensation cost related to restricted share awards was $18.6 million at December 31, 2017 . These costs will be expensed over a weighted-average period of approximately 2 years. Additionally, there were 152,472 RSUs outstanding at December 31, 2017 , that had vested but had not yet been paid out because the payout date had been deferred by the holders. Long-term incentive plans We maintain long-term incentive plans for senior management and other employees that provide awards based on the achievement of stated performance targets over three -year periods. Awards are stated in dollars but are settled in common shares based on the stock price at the end of the performance period. If the share price falls below a floor of $5.00 per share at the end of the performance period or we do not have a sufficient number of shares available under our stock incentive plans at the time of settlement, then a portion of each award will be paid in cash. We adjust the liabilities and recognize the expense associated with the awards based on the probability of achieving the stated performance targets at each reporting period. Liabilities for these awards totaled $14.0 million and $11.2 million at December 31, 2017 and 2016 , respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income taxes	Income taxes On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act makes broad and complex changes to the U.S. tax code, including, but not limited to, the following that impact us: (1) reducing the U.S. federal corporate income tax rate from 35 percent to 21 percent; (2) eliminating the corporate alternative minimum tax (“AMT”) and changing how existing AMT credits can be realized; (3) creating a new limitation on deductible interest expense; (4) repealing the domestic production activities deduction; (5) limiting the deductibility of certain executive compensation; and (6) limiting certain other deductions. The SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”), which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting relating to the Tax Act under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in its financial statements. If a company cannot determine a provisional estimate to be included in its financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. In connection with our initial analysis of the impact of the Tax Act, we have recorded a provisional amount of net tax expense of $172.1 million in the year ended December 31, 2017 related to the remeasurement of our deferred tax balance and other effects. For various reasons including those discussed below, we have not fully completed our accounting for the income tax effects of the Tax Act. As we were able to make reasonable estimates of the effects of the Tax Act, we recorded provisional amounts. In connection with the adoption of the Tax Act, we: – Remeasured certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future, which is generally at a federal rate of 21%. However, we are still analyzing certain aspects of the Tax Act and refining our calculations, which could potentially affect the measurement of these balances or potentially give rise to new deferred tax amounts. Our financial statements include provisional amounts for the impacts of deferred tax revaluation. – Evaluated the future deductibility of executive compensation due to the elimination of the performance-based exception as well as the modification of who is treated as a covered person in connection with limiting the deduction. As part of the Tax Act, there is a transition rule for written, binding contracts in place prior to November 2, 2017 related to executive compensation, that have not been modified in any material respect. Further guidance is needed to fully determine the impact of these provisions. Our financial statements include provisional amounts for the impacts of the changes to the deductibility of executive compensation. – Performed initial evaluations of the state conformity to the Tax Act. We continue to assess the conformity of each state in which we operate to the Tax Act along with the changes in deductibility of certain expenses at the federal level in order to finalize the impacts on the realizability of our state net NOLs and our related valuation allowances. Our financial statements include provisional amounts for the impacts of state conformity. Components of current and deferred income tax expense (benefit) are as follows ($000’s omitted): 2017 2016 2015 Current expense (benefit) Federal $ 81,101 $ 9,464 $ 8,760 State and other (11,801 ) (13,104 ) 1,474 $ 69,300 $ (3,640 ) $ 10,234 Deferred expense (benefit) Federal $ 444,695 $ 312,288 $ 277,895 State and other (22,388 ) 22,499 33,804 $ 422,307 $ 334,787 $ 311,699 Income tax expense (benefit) $ 491,607 $ 331,147 $ 321,933 The deferred tax expense associated with the remeasurement of the state NOL carryforwards and related valuation allowances as well as other deferred tax assets are net of federal benefit and included in state deferred tax expense. The following table reconciles the statutory federal income tax rate to the effective income tax rate: 2017 2016 2015 Income taxes at federal statutory rate 35.0 % 35.0 % 35.0 % State and local income taxes, net of federal tax 3.1 3.3 2.8 Changes in tax laws, including the Tax Act 18.3 0.5 0.3 Deferred tax asset valuation allowance (1.1 ) (2.2 ) 0.4 Tax contingencies (1.0 ) (1.3 ) 0.1 Other (1.9 ) 0.2 0.9 Effective rate 52.4 % 35.5 % 39.5 % Our effective tax rate was 52.4% , 35.5% and 39.5% for 2017 , 2016 , and 2015 , respectively. The 2017 effective tax rate differs from the federal statutory rate primarily due to the impacts of the Tax Act, state income tax expense on current year earnings, the favorable resolution of certain state income tax matters, the domestic production activities deduction, and state tax law changes. The 2016 effective tax rate exceeds the federal statutory rate primarily due to state income taxes, the reversal of a portion of our valuation allowance related to a legal entity restructuring, the favorable resolution of certain state income tax matters, the impact on our net deferred tax assets due to changes in business operations and state tax laws, and recognition of energy efficient home credits. The 2015 effective tax rate exceeds the federal statutory rate primarily due to state income taxes and the impact of changes in business operations and state tax laws to our net deferred tax assets. As a result of the adoption of ASU No. 2016-09 (see Note 1 ), excess tax benefits related to equity compensation are recorded as a component of income tax expense. Additionally, 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. Deferred tax assets and liabilities reflect temporary differences arising from the different treatment of items for tax and accounting purposes. Components of our net deferred tax asset are as follows ($000’s omitted): At December 31, 2017 2016 Deferred tax assets: Accrued insurance $ 117,133 $ 220,823 Inventory valuation reserves 202,791 359,964 Other reserves 78,271 132,597 NOL carryforwards: Federal 41,282 187,817 State 248,224 224,316 Alternative minimum tax credit carryforwards 54,965 53,917 Energy and other credit carryforwards 41,763 45,673 784,429 1,225,107 Deferred tax liabilities: Capitalized items, including real estate basis differences, deducted for tax, net (17,895 ) (13,054 ) Deferral of profit on home sales (34,769 ) (69,391 ) Intangibles (17,860 ) (28,391 ) (70,524 ) (110,836 ) Valuation allowance (68,610 ) (64,863 ) Net deferred tax asset $ 645,295 $ 1,049,408 Our federal NOL carryforward deferred tax asset of $41.3 million expires, if unused, between 2031 and 2032 . We also have state NOLs in various jurisdictions which may generally be carried forward from 5 to 20 years, depending on the jurisdiction. Our NOL carryforward deferred tax assets will expire if unused at various dates as follows: $26.9 million from 2018 to 2022 and $221.3 million from 2023 and thereafter. In addition, we have federal energy credit carryforwards that expire, if unused, between 2027 and 2036 , and alternative minimum tax credits that, if unused in 2018, can be refunded beginning in 2019. We evaluate our deferred tax assets each period to determine if a valuation allowance is required based on whether it is "more likely than not" that some portion of the deferred tax assets would not be realized. The ultimate realization of these deferred tax assets is dependent upon the generation of sufficient taxable income during future periods. We conduct our evaluation by considering all available positive and negative evidence. This evaluation considers, among other factors, historical operating results, forecasts of future profitability, the duration of statutory carryforward periods, and the outlooks for the U.S. housing industry and broader economy. Our ability to use certain of Centex’s federal losses and credits is limited by Section 382 of the Internal Revenue Code. We do not believe that this limitation will prevent us from utilizing these Centex losses and credits. We do believe that full utilization of certain state NOL carryforwards will be limited due to Section 382. 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 our 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. We had $48.6 million and $21.5 million of gross unrecognized tax benefits at December 31, 2017 and 2016 , respectively. If recognized, $23.4 million and $14.0 million , respectively, of these amounts would impact our effective tax rate. Additionally, we had accrued interest and penalties of $4.9 million and $12.2 million at December 31, 2017 and 2016 , respectively. It is reasonably possible within the next twelve months that our gross unrecognized tax benefits may decrease by up to $40.0 million , excluding interest and penalties, primarily due to potential settlements. A reconciliation of the change in the unrecognized tax benefits is as follows ($000’s omitted): 2017 2016 2015 Unrecognized tax benefits, beginning of period $ 21,502 $ 38,992 $ 32,911 Increases related to tax positions taken during a prior period 20,555 224 5,763 Decreases related to tax positions taken during a prior period (9,665 ) (13,218 ) — Increases related to tax positions taken during the current period 18,895 114 318 Decreases related to settlements with taxing authorities — (707 ) — Reductions as a result of a lapse of the applicable statute of limitations (2,683 ) (3,903 ) — Unrecognized tax benefits, end of period $ 48,604 $ 21,502 $ 38,992 We continue to participate in the Compliance Assurance Process (“CAP”) with the IRS as an alternative to the traditional IRS examination process. As a result of our participation in CAP, federal tax years 2015 and prior are closed. Tax year 2016 is expected to close by the second quarter of 2018. We are also currently under examination by various state taxing jurisdictions and anticipate finalizing certain of the examinations within the next twelve months. The final outcome of these examinations is not yet determinable. The statute of limitations for our major tax jurisdictions remains open for examination for tax years 2005 to 2017 .

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair value disclosures	Fair value disclosures ASC 820, “Fair Value Measurements and Disclosures,” provides a framework for measuring fair value in generally accepted accounting principles and establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The fair value hierarchy can be summarized as follows: Level 1 Fair value determined based on quoted prices in active markets for identical assets or liabilities. Level 2 Fair value determined using significant observable inputs, generally either quoted prices in active markets for similar assets or liabilities or quoted prices in markets that are not active. Level 3 Fair value determined using significant unobservable inputs, such as pricing models, discounted cash flows, or similar techniques Our assets and liabilities measured or disclosed at fair value are summarized below ($000’s omitted): Financial Instrument Fair Value Fair Value December 31, December 31, Measured at fair value on a recurring basis: Residential mortgage loans available-for-sale Level 2 $ 570,600 $ 539,496 Interest rate lock commitments Level 2 5,583 8,693 Forward contracts Level 2 (385 ) 7,081 Whole loan commitments Level 2 (147 ) 272 Measured at fair value on a non-recurring basis: House and land inventory Level 3 $ 11,045 $ 8,920 Land held for sale Level 2 8,600 1,670 Disclosed at fair value: Cash and equivalents (including restricted cash) Level 1 $ 306,168 $ 723,248 Financial Services debt Level 2 437,804 331,621 Other notes payable Level 2 20,024 19,282 Senior notes payable Level 2 3,243,750 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 value 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 1 for a more detailed discussion of the valuation methods used for inventory. The carrying amounts of cash and equivalents, Financial Services debt, Other notes payable and the Revolving Credit Facility approximate their fair values due to their short-term nature and floating interest rate terms. The fair values of the Senior notes payable 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 the senior notes payable was $3.0 billion and $3.1 billion at December 31, 2017 and 2016 , respectively.

Other Assets and Accrued and Ot

Other Assets and Accrued and Other Liabilities	12 Months Ended
	Dec. 31, 2017
Other Assets and Accrued and Other Liabilities [Abstract]
Other assets and accrued and other liabilities	Other assets and accrued and other liabilities Other assets are presented below ($000’s omitted): December 31, 2017 2016 Accounts and notes receivable: Insurance receivables (Note 11) $ 213,407 $ 307,344 Notes receivable 16,768 29,111 Other receivables 76,309 90,714 306,484 427,169 Prepaid expenses 116,912 106,748 Deposits and pre-acquisition costs (Note 1) 207,987 195,436 Property and equipment, net (Note 1) 70,706 77,444 Income taxes receivable (Note 8) 6,964 9,272 Other 36,070 41,357 $ 745,123 $ 857,426 We record receivables from various parties in the normal course of business, including amounts due from insurance companies (see Note 11 ), municipalities, and vendors. In certain instances, we may accept consideration for land sales or other transactions in the form of a note receivable. Accrued and other liabilities are presented below ($000’s omitted): December 31, 2017 2016 Self-insurance liabilities (Note 11) $ 758,812 $ 831,058 Compensation-related liabilities 134,008 123,730 Warranty liabilities (Note 11) 72,709 66,134 Accrued interest 50,620 50,793 Loan origination liabilities (Note 11) 34,641 35,114 Other 305,543 322,883 $ 1,356,333 $ 1,429,712

Commitments And Contingencies

Commitments And Contingencies	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Leases We lease certain property and equipment under non-cancelable operating leases. The future minimum lease payments required under operating leases that have initial or remaining non-cancelable terms in excess of one year as of December 31, 2017 , are as follows ($000’s omitted): Years Ending December 31, 2018 $ 25,040 2019 23,561 2020 16,798 2021 11,674 2022 9,543 Thereafter 31,509 Total minimum lease payments $ 118,125 Net rental expense for 2017 , 2016 , and 2015 was $30.8 million , $33.0 million , and $27.7 million , respectively. Certain leases contain renewal or purchase options and generally provide that we pay for insurance, taxes, and maintenance. 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. If a loan is determined to be faulty, we either repurchase the loans from the investors or reimburse the investors' losses (a “make-whole” payment). Estimating the required liability for these potential losses requires a significant level of management judgment. During 2015 , we reduced our loan origination liabilities by net reserve releases of $11.4 million based on probable settlements of various repurchase requests and existing conditions. Reserves provided (released) are reflected in Financial Services expenses. Given the volatility in the mortgage industry, changes in values of underlying collateral over time, and other uncertainties regarding the ultimate resolution of these claims, actual costs could differ from our current estimates. Changes in these liabilities were as follows ($000's omitted): 2017 2016 2015 Liabilities, beginning of period $ 35,114 $ 46,381 $ 58,222 Reserves provided (released), net (50 ) 506 (11,433 ) Payments (423 ) (11,773 ) (408 ) Liabilities, end of period $ 34,641 $ 35,114 $ 46,381 Community development and other special district obligations A community development district or similar development authority (“CDD”) is a unit of local government created under various state statutes that utilizes the proceeds from the sale of bonds to finance the construction or acquisition of infrastructure assets of a development. A portion of the liability associated with the bonds, including principal and interest, is assigned to each parcel of land within the development. This debt is typically paid by subsequent special assessments levied by the CDD on the landowners. Generally, we are only responsible for paying the special assessments for the period during which we are the landowner of the applicable parcels. 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 $235.5 million and $1.2 billion , respectively, at December 31, 2017 , and $219.1 million and $1.1 billion , respectively, at December 31, 2016 . In the event any such letter of credit or surety bonds 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 the applicable projects but has 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 2016, we settled a contract dispute related to a land transaction that we terminated over ten years ago 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. In September 2012, Applecross Club Operations ("Applecross") filed a complaint for breach of contract and promissory estoppel in Applecross v. Pulte Homes of PA, et al. The complaint alleged that we induced Applecross to purchase a golf course from us in 2010 by promising to build over 1,000 residential units in a planned community located outside Philadelphia, Pennsylvania. In September 2015, the jury in the case found in favor of Applecross and awarded damages in the amount of $20.0 million , which we recorded to other expense, net. We have appealed the award and accrued the interest that would be applicable under the award since the date of the verdict. 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 projected 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): 2017 2016 2015 Warranty liabilities, beginning of period $ 66,134 $ 61,179 $ 65,389 Reserves provided 50,014 67,169 52,684 Payments (58,780 ) (55,892 ) (60,968 ) Other adjustments (a) 15,341 (6,322 ) 4,074 Warranty liabilities, end of period $ 72,709 $ 66,134 $ 61,179 (a) Includes a charge of $12.4 million in 2017 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 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 omission, 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 $758.8 million and $831.1 million at December 31, 2017 and 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 65% and 70% of the total general liability reserves at December 31, 2017 and 2016 , respectively. The actuarial analyses that determine the IBNR portion of reserves consider a variety of factors, including the frequency and severity of losses, which are based on our historical claims experience supplemented by industry data. The actuarial analyses of the reserves also consider historical third party recovery rates and claims management expenses. Housing market conditions have been volatile across most of our markets over the past ten years, and we believe such conditions can affect the frequency and cost of construction defect claims. Additionally, IBNR estimates comprise the majority of our liability and are subject to a high degree of uncertainty due to a variety of factors, including changes in claims reporting and resolution patterns, third party recoveries, insurance industry practices, the regulatory environment, and legal precedent. State regulations vary, but construction defect claims are reported and resolved over an extended period often exceeding ten years. Changes in the frequency and timing of reported claims and estimates of specific claim values can impact the underlying inputs and trends utilized in the actuarial analyses, which could have a material impact on the recorded reserves. Additionally, the amount of insurance coverage available for each policy period also impacts our recorded reserves. Because of the inherent uncertainty in estimating future losses and the timing of such losses related to these claims, actual costs could differ significantly from estimated costs. Adjustments to reserves are recorded in the period in which the change in estimate occurs. During 2017 , 2016 , and 2015 , we reduced general liability reserves by $95.1 million , $55.2 million , and $29.6 million , respectively, as a result of changes in estimates resulting from actual claim experience observed being less than anticipated in previous actuarial projections. The changes in actuarial estimates were driven by changes in actual claims experience that, in turn, impacted actuarial estimates for potential future claims. These changes in actuarial estimates did not involve any changes in actuarial methodology but did impact the development of estimates for future periods, which resulted in adjustments to the IBNR portion of our recorded liabilities. During 2015 , we also recorded a general liability reserve reversal of $32.6 million , resulting from a legal settlement relating to plumbing claims initially reported to us in 2008 and for which our recorded liabilities were adjusted over time based on changes in facts and circumstances. These claims ultimately resulted in a class action lawsuit involving a national vendor and numerous other homebuilders, homebuyers, and insurance companies. In 2015 , a global settlement was reached, pursuant to which we funded our agreed upon share of settlement costs, which were significantly lower than our previously estimated exposure. Costs associated with our insurance programs are classified within selling, general, and administrative expenses. Changes in these liabilities were as follows ($000's omitted): 2017 2016 2015 Balance, beginning of period $ 831,058 $ 924,563 $ 995,692 Net reserves provided 81,503 97,916 80,860 Adjustments to previously recorded reserves (a) (97,789 ) (57,132 ) (64,775 ) Payments, net (b) (55,960 ) (134,289 ) (87,214 ) Balance, end of period $ 758,812 $ 831,058 $ 924,563 (a) Includes general liability reserve reversals of $95.1 million , $55.2 million , and $62.2 million in 2017 , 2016 , and 2015 , respectively. (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. As reflected in Note 10 , our receivables from insurance carriers totaled $213.4 million and $307.3 million at December 31, 2017 and 2016 , respectively. The insurance receivables relate to costs incurred or to be incurred to perform corrective repairs, settle claims with customers, and other costs related to the continued progression of both known and anticipated future construction defect claims that we believe to be insured related to previously closed homes. 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. The majority of the decrease in our insurance receivables during 2017 resulted from cash received from our insurance carriers. However, we also recorded write-offs of $29.6 million of insurance receivables associated with the resolution of these matters in 2017 . We are the plaintiff in litigation with certain of our insurance carriers in regard to $71.6 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	12 Months Ended
	Dec. 31, 2017
Supplemental Guarantor Information [Abstract]
Supplemental Guarantor information	pplemental 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. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2017 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor ASSETS Cash and equivalents $ — $ 125,462 $ 147,221 $ — $ 272,683 Restricted cash — 32,339 1,146 — 33,485 Total cash, cash equivalents, and restricted cash — 157,801 148,367 — 306,168 House and land inventory — 7,053,087 94,043 — 7,147,130 Land held for sale — 68,384 — — 68,384 Residential mortgage loans available- for-sale — — 570,600 — 570,600 Investments in unconsolidated entities — 62,415 542 — 62,957 Other assets 9,417 592,045 143,661 — 745,123 Intangible assets — 140,992 — — 140,992 Deferred tax assets, net 646,227 — (932 ) — 645,295 Investments in subsidiaries and intercompany accounts, net 6,661,638 284,983 7,300,127 (14,246,748 ) — $ 7,317,282 $ 8,359,707 $ 8,256,408 $ (14,246,748 ) $ 9,686,649 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Accounts payable, customer deposits, accrued and other liabilities $ 89,388 $ 1,636,913 $ 274,626 $ — $ 2,000,927 Income tax liabilities 86,925 — — — 86,925 Financial Services debt — — 437,804 — 437,804 Notes payable 2,986,943 16,911 3,113 — 3,006,967 Total liabilities 3,163,256 1,653,824 715,543 — 5,532,623 Total shareholders’ equity 4,154,026 6,705,883 7,540,865 (14,246,748 ) 4,154,026 $ 7,317,282 $ 8,359,707 $ 8,256,408 $ (14,246,748 ) $ 9,686,649 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 restricted cash — 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- for-sale — — 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 intercompany accounts, net 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, accrued and other liabilities $ 94,656 $ 1,738,454 $ 189,948 $ — $ 2,023,058 Income tax liabilities 34,860 — — — 34,860 Financial Services debt — — 331,621 — 331,621 Notes payable 3,110,016 17,302 1,980 — 3,129,298 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) For the year ended December 31, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 8,229,392 $ 94,592 $ — $ 8,323,984 Land sale revenues — 53,280 3,826 — 57,106 — 8,282,672 98,418 — 8,381,090 Financial Services — — 192,160 — 192,160 — 8,282,672 290,578 — 8,573,250 Homebuilding Cost of Revenues: Home sale cost of revenues — (6,385,167 ) (75,985 ) — (6,461,152 ) Land sale cost of revenues — (131,363 ) (3,086 ) — (134,449 ) — (6,516,530 ) (79,071 ) — (6,595,601 ) Financial Services expenses — (527 ) (118,762 ) — (119,289 ) Selling, general, and administrative expenses — (785,266 ) (106,315 ) — (891,581 ) Other expense, net (482 ) (58,619 ) 31,150 — (27,951 ) Intercompany interest (2,485 ) — 2,485 — — Income (loss) before income taxes and equity in income (loss) of subsidiaries (2,967 ) 921,730 20,065 — 938,828 Income tax (expense) benefit 1,127 (483,435 ) (9,299 ) — (491,607 ) Income (loss) before equity in income (loss) of subsidiaries (1,840 ) 438,295 10,766 — 447,221 Equity in income (loss) of subsidiaries 449,061 58,559 226,864 (734,484 ) — Net income (loss) 447,221 496,854 237,630 (734,484 ) 447,221 Other comprehensive income (loss) 81 — — — 81 Comprehensive income (loss) $ 447,302 $ 496,854 $ 237,630 $ (734,484 ) $ 447,302 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the year ended December 31, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 7,427,757 $ 23,558 $ — $ 7,451,315 Land sale revenues — 33,598 2,437 — 36,035 — 7,461,355 25,995 — 7,487,350 Financial Services — — 181,126 — 181,126 — 7,461,355 207,121 — 7,668,476 Homebuilding Cost of Revenues: Home sale cost of revenues — (5,566,653 ) (21,321 ) — (5,587,974 ) Land sale cost of revenues — (30,156 ) (1,959 ) — (32,115 ) — (5,596,809 ) (23,280 ) — (5,620,089 ) Financial Services expenses — (533 ) (108,040 ) — (108,573 ) Selling, general, and administrative expenses — (907,748 ) (49,402 ) — (957,150 ) Other expense, net (1,321 ) (69,345 ) 21,852 — (48,814 ) Intercompany interest (1,980 ) — 1,980 — — Income (loss) before income taxes and equity in income (loss) of subsidiaries (3,301 ) 886,920 50,231 — 933,850 Income tax (expense) benefit 1,254 (312,486 ) (19,915 ) — (331,147 ) Income (loss) before equity in income (loss) of subsidiaries (2,047 ) 574,434 30,316 — 602,703 Equity in income (loss) of subsidiaries 604,750 58,078 457,716 (1,120,544 ) — Net income (loss) 602,703 632,512 488,032 (1,120,544 ) 602,703 Other comprehensive income (loss) 83 — — — 83 Comprehensive income (loss) $ 602,786 $ 632,512 $ 488,032 $ (1,120,544 ) $ 602,786 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the year ended December 31, 2015 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor Revenues: Homebuilding Home sale revenues $ — $ 5,792,675 $ — $ — $ 5,792,675 Land sale revenues — 48,536 — — 48,536 — 5,841,211 — — 5,841,211 Financial Services — 1 140,752 — 140,753 — 5,841,212 140,752 — 5,981,964 Homebuilding Cost of Revenues: Home sale cost of revenues — (4,235,945 ) — — (4,235,945 ) Land sale cost of revenues — (35,858 ) — — (35,858 ) — (4,271,803 ) — — (4,271,803 ) Financial Services expenses (313 ) 276 (82,010 ) — (82,047 ) Selling, general, and administrative expenses (3 ) (790,818 ) (3,907 ) — (794,728 ) Other expense, net (760 ) (17,424 ) 821 — (17,363 ) Intercompany interest (2,110 ) (7,922 ) 10,032 — — Income (loss) before income taxes and equity in income (loss) of subsidiaries (3,186 ) 753,521 65,688 — 816,023 Income tax (expense) benefit 1,210 (297,485 ) (25,658 ) — (321,933 ) Income (loss) before equity in income (loss) of subsidiaries (1,976 ) 456,036 40,030 — 494,090 Equity in income (loss) of subsidiaries 496,066 40,484 411,699 (948,249 ) — Net income (loss) 494,090 496,520 451,729 (948,249 ) 494,090 Other comprehensive income (loss) 81 — — — 81 Comprehensive income (loss) $ 494,171 $ 496,520 $ 451,729 $ (948,249 ) $ 494,171 CONSOLIDATING STATEMENT OF CASH FLOWS For the year ended December 31, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) operating activities $ 309,757 $ 328,163 $ 25,157 $ — $ 663,077 Cash flows from investing activities: Capital expenditures — (25,432 ) (6,619 ) — (32,051 ) Investment in unconsolidated subsidiaries — (23,037 ) — — (23,037 ) Other investing activities, net — 5,778 (932 ) — 4,846 Net cash provided by (used in) investing activities — (42,691 ) (7,551 ) — (50,242 ) Cash flows from financing activities: Financial Services borrowings (repayments) — — 106,183 — 106,183 Repayments of debt (123,000 ) (10,301 ) (1,446 ) — (134,747 ) Borrowings under revolving credit facility 2,720,000 — — — 2,720,000 Repayments under revolving credit facility (2,720,000 ) — — — (2,720,000 ) Stock option exercises 27,720 — — — 27,720 Share repurchases (916,323 ) — — — (916,323 ) Dividends paid (112,748 ) — — — (112,748 ) Intercompany activities, net 814,594 (728,555 ) (86,039 ) — — Net cash provided by (used in) financing activities (309,757 ) (738,856 ) 18,698 — (1,029,915 ) Net increase (decrease) — (453,384 ) 36,304 — (417,080 ) Cash, cash equivalents, and restricted cash at beginning of year — 611,185 112,063 — 723,248 Cash, cash equivalents, and restricted cash at end of year $ — $ 157,801 $ 148,367 $ — $ 306,168 CONSOLIDATING STATEMENT OF CASH FLOWS For the year ended December 31, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) operating activities $ 256,722 $ (102,054 ) $ (86,398 ) $ — $ 68,270 Cash flows from investing activities: Capital expenditures — (36,297 ) (2,998 ) — (39,295 ) Investment in unconsolidated subsidiaries — (14,539 ) — — (14,539 ) Cash used for business acquisitions — (430,458 ) — — (430,458 ) Other investing activities, net — 11,189 1,911 — 13,100 Net cash provided by (used in) investing activities — (470,105 ) (1,087 ) — (471,192 ) Cash flows from financing activities: Financial Services borrowings (repayments) — — 63,744 — 63,744 Proceeds from debt issuance 1,991,937 4,000 — — 1,995,937 Repayments of debt (965,245 ) (21,235 ) (439 ) — (986,919 ) 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 (603,206 ) — — — (603,206 ) Dividends paid (124,666 ) — — — (124,666 ) Intercompany activities, net (561,387 ) 541,703 19,684 — — Net cash provided by (used in) financing activities (256,722 ) 524,468 82,989 — 350,735 Net increase (decrease) — (47,691 ) (4,496 ) — (52,187 ) Cash, cash equivalents, and restricted cash at beginning of year — 658,876 116,559 — 775,435 Cash, cash equivalents, and restricted cash at end of year $ — $ 611,185 $ 112,063 $ — $ 723,248 CONSOLIDATING STATEMENT OF CASH FLOWS For the year ended December 31, 2015 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) operating activities $ 185,946 $ (430,940 ) $ (92,596 ) $ — $ (337,590 ) Cash flows from investing activities: Capital expenditures — (41,857 ) (3,583 ) — (45,440 ) Investment in unconsolidated subsidiaries — (454 ) — — (454 ) Other investing activities, net — 2,391 8,939 — 11,330 Net cash provided by (used in) investing activities — (39,920 ) 5,356 — (34,564 ) Cash flows from financing activities: Financial Services borrowings (repayments) — — 127,636 — 127,636 Proceeds from debt issuance 498,087 — — — 498,087 Repayments of debt (237,995 ) (1,198 ) — — (239,193 ) Borrowings under revolving credit facility 125,000 — — — 125,000 Repayments under revolving credit facility (125,000 ) — — — (125,000 ) Stock option exercises 10,535 — — — 10,535 Share repurchases (442,738 ) — — — (442,738 ) Dividends paid (115,958 ) — — — (115,958 ) Intercompany activities, net 90,959 (27,886 ) (63,073 ) — — Net cash provided by (used in) financing activities (197,110 ) (29,084 ) 64,563 — (161,631 ) Net increase (decrease) (11,164 ) (499,944 ) (22,677 ) — (533,785 ) Cash, cash equivalents, and restricted cash at beginning of year 11,164 1,158,820 139,236 — 1,309,220 Cash, cash equivalents, and restricted cash at end of year $ — $ 658,876 $ 116,559 $ — $ 775,435

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Quarterly results (unaudited)	Quarterly results (unaudited) UNAUDITED QUARTERLY INFORMATION (000’s omitted, except per share data) 1st 2nd 3rd 4th Total (a) 2017 Homebuilding: Revenues $ 1,587,061 $ 1,973,571 $ 2,083,067 $ 2,737,391 $ 8,381,090 Cost of revenues (b) (1,220,906 ) (1,637,536 ) (1,589,728 ) (2,147,431 ) (6,595,601 ) Income before income taxes (c) 125,762 103,599 250,463 385,508 865,332 Financial Services: Revenues $ 41,767 $ 47,275 $ 46,952 $ 56,166 $ 192,160 Income before income taxes 13,503 18,948 17,786 23,259 73,496 Consolidated results: Revenues $ 1,628,828 $ 2,020,846 $ 2,130,019 $ 2,793,557 $ 8,573,250 Income before income taxes 139,265 122,547 268,249 408,767 938,828 Income tax expense (47,747 ) (21,798 ) (90,710 ) (331,352 ) (491,607 ) Net income $ 91,518 $ 100,749 $ 177,539 $ 77,415 $ 447,221 Net income per share: Basic $ 0.29 $ 0.32 $ 0.59 $ 0.26 $ 1.45 Diluted $ 0.28 $ 0.32 $ 0.58 $ 0.26 $ 1.44 Number of shares used in calculation: Basic 317,756 312,315 298,538 292,174 305,089 Effect of dilutive securities 2,329 1,565 1,690 1,318 1,725 Diluted 320,085 313,880 300,228 293,492 306,814 (a) Due to rounding, the sum of quarterly results may not equal the total for the year. Additionally, quarterly and year-to-date computations of per share amounts are made independently. (b) Cost of revenues includes land inventory impairments of $31.5 million and $57.5 million in the 2nd and 4th Quarters, respectively (see Note 2 ); net realizable value adjustments on land held for sale of $81.0 million in the 2nd Quarter (see Note 2 ); and a warranty charge of $12.4 million related to a closed-out community in the 2nd Quarter (see Note 11 ). (c) Homebuilding income before income taxes includes an $8.0 million impairment of an investment in an unconsolidated entity in the 2nd Quarter (see Note 2 ); write-offs of insurance receivables of $15.0 million , $5.3 million , and $9.3 million for the 1st, 3rd, and 4th Quarters, respectively (see Note 11 ); and reversals of general liability insurance reserves of $19.8 million and $75.3 million in the 2nd and 4th Quarters, respectively (see Note 11 ). UNAUDITED QUARTERLY INFORMATION (000’s omitted, except per share data) 1st 2nd 3rd 4th Total (a) 2016 Homebuilding: Revenues $ 1,396,730 $ 1,756,832 $ 1,894,885 $ 2,438,903 $ 7,487,350 Cost of revenues (1,040,056 ) (1,314,972 ) (1,429,133 ) (1,835,928 ) (5,620,089 ) Income before income taxes (b) 108,433 172,546 191,063 388,724 860,766 Financial Services: Revenues $ 35,848 $ 43,082 $ 48,020 $ 54,175 $ 181,126 Income before income taxes 9,780 17,034 21,272 24,997 73,084 Consolidated results: Revenues $ 1,432,578 $ 1,799,914 $ 1,942,905 $ 2,493,078 $ 7,668,476 Income before income taxes 118,213 189,580 212,335 413,721 933,850 Income tax expense (34,913 ) (71,820 ) (83,865 ) (140,549 ) (331,147 ) Net income $ 83,300 $ 117,760 $ 128,470 $ 273,172 $ 602,703 Net income per share: Basic $ 0.24 $ 0.34 $ 0.37 $ 0.83 $ 1.76 Diluted $ 0.24 $ 0.34 $ 0.37 $ 0.83 $ 1.75 Number of shares used in calculation: Basic 347,815 345,240 340,171 325,975 339,747 Effect of dilutive securities 2,662 2,759 2,250 1,834 2,376 Diluted 350,477 347,999 342,421 327,809 342,123 (a) Due to rounding, the sum of quarterly results may not equal the total for the year. Additionally, quarterly and year-to-date computations of per share amounts are made independently. (b) Homebuilding income before income taxes includes a charge of $15.0 million in the 3rd Quarter related to the settlement of a disputed land transaction (see Note 11 ) and an adjustment to general liability insurance reserves relating to a reserve reversal of $55.2 million in the 4th Quarter.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Consolidation Policy	The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles and include the accounts of PulteGroup, Inc. and all of its direct and indirect subsidiaries and variable interest entities in which PulteGroup, Inc. is deemed to be the primary beneficiary. All significant intercompany accounts, transactions, and balances have been eliminated in consolidation.
Business Combinations Policy [Policy Text Block]	Business acquisitions 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 Policy	The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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.
Reclassification, Policy [Policy Text Block]	Effective with our fourth quarter 2017 reporting, we reclassified limited recourse notes payable to notes payable from accrued and other liabilities and also reclassified certain timing differences between deferred tax assets and deferred tax liabilities. All prior period amounts have been reclassified to conform to the current presentation.
Subsequent Events Policy	We evaluated subsequent events up until the time the financial statements were filed with the Securities and Exchange Commission ("SEC").
Cash and Equivalents Policy	Cash and equivalents include institutional money market investments and time deposits with a maturity of three months or less when acquired. Cash and equivalents at December 31, 2017 and 2016 also included $80.3 million and $66.5 million , respectively, of cash from home closings held in escrow for our benefit, typically for less than five days, which are considered deposits in-transit.
Restricted Cash Policy	We maintain certain cash balances that are restricted as to their use, including customer deposits on home sales that are temporarily restricted by regulatory requirements until title transfers to the homebuyer. Total cash, cash equivalents, and restricted cash includes restricted cash balances of $33.5 million and $24.4 million at December 31, 2017 and 2016 , respectively.
Investments in Unconsolidated Entities Policy	We have investments in a number of unconsolidated entities, including joint ventures, with independent third parties. The equity method of accounting is used for unconsolidated entities over which we have significant influence; generally this represents ownership interests of at least 20% and not more than 50%. Under the equity method of accounting, we recognize our proportionate share of the earnings and losses of these entities. Certain of these entities sell land to us. We defer the recognition of profits from such activities until the time we ultimately sell the related land. We evaluate our investments in unconsolidated entities for recoverability in accordance with Accounting Standards Codification (“ASC”) 323, “Investments – Equity Method and Joint Ventures” (“ASC 323”). If we determine that a loss in the value of the investment is other than temporary, we write down the investment to its estimated fair value. Any such losses are recorded to equity in (earnings) loss of unconsolidated entities, which is reflected in other expense, net. Due to uncertainties in the estimation process and the significant volatility in demand for new housing, actual results could differ significantly from such estimates. See Note 4 .
Intangible Assets Policy	Goodwill, which represents the cost of acquired businesses in excess of the fair value of the net assets of such businesses at the acquisition date, was recorded as the result of the Wieland acquisition and totaled $40.4 million at December 31, 2017 and 2016 . We assess goodwill for impairment annually in the fourth quarter and if events or changes in circumstances indicate the carrying amount may not be recoverable. Intangible assets also include tradenames acquired in connection with the 2016 acquisition of Wieland, the 2009 acquisition of Centex, and the 2001 acquisition of Del Webb, all of which are being amortized over 20 -year lives. The acquired cost and accumulated amortization of our tradenames were $277.0 million and $176.4 million , respectively, at December 31, 2017 , and $277.0 million and $162.6 million , respectively, at December 31, 2016 . Amortization expense totaled $13.8 million , $13.8 million and $12.9 million in 2017 , 2016 , and 2015 , respectively, and is expected to be $13.8 million in 2018, $13.8 million in 2019, $13.8 million in 2020, $10.4 million in 2021, and $5.7 million in 2022. The ultimate realization of these assets is dependent upon the future cash flows and benefits that we expect to generate from their use. We assess tradenames for impairment if events or changes in circumstances indicate the carrying amount may not be recoverable.
Property and Equipment, Net and Depreciation Policy	Property and equipment are recorded at cost. Maintenance and repair costs are expensed as incurred. Depreciation is computed by the straight-line method based upon estimated useful lives as follows: model home furniture - two years; office furniture and equipment - three to ten years; and leasehold improvements - life of the lease. Property and equipment are included in other assets and totaled $70.7 million net of accumulated depreciation of $206.5 million at December 31, 2017 and $77.4 million net of accumulated depreciation of $192.9 million at December 31, 2016 . Depreciation expense totaled $37.2 million , $40.2 million , and $33.3 million in 2017 , 2016 , and 2015 , respectively.
Advertising Costs Policy	Advertising costs are expensed to selling, general, and administrative expense as incurred and totaled $45.0 million , $50.7 million , and $45.3 million , in 2017 , 2016 , and 2015 , respectively.
Employee Benefits Policy	We maintain a defined contribution retirement plan that covers substantially all of our employees. Company contributions to the plan totaled $15.7 million , $14.6 million , and $12.6 million in 2017 , 2016 , and 2015 , respectively.
Earnings Per Share Policy	Basic earnings per share is computed by dividing income available to common shareholders (the “Numerator”) by the weighted-average number of common shares, 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 of our common shares are considered anti-dilutive and excluded from the diluted earnings per share calculation. Our earnings per share excluded 0.1 million , 1.8 million , and 3.9 million potentially dilutive instruments in 2017 , 2016 , and 2015 , respectively. In accordance with ASC 260 "Earnings Per Share" ("ASC 260"), the two-class method determines earnings per share for each class of common share 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
Share-based Compensation Policy	We measure compensation cost for restricted shares and restricted share units at fair value on the grant date. Fair value is determined based on the quoted price of our common shares on the grant date. We recognize compensation expense for restricted shares and restricted share units, the majority of which cliff vest at the end of three years , ratably over the vesting period. For share-based awards containing performance conditions, we recognize compensation expense ratably over the vesting period when it is probable that the stated performance targets will be achieved and record cumulative adjustments in the period in which estimates change. Compensation expense related to our share-based awards is included in selling, general, and administrative expense, except for a small portion recognized in Financial Services expenses. See Note 7 .
Income Taxes Policy	The provision for income taxes is calculated using the asset and liability method, under which deferred tax assets and liabilities are recognized by identifying the temporary differences arising from the different treatment of items for tax and accounting purposes. In assessing the realizability of deferred tax assets, we consider whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is primarily dependent upon the generation of future taxable income. In determining the future tax consequences of events that have been recognized in the financial statements or tax returns, judgment is required. Differences between the anticipated and actual outcomes of these future tax consequences could have a material impact on our consolidated results of operations or financial position. 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. We follow the provisions of ASC 740 which prescribes a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. Significant judgment is required to evaluate uncertain tax positions. Our evaluations of tax positions consider a variety of factors, including changes in facts or circumstances, changes in law, correspondence with taxing authorities, and effective settlements of audit issues. Changes in the recognition or measurement of uncertain tax positions could result in material increases or decreases in income tax expense (benefit) in the period in which the change is made. Interest and penalties related to unrecognized tax benefits are recognized as a component of income tax expense (benefit). See Note 8 .
Homebuilding Revenue Recognition Policy	Homebuilding revenue and related profit are generally recognized when title to and possession of the property are transferred to the homebuyer. In situations where the homebuyer’s financing is originated by Pulte Mortgage and the homebuyer has not made an adequate initial or continuing investment, the profit on such sale is deferred until the sale of the related loan to a third-party investor has been completed. If there is a loss on the sale of the property, the loss on such sale is recognized at the time of closing. The amount of such deferred profits was not material at either December 31, 2017 or 2016 .
Sales Incentives Policy	When sales incentives involve a discount on the selling price of the home, we record the discount as a reduction of revenue at the time of house closing. If the sales incentive requires us to provide a free product or service to the customer, the cost of the free product or service is recorded as cost of revenues at the time of house closing. This includes the cost related to optional upgrades and seller-paid financing costs, closing costs, homeowners’ association fees, or merchandise.
Inventory and Cost of Revenues Policy	Inventory is stated at cost unless the carrying value is determined to not be recoverable, in which case the affected inventory is written down to fair value. Cost includes land acquisition, land development, and home construction costs, including interest, real estate taxes, and certain direct and indirect overhead costs related to development and construction. For those communities for which construction and development activities have been idled, applicable interest and real estate taxes are expensed as incurred. Land acquisition and development costs are allocated to individual lots using an average lot cost determined based on the total expected land acquisition and development costs and the total expected home closings for the community. The specific identification method is used to accumulate home construction costs. We capitalize interest cost into homebuilding inventories. Each layer of capitalized interest is amortized over a period that approximates the average life of communities under development. Interest expense is allocated over the period based on the timing of home closings. Cost of revenues includes the construction cost, average lot cost, estimated warranty costs, and closing costs applicable to the home. Sales commissions are classified within selling, general, and administrative expenses. The construction cost of the home includes amounts paid through the closing date of the home, plus an accrual for costs incurred but not yet paid. Total community land acquisition and development costs are based on an analysis of budgeted costs compared with actual costs incurred to date and estimates to complete. The development cycles for our communities range from under one year to in excess of ten years for certain master planned communities. Adjustments to estimated total land acquisition and development costs for the community affect the amounts costed for the community’s remaining lots. 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. Such indicators include gross margins or sales paces significantly below expectations, construction costs or land development costs significantly in excess of budgeted amounts, significant delays or changes in the planned development for the community, and other known qualitative factors. Communities that demonstrate potential impairment indicators are tested for impairment by comparing the expected undiscounted cash flows for the community to its carrying value. For those communities whose carrying values exceed the expected undiscounted cash flows, we estimate the fair value of the community, and impairment charges are recorded if the fair value of the community's inventory is less than its carrying value. We generally determine the fair value of a community's inventory using a combination of discounted cash flow models and market comparable transactions, where available. These estimated cash flows are significantly impacted by 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 discounted cash flow models are specific to each community. 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 many communities, and potential changes in our strategy related to certain communities, actual results could differ significantly from such estimates. See
Land Held for Sale Policy	We periodically elect to sell parcels of land to third parties in the event such assets no longer fit into our strategic operating plans or are zoned for commercial or other development. Land held for sale is recorded at the lower of cost or fair value less costs to sell. In determining the value of land held for sale, we consider recent offers received, prices for land in recent comparable sales transactions, and other factors. We record net realizable value adjustments for land held for sale within Homebuilding land sale cost of revenues. See Note 2
Land Option Agreements Policy	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 may serve to reduce 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. See Note 2 . 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 December 31, 2017 or 2016 because we determined that we were not the primary beneficiary. Our maximum exposure to loss related to these VIEs is generally limited to our deposits and pre-acquisition costs under the applicable land option agreements.
Start-up Costs Policy	Costs and expenses associated with opening new communities are expensed to selling, general, and administrative expenses as incurred.
Allowance for Warranties Policy	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 10 years. We estimate the costs to be incurred under these warranties and record a liability in the amount of such costs at the time revenue is recognized
Self-insured Risks Policy	We maintain, and require the majority of our subcontractors to maintain, general liability insurance coverage, including coverage for certain construction defects. 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, subject to certain self-insured per occurrence and aggregate retentions, deductibles, and available policy limits. However, we retain a significant portion of the overall risk for such claims. We reserve for these costs 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, which include estimates of claims incurred but not yet reported. Adjustments to estimated reserves are recorded in the period in which the change in estimate occurs. In certain instances, we have the ability to recover a portion of our costs under various insurance policies or from our subcontractors or other third parties. Estimates of such amounts are recorded when recovery is considered probable. See Note 11 .
Residential Mortgage Loans Available for Sale Policy	Substantially all of the loans originated by us and their related servicing rights are sold in the secondary mortgage market within a short period of time after origination, generally within 30 days. In accordance with ASC 825, “Financial Instruments” (“ASC 825”), we use the fair value option to record residential mortgage loans available-for-sale. Election of the fair value option for these loans allows a better offset of the changes in fair values of the loans and the derivative instruments used to economically hedge them without having to apply complex hedge accounting provisions. We do not designate any derivative instruments as hedges or apply the hedge accounting provisions of ASC 815, “Derivatives and Hedging.” See Note 11 for discussion of the risks retained related to mortgage loan originations. Expected gains and losses from the sale of residential mortgage loans and their related servicing rights are included in the measurement of written loan commitments that are accounted for at fair value through Financial Services revenues at the time of commitment. Subsequent changes in the fair value of these loans are reflected in Financial Services revenues as they occur. At December 31, 2017 and 2016 , residential mortgage loans available-for-sale had an aggregate fair value of $570.6 million and $539.5 million , respectively, and an aggregate outstanding principal balance of $553.5 million and $529.7 million , respectively. The net gain (loss) resulting from changes in fair value of these loans totaled $(2.2) million and $2.8 million for the years ended December 31, 2017 and 2016 , respectively. These changes in fair value were substantially offset by changes in fair value of the corresponding hedging instruments. Net gains from the sale of mortgages during 2017 , 2016 , and 2015 were $110.9 million , $109.6 million , and $80.8 million , respectively, and have been included in Financial Services revenues.
Mortgage Servicing Rights Policy	We sell the servicing rights for the loans we originate through fixed price servicing sales contracts to reduce the risks and costs inherent in servicing loans. This strategy results in owning the servicing rights for only a short period of time. We recognize the fair value of our rights to service a loan as revenue at the time of entering into an interest rate lock commitment with a borrower. Due to the short period of time the servicing rights are held, we do not amortize the servicing asset. The servicing sales contracts provide for the reimbursement of payments made by the purchaser if loans prepay within specified periods of time, generally within 90 to 120 days after sale. We establish reserves for this liability at the time the sale is recorded. Such reserves were immaterial at December 31, 2017 and 2016 .
Loans Held for Investment Policy	We maintain a portfolio of loans that either have been repurchased from investors or were not saleable upon closing. We have the intent and ability to hold these loans for the foreseeable future or until maturity or payoff. These loans are reviewed annually for impairment, or when recoverability becomes doubtful. Loans held for investment are included in other assets and totaled $11.2 million and $8.4 million at December 31, 2017 and 2016 , respectively.
Interest Income on Mortgage Loans Policy	Interest income on mortgage loans is recorded in Financial Services revenues, accrued from the date a mortgage loan is originated until the loan is sold, and totaled $9.5 million , $8.0 million , and $6.9 million in 2017 , 2016 , and 2015 , respectively. Loans are placed on non-accrual status once they become greater than 90 days past due their contractual terms. Subsequent payments received are applied according to the contractual terms of the loan. Mortgage discounts are not amortized as interest income due to the short period the loans are held until sale to third party investors
Mortgage Servicing, Origination, and Commitment Fees Policy
Title Services Policy	Revenues associated with our title operations are recognized within Financial Services revenues as closing services are rendered and title insurance policies are issued, both of which generally occur as each home is closed.
Derivative Instruments and Hedging Activities Policy	We are party to interest rate lock commitments ("IRLCs") with customers resulting from our mortgage origination operations. At December 31, 2017 and 2016 , we had aggregate IRLCs of $210.9 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 December 31, 2017 and 2016 , we had unexpired forward contracts of $522.0 million and $610.0 million , respectively, and whole loan investor commitments of $203.1 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 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 Policy	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 we will apply the modified retrospective method of adoption to contracts that are not completed as of the date of initial adoption. We have substantially completed our evaluation of the impact of adopting the new revenue standard. Based on our assessment, we do not expect the adoption of ASU 2014-09 to have a material impact on our financial statements. Further, we do not expect significant changes to our business processes, systems, or internal controls as a result of adopting the standard. 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 , as a result of previously unrecognized excess tax benefits (see Note 8 ). Additionally, the impact of recognizing excess tax benefits and deficiencies in the consolidated statement of operations resulted in a $7.7 million reduction in our income tax expense for 2017. The remaining aspects of adopting ASU 2016-09 did not have a material impact on our financial statements. In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" ("ASU 2016-13"), which changes the impairment model for most financial assets and certain other instruments from an "incurred loss" approach to a new "expected credit loss" methodology and also requires that credit losses from available-for-sale debt securities be presented as an allowance instead of a write-down. ASU 2016-13 is effective for us for annual and interim periods beginning January 1, 2020, with early adoption permitted, and requires full retrospective application on adoption. We are currently evaluating the impact the standard will have on our financial statements. In August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments" ("ASU 2016-15"), which addresses several specific cash flow issues. ASU 2016-15 is effective for us for annual and interim periods beginning January 1, 2018, with early adoption permitted, and requires full retrospective application on adoption. We do not expect ASU 2016-15 to have a material impact on our financial statements. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment." ("ASU 2017-04"), which removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for us for annual and interim periods beginning January 1, 2020, with early adoption permitted, and applied prospectively. We do not expect ASU 2017-04 to have a material impact on our financial statements.
Inventory, Interest Capitalization Policy	We capitalize interest cost into homebuilding inventories. Each layer of capitalized interest is amortized over a period that approximates the average life of communities under development. Interest expense is allocated over the period based on the timing of home closings. In all periods presented, we capitalized all Homebuilding interest costs into inventory because the level of our active inventory exceeded our debt levels
Fair Value of Financial Instruments Policy	Fair values for agency residential mortgage loans available-for-sale are determined based on quoted market prices for comparable instruments. Fair values for non-agency residential mortgage loans available-for-sale are determined based on purchase commitments from whole loan investors and other relevant market information available to management. Fair values for interest rate lock commitments, including the value of servicing rights, 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 value 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 1 for a more detailed discussion of the valuation methods used for inventory. The carrying amounts of cash and equivalents, Financial Services debt, Other notes payable and the Revolving Credit Facility approximate their fair values due to their short-term nature and floating interest rate terms. The fair values of the Senior notes payable 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
Financing Receivables Policy	We record receivables from various parties in the normal course of business, including amounts due from insurance companies (see Note 11 ), municipalities, and vendors. In certain instances, we may accept consideration for land sales or other transactions in the form of a note receivable
Legal Reserves Policy		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 2016, we settled a contract dispute related to a land transaction that we terminated over ten years ago 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. In September 2012, Applecross Club Operations ("Applecross") filed a complaint for breach of contract and promissory estoppel in Applecross v. Pulte Homes of PA, et al. The complaint alleged that we induced Applecross to purchase a golf course from us in 2010 by promising to build over 1,000 residential units in a planned community located outside Philadelphia, Pennsylvania. In September 2015, the jury in the case found in favor of Applecross and awarded damages in the amount of $20.0 million , which we recorded to other expense, net. We have appealed the award and accrued the interest that would be applicable under the award since the date of the verdict.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Schedule of Other Expense (Income), Net	Other expense, net consists of the following ($000’s omitted): 2017 2016 2015 Write-offs of deposits and pre-acquisition costs (Note 2) $ 11,367 $ 17,157 $ 5,021 Lease exit and related costs (a) 1,729 11,643 2,463 Amortization of intangible assets (Note 1) 13,800 13,800 12,900 Interest income (2,537 ) (3,236 ) (3,107 ) Interest expense 503 686 788 Equity in (earnings) loss of unconsolidated entities ( Note 4 ) (b) 1,985 (8,337 ) (7,355 ) Miscellaneous, net (c) 1,104 17,101 6,653 Total other expense, net $ 27,951 $ 48,814 $ 17,363 (a) Lease exit and related costs 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 2017 (see Note 2 ). (c) Miscellaneous, net includes a charge of $15.0 million in 2016 related to the settlement of a disputed land transaction and a charge of $20.0 million in 2015 resulting from the Applecross matter (see Note 11 ).
Schedule of Earnings Per Share of Common Stock	The following table presents the earnings per common share (000's omitted, except per share data): December 31, 2017 December 31, 2016 December 31, 2015 Numerator: Net income $ 447,221 $ 602,703 $ 494,090 Less: earnings distributed to participating securities (1,192 ) (1,100 ) (755 ) Less: undistributed earnings allocated to participating securities (3,380 ) (3,622 ) (2,448 ) Numerator for basic earnings per share $ 442,649 $ 597,981 $ 490,887 Add back: undistributed earnings allocated to participating securities 3,380 3,622 2,448 Less: undistributed earnings reallocated to participating securities (3,361 ) (3,602 ) (2,429 ) Numerator for diluted earnings per share $ 442,668 $ 598,001 $ 490,906 Denominator: Basic shares outstanding 305,089 339,747 356,576 Effect of dilutive securities 1,725 2,376 3,217 Diluted shares outstanding 306,814 342,123 359,793 Earnings per share: Basic $ 1.45 $ 1.76 $ 1.38 Diluted $ 1.44 $ 1.75 $ 1.36
Schedule Of Company Interests In Land Option Agreements	The following provides a summary of our interests in land option agreements ($000’s omitted): December 31, 2017 December 31, 2016 Deposits and Remaining Purchase Deposits and Remaining Purchase Land options with VIEs $ 78,889 $ 977,480 $ 68,527 $ 849,901 Other land options 129,098 1,485,099 126,909 1,252,662 $ 207,987 $ 2,462,579 $ 195,436 $ 2,102,563
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The fair values of derivative instruments and their location in the Consolidated Balance Sheets are summarized below ($000’s omitted): December 31, 2017 December 31, 2016 Other Assets Other Liabilities Other Assets Other Liabilities Interest rate lock commitments $ 5,990 $ 407 $ 9,194 $ 501 Forward contracts 432 817 8,085 1,004 Whole loan commitments 794 941 1,135 863 $ 7,216 $ 2,165 $ 18,414 $ 2,368

Inventory And Land Held For S23

Inventory And Land Held For Sale (Tables)	12 Months Ended
	Dec. 31, 2017
Inventory Disclosure [Abstract]
Components of Inventory	Major components of inventory at December 31, 2017 and 2016 were ($000’s omitted): 2017 2016 Homes under construction $ 2,421,405 $ 1,921,259 Land under development 4,135,814 4,072,109 Raw land 589,911 777,287 $ 7,147,130 $ 6,770,655
Capitalized Interest Rollforward	Activity related to interest capitalized into inventory is as follows ($000’s omitted): Years Ended December 31, 2017 2016 2015 Interest in inventory, beginning of period $ 186,097 $ 149,498 $ 167,638 Interest capitalized 181,719 160,506 120,001 Interest expensed (141,205 ) (123,907 ) (138,141 ) Interest in inventory, end of period $ 226,611 $ 186,097 $ 149,498
Land-related Charges	recorded the following land-related charges ($000's omitted): Statement of Operations Classification 2017 2016 2015 Land impairments Home sale cost of revenues $ 88,952 $ 1,074 $ 7,347 Net realizable value adjustments ("NRV") - land held for sale Land sale cost of revenues 83,576 1,105 (901 ) Impairments of unconsolidated entities Other expense, net 8,017 — — Write-offs of deposits and pre-acquisition costs Other expense, net 11,367 17,157 5,021 Total land-related charges $ 191,912 $ 19,336 $ 11,467
Land Held for Sale	Land held for sale at December 31, 2017 and 2016 was as follows ($000’s omitted): 2017 2016 Land held for sale, gross $ 142,070 $ 38,157 Net realizable value reserves (73,686 ) (6,429 ) Land held for sale, net $ 68,384 $ 31,728

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Operating Data By Reporting Segment	Operating Data by Segment ($000’s omitted) Years Ended December 31, 2017 2016 2015 Revenues: Northeast $ 693,624 $ 696,463 $ 682,112 Southeast (a) 1,563,322 1,491,270 1,058,089 Florida 1,493,953 1,284,753 1,019,733 Midwest 1,449,466 1,234,650 1,020,691 Texas 1,167,750 1,034,673 845,772 West 2,012,975 1,745,541 1,214,814 8,381,090 7,487,350 5,841,211 Financial Services 192,160 181,126 140,753 Consolidated revenues $ 8,573,250 $ 7,668,476 $ 5,981,964 Income before income taxes (b) : Northeast (c) $ 21,190 $ 81,991 $ 82,616 Southeast (a) 122,532 145,011 172,330 Florida (d) 208,825 205,049 196,525 Midwest 178,231 120,159 91,745 Texas 182,862 152,355 121,329 West 229,504 225,771 169,394 Other homebuilding (e) (77,812 ) (69,570 ) (76,622 ) 865,332 860,766 757,317 Financial Services (f) 73,496 73,084 58,706 Consolidated income before income taxes $ 938,828 $ 933,850 $ 816,023 (a) Southeast includes the acquisition in January 2016 of substantially all of the assets of Wieland (see Note 1 ). (b) Includes land-related charges of $191.9 million , $19.3 million and $11.5 million in 2017 , 2016 , and 2015 , respectively (see Note 2 ). (c) Northeast includes a charge of $15.0 million in 2016 related to the settlement of a disputed land transaction and a charge of $20.0 million in 2015 resulting from the Applecross matter (see Note 11 ). (d) Florida includes a warranty charge of $12.4 million in 2017 related to a closed-out community (see Note 11 ). (e) Other homebuilding includes the amortization of intangible assets, amortization of capitalized interest, and other items not allocated to the operating segments. Also includes: write-offs of $29.6 million of insurance receivables associated with the resolution of certain insurance matters in 2017; adjustments to general liability insurance reserves of $95.1 million in 2017 , $55.2 million in 2016 , and $62.2 million in 2015 (see Note 11 ); and costs associated with the relocation of our corporate headquarters totaling $8.3 million and $4.4 million in 2016 and 2015 , respectively. (f) Financial Services included reductions in loan origination liabilities totaling $11.4 million in 2015 (see Note 11 ).
Land-Related Charges By Reporting Segment	Operating Data by Segment ($000's omitted) 2017 2016 2015 Land-related charges*: Northeast $ 51,362 $ 2,079 $ 3,301 Southeast 55,689 3,089 3,022 Florida 9,702 715 4,555 Midwest 8,917 3,383 2,319 Texas 2,521 515 295 West 56,995 8,960 (2,615 ) Other homebuilding 6,726 595 590 $ 191,912 $ 19,336 $ 11,467 * Land-related charges include land impairments, net realizable value adjustments for land held for sale, and write-offs of deposits and pre-acquisition costs for land option contracts we elected not to pursue. Other homebuilding consists primarily of write-offs of capitalized interest related to such land-related charges. See Note 2 for additional discussion of these charges.
Depreciation and Amortization Expense by Reporting Segment	Operating Data by Segment ($000's omitted) Years Ended December 31, 2017 2016 2015 Depreciation and amortization: Northeast $ 2,392 $ 2,133 $ 1,682 Southeast 5,117 5,350 3,492 Florida 4,883 4,955 3,536 Midwest 4,449 5,099 5,019 Texas 3,301 3,673 2,928 West 5,828 6,739 5,995 Other homebuilding (a) 21,326 22,467 20,254 47,296 50,416 42,906 Financial Services 3,702 3,591 3,316 $ 50,998 $ 54,007 $ 46,222 (a) Other homebuilding includes amortization of intangible assets
Equity in (Earnings) Loss of Unconsolidated Entities by Reporting Segment	Operating Data by Segment ($000's omitted) Years Ended December 31, 2017 2016 2015 Equity in (earnings) loss of unconsolidated entities: Northeast $ — $ 2 $ 2 Southeast — — — Florida (8 ) (10 ) 2 Midwest (513 ) 78 (337 ) Texas — — — West (a) 4,913 (6,759 ) (5,107 ) Other homebuilding (1,782 ) (1,117 ) (1,915 ) 2,610 (7,806 ) (7,355 ) Financial Services (625 ) (531 ) — $ 1,985 $ (8,337 ) $ (7,355 ) (a) Includes an $8.0 million impairment of an investment in an unconsolidated entity in 2017 (see Note 2 ). Operating Data by Segment ($000's omitted) December 31, 2017 Homes Under Land Under Raw Land Total Total Northeast $ 234,413 $ 327,599 $ 73,574 $ 635,586 $ 791,511 Southeast 433,411 613,626 121,238 1,168,275 1,287,992 Florida 359,651 876,856 109,069 1,345,576 1,481,837 Midwest 299,896 476,694 28,482 805,072 877,282 Texas 251,613 435,018 87,392 774,023 859,847 West 798,706 1,137,940 147,493 2,084,139 2,271,328 Other homebuilding (b) 43,715 268,081 22,663 334,459 1,469,234 2,421,405 4,135,814 589,911 7,147,130 9,039,031 Financial Services — — — — 647,618 $ 2,421,405 $ 4,135,814 $ 589,911 $ 7,147,130 $ 9,686,649 December 31, 2016 Homes Under Land Under Raw Land Total Total Northeast $ 175,253 $ 375,899 $ 135,447 $ 686,599 $ 798,369 Southeast (a) 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 (b) 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 December 31, 2015 Homes Under Land Under Raw Land Total Total Northeast $ 163,173 $ 292,631 $ 121,522 $ 577,326 $ 688,610 Southeast 196,456 367,577 139,246 703,279 765,933 Florida 227,910 574,092 97,185 899,187 1,013,543 Midwest 197,738 414,386 68,918 681,042 734,834 Texas 191,424 317,702 107,737 616,863 691,342 West 413,208 1,094,112 222,920 1,730,240 1,924,958 Other homebuilding (b) 18,351 198,566 25,204 242,121 2,861,197 1,408,260 3,259,066 782,732 5,450,058 8,680,417 Financial Services — — — — 508,989 $ 1,408,260 $ 3,259,066 $ 782,732 $ 5,450,058 $ 9,189,406
Total Assets And Inventory By Reporting Segment	Operating Data by Segment ($000's omitted) December 31, 2017 Homes Under Land Under Raw Land Total Total Northeast $ 234,413 $ 327,599 $ 73,574 $ 635,586 $ 791,511 Southeast 433,411 613,626 121,238 1,168,275 1,287,992 Florida 359,651 876,856 109,069 1,345,576 1,481,837 Midwest 299,896 476,694 28,482 805,072 877,282 Texas 251,613 435,018 87,392 774,023 859,847 West 798,706 1,137,940 147,493 2,084,139 2,271,328 Other homebuilding (b) 43,715 268,081 22,663 334,459 1,469,234 2,421,405 4,135,814 589,911 7,147,130 9,039,031 Financial Services — — — — 647,618 $ 2,421,405 $ 4,135,814 $ 589,911 $ 7,147,130 $ 9,686,649 December 31, 2016 Homes Under Land Under Raw Land Total Total Northeast $ 175,253 $ 375,899 $ 135,447 $ 686,599 $ 798,369 Southeast (a) 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 (b) 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 December 31, 2015 Homes Under Land Under Raw Land Total Total Northeast $ 163,173 $ 292,631 $ 121,522 $ 577,326 $ 688,610 Southeast 196,456 367,577 139,246 703,279 765,933 Florida 227,910 574,092 97,185 899,187 1,013,543 Midwest 197,738 414,386 68,918 681,042 734,834 Texas 191,424 317,702 107,737 616,863 691,342 West 413,208 1,094,112 222,920 1,730,240 1,924,958 Other homebuilding (b) 18,351 198,566 25,204 242,121 2,861,197 1,408,260 3,259,066 782,732 5,450,058 8,680,417 Financial Services — — — — 508,989 $ 1,408,260 $ 3,259,066 $ 782,732 $ 5,450,058 $ 9,189,406 (a) Southeast includes the acquisition in January 2016 of substantially all of the assets of Wieland (see Note 1 ). (b) Other homebuilding primarily includes cash and equivalents, capitalized interest, intangibles, deferred tax assets, and other corporate items that are not allocated to the operating segments.

Investments In Unconsolidated25

Investments In Unconsolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Summary of Joint Ventures	A summary of our joint ventures is presented below ($000’s omitted): December 31, 2017 2016 Investments in Joint ventures with limited recourse debt $ 37,063 $ — Investments in joint ventures with debt non-recourse to PulteGroup 3,567 33,436 Investments in other active joint ventures 22,327 18,011 Total investments in unconsolidated entities $ 62,957 $ 51,447 Total joint venture debt $ 59,544 $ 4,605 PulteGroup proportionate share of joint venture debt: Joint venture debt with limited recourse guaranties $ 28,157 $ — Joint venture debt non-recourse to PulteGroup 700 1,349 PulteGroup's total proportionate share of joint venture debt $ 28,857 $ 1,349

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Schedule of Senior Notes	Our notes payable are summarized as follows ($000’s omitted): December 31, 2017 2016 7.625% unsecured senior notes due October 2017 $ — $ 123,000 4.250% unsecured senior notes due March 2021 (a) 700,000 700,000 5.500% unsecured senior notes due March 2026 (a) 700,000 700,000 5.000% unsecured senior notes due January 2027 (a) 600,000 600,000 7.875% unsecured senior notes due June 2032 (a) 300,000 300,000 6.375% unsecured senior notes due May 2033 (a) 400,000 400,000 6.000% unsecured senior notes due February 2035 (a) 300,000 300,000 Net premiums, discounts, and issuance costs (b) (13,057 ) (12,984 ) Total senior notes $ 2,986,943 $ 3,110,016 Other notes payable 20,024 19,282 Notes payable $ 3,006,967 $ 3,129,298 Estimated fair value $ 3,263,774 $ 3,131,579 (a) Redeemable prior to maturity; guaranteed on a senior basis by certain wholly-owned subsidiaries. (b) 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
Schedule of Financial Services available credit lines	The following is aggregate borrowing information for our mortgage operations ($000’s omitted): December 31, 2017 2016 Available credit lines $ 475,000 $ 360,000 Unused credit lines $ 37,196 $ 28,379 Weighted-average interest rate 3.55 % 2.89 %

Stock Compensation Plans (Table

Stock Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2017
Share-based Compensation [Abstract]
Stock Compensation Expense by Plan Type	Our stock compensation expense for the three years ended December 31, 2017 , is presented below ($000's omitted): 2017 2016 2015 Stock options $ — $ — $ 37 Restricted shares (including RSUs and performance shares) 24,207 18,626 16,852 Long-term incentive plans 9,476 3,602 7,863 $ 33,683 $ 22,228 $ 24,752
Stock Option Activity Rollforward	A summary of stock option activity for the three years ended December 31, 2017 , is presented below (000’s omitted, except per share data): 2017 2016 2015 Shares Weighted- Average Per Share Exercise Price Shares Weighted- Average Per Share Exercise Price Shares Weighted- Average Per Share Exercise Price Outstanding, beginning of year 3,623 $ 12 6,040 $ 19 9,370 $ 23 Granted — — — — — — Exercised (2,353 ) 12 (498 ) 12 (904 ) 12 Forfeited (102 ) 28 (1,919 ) 34 (2,426 ) 37 Outstanding, end of year 1,168 $ 11 3,623 $ 12 6,040 $ 19 Options exercisable at year end 1,168 $ 11 3,623 $ 12 6,040 $ 19 Weighted-average per share fair value of options granted during the year $ — $ — $ —
Stock Options Weighted-average Remaining Contractual Lives	The following table summarizes information about our options outstanding at December 31, 2017 : Options Outstanding Options Exercisable Number Outstanding (000's omitted) Weighted- Average Remaining Contract Life (in years) Weighted- Average Per Share Exercise Price Number Exercisable (000's omitted) Weighted- Average Per Share Exercise Price $0.01 to $10.00 264 2.9 $ 8 264 $ 8 $10.01 to $20.00 904 1.6 12 904 12 1,168 1.9 $ 11 1,168 $ 11
Restricted Stock, RSUs, and Performance Shares Activity Rollforward	A summary of restricted share activity, including RSUs and performance shares, for the three years ended December 31, 2017 , is presented below (000’s omitted, except per share data): 2017 2016 2015 Shares Weighted- Average Per Share Grant Date Fair Value Shares Weighted- Average Per Share Grant Date Fair Value Shares Weighted- Average Per Share Grant Date Fair Value Outstanding, beginning of year 2,974 $ 19 2,576 $ 18 2,890 $ 15 Granted 1,251 21 1,853 17 932 22 Distributed (775 ) 19 (546 ) 20 (1,090 ) 10 Forfeited (179 ) 19 (909 ) 12 (156 ) 19 Outstanding, end of year 3,271 $ 19 2,974 $ 19 2,576 $ 18 Vested, end of year 152 $ 17 123 $ 15 89 $ 14

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Components of Income Tax Expense (Benefit)	Components of current and deferred income tax expense (benefit) are as follows ($000’s omitted): 2017 2016 2015 Current expense (benefit) Federal $ 81,101 $ 9,464 $ 8,760 State and other (11,801 ) (13,104 ) 1,474 $ 69,300 $ (3,640 ) $ 10,234 Deferred expense (benefit) Federal $ 444,695 $ 312,288 $ 277,895 State and other (22,388 ) 22,499 33,804 $ 422,307 $ 334,787 $ 311,699 Income tax expense (benefit) $ 491,607 $ 331,147 $ 321,933
Effective Income Tax Rate Reconciliation	The following table reconciles the statutory federal income tax rate to the effective income tax rate: 2017 2016 2015 Income taxes at federal statutory rate 35.0 % 35.0 % 35.0 % State and local income taxes, net of federal tax 3.1 3.3 2.8 Changes in tax laws, including the Tax Act 18.3 0.5 0.3 Deferred tax asset valuation allowance (1.1 ) (2.2 ) 0.4 Tax contingencies (1.0 ) (1.3 ) 0.1 Other (1.9 ) 0.2 0.9 Effective rate 52.4 % 35.5 % 39.5 %
Deferred Tax Assets and Liabilities	Components of our net deferred tax asset are as follows ($000’s omitted): At December 31, 2017 2016 Deferred tax assets: Accrued insurance $ 117,133 $ 220,823 Inventory valuation reserves 202,791 359,964 Other reserves 78,271 132,597 NOL carryforwards: Federal 41,282 187,817 State 248,224 224,316 Alternative minimum tax credit carryforwards 54,965 53,917 Energy and other credit carryforwards 41,763 45,673 784,429 1,225,107 Deferred tax liabilities: Capitalized items, including real estate basis differences, deducted for tax, net (17,895 ) (13,054 ) Deferral of profit on home sales (34,769 ) (69,391 ) Intangibles (17,860 ) (28,391 ) (70,524 ) (110,836 ) Valuation allowance (68,610 ) (64,863 ) Net deferred tax asset $ 645,295 $ 1,049,408
Summary of Income Tax Contingencies	A reconciliation of the change in the unrecognized tax benefits is as follows ($000’s omitted): 2017 2016 2015 Unrecognized tax benefits, beginning of period $ 21,502 $ 38,992 $ 32,911 Increases related to tax positions taken during a prior period 20,555 224 5,763 Decreases related to tax positions taken during a prior period (9,665 ) (13,218 ) — Increases related to tax positions taken during the current period 18,895 114 318 Decreases related to settlements with taxing authorities — (707 ) — Reductions as a result of a lapse of the applicable statute of limitations (2,683 ) (3,903 ) — Unrecognized tax benefits, end of period $ 48,604 $ 21,502 $ 38,992

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Our assets and liabilities measured or disclosed at fair value are summarized below ($000’s omitted): Financial Instrument Fair Value Fair Value December 31, December 31, Measured at fair value on a recurring basis: Residential mortgage loans available-for-sale Level 2 $ 570,600 $ 539,496 Interest rate lock commitments Level 2 5,583 8,693 Forward contracts Level 2 (385 ) 7,081 Whole loan commitments Level 2 (147 ) 272 Measured at fair value on a non-recurring basis: House and land inventory Level 3 $ 11,045 $ 8,920 Land held for sale Level 2 8,600 1,670 Disclosed at fair value: Cash and equivalents (including restricted cash) Level 1 $ 306,168 $ 723,248 Financial Services debt Level 2 437,804 331,621 Other notes payable Level 2 20,024 19,282 Senior notes payable Level 2 3,243,750 3,112,297

Other Assets and Accrued and 30

Other Assets and Accrued and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2017
Other Assets and Accrued and Other Liabilities [Abstract]
Schedule of Other Assets	Other assets are presented below ($000’s omitted): December 31, 2017 2016 Accounts and notes receivable: Insurance receivables (Note 11) $ 213,407 $ 307,344 Notes receivable 16,768 29,111 Other receivables 76,309 90,714 306,484 427,169 Prepaid expenses 116,912 106,748 Deposits and pre-acquisition costs (Note 1) 207,987 195,436 Property and equipment, net (Note 1) 70,706 77,444 Income taxes receivable (Note 8) 6,964 9,272 Other 36,070 41,357 $ 745,123 $ 857,426
Schedule of Accrued and Other Liabilities	Accrued and other liabilities are presented below ($000’s omitted): December 31, 2017 2016 Self-insurance liabilities (Note 11) $ 758,812 $ 831,058 Compensation-related liabilities 134,008 123,730 Warranty liabilities (Note 11) 72,709 66,134 Accrued interest 50,620 50,793 Loan origination liabilities (Note 11) 34,641 35,114 Other 305,543 322,883 $ 1,356,333 $ 1,429,712

Commitments And Contingencies (

Commitments And Contingencies (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	The future minimum lease payments required under operating leases that have initial or remaining non-cancelable terms in excess of one year as of December 31, 2017 , are as follows ($000’s omitted): Years Ending December 31, 2018 $ 25,040 2019 23,561 2020 16,798 2021 11,674 2022 9,543 Thereafter 31,509 Total minimum lease payments $ 118,125
Summary of Changes in Loan Origination Liability	Changes in these liabilities were as follows ($000's omitted): 2017 2016 2015 Liabilities, beginning of period $ 35,114 $ 46,381 $ 58,222 Reserves provided (released), net (50 ) 506 (11,433 ) Payments (423 ) (11,773 ) (408 ) Liabilities, end of period $ 34,641 $ 35,114 $ 46,381
Summary of Changes in Warranty Liability	Changes to warranty liabilities were as follows ($000’s omitted): 2017 2016 2015 Warranty liabilities, beginning of period $ 66,134 $ 61,179 $ 65,389 Reserves provided 50,014 67,169 52,684 Payments (58,780 ) (55,892 ) (60,968 ) Other adjustments (a) 15,341 (6,322 ) 4,074 Warranty liabilities, end of period $ 72,709 $ 66,134 $ 61,179
Summary of Changes in Self-insurance Liability	Changes in these liabilities were as follows ($000's omitted): 2017 2016 2015 Balance, beginning of period $ 831,058 $ 924,563 $ 995,692 Net reserves provided 81,503 97,916 80,860 Adjustments to previously recorded reserves (a) (97,789 ) (57,132 ) (64,775 ) Payments, net (b) (55,960 ) (134,289 ) (87,214 ) Balance, end of period $ 758,812 $ 831,058 $ 924,563

Supplemental Guarantor Inform32

Supplemental Guarantor Information (Tables)	12 Months Ended
	Dec. 31, 2017
Supplemental Guarantor Information [Abstract]
Consolidating Balance Sheet	CONSOLIDATING BALANCE SHEET DECEMBER 31, 2017 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor ASSETS Cash and equivalents $ — $ 125,462 $ 147,221 $ — $ 272,683 Restricted cash — 32,339 1,146 — 33,485 Total cash, cash equivalents, and restricted cash — 157,801 148,367 — 306,168 House and land inventory — 7,053,087 94,043 — 7,147,130 Land held for sale — 68,384 — — 68,384 Residential mortgage loans available- for-sale — — 570,600 — 570,600 Investments in unconsolidated entities — 62,415 542 — 62,957 Other assets 9,417 592,045 143,661 — 745,123 Intangible assets — 140,992 — — 140,992 Deferred tax assets, net 646,227 — (932 ) — 645,295 Investments in subsidiaries and intercompany accounts, net 6,661,638 284,983 7,300,127 (14,246,748 ) — $ 7,317,282 $ 8,359,707 $ 8,256,408 $ (14,246,748 ) $ 9,686,649 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Accounts payable, customer deposits, accrued and other liabilities $ 89,388 $ 1,636,913 $ 274,626 $ — $ 2,000,927 Income tax liabilities 86,925 — — — 86,925 Financial Services debt — — 437,804 — 437,804 Notes payable 2,986,943 16,911 3,113 — 3,006,967 Total liabilities 3,163,256 1,653,824 715,543 — 5,532,623 Total shareholders’ equity 4,154,026 6,705,883 7,540,865 (14,246,748 ) 4,154,026 $ 7,317,282 $ 8,359,707 $ 8,256,408 $ (14,246,748 ) $ 9,686,649 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 restricted cash — 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- for-sale — — 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 intercompany accounts, net 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, accrued and other liabilities $ 94,656 $ 1,738,454 $ 189,948 $ — $ 2,023,058 Income tax liabilities 34,860 — — — 34,860 Financial Services debt — — 331,621 — 331,621 Notes payable 3,110,016 17,302 1,980 — 3,129,298 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 (LOSS) For the year ended December 31, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 8,229,392 $ 94,592 $ — $ 8,323,984 Land sale revenues — 53,280 3,826 — 57,106 — 8,282,672 98,418 — 8,381,090 Financial Services — — 192,160 — 192,160 — 8,282,672 290,578 — 8,573,250 Homebuilding Cost of Revenues: Home sale cost of revenues — (6,385,167 ) (75,985 ) — (6,461,152 ) Land sale cost of revenues — (131,363 ) (3,086 ) — (134,449 ) — (6,516,530 ) (79,071 ) — (6,595,601 ) Financial Services expenses — (527 ) (118,762 ) — (119,289 ) Selling, general, and administrative expenses — (785,266 ) (106,315 ) — (891,581 ) Other expense, net (482 ) (58,619 ) 31,150 — (27,951 ) Intercompany interest (2,485 ) — 2,485 — — Income (loss) before income taxes and equity in income (loss) of subsidiaries (2,967 ) 921,730 20,065 — 938,828 Income tax (expense) benefit 1,127 (483,435 ) (9,299 ) — (491,607 ) Income (loss) before equity in income (loss) of subsidiaries (1,840 ) 438,295 10,766 — 447,221 Equity in income (loss) of subsidiaries 449,061 58,559 226,864 (734,484 ) — Net income (loss) 447,221 496,854 237,630 (734,484 ) 447,221 Other comprehensive income (loss) 81 — — — 81 Comprehensive income (loss) $ 447,302 $ 496,854 $ 237,630 $ (734,484 ) $ 447,302 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the year ended December 31, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 7,427,757 $ 23,558 $ — $ 7,451,315 Land sale revenues — 33,598 2,437 — 36,035 — 7,461,355 25,995 — 7,487,350 Financial Services — — 181,126 — 181,126 — 7,461,355 207,121 — 7,668,476 Homebuilding Cost of Revenues: Home sale cost of revenues — (5,566,653 ) (21,321 ) — (5,587,974 ) Land sale cost of revenues — (30,156 ) (1,959 ) — (32,115 ) — (5,596,809 ) (23,280 ) — (5,620,089 ) Financial Services expenses — (533 ) (108,040 ) — (108,573 ) Selling, general, and administrative expenses — (907,748 ) (49,402 ) — (957,150 ) Other expense, net (1,321 ) (69,345 ) 21,852 — (48,814 ) Intercompany interest (1,980 ) — 1,980 — — Income (loss) before income taxes and equity in income (loss) of subsidiaries (3,301 ) 886,920 50,231 — 933,850 Income tax (expense) benefit 1,254 (312,486 ) (19,915 ) — (331,147 ) Income (loss) before equity in income (loss) of subsidiaries (2,047 ) 574,434 30,316 — 602,703 Equity in income (loss) of subsidiaries 604,750 58,078 457,716 (1,120,544 ) — Net income (loss) 602,703 632,512 488,032 (1,120,544 ) 602,703 Other comprehensive income (loss) 83 — — — 83 Comprehensive income (loss) $ 602,786 $ 632,512 $ 488,032 $ (1,120,544 ) $ 602,786 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the year ended December 31, 2015 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor Revenues: Homebuilding Home sale revenues $ — $ 5,792,675 $ — $ — $ 5,792,675 Land sale revenues — 48,536 — — 48,536 — 5,841,211 — — 5,841,211 Financial Services — 1 140,752 — 140,753 — 5,841,212 140,752 — 5,981,964 Homebuilding Cost of Revenues: Home sale cost of revenues — (4,235,945 ) — — (4,235,945 ) Land sale cost of revenues — (35,858 ) — — (35,858 ) — (4,271,803 ) — — (4,271,803 ) Financial Services expenses (313 ) 276 (82,010 ) — (82,047 ) Selling, general, and administrative expenses (3 ) (790,818 ) (3,907 ) — (794,728 ) Other expense, net (760 ) (17,424 ) 821 — (17,363 ) Intercompany interest (2,110 ) (7,922 ) 10,032 — — Income (loss) before income taxes and equity in income (loss) of subsidiaries (3,186 ) 753,521 65,688 — 816,023 Income tax (expense) benefit 1,210 (297,485 ) (25,658 ) — (321,933 ) Income (loss) before equity in income (loss) of subsidiaries (1,976 ) 456,036 40,030 — 494,090 Equity in income (loss) of subsidiaries 496,066 40,484 411,699 (948,249 ) — Net income (loss) 494,090 496,520 451,729 (948,249 ) 494,090 Other comprehensive income (loss) 81 — — — 81 Comprehensive income (loss) $ 494,171 $ 496,520 $ 451,729 $ (948,249 ) $ 494,171
Consolidating Statement Of Cash Flows	CONSOLIDATING STATEMENT OF CASH FLOWS For the year ended December 31, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) operating activities $ 309,757 $ 328,163 $ 25,157 $ — $ 663,077 Cash flows from investing activities: Capital expenditures — (25,432 ) (6,619 ) — (32,051 ) Investment in unconsolidated subsidiaries — (23,037 ) — — (23,037 ) Other investing activities, net — 5,778 (932 ) — 4,846 Net cash provided by (used in) investing activities — (42,691 ) (7,551 ) — (50,242 ) Cash flows from financing activities: Financial Services borrowings (repayments) — — 106,183 — 106,183 Repayments of debt (123,000 ) (10,301 ) (1,446 ) — (134,747 ) Borrowings under revolving credit facility 2,720,000 — — — 2,720,000 Repayments under revolving credit facility (2,720,000 ) — — — (2,720,000 ) Stock option exercises 27,720 — — — 27,720 Share repurchases (916,323 ) — — — (916,323 ) Dividends paid (112,748 ) — — — (112,748 ) Intercompany activities, net 814,594 (728,555 ) (86,039 ) — — Net cash provided by (used in) financing activities (309,757 ) (738,856 ) 18,698 — (1,029,915 ) Net increase (decrease) — (453,384 ) 36,304 — (417,080 ) Cash, cash equivalents, and restricted cash at beginning of year — 611,185 112,063 — 723,248 Cash, cash equivalents, and restricted cash at end of year $ — $ 157,801 $ 148,367 $ — $ 306,168 CONSOLIDATING STATEMENT OF CASH FLOWS For the year ended December 31, 2016 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) operating activities $ 256,722 $ (102,054 ) $ (86,398 ) $ — $ 68,270 Cash flows from investing activities: Capital expenditures — (36,297 ) (2,998 ) — (39,295 ) Investment in unconsolidated subsidiaries — (14,539 ) — — (14,539 ) Cash used for business acquisitions — (430,458 ) — — (430,458 ) Other investing activities, net — 11,189 1,911 — 13,100 Net cash provided by (used in) investing activities — (470,105 ) (1,087 ) — (471,192 ) Cash flows from financing activities: Financial Services borrowings (repayments) — — 63,744 — 63,744 Proceeds from debt issuance 1,991,937 4,000 — — 1,995,937 Repayments of debt (965,245 ) (21,235 ) (439 ) — (986,919 ) 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 (603,206 ) — — — (603,206 ) Dividends paid (124,666 ) — — — (124,666 ) Intercompany activities, net (561,387 ) 541,703 19,684 — — Net cash provided by (used in) financing activities (256,722 ) 524,468 82,989 — 350,735 Net increase (decrease) — (47,691 ) (4,496 ) — (52,187 ) Cash, cash equivalents, and restricted cash at beginning of year — 658,876 116,559 — 775,435 Cash, cash equivalents, and restricted cash at end of year $ — $ 611,185 $ 112,063 $ — $ 723,248 CONSOLIDATING STATEMENT OF CASH FLOWS For the year ended December 31, 2015 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) operating activities $ 185,946 $ (430,940 ) $ (92,596 ) $ — $ (337,590 ) Cash flows from investing activities: Capital expenditures — (41,857 ) (3,583 ) — (45,440 ) Investment in unconsolidated subsidiaries — (454 ) — — (454 ) Other investing activities, net — 2,391 8,939 — 11,330 Net cash provided by (used in) investing activities — (39,920 ) 5,356 — (34,564 ) Cash flows from financing activities: Financial Services borrowings (repayments) — — 127,636 — 127,636 Proceeds from debt issuance 498,087 — — — 498,087 Repayments of debt (237,995 ) (1,198 ) — — (239,193 ) Borrowings under revolving credit facility 125,000 — — — 125,000 Repayments under revolving credit facility (125,000 ) — — — (125,000 ) Stock option exercises 10,535 — — — 10,535 Share repurchases (442,738 ) — — — (442,738 ) Dividends paid (115,958 ) — — — (115,958 ) Intercompany activities, net 90,959 (27,886 ) (63,073 ) — — Net cash provided by (used in) financing activities (197,110 ) (29,084 ) 64,563 — (161,631 ) Net increase (decrease) (11,164 ) (499,944 ) (22,677 ) — (533,785 ) Cash, cash equivalents, and restricted cash at beginning of year 11,164 1,158,820 139,236 — 1,309,220 Cash, cash equivalents, and restricted cash at end of year $ — $ 658,876 $ 116,559 $ — $ 775,435

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	UNAUDITED QUARTERLY INFORMATION (000’s omitted, except per share data) 1st 2nd 3rd 4th Total (a) 2017 Homebuilding: Revenues $ 1,587,061 $ 1,973,571 $ 2,083,067 $ 2,737,391 $ 8,381,090 Cost of revenues (b) (1,220,906 ) (1,637,536 ) (1,589,728 ) (2,147,431 ) (6,595,601 ) Income before income taxes (c) 125,762 103,599 250,463 385,508 865,332 Financial Services: Revenues $ 41,767 $ 47,275 $ 46,952 $ 56,166 $ 192,160 Income before income taxes 13,503 18,948 17,786 23,259 73,496 Consolidated results: Revenues $ 1,628,828 $ 2,020,846 $ 2,130,019 $ 2,793,557 $ 8,573,250 Income before income taxes 139,265 122,547 268,249 408,767 938,828 Income tax expense (47,747 ) (21,798 ) (90,710 ) (331,352 ) (491,607 ) Net income $ 91,518 $ 100,749 $ 177,539 $ 77,415 $ 447,221 Net income per share: Basic $ 0.29 $ 0.32 $ 0.59 $ 0.26 $ 1.45 Diluted $ 0.28 $ 0.32 $ 0.58 $ 0.26 $ 1.44 Number of shares used in calculation: Basic 317,756 312,315 298,538 292,174 305,089 Effect of dilutive securities 2,329 1,565 1,690 1,318 1,725 Diluted 320,085 313,880 300,228 293,492 306,814 (a) Due to rounding, the sum of quarterly results may not equal the total for the year. Additionally, quarterly and year-to-date computations of per share amounts are made independently. (b) Cost of revenues includes land inventory impairments of $31.5 million and $57.5 million in the 2nd and 4th Quarters, respectively (see Note 2 ); net realizable value adjustments on land held for sale of $81.0 million in the 2nd Quarter (see Note 2 ); and a warranty charge of $12.4 million related to a closed-out community in the 2nd Quarter (see Note 11 ). (c) Homebuilding income before income taxes includes an $8.0 million impairment of an investment in an unconsolidated entity in the 2nd Quarter (see Note 2 ); write-offs of insurance receivables of $15.0 million , $5.3 million , and $9.3 million for the 1st, 3rd, and 4th Quarters, respectively (see Note 11 ); and reversals of general liability insurance reserves of $19.8 million and $75.3 million in the 2nd and 4th Quarters, respectively (see Note 11 ). UNAUDITED QUARTERLY INFORMATION (000’s omitted, except per share data) 1st 2nd 3rd 4th Total (a) 2016 Homebuilding: Revenues $ 1,396,730 $ 1,756,832 $ 1,894,885 $ 2,438,903 $ 7,487,350 Cost of revenues (1,040,056 ) (1,314,972 ) (1,429,133 ) (1,835,928 ) (5,620,089 ) Income before income taxes (b) 108,433 172,546 191,063 388,724 860,766 Financial Services: Revenues $ 35,848 $ 43,082 $ 48,020 $ 54,175 $ 181,126 Income before income taxes 9,780 17,034 21,272 24,997 73,084 Consolidated results: Revenues $ 1,432,578 $ 1,799,914 $ 1,942,905 $ 2,493,078 $ 7,668,476 Income before income taxes 118,213 189,580 212,335 413,721 933,850 Income tax expense (34,913 ) (71,820 ) (83,865 ) (140,549 ) (331,147 ) Net income $ 83,300 $ 117,760 $ 128,470 $ 273,172 $ 602,703 Net income per share: Basic $ 0.24 $ 0.34 $ 0.37 $ 0.83 $ 1.76 Diluted $ 0.24 $ 0.34 $ 0.37 $ 0.83 $ 1.75 Number of shares used in calculation: Basic 347,815 345,240 340,171 325,975 339,747 Effect of dilutive securities 2,662 2,759 2,250 1,834 2,376 Diluted 350,477 347,999 342,421 327,809 342,123 (a) Due to rounding, the sum of quarterly results may not equal the total for the year. Additionally, quarterly and year-to-date computations of per share amounts are made independently. (b) Homebuilding income before income taxes includes a charge of $15.0 million in the 3rd Quarter related to the settlement of a disputed land transaction (see Note 11 ) and an adjustment to general liability insurance reserves relating to a reserve reversal of $55.2 million in the 4th Quarter.

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Narrative) (Details) $ in Thousands, shares in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2016USD ($)	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)shares	Mar. 31, 2017USD ($)homelot
Income statement impact ASU 2016-09 adoption		7,700
Intangible asset useful life		20 years
Unfunded settlements		$ 80,300	$ 66,500
Restricted Cash and Cash Equivalents		33,485	24,366
Intangible assets, acquired cost (gross)		277,000	277,000
Intangible assets, accumulated amortization		176,400	162,600
Intangible assets amortization expense		13,800	13,800	$ 12,900
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months		13,800
Future Amortization Expense, Year Two		13,800
Future Amortization Expense, Year Three		13,800
Future Amortization Expense, Year Four		10,404
Future Amortization Expense, Year Five		5,650
Property and equipment, net		70,706	77,444
Property and equipment, accumulated depreciation		206,500	192,900
Depreciation Expense		37,200	40,200	33,300
Advertising Expense		45,000	50,700	45,300
Employee benefit plan company contributions		$ 15,700	$ 14,600	$ 12,600
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares		0.1	1.8	3.9
Number of VIEs requiring consolidation		0
Residential mortgage loans available-for-sale		$ 570,600	$ 539,496
Residential mortgage loans available-for-sale aggregate outstanding principal balance		553,500	529,700
Net gain (loss) from change in fair value		(2,200)	2,800
Net gains from the sale of mortgages		110,900	109,600	$ 80,800
Loans held for investment, net		$ 11,200	8,400
Days past contractual term once loans no longer accrue interest income		90 days
Variability in future cash flows of derivative instruments in days		60 days
Furniture and Fixtures [Member]
Property and equipment, useful life		2 years
Minimum [Member]
Period of Reimbursement of Payments on Loan Prepay in Days		90 days
Minimum [Member] | Equipment [Member]
Property and equipment, useful life		3 years
Maximum [Member]
Period of Reimbursement of Payments on Loan Prepay in Days		120 days
Maximum [Member] | Equipment [Member]
Property and equipment, useful life		10 years
Financial Services [Member]
Interest income on mortgage loans		$ 9,500	8,000	$ 6,900
Interest Rate Lock Commitments [Member]
Derivative, notional amount		210,900	273,900
Forward Contracts [Member]
Derivative, notional amount		522,000	610,000
Whole Loan Commitments [Member]
Derivative, notional amount		$ 203,100	157,600
JW Homes (Wieland) [Member] | JW Homes (Wieland) [Member]
Number of Units in Real Estate Property | lot					317
JW Homes (Wieland) [Member]
Business Combination, Consideration Transferred	$ 430,500
Number of Units in Real Estate Property | lot					7,000
Goodwill					$ 40,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net					$ 18,000
JW Homes (Wieland) [Member] | JW Homes (Wieland) [Member]
Number of Units in Real Estate Property | home					375
JW Homes (Wieland) [Member] | Land Option Contracts [Member]
Number of Units in Real Estate Property | lot					1,300
Restricted stock [Member]
Share-based compensation vesting period		3 years
Accounting Standards Update 2016-09, Excess Tax Benefit Component [Member] | New Accounting Pronouncement, Early Adoption, Effect [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption			$ 18,600

Summary of Significant Accoun35

Summary of Significant Accounting Policies (Other Expense (Income), Net) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other expense (income), net [Line Items]
Impairment Losses Related to Real Estate Partnerships	$ 8,000	$ 8,017	$ 0	$ 0
Write-off of deposits and pre-acquisition costs		11,367	17,157	5,021
Amortization of intangible assets		13,800	13,800	12,900
Equity in (earnings) loss of unconsolidated entities		1,985	(8,337)	(7,355)
Interest income		(2,537)	(3,236)	(3,107)
Interest expense		503	686	788
Miscellaneous, net		1,104	17,101	6,653
Other expense, net		27,951	48,814	17,363
Charges related to contractual dispute			15,000	20,000
Homebuilding [Member]
Other expense (income), net [Line Items]
Lease exit and related costs		1,729	11,643	2,463
Equity in (earnings) loss of unconsolidated entities		$ 2,610	$ (7,806)	$ (7,355)

Summary of Significant Accoun36

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Numerator:
Net income	$ 77,415	$ 177,539	$ 100,749	$ 91,518	$ 273,172	$ 128,470	$ 117,760	$ 83,300	$ 447,221	$ 602,703	$ 494,090
Less: earnings distributed to participating securities									(1,192)	(1,100)	(755)
Less: undistributed earnings allocated to participating securities									(3,380)	(3,622)	(2,448)
Numerator for basic earnings per share									442,649	597,981	490,887
Add back: undistributed earnings allocated to participating securities									3,380	3,622	2,448
Less: undistributed earnings reallocated to participating securities									(3,361)	(3,602)	(2,429)
Numerator for diluted earnings per share									$ 442,668	$ 598,001	$ 490,906
Denominator:
Basic shares outstanding (shares)	292,174	298,538	312,315	317,756	325,975	340,171	345,240	347,815	305,089	339,747	356,576
Effect of dilutive securities (shares)	1,318	1,690	1,565	2,329	1,834	2,250	2,759	2,662	1,725	2,376	3,217
Diluted shares outstanding (shares)	293,492	300,228	313,880	320,085	327,809	342,421	347,999	350,477	306,814	342,123	359,793
Earnings per share:
Basic (usd per share)	$ 0.26	$ 0.59	$ 0.32	$ 0.29	$ 0.83	$ 0.37	$ 0.34	$ 0.24	$ 1.45	$ 1.76	$ 1.38
Diluted (usd per share)	$ 0.26	$ 0.58	$ 0.32	$ 0.28	$ 0.83	$ 0.37	$ 0.34	$ 0.24	$ 1.44	$ 1.75	$ 1.36

Summary of Significant Accoun37

Summary of Significant Accounting Policies (Schedule Of The Company's Interests In Land Option Agreements) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Land under option agreement [Line Items]
Deposits and Pre-acquisition Costs	$ 207,987	$ 195,436
Remaining Purchase Price	2,462,579	2,102,563
Other Land Option Agreements Member
Land under option agreement [Line Items]
Deposits and Pre-acquisition Costs	129,098	126,909
Remaining Purchase Price	1,485,099	1,252,662
Consolidated and Unconsolidated VIEs [Member]
Land under option agreement [Line Items]
Deposits and Pre-acquisition Costs	78,889	68,527
Remaining Purchase Price	$ 977,480	$ 849,901

Summary of Significant Accoun38

Summary of Significant Accounting Policies (Fair Value Of the Company's Derivative Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	$ 7,216	$ 18,414
Other Liabilities	2,165	2,368
Interest Rate Lock Commitments [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	5,990	9,194
Other Liabilities	407	501
Forward Contracts [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	432	8,085
Other Liabilities	817	1,004
Whole Loan Commitments [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	794	1,135
Other Liabilities	$ 941	$ 863

Inventory And Land Held For S39

Inventory And Land Held For Sale (Major Components Of Inventory) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Homes under construction	$ 2,421,405	$ 1,921,259	$ 1,408,260
Land under development	4,135,814	4,072,109	3,259,066
Raw land	589,911	777,287	782,732
House and land inventory	$ 7,147,130	$ 6,770,655	$ 5,450,058

Inventory And Land Held For S40

Inventory And Land Held For Sale (Information Related To Interest Capitalized Into Homebuilding Inventory) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest in inventory, beginning of period	$ 186,097	$ 149,498	$ 167,638
Interest capitalized	181,719	160,506	120,001
Interest expensed	(141,205)	(123,907)	(138,141)
Interest in inventory, end of period	$ 226,611	$ 186,097	$ 149,498

Inventory And Land Held For S41

Inventory And Land Held For Sale Inventory and Land Held for Sale (Land-related Charges) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Land impairments		$ 88,952	$ 1,074	$ 7,347
Net realizable value adjustments (NRV) - land held for sale	$ 81,000	83,576	1,105	(901)
Impairment Losses Related to Real Estate Partnerships	$ 8,000	8,017	0	0
Write-off of deposits and pre-acquisition costs		11,367	17,157	5,021
Total land-related charges		$ 191,912	$ 19,336	$ 11,467
Maximum [Member]
Fair Value Inputs, Discount Rate		25.00%
Minimum [Member]
Fair Value Inputs, Discount Rate		12.00%

Inventory And Land Held For S42

Inventory And Land Held For Sale (Land Held For Sale) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Land held for sale, gross	$ 142,070	$ 38,157
Net realizable value reserves	(73,686)	(6,429)
Land held for sale, net	$ 68,384	$ 31,728

Segment Information Narrative (

Segment Information Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)segment	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information
Home sale revenues	$ 8,323,984	$ 7,451,315	$ 5,792,675
Number of reportable segments | segment	6
Detached single-family homes [Member]
Segment Reporting Information
Home sale revenues	$ 7,300,000	6,500,000	5,000,000
Attached homes [Member]
Segment Reporting Information
Home sale revenues	$ 1,068,000	$ 996,400	$ 841,500

Segment Information (Operating

Segment Information (Operating Data By Segment) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information
Total land-related charges									$ 191,912	$ 19,336	$ 11,467
Impairment Losses Related to Real Estate Partnerships			$ 8,000						8,017	0	0
Revenues:
Homebuilding	$ 2,737,391	$ 2,083,067	1,973,571	$ 1,587,061	$ 2,438,903	$ 1,894,885	$ 1,756,832	$ 1,396,730	8,381,090	7,487,350	5,841,211
Financial Services	56,166	46,952	47,275	41,767	54,175	48,020	43,082	35,848	192,160	181,126	140,753
Consolidated revenues	2,793,557	2,130,019	2,020,846	1,628,828	2,493,078	1,942,905	1,799,914	1,432,578	8,573,250	7,668,476	5,981,964
Income (loss) before income taxes:
Consolidated income (loss) before income taxes	408,767	268,249	122,547	139,265	413,721	212,335	189,580	118,213	938,828	933,850	816,023
Homebuilding	$ 385,508	$ 250,463	$ 103,599	$ 125,762	388,724	$ 191,063	$ 172,546	$ 108,433	$ 865,332	860,766	757,317
Charges related to contractual dispute										15,000	20,000
Write-off of insurance receivables	(9,297)	(5,326)		(15,000)					29,624
Loss on debt retirements									$ 0	657	0
Adjustment to self insurance reserves	$ 75,300				$ 55,200				(95,100)	(55,200)	(62,200)
Reserves provided									(50)	506	(11,433)
Northeast [Member]
Segment Reporting Information
Total land-related charges									51,362	2,079	3,301
Revenues:
Homebuilding									693,624	696,463	682,112
Income (loss) before income taxes:
Consolidated income (loss) before income taxes									21,190	81,991	82,616
Southeast [Member]
Segment Reporting Information
Total land-related charges									55,689	3,089	3,022
Revenues:
Homebuilding									1,563,322	1,491,270	1,058,089
Income (loss) before income taxes:
Consolidated income (loss) before income taxes									122,532	145,011	172,330
Florida [Member]
Segment Reporting Information
Total land-related charges									9,702	715	4,555
Revenues:
Homebuilding									1,493,953	1,284,753	1,019,733
Income (loss) before income taxes:
Consolidated income (loss) before income taxes									208,825	205,049	196,525
Product Warranty Expense									12,400
Texas [Member]
Segment Reporting Information
Total land-related charges									2,521	515	295
Revenues:
Homebuilding									1,167,750	1,034,673	845,772
Income (loss) before income taxes:
Consolidated income (loss) before income taxes									182,862	152,355	121,329
Midwest [Member]
Segment Reporting Information
Total land-related charges									8,917	3,383	2,319
Revenues:
Homebuilding									1,449,466	1,234,650	1,020,691
Income (loss) before income taxes:
Consolidated income (loss) before income taxes									178,231	120,159	91,745
West [Member]
Segment Reporting Information
Total land-related charges									56,995	8,960	(2,615)
Revenues:
Homebuilding									2,012,975	1,745,541	1,214,814
Income (loss) before income taxes:
Consolidated income (loss) before income taxes									229,504	225,771	169,394
Other Homebuilding [Member]
Segment Reporting Information
Total land-related charges									6,726	595	590
Income (loss) before income taxes:
Consolidated income (loss) before income taxes									(77,812)	(69,570)	(76,622)
Financial Services [Member]
Income (loss) before income taxes:
Consolidated income (loss) before income taxes									$ 73,496	73,084	58,706
Home Office Relocation [Member]
Income (loss) before income taxes:
Costs associated with the relocation of corporate headquarters										$ 8,300	$ 4,400

Segment Information (Land-Relat

Segment Information (Land-Related Charges By Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information
Total land-related charges	$ 191,912	$ 19,336	$ 11,467
Northeast [Member]
Segment Reporting Information
Total land-related charges	51,362	2,079	3,301
Southeast [Member]
Segment Reporting Information
Total land-related charges	55,689	3,089	3,022
Florida [Member]
Segment Reporting Information
Total land-related charges	9,702	715	4,555
Texas [Member]
Segment Reporting Information
Total land-related charges	2,521	515	295
Midwest [Member]
Segment Reporting Information
Total land-related charges	8,917	3,383	2,319
West [Member]
Segment Reporting Information
Total land-related charges	56,995	8,960	(2,615)
Other Homebuilding [Member]
Segment Reporting Information
Total land-related charges	$ 6,726	$ 595	$ 590

Segment Information (Depreciati

Segment Information (Depreciation and Amortization) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Depreciation and amortization:
Depreciation and amortization	$ 50,998	$ 54,007	$ 46,222
Northeast [Member]
Depreciation and amortization:
Depreciation and amortization	2,392	2,133	1,682
Southeast [Member]
Depreciation and amortization:
Depreciation and amortization	5,117	5,350	3,492
Florida [Member]
Depreciation and amortization:
Depreciation and amortization	4,883	4,955	3,536
Texas [Member]
Depreciation and amortization:
Depreciation and amortization	3,301	3,673	2,928
Midwest [Member]
Depreciation and amortization:
Depreciation and amortization	4,449	5,099	5,019
West [Member]
Depreciation and amortization:
Depreciation and amortization	5,828	6,739	5,995
Other Homebuilding [Member]
Depreciation and amortization:
Depreciation and amortization	21,326	22,467	20,254
Homebuilding [Member]
Depreciation and amortization:
Depreciation and amortization	47,296	50,416	42,906
Financial Services [Member]
Depreciation and amortization:
Depreciation and amortization	$ 3,702	$ 3,591	$ 3,316

Segment Information (Equity in

Segment Information (Equity in (earnings) loss of unconsolidated entities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Equity in (earnings) loss of unconsolidated entities:
Equity in earnings of unconsolidated entities	$ 1,985	$ (8,337)	$ (7,355)
Northeast [Member]
Equity in (earnings) loss of unconsolidated entities:
Equity in earnings of unconsolidated entities	0	2	2
Southeast [Member]
Equity in (earnings) loss of unconsolidated entities:
Equity in earnings of unconsolidated entities	0	0	0
Florida [Member]
Equity in (earnings) loss of unconsolidated entities:
Equity in earnings of unconsolidated entities	(8)	(10)	2
Texas [Member]
Equity in (earnings) loss of unconsolidated entities:
Equity in earnings of unconsolidated entities	0	0	0
Midwest [Member]
Equity in (earnings) loss of unconsolidated entities:
Equity in earnings of unconsolidated entities	(513)	78	(337)
West [Member]
Equity in (earnings) loss of unconsolidated entities:
Equity in earnings of unconsolidated entities	4,913	(6,759)	(5,107)
Other Homebuilding [Member]
Equity in (earnings) loss of unconsolidated entities:
Equity in earnings of unconsolidated entities	(1,782)	(1,117)	(1,915)
Homebuilding [Member]
Equity in (earnings) loss of unconsolidated entities:
Equity in earnings of unconsolidated entities	2,610	(7,806)	(7,355)
Financial Services [Member]
Equity in (earnings) loss of unconsolidated entities:
Equity in earnings of unconsolidated entities	$ (625)	$ (531)	$ 0

Segment Information (Total Asse

Segment Information (Total Assets And Inventory By Reportable Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information
Homes under construction	$ 2,421,405	$ 1,921,259	$ 1,408,260
Land under development	4,135,814	4,072,109	3,259,066
Raw land	589,911	777,287	782,732
House and land inventory	7,147,130	6,770,655	5,450,058
Total assets	9,686,649	10,178,200	9,189,406
Northeast [Member]
Segment Reporting Information
Homes under construction	234,413	175,253	163,173
Land under development	327,599	375,899	292,631
Raw land	73,574	135,447	121,522
House and land inventory	635,586	686,599	577,326
Total assets	791,511	798,369	688,610
Southeast [Member]
Segment Reporting Information
Homes under construction	433,411	354,047	196,456
Land under development	613,626	650,805	367,577
Raw land	121,238	148,793	139,246
House and land inventory	1,168,275	1,153,645	703,279
Total assets	1,287,992	1,243,188	765,933
Florida [Member]
Segment Reporting Information
Homes under construction	359,651	309,525	227,910
Land under development	876,856	683,376	574,092
Raw land	109,069	183,168	97,185
House and land inventory	1,345,576	1,176,069	899,187
Total assets	1,481,837	1,330,847	1,013,543
Texas [Member]
Segment Reporting Information
Homes under construction	251,613	219,606	191,424
Land under development	435,018	413,312	317,702
Raw land	87,392	74,750	107,737
House and land inventory	774,023	707,668	616,863
Total assets	859,847	793,917	691,342
Midwest [Member]
Segment Reporting Information
Homes under construction	299,896	256,649	197,738
Land under development	476,694	474,287	414,386
Raw land	28,482	50,302	68,918
House and land inventory	805,072	781,238	681,042
Total assets	877,282	851,457	734,834
West [Member]
Segment Reporting Information
Homes under construction	798,706	580,082	413,208
Land under development	1,137,940	1,226,190	1,094,112
Raw land	147,493	159,387	222,920
House and land inventory	2,084,139	1,965,659	1,730,240
Total assets	2,271,328	2,200,058	1,924,958
Other Homebuilding [Member]
Segment Reporting Information
Homes under construction	43,715	26,097	18,351
Land under development	268,081	248,240	198,566
Raw land	22,663	25,440	25,204
House and land inventory	334,459	299,777	242,121
Total assets	1,469,234	2,351,082	2,861,197
Homebuilding [Member]
Segment Reporting Information
Homes under construction	2,421,405	1,921,259	1,408,260
Land under development	4,135,814	4,072,109	3,259,066
Raw land	589,911	777,287	782,732
House and land inventory	7,147,130	6,770,655	5,450,058
Total assets	9,039,031	9,568,918	8,680,417
Financial Services [Member]
Segment Reporting Information
Total assets	$ 647,618	$ 609,282	$ 508,989

Investments In Unconsolidated49

Investments In Unconsolidated Entities (Summary Schedule Of Joint Ventures) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investment in Joint Ventures with Limited recourse debt to Company	$ 37,063	$ 0
Investments in joint ventures with debt non-recourse to Company	3,567	33,436
Investments in other active joint ventures	22,327	18,011
Total investments in unconsolidated entities	62,957	51,447
Joint Venture Debt Total	59,500	4,605
Company proportionate share of joint venture debt:
Joint venture debt with limited recourse guaranties	28,157	0
Joint venture debt non-recourse to Company	700	1,349
Company's total proportionate share of joint venture debt	$ 28,857	$ 1,349

Investments In Unconsolidated50

Investments In Unconsolidated Entities (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Equity in earnings of unconsolidated entities	$ 1,985	$ (8,337)	$ (7,355)
Capital and earnings distributions received from unconsolidated entities	9,400	10,900	6,000
Payments to Acquire Interest in Subsidiaries and Affiliates	(23,000)	(14,500)
Joint Venture Debt Total	59,500	4,605
Joint Venture Debt Company Proportionate Share Total	56,300
Homebuilding [Member]
Schedule of Equity Method Investments [Line Items]
Equity in earnings of unconsolidated entities	2,610	(7,806)	(7,355)
Financial Services [Member]
Schedule of Equity Method Investments [Line Items]
Equity in earnings of unconsolidated entities	$ (625)	$ (531)	$ 0
Unconsolidated Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%

Debt (Summary Of Company's Seni

Debt (Summary Of Company's Senior Notes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2017	Jul. 29, 2016
Debt Instrument
Senior note carrying value	$ 2,986,943	$ 3,110,016
Debt Issuance Costs, Net	(13,057)	(12,984)
Other Notes Payable	20,024	19,282
Notes payable	3,006,967	3,129,298
Notes Payable, Fair Value Disclosure	3,263,774	3,131,579
5.500% unsecured senior notes due March 2026 [Member] | Senior Notes [Member]
Debt Instrument
Senior note carrying value	700,000	700,000
Senior Unsecured Term Loan Maturing January 3, 2027 [Member] [Domain] | Senior Notes [Member]
Debt Instrument
Senior note carrying value	$ 600,000	600,000
Debt instrument, interest rate, stated percentage				5.00%
Unsecured Senior Notes 6.50% due May 2016 [Member]
Debt Instrument
Senior note carrying value		$ 465,245
Debt instrument, maturity date, description	May 2,016	May 2,016
Unsecured Senior Notes 7.625% Due October 2017 [Member]
Debt Instrument
Senior note carrying value	$ 0	$ 123,000
Debt instrument, maturity date, description	October 2,017	October 2,017
Senior Notes [Member] | 5.500% unsecured senior notes due March 2026 [Member]
Debt Instrument
Debt instrument, interest rate, stated percentage			5.50%
Senior Notes [Member] | 4.250% unsecured senior notes due March 2021 [Member]
Debt Instrument
Debt instrument, interest rate, stated percentage				4.25%
4.250% unsecured senior notes due March 2021 [Member]
Debt Instrument
Senior note carrying value	$ 700,000	$ 700,000
Unsecured Senior Notes 7.875% Due June 2032 [Member]
Debt Instrument
Senior note carrying value	$ 300,000	$ 300,000
Debt instrument, interest rate, stated percentage	7.875%	7.875%
Debt instrument, maturity date, description	June 2,032	June 2,032
Unsecured Senior Notes 6.375% Due May 2033 [Member]
Debt Instrument
Senior note carrying value	$ 400,000	$ 400,000
Debt instrument, interest rate, stated percentage	6.375%	6.375%
Debt instrument, maturity date, description	May 2,033	May 2,033
Unsecured Senior Notes 6.00% Due February 2035 [Member]
Debt Instrument
Senior note carrying value	$ 300,000	$ 300,000
Debt instrument, interest rate, stated percentage	6.00%	6.00%
Debt instrument, maturity date, description	February 2,035	February 2,035

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	12 Months Ended
	Aug. 15, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Oct. 13, 2017	Sep. 30, 2017	Jul. 29, 2016	Feb. 01, 2016
Debt Instrument
Long-term debt, maturities, repayments of principal, year three through five		$ 700,000,000
Long-term debt, maturities, repayments of principal, thereafter		2,300,000,000
Notes payable		2,986,943,000	$ 3,110,016,000
Term loan		500,000,000
Loss on debt retirements		0	657,000	$ 0
Repayments of Long-term Debt		134,747,000	986,919,000	$ 239,193,000
Other Notes Payable		$ 20,024,000	19,282,000
Debt Instrument, Term		3 years
Letters of credit outstanding, amount		$ 235,500,000	219,100,000
Unused credit lines		764,500,000	530,900,000
Financial Services debt		$ 437,804,000	331,621,000
Maximum [Member]
Debt Instrument
Debt instrument, interest rate, stated percentage		7.30%
Unsecured Senior Notes 6.50% due May 2016 [Member]
Debt Instrument
Notes payable			465,245,000
Unsecured Letter Of Credit Facility [Member]
Debt Instrument
Letters of credit outstanding, amount		$ 235,500,000	219,100,000
Revolving Credit Facility [Member]
Debt Instrument
Short-term debt covenant description		500,000
Line of Credit, Current		$ 0
Line of Credit Facility, Initiation Date		Jul. 23, 2014
Line of Credit Facility, Expiration Date		Jun. 1, 2019
Revolving Credit Facility Accordion Feature [Member]
Debt Instrument
Maximum borrowing capacity		$ 1,250,000,000			$ 1,000,000,000
Financial Services [Member]
Debt Instrument
Maximum borrowing capacity		475,000,000	360,000,000
Unused credit lines		37,196,000	28,379,000
Financial Services [Member] | Unsecured Letter Of Credit Facility [Member]
Debt Instrument
Line of Credit Facility, Expiration Date	Aug. 15, 2018
Financial Services [Member] | Repurchase Agreement [Member]
Debt Instrument
Maximum borrowing capacity		475,000,000			$ 750,000,000
Financial Services debt		437,800,000	331,600,000
Financial Services [Member] | Repurchase Agreement [Member] | Minimum [Member]
Debt Instrument
Maximum borrowing capacity		250,000,000
Financial Services [Member] | Repurchase Agreement [Member] | Maximum [Member]
Debt Instrument
Maximum borrowing capacity		400,000,000
Financial Services [Member] | Revolving Credit Facility Accordion Feature [Member] | Minimum [Member]
Debt Instrument
Maximum borrowing capacity		50,000,000
Financial Services [Member] | Revolving Credit Facility Accordion Feature [Member] | Maximum [Member]
Debt Instrument
Maximum borrowing capacity		525,000,000
Senior Unsecured Notes February 2016 [Member] | Senior Notes [Member]
Debt Instrument
Debt Instrument, Face Amount								$ 1,000,000,000
4.250% unsecured senior notes due March 2021 [Member] | Senior Notes [Member]
Debt Instrument
Debt Instrument, Face Amount							$ 400,000,000	300,000,000
Debt instrument, interest rate, stated percentage							4.25%
5.500% unsecured senior notes due March 2026 [Member] | Senior Notes [Member]
Debt Instrument
Debt Instrument, Face Amount								$ 700,000,000
Debt instrument, interest rate, stated percentage						5.50%
Senior Unsecured Notes, Issued July 2016 [Member] | Senior Notes [Member]
Debt Instrument
Debt Instrument, Face Amount							$ 1,000,000,000
Senior Notes [Member] | 5.500% unsecured senior notes due March 2026 [Member]
Debt Instrument
Notes payable		700,000,000	700,000,000
Senior Notes [Member] | Senior Unsecured Term Loan Maturing January 3, 2027 [Member] [Domain]
Debt Instrument
Debt instrument, interest rate, stated percentage							5.00%
Notes payable		$ 600,000,000	$ 600,000,000

Debt (Aggregate Borrowing Infor

Debt (Aggregate Borrowing Information) (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Unused credit lines	$ 764,500,000	$ 530,900,000
Financial Services [Member]
Line of Credit Facility [Line Items]
Available credit lines	475,000,000	360,000,000
Unused credit lines	$ 37,196,000	$ 28,379,000
Weighted-average interest rate	3.55%	2.89%

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 25, 2018
Class of Stock [Line Items]
Dividends declared	$ 110,046,000	$ 122,240,000	$ 117,873,000
Stock repurchases	$ 916,323,000	$ 603,206,000	$ 442,738,000
Share repurchase plan [Member]
Class of Stock [Line Items]
Shares repurchased under authorized repurchase programs	35.4	30.9	21.2
Stock repurchases	$ 910,300,000	$ 600,000,000	$ 433,690,000
Remaining value of stock repurchase programs authorization	94,400,000
Shares withheld to pay taxes [Member]
Class of Stock [Line Items]
Stock repurchases	$ 6,000,000	$ 3,200,000	$ 9,000,000
Subsequent Event [Member] | Share repurchase plan [Member]
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount				$ 500,000,000

Stock Compensation Plans Narrat

Stock Compensation Plans Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum period stock options, appreciation rights, restricted stock, and restricted stock units can be granted	10 years
Number of Years Stock Options are Exercisable After Grant Date	10 years
Number of shares available for grant	25,000,000
Long-term incentive plan liability	$ 14	$ 11.2
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period	4 years
Unrecognized stock compensation expense	$ 0
Aggregate instrinsic value of stock options exercised	31.1	4.5	$ 9.4
Intrinsic value of outstanding stock options	$ 25.8
Restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period	3 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units outstanding vested but not yet paid	152,472
Restricted Stock, Performance Shares, and Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock compensation expense	$ 18.6
Restricted stock shares vested during period, total fair value	$ 15	$ 11	$ 10.2
Weighted average period in which stock based compensation costs are expensed	2 years
Field long-term compensation plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation vesting period	3 years
Senior management long-term compensation plan [Member] [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation plan price floor	$ 5

Stock Compensation Plans (Expen

Stock Compensation Plans (Expense by plan type) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 33,683	$ 22,228	$ 24,752
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	0	0	37
Restricted Stock, Performance Shares, and Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	24,207	18,626	16,852
Long-term incentive plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 9,476	$ 3,602	$ 7,863

Stock Compensation Plans (Stock

Stock Compensation Plans (Stock Option Activity Rollforward) (Details) - Stock options [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Stock Option Activity [Roll Forward]
Outstanding, beginning of year	3,623	6,040	9,370
Granted	0	0	0
Exercised	(2,353)	(498)	(904)
Forfeited	(102)	(1,919)	(2,426)
Outstanding, end of year	1,168	3,623	6,040
Options exercisable at year end	1,168	3,623	6,040
Weighted-average per share fair value of options granted during the year	$ 0	$ 0	$ 0
Outstanding, weighted-average per share exercise price, beginning of year	12	19	23
Granted, weighted-average per share exercise price	0	0	0
Exercised, weighted-average per share exercise price	12	12	12
Forfeited, weighted-average per share exercise price	28	34	37
Options outstanding, weighted-average per share exercise price, end of year	11	12	19
Options exercisable at year end, weighted-average per share exercise price	$ 11	$ 12	$ 19

Stock Compensation Plans (Weigh

Stock Compensation Plans (Weighted-average remaining contractual lives of stock options outstanding) (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2017$ / sharesshares
Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding - number outstanding | shares	1,168
Weighted average remaining contractual term	1 year 11 months
Options outstanding - weighted average per share exercise price	$ 11
Options exercisable - number exercisable | shares	1,168
Options exercisable - weighted average per share exercise price	$ 11
$0.01 to $10.00 [Member]
Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding - number outstanding | shares	264
Weighted average remaining contractual term	2 years 10 months
Options outstanding - weighted average per share exercise price	$ 8
Options exercisable - number exercisable | shares	264
Options exercisable - weighted average per share exercise price	$ 8
Exercise price range, lower range limit	0.01
Exercise price range, upper range limit	$ 10
$10.01 to $20.00 [Member]
Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding - number outstanding | shares	904
Weighted average remaining contractual term	1 year 7 months
Options outstanding - weighted average per share exercise price	$ 12
Options exercisable - number exercisable | shares	904
Options exercisable - weighted average per share exercise price	$ 12
Exercise price range, lower range limit	10.01
Exercise price range, upper range limit	20
$20.01 to $30.00 [Member]
Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit	20.01
Exercise price range, upper range limit	30
$30.01 to $40.00 [Member]
Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit	30.01
Exercise price range, upper range limit	40
$40.01 to $45.00 [Member]
Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit	40.01
Exercise price range, upper range limit	$ 45

Stock Compensation Plans (Restr

Stock Compensation Plans (Restricted Stock, RSUs and Performance Shares Activity Rollforward) (Details) - Restricted Stock, Performance Shares, and Restricted Stock Units (RSUs) [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restricted Stock, RSUs and Performance Shares Activity [Roll Forward]
Outstanding, beginning of year	2,974	2,576	2,890
Granted	1,251	1,853	932
Vested	(775)	(546)	(1,090)
Forfeited	(179)	(909)	(156)
Outstanding, end of year	3,271	2,974	2,576
Vested, end of year	152	123	89
Outstanding, beginning of year, weighted-average per share grant date fair value	$ 19	$ 18	$ 15
Granted, weighted-average per share grant date fair value	21	17	22
Vested, weighted-average per share grant date fair value	19	20	10
Forfeited, weighted-average per share grant date fair value	19	12	19
Outstanding, end of year, weighted-average per share grant date fair value	19	19	18
Vested, end of year, weighted-average per share grant date fair value	$ 17	$ 15	$ 14

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Contingency [Line Items]
Impact of Tax Reform	$ 172,100
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	41,282	$ 187,817
Gross unrecognized tax benefits	48,604	21,502	$ 38,992	$ 32,911
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	23,400	14,000
Unrecognized tax benefits, income tax penalties and interest accrued	4,900	12,200
Possible decrease in unrecognized tax benefits	$ 40,000
Minimum [Member]
Income Tax Contingency [Line Items]
Operating loss carryforwards, expiration dates	Jan. 1, 2031
IncomeTaxNetOperatingLossCarryforwardPeriod	5 years
Income tax examination, year(s) under examination	2,005
Maximum [Member]
Income Tax Contingency [Line Items]
Operating loss carryforwards, expiration dates	Jan. 1, 2032
IncomeTaxNetOperatingLossCarryforwardPeriod	20 years
Income tax examination, year(s) under examination	2,017
2016 to 2020 [Member] | Minimum [Member]
Income Tax Contingency [Line Items]
Operating loss carryforwards, expiration dates	Jan. 1, 2018
2016 to 2020 [Member] | Maximum [Member]
Income Tax Contingency [Line Items]
Operating loss carryforwards, expiration dates	Jan. 1, 2022
2016 to 2020 [Member] | State and Local Jurisdiction [Member]
Income Tax Contingency [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	$ 26,900
2021 to 2025 [Member] | Minimum [Member]
Income Tax Contingency [Line Items]
Operating loss carryforwards, expiration dates	Jan. 1, 2023
2021 to 2025 [Member] | State and Local Jurisdiction [Member]
Income Tax Contingency [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	$ 221,300
Net Operating Loss (NOL) Expiration Period energy credit [Member] | Minimum [Member]
Income Tax Contingency [Line Items]
Operating loss carryforwards, expiration dates	Jan. 1, 2027
Net Operating Loss (NOL) Expiration Period energy credit [Member] | Maximum [Member]
Income Tax Contingency [Line Items]
Operating loss carryforwards, expiration dates	Jan. 1, 2036
New Accounting Pronouncement, Early Adoption, Effect [Member] | Retained Earnings [Member] | Accounting Standards Update 2016-09, Excess Tax Benefit Component [Member]
Income Tax Contingency [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption		$ 18,600

Income Taxes Components of curr

Income Taxes Components of current and deferred income tax expense (benefit) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current provision (benefit)
Federal									$ 81,101	$ 9,464	$ 8,760
State and other									(11,801)	(13,104)	1,474
Current Income Tax Expense (Benefit)									69,300	(3,640)	10,234
Deferred provision (benefit)
Federal									444,695	312,288	277,895
State and other									(22,388)	22,499	33,804
Deferred Income Tax Expense (Benefit)									422,307	334,787	311,699
Income tax expense (benefit)	$ 331,352	$ 90,710	$ 21,798	$ 47,747	$ 140,549	$ 83,865	$ 71,820	$ 34,913	$ 491,607	$ 331,147	$ 321,933

Income Taxes Reconciliation of

Income Taxes Reconciliation of statutory federal income tax rate to effective income tax rate (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income taxes at federal statutory rate	35.00%	35.00%	35.00%
Effect of state and local income taxes, net of federal tax	3.10%	3.30%	2.80%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	18.30%	0.50%	0.30%
Deferred tax asset valuation allowance	(1.10%)	(2.20%)	0.40%
Tax contingencies	(1.00%)	(1.30%)	0.10%
Other	(1.90%)	0.20%	0.90%
Effective rate	52.40%	35.50%	39.50%

Income Taxes Net deferred tax a

Income Taxes Net deferred tax asset (liability) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred Tax Assets [Abstract]
Deferred Tax Assets, Tax Deferred Expense, Other	$ 117,133	$ 220,823
Non-deductible reserves and other	78,271	132,597
Inventory valuation reserves	202,791	359,964
Net operating loss (NOL) carryforwards:
Federal	41,282	187,817
State	248,224	224,316
Alternative minimum tax credits	54,965	53,917
Energy credit and charitable contribution carryforward	41,763	45,673
Deferred Tax Assets, Gross	784,429	1,225,107
Deferred Tax Liabilities [Abstract]
Capitalized items, including real estate basis differences, deducted for tax, net	(17,895)	(13,054)
Deferred Tax Liability, deferral of profit on home sales	(34,769)	(69,391)
Trademarks and tradenames	(17,860)	(28,391)
Deferred Tax Liabilities, Gross	(70,524)	(110,836)
Valuation allowance	(68,610)	(64,863)
Net deferred tax asset (liability)	$ 645,295	$ 1,049,408

Income Taxes Reconciliation o64

Income Taxes Reconciliation of the change in unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of the change in unrecognized tax benefits [Roll Forward]
Unrecognized Tax Benefits, beginning of period	$ 21,502	$ 38,992	$ 32,911
Increases related to tax positions taken during a prior period	20,555	224	5,763
Decreases related to tax positions taken during a prior period	(9,665)	(13,218)	0
Increases related to tax positions taken during the current period	18,895	114	318
Decreases related to settlements with taxing authorities	0	(707)	0
Reductions as a result of a lapse of the statute of limitations	(2,683)	(3,903)	0
Unrecognized Tax Benefits, end of period	$ 48,604	$ 21,502	$ 38,992

Fair Value Disclosures Fair Val

Fair Value Disclosures Fair Value Disclosures (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosed at fair value:
Other Notes Payable	$ 20,024	$ 19,282
Debt Instrument, Fair Value Disclosure	3,243,750	3,112,297
Fair Value, Inputs, Level 1 [Member]
Disclosed at fair value:
Cash and equivalents (including restricted cash), fair value	306,168	723,248
Fair Value, Inputs, Level 2 [Member]
Disclosed at fair value:
Financial Services debt, fair value	437,804	331,621
House and land inventory [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Measured at fair value on a non-recurring basis:
Assets, Fair Value Disclosure, Nonrecurring	11,045	8,920
Interest Rate Lock Commitments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Measured at fair value on a recurring basis:
Assets, Fair Value Disclosure, Recurring	5,583	8,693
Forward Contracts [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Measured at fair value on a recurring basis:
Assets, Fair Value Disclosure, Recurring		7,081
Liabilities, Fair Value Disclosure, Recurring	(385)
Whole Loan Commitments [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Measured at fair value on a recurring basis:
Assets, Fair Value Disclosure, Recurring		272
Liabilities, Fair Value Disclosure, Recurring	(147)
Residential Mortgage [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Measured at fair value on a recurring basis:
Assets, Fair Value Disclosure, Recurring	570,600	539,496
Land Held For Sale [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Measured at fair value on a non-recurring basis:
Assets, Fair Value Disclosure, Nonrecurring	$ 8,600	$ 1,670

Fair Value Disclosures Fair V66

Fair Value Disclosures Fair Value Disclosures (Narrative) (Details) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Notes payable	$ 3,006,967	$ 3,129,298

Other Assets and Accrued and 67

Other Assets and Accrued and Other Liabilities (Other Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Other Assets and Accrued and Other Liabilities [Abstract]
Insurance Settlements Receivable	$ 213,407	$ 307,344
Notes receivable	16,768	29,111
Other receivables	76,309	90,714
Accounts and notes receivable	306,484	427,169
Prepaid expenses	116,912	106,748
Deposits and pre-acquisition Costs	207,987	195,436
Property and equipment, net	70,706	77,444
Income taxes receivable	6,964	9,272
Other	36,070	41,357
Other Assets	$ 745,123	$ 857,426

Other Assets and Accrued and 68

Other Assets and Accrued and Other Liabilities (Other Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Assets and Accrued and Other Liabilities [Abstract]
Self-insurance liabilities	$ 758,812	$ 831,058	$ 924,563	$ 995,692
Compensation-related	134,008	123,730
Warranty	72,709	66,134	61,179	65,389
Accrued interest	50,620	50,793
Loan origination liabilities	34,641	35,114	$ 46,381	$ 58,222
Other	305,543	322,883
Accrued and other liabilities	$ 1,356,333	$ 1,429,712

Commitments And Contingencies69

Commitments And Contingencies (Narrative) (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2017USD ($)claim	Dec. 31, 2016USD ($)	Dec. 31, 2017USD ($)claim	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Loss Contingencies [Line Items]
Operating lease rent expense			$ 30,800	$ 33,000	$ 27,700
Letters of credit outstanding, amount	$ 235,500	$ 219,100	235,500	219,100
Surety Bonds Outstanding	$ 1,200,000	1,100,000	$ 1,200,000	1,100,000
Charges related to contractual dispute				15,000	20,000
Maximum product warranty in years			10 years
Loss Contingency, Pending Claims, Number | claim	1,000		1,000
Self-insurance liabilities	$ 758,812	$ 831,058	$ 758,812	$ 831,058	924,563	$ 995,692
Incurred but not reported percentage of liability reserves	65.00%	70.00%	65.00%	70.00%
Adjustment to self insurance reserves	$ 75,300	$ 55,200	$ (95,100)	$ (55,200)	(62,200)
Increase (Decrease) in Self Insurance Reserve					$ (29,600)
Florida [Member]
Loss Contingencies [Line Items]
Product Warranty Expense			$ 12,400

Commitments and Contingencies C

Commitments and Contingencies Commitments And Contingencies (Future minimum operating lease payments) (Details) $ in Thousands	Dec. 31, 2017USD ($)
Years Ending December 31,
Future minimum lease payments - 2016	$ 25,040
Future minimum lease payments - 2017	23,561
Future minimum lease payments - 2018	16,798
Future minimum lease payments - 2019	11,674
Future minimum lease payments - 2020	9,543
Future minimum lease payments - Thereafter	31,509
Future minimum lease payments - Total	$ 118,125

Commitments And Contingencies71

Commitments And Contingencies (Changes To Anticipated Loan Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Changes in loan origination liability [Roll Forward]
Liabilities, beginning of period	$ 35,114	$ 46,381	$ 58,222
Reserves provided (released), net	50	(506)	11,433
Payments	(423)	(11,773)	(408)
Liabilities, end of period	$ 34,641	$ 35,114	$ 46,381

Commitments And Contingencies72

Commitments And Contingencies (Changes To Warranty Liability) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Changes to warranty liabilities [Roll Forward]
Warranty liabilities, beginning of period	$ 66,134	$ 61,179	$ 65,389
Warranty reserves provided	50,014	67,169	52,684
Payments	(58,780)	(55,892)	(60,968)
Other adjustments	15,341	(6,322)	4,074
Warranty liabilities, end of period	$ 72,709	$ 66,134	$ 61,179

Commitments And Contingencies73

Commitments And Contingencies (Changes in Self-insurance Liability) (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Write-off of insurance receivables	(9,297)	(5,326)	(15,000)	29,624
Litigation of Recorded Insurance Receivable				$ 71,600
Insurance Settlements Receivable	$ 213,407			213,407	$ 307,344
Insurance Related Expenses [Roll Forward]
Balance, beginning of period			$ 831,058	831,058	924,563	$ 995,692
Reserves provided				81,503	97,916	80,860
Increase (Decrease) in Liability for Claims and Claims Adjustment Expense Reserve				(97,789)	(57,132)	(64,775)
Payments				(55,960)	(134,289)	(87,214)
Balance, end of period	$ 758,812			$ 758,812	$ 831,058	924,563
Loss Contingency, Receivable, Period Increase (Decrease)						$ 32,600

Supplemental Guarantor Inform74

Supplemental Guarantor Information (Balance Sheet) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash and equivalents	$ 272,683	$ 698,882
Restricted cash	33,485	24,366
Total cash, cash equivalents, and restricted cash	306,168	723,248	$ 775,435	$ 1,309,220
House and land inventory	7,147,130	6,770,655	5,450,058
Land held for sale	68,384	31,728
Residential mortgage loans available-for-sale	570,600	539,496
Investments in unconsolidated entities	62,957	51,447
Other assets	745,123	857,426
Intangible assets	140,992	154,792
Deferred tax assets, net	645,295	1,049,408
Investments in subsidiaries and intercompany accounts, net	0	0
Total assets	9,686,649	10,178,200	9,189,406
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	2,000,927	2,023,058
Income tax liabilities	86,925	34,860
Financial Services debt	437,804	331,621
Notes payable	3,006,967	3,129,298
Total liabilities	5,532,623	5,518,837
Total shareholders’ equity	4,154,026	4,659,363	4,759,325	4,804,954
Total liabilities and shareholders' equity	9,686,649	10,178,200
Parent Company [Member]
ASSETS
Cash and equivalents	0	0
Restricted cash	0	0
Total cash, cash equivalents, and restricted cash	0	0	0	11,164
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	105
Other assets	9,417	12,364
Intangible assets	0	0
Deferred tax assets, net	646,227	1,051,351
Investments in subsidiaries and intercompany accounts, net	6,661,638	6,835,075
Total assets	7,317,282	7,898,895
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	89,388	94,656
Income tax liabilities	86,925	34,860
Financial Services debt	0	0
Notes payable	2,986,943	3,110,016
Total liabilities	3,163,256	3,239,532
Total shareholders’ equity	4,154,026	4,659,363
Total liabilities and shareholders' equity	7,317,282	7,898,895
Guarantor Subsidiaries [Member]
ASSETS
Cash and equivalents	125,462	588,353
Restricted cash	32,339	22,832
Total cash, cash equivalents, and restricted cash	157,801	611,185	658,876	1,158,820
House and land inventory	7,053,087	6,707,392
Land held for sale	68,384	31,218
Residential mortgage loans available-for-sale	0	0
Investments in unconsolidated entities	62,415	46,248
Other assets	592,045	716,923
Intangible assets	140,992	154,792
Deferred tax assets, net	0	0
Investments in subsidiaries and intercompany accounts, net	284,983	(376,748)
Total assets	8,359,707	7,891,010
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	1,636,913	1,738,454
Income tax liabilities	0	0
Financial Services debt	0	0
Notes payable	16,911	17,302
Total liabilities	1,653,824	1,755,756
Total shareholders’ equity	6,705,883	6,135,254
Total liabilities and shareholders' equity	8,359,707	7,891,010
Non-Guarantor Subsidiaries [Member]
ASSETS
Cash and equivalents	147,221	110,529
Restricted cash	1,146	1,534
Total cash, cash equivalents, and restricted cash	148,367	112,063	116,559	139,236
House and land inventory	94,043	63,263
Land held for sale	0	510
Residential mortgage loans available-for-sale	570,600	539,496
Investments in unconsolidated entities	542	5,094
Other assets	143,661	128,139
Intangible assets	0	0
Deferred tax assets, net	(932)	(1,943)
Investments in subsidiaries and intercompany accounts, net	7,300,127	6,845,781
Total assets	8,256,408	7,692,403
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	274,626	189,948
Income tax liabilities	0	0
Financial Services debt	437,804	331,621
Notes payable	3,113	1,980
Total liabilities	715,543	523,549
Total shareholders’ equity	7,540,865	7,168,854
Total liabilities and shareholders' equity	8,256,408	7,692,403
Eliminating Entries [Member]
ASSETS
Cash and equivalents	0	0
Restricted cash	0	0
Total cash, cash equivalents, and restricted cash	0	0	$ 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	(14,246,748)	(13,304,108)
Total assets	(14,246,748)	(13,304,108)
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	0	0
Income tax liabilities	0	0
Financial Services debt	0	0
Notes payable	0	0
Total liabilities	0	0
Total shareholders’ equity	(14,246,748)	(13,304,108)
Total liabilities and shareholders' equity	$ (14,246,748)	$ (13,304,108)

Supplemental Guarantor Inform75

Supplemental Guarantor Information (Statement Of Operations and Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Homebuilding
Home sale revenues									$ 8,323,984	$ 7,451,315	$ 5,792,675
Land sale revenues									57,106	36,035	48,536
Total homebuilding revenues	$ 2,737,391	$ 2,083,067	$ 1,973,571	$ 1,587,061	$ 2,438,903	$ 1,894,885	$ 1,756,832	$ 1,396,730	8,381,090	7,487,350	5,841,211
Financial Services	56,166	46,952	47,275	41,767	54,175	48,020	43,082	35,848	192,160	181,126	140,753
Total revenues	2,793,557	2,130,019	2,020,846	1,628,828	2,493,078	1,942,905	1,799,914	1,432,578	8,573,250	7,668,476	5,981,964
Homebuilding Cost of Revenues:
Home sale cost of revenues									(6,461,152)	(5,587,974)	(4,235,945)
Land sale cost of revenues									(134,449)	(32,115)	(35,858)
Total cost of revenues	(2,147,431)	(1,589,728)	(1,637,536)	(1,220,906)	(1,835,928)	(1,429,133)	(1,314,972)	(1,040,056)	(6,595,601)	(5,620,089)	(4,271,803)
Financial Services expenses									(119,289)	(108,573)	(82,047)
Selling, general, and administrative expenses									(891,581)	(957,150)	(794,728)
Other expense, net									(27,951)	(48,814)	(17,363)
Intercompany interest									0	0	0
Income (loss) before income taxes and equity in income (loss) of subsidiaries									938,828	933,850	816,023
Income tax expense	(331,352)	(90,710)	(21,798)	(47,747)	(140,549)	(83,865)	(71,820)	(34,913)	(491,607)	(331,147)	(321,933)
Income (loss) before equity in income (loss) of subsidiaries									447,221	602,703	494,090
Equity in income (loss) of subsidiaries									0	0	0
Net income	$ 77,415	$ 177,539	$ 100,749	$ 91,518	$ 273,172	$ 128,470	$ 117,760	$ 83,300	447,221	602,703	494,090
Other comprehensive income (loss)									81	83	81
Comprehensive income									447,302	602,786	494,171
Parent Company [Member]
Homebuilding
Home sale revenues									0	0	0
Land sale revenues									0	0	0
Total homebuilding revenues									0	0	0
Financial Services									0	0	0
Total revenues									0	0	0
Homebuilding Cost of Revenues:
Home sale cost of revenues									0	0	0
Land sale cost of revenues									0	0	0
Total cost of revenues									0	0	0
Financial Services expenses									0	0	(313)
Selling, general, and administrative expenses									0	0	(3)
Other expense, net									(482)	(1,321)	(760)
Intercompany interest									(2,485)	(1,980)	(2,110)
Income (loss) before income taxes and equity in income (loss) of subsidiaries									(2,967)	(3,301)	(3,186)
Income tax expense									1,127	1,254	1,210
Income (loss) before equity in income (loss) of subsidiaries									(1,840)	(2,047)	(1,976)
Equity in income (loss) of subsidiaries									449,061	604,750	496,066
Net income									447,221	602,703	494,090
Other comprehensive income (loss)									81	83	81
Comprehensive income									447,302	602,786	494,171
Guarantor Subsidiaries [Member]
Homebuilding
Home sale revenues									8,229,392	7,427,757	5,792,675
Land sale revenues									53,280	33,598	48,536
Total homebuilding revenues									8,282,672	7,461,355	5,841,211
Financial Services									0	0	1
Total revenues									8,282,672	7,461,355	5,841,212
Homebuilding Cost of Revenues:
Home sale cost of revenues									(6,385,167)	(5,566,653)	(4,235,945)
Land sale cost of revenues									(131,363)	(30,156)	(35,858)
Total cost of revenues									(6,516,530)	(5,596,809)	(4,271,803)
Financial Services expenses									(527)	(533)	276
Selling, general, and administrative expenses									(785,266)	(907,748)	(790,818)
Other expense, net									(58,619)	(69,345)	(17,424)
Intercompany interest									0	0	(7,922)
Income (loss) before income taxes and equity in income (loss) of subsidiaries									921,730	886,920	753,521
Income tax expense									(483,435)	(312,486)	(297,485)
Income (loss) before equity in income (loss) of subsidiaries									438,295	574,434	456,036
Equity in income (loss) of subsidiaries									58,559	58,078	40,484
Net income									496,854	632,512	496,520
Other comprehensive income (loss)									0	0	0
Comprehensive income									496,854	632,512	496,520
Non-Guarantor Subsidiaries [Member]
Homebuilding
Home sale revenues									94,592	23,558	0
Land sale revenues									3,826	2,437	0
Total homebuilding revenues									98,418	25,995	0
Financial Services									192,160	181,126	140,752
Total revenues									290,578	207,121	140,752
Homebuilding Cost of Revenues:
Home sale cost of revenues									(75,985)	(21,321)	0
Land sale cost of revenues									(3,086)	(1,959)	0
Total cost of revenues									(79,071)	(23,280)	0
Financial Services expenses									(118,762)	(108,040)	(82,010)
Selling, general, and administrative expenses									(106,315)	(49,402)	(3,907)
Other expense, net									31,150	21,852	821
Intercompany interest									2,485	1,980	10,032
Income (loss) before income taxes and equity in income (loss) of subsidiaries									20,065	50,231	65,688
Income tax expense									(9,299)	(19,915)	(25,658)
Income (loss) before equity in income (loss) of subsidiaries									10,766	30,316	40,030
Equity in income (loss) of subsidiaries									226,864	457,716	411,699
Net income									237,630	488,032	451,729
Other comprehensive income (loss)									0	0	0
Comprehensive income									237,630	488,032	451,729
Eliminating Entries [Member]
Homebuilding
Home sale revenues									0	0	0
Land sale revenues									0	0	0
Total homebuilding revenues									0	0	0
Financial Services									0	0	0
Total revenues									0	0	0
Homebuilding Cost of Revenues:
Home sale cost of revenues									0	0	0
Land sale cost of revenues									0	0	0
Total cost of revenues									0	0	0
Financial Services expenses									0	0	0
Selling, general, and administrative expenses									0	0	0
Other expense, net									0	0	0
Intercompany interest									0	0	0
Income (loss) before income taxes and equity in income (loss) of subsidiaries									0	0	0
Income tax expense									0	0	0
Income (loss) before equity in income (loss) of subsidiaries									0	0	0
Equity in income (loss) of subsidiaries									(734,484)	(1,120,544)	(948,249)
Net income									(734,484)	(1,120,544)	(948,249)
Other comprehensive income (loss)									0	0	0
Comprehensive income									$ (734,484)	$ (1,120,544)	$ (948,249)

Supplemental Guarantor Inform76

Supplemental Guarantor Information (Statement Of Cash Flows) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net cash provided by (used in) operating activities	$ 663,077	$ 68,270	$ (337,590)
Cash flows from investing activities:
Capital expenditures	(32,051)	(39,295)	(45,440)
Investment in unconsolidated subsidiaries	(23,037)	(14,539)	(454)
Cash used for business acquisition	0	(430,458)	0
Other investing activities, net	4,846	13,100	11,330
Net cash used in investing activities	(50,242)	(471,192)	(34,564)
Cash flows from financing activities:
Financial Services borrowings, net	106,183	63,744	127,636
Proceeds from debt issuance	0	1,995,937	498,087
Repayments of debt	(134,747)	(986,919)	(239,193)
Borrowings under revolving credit facility	2,720,000	619,000	125,000
Repayments under revolving credit facility	(2,720,000)	(619,000)	(125,000)
Stock option exercises	27,720	5,845	10,535
Share repurchases	(916,323)	(603,206)	(442,738)
Dividends paid	(112,748)	(124,666)	(115,958)
Intercompany activities, net	0	0	0
Net cash provided by (used in) financing activities	(1,029,915)	350,735	(161,631)
Net increase (decrease)	(417,080)	(52,187)	(533,785)
Cash, cash equivalents, and restricted cash at beginning of period	723,248	775,435	1,309,220
Cash, cash equivalents, and restricted cash at end of period	306,168	723,248	775,435
Parent Company [Member]
Net cash provided by (used in) operating activities	309,757	256,722	185,946
Cash flows from investing activities:
Capital expenditures	0	0	0
Investment in unconsolidated subsidiaries	0	0	0
Cash used for business acquisition		0
Other investing activities, net	0	0	0
Net cash used in investing activities	0	0	0
Cash flows from financing activities:
Financial Services borrowings, net	0	0	0
Proceeds from debt issuance		1,991,937	498,087
Repayments of debt	(123,000)	(965,245)	(237,995)
Borrowings under revolving credit facility	2,720,000	619,000	125,000
Repayments under revolving credit facility	(2,720,000)	(619,000)	(125,000)
Stock option exercises	27,720	5,845	10,535
Share repurchases	(916,323)	(603,206)	(442,738)
Dividends paid	(112,748)	(124,666)	(115,958)
Intercompany activities, net	814,594	(561,387)	90,959
Net cash provided by (used in) financing activities	(309,757)	(256,722)	(197,110)
Net increase (decrease)	0	0	(11,164)
Cash, cash equivalents, and restricted cash at beginning of period	0	0	11,164
Cash, cash equivalents, and restricted cash at end of period	0	0	0
Guarantor Subsidiaries [Member]
Net cash provided by (used in) operating activities	328,163	(102,054)	(430,940)
Cash flows from investing activities:
Capital expenditures	(25,432)	(36,297)	(41,857)
Investment in unconsolidated subsidiaries	(23,037)	(14,539)	(454)
Cash used for business acquisition		(430,458)
Other investing activities, net	5,778	11,189	2,391
Net cash used in investing activities	(42,691)	(470,105)	(39,920)
Cash flows from financing activities:
Financial Services borrowings, net	0	0	0
Proceeds from debt issuance		4,000	0
Repayments of debt	(10,301)	(21,235)	(1,198)
Borrowings under revolving credit facility	0	0	0
Repayments under revolving credit facility	0	0	0
Stock option exercises	0	0	0
Share repurchases	0	0	0
Dividends paid	0	0	0
Intercompany activities, net	(728,555)	541,703	(27,886)
Net cash provided by (used in) financing activities	(738,856)	524,468	(29,084)
Net increase (decrease)	(453,384)	(47,691)	(499,944)
Cash, cash equivalents, and restricted cash at beginning of period	611,185	658,876	1,158,820
Cash, cash equivalents, and restricted cash at end of period	157,801	611,185	658,876
Non-Guarantor Subsidiaries [Member]
Net cash provided by (used in) operating activities	25,157	(86,398)	(92,596)
Cash flows from investing activities:
Capital expenditures	(6,619)	(2,998)	(3,583)
Investment in unconsolidated subsidiaries	0	0	0
Cash used for business acquisition		0
Other investing activities, net	(932)	1,911	8,939
Net cash used in investing activities	(7,551)	(1,087)	5,356
Cash flows from financing activities:
Financial Services borrowings, net	106,183	63,744	127,636
Proceeds from debt issuance		0	0
Repayments of debt	(1,446)	(439)	0
Borrowings under revolving credit facility	0	0	0
Repayments under revolving credit facility	0	0	0
Stock option exercises	0	0	0
Share repurchases	0	0	0
Dividends paid	0	0	0
Intercompany activities, net	(86,039)	19,684	(63,073)
Net cash provided by (used in) financing activities	18,698	82,989	64,563
Net increase (decrease)	36,304	(4,496)	(22,677)
Cash, cash equivalents, and restricted cash at beginning of period	112,063	116,559	139,236
Cash, cash equivalents, and restricted cash at end of period	148,367	112,063	116,559
Eliminating Entries [Member]
Net cash provided by (used in) operating activities	0	0	0
Cash flows from investing activities:
Capital expenditures	0	0	0
Investment in unconsolidated subsidiaries	0	0	0
Cash used for business acquisition		0
Other investing activities, net	0	0	0
Net cash used in investing activities	0	0	0
Cash flows from financing activities:
Financial Services borrowings, net	0	0	0
Proceeds from debt issuance		0	0
Repayments of debt	0	0	0
Borrowings under revolving credit facility	0	0	0
Repayments under revolving credit facility	0	0	0
Stock option exercises	0	0	0
Share repurchases	0	0	0
Dividends paid	0	0	0
Intercompany activities, net	0	0	0
Net cash provided by (used in) financing activities	0	0	0
Net increase (decrease)	0	0	0
Cash, cash equivalents, and restricted cash at beginning of period	0	0	0
Cash, cash equivalents, and restricted cash at end of period	$ 0	$ 0	$ 0

Quarterly Results (Unaudited)77

Quarterly Results (Unaudited) (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended					12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
land inventory impairment	$ 57,500		$ 31,500
Net realizable value adjustments (NRV) - land held for sale			81,000			$ 83,576	$ 1,105	$ (901)
Litigation Settlement, Expense							15,000	20,000
Impairment Losses Related to Real Estate Partnerships			8,000			$ 8,017	0	0
Write-off of insurance receivables	(9,297)	(5,326)		(15,000)		29,624
Gain (Loss) Related to Litigation Settlement			$ 19,800
Loss on debt retirements						$ 0	657	0
Adjustment to self insurance reserves	$ 75,300				$ 55,200	(95,100)	(55,200)	(62,200)
Reserves provided						(50)	506	(11,433)
Home Office Relocation [Member]
Costs associated with the relocation of corporate headquarters							$ 8,300	$ 4,400
Florida [Member]
Product Warranty Expense						$ 12,400

Quarterly Results (Unaudited)78

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Write-off of insurance receivables	(9,297)	(5,326)		(15,000)					29,624
Homebuilding:
Revenues	$ 2,737,391	$ 2,083,067	$ 1,973,571	$ 1,587,061	$ 2,438,903	$ 1,894,885	$ 1,756,832	$ 1,396,730	$ 8,381,090	$ 7,487,350	$ 5,841,211
Cost of revenues	(2,147,431)	(1,589,728)	(1,637,536)	(1,220,906)	(1,835,928)	(1,429,133)	(1,314,972)	(1,040,056)	(6,595,601)	(5,620,089)	(4,271,803)
Income before income taxes	385,508	250,463	103,599	125,762	388,724	191,063	172,546	108,433	865,332	860,766	757,317
Financial Services:
Revenues	56,166	46,952	47,275	41,767	54,175	48,020	43,082	35,848	192,160	181,126	140,753
Income before income taxes	23,259	17,786	18,948	13,503	24,997	21,272	17,034	9,780	73,496	73,084
Consolidated results:
Total revenues	2,793,557	2,130,019	2,020,846	1,628,828	2,493,078	1,942,905	1,799,914	1,432,578	8,573,250	7,668,476	5,981,964
Income before income taxes	408,767	268,249	122,547	139,265	413,721	212,335	189,580	118,213	938,828	933,850	816,023
Income tax expense	(331,352)	(90,710)	(21,798)	(47,747)	(140,549)	(83,865)	(71,820)	(34,913)	(491,607)	(331,147)	(321,933)
Net income	$ 77,415	$ 177,539	$ 100,749	$ 91,518	$ 273,172	$ 128,470	$ 117,760	$ 83,300	$ 447,221	$ 602,703	$ 494,090
Net income per share:
Basic (usd per share)	$ 0.26	$ 0.59	$ 0.32	$ 0.29	$ 0.83	$ 0.37	$ 0.34	$ 0.24	$ 1.45	$ 1.76	$ 1.38
Diluted (usd per share)	$ 0.26	$ 0.58	$ 0.32	$ 0.28	$ 0.83	$ 0.37	$ 0.34	$ 0.24	$ 1.44	$ 1.75	$ 1.36
Number of shares used in calculation:
Basic shares outstanding (shares)	292,174	298,538	312,315	317,756	325,975	340,171	345,240	347,815	305,089	339,747	356,576
Effect of dilutive securities (shares)	1,318	1,690	1,565	2,329	1,834	2,250	2,759	2,662	1,725	2,376	3,217
Diluted shares outstanding (shares)	293,492	300,228	313,880	320,085	327,809	342,421	347,999	350,477	306,814	342,123	359,793