PulteGroup (PHM) 10-Q 23 Oct 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2018	Oct. 18, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	PULTEGROUP INC/MI/
Entity Central Index Key	822,416
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		280,861,332

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
ASSETS
Cash and equivalents	$ 728,631	$ 272,683
Restricted cash	30,381	33,485
Total cash, cash equivalents, and restricted cash	759,012	306,168
House and land inventory	7,489,454	7,147,130
Land held for sale	65,905	68,384
Residential mortgage loans available-for-sale	349,784	570,600
Investments in unconsolidated entities	54,278	62,957
Other assets	797,976	745,123
Intangible assets	130,642	140,992
Deferred tax assets, net	408,029	645,295
Total assets	10,055,080	9,686,649
Liabilities:
Accounts payable	465,833	393,815
Customer deposits	342,376	250,779
Accrued and other liabilities	1,251,518	1,356,333
Income tax liabilities	10,324	86,925
Financial Services debt	250,733	437,804
Notes payable	3,005,418	3,006,967
Total liabilities	5,326,202	5,532,623
Shareholders' equity	4,728,878	4,154,026
Total liabilities and shareholders' equity	$ 10,055,080	$ 9,686,649

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Total revenues	$ 2,649,366	$ 2,131,058	$ 7,189,181	$ 5,782,796
Homebuilding Cost of Revenues:
Selling, general, and administrative expenses	(252,757)	(237,495)	(719,706)	(689,974)
Other income (expense), net	(3,488)	(6,282)	(6,753)	(28,439)
Income before income taxes	384,688	268,249	1,018,049	530,062
Income tax expense	(95,153)	(90,710)	(233,674)	(160,255)
Net income	$ 289,535	$ 177,539	$ 784,375	$ 369,807
Per share:
Basic earnings (usd per share)	$ 1.01	$ 0.59	$ 2.72	$ 1.18
Diluted earnings (usd per share)	1.01	0.58	2.71	1.18
Cash dividends declared (usd per share)	$ 0.09	$ 0.09	$ 0.27	$ 0.27
Number of shares used in calculation:
Basic shares outstanding (shares)	283,489	298,538	285,127	309,453
Effect of dilutive securities (shares)	1,183	1,690	1,301	1,861
Diluted shares outstanding (shares)	284,672	300,228	286,428	311,314
Home sale
Revenues:
Revenues	$ 2,572,236	$ 2,055,891	$ 6,933,888	$ 5,606,953
Homebuilding Cost of Revenues:
Cost of revenues	(1,954,160)	(1,564,605)	(5,276,232)	(4,332,221)
Land sale and other
Revenues:
Revenues	25,510	28,215	104,971	39,848
Homebuilding Cost of Revenues:
Cost of revenues	(22,060)	(25,123)	(71,791)	(115,950)
Total Homebuilding
Revenues:
Revenues	2,597,746	2,084,106	7,038,859	5,646,801
Homebuilding Cost of Revenues:
Cost of revenues	(1,976,220)	(1,589,728)	(5,348,023)	(4,448,171)
Financial Services
Revenues:
Revenues	51,620	46,952	150,322	135,995
Homebuilding Cost of Revenues:
Cost of revenues	$ (32,213)	$ (29,304)	$ (96,650)	$ (86,150)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 289,535	$ 177,539	$ 784,375	$ 369,807
Other comprehensive income, net of tax:
Change in value of derivatives	25	20	75	61
Other comprehensive income	25	20	75	61
Comprehensive income (loss)	$ 289,560	$ 177,559	$ 784,450	$ 369,868

Consolidated Statements Of Shar

Consolidated Statements Of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Shareholders' Equity, shares beginning of period (shares) at Dec. 31, 2016		319,090
Shareholders' Equity beginning of period at Dec. 31, 2016	$ 4,659,363	$ 3,191	$ 3,116,490	$ (526)	$ 1,540,208
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of accounting change (see Note 1)	18,237		(406)		18,643
Stock option exercises (shares)		1,954
Stock option exercises	22,765	$ 20	22,745
Stock issuances, net of cancellations (shares)		741
Stock issuances, net of cancellations	3,565	$ 10	3,555
Dividends declared	(83,685)				(83,685)
Share repurchases (shares)		(27,849)
Share repurchases	(665,812)	$ (281)			(665,531)
Share-based compensation	20,784		20,784
Net income	369,807				369,807
Other comprehensive income	61			61
Shareholders' Equity, shares end of period (shares) at Sep. 30, 2017		293,936
Shareholders' Equity end of period at Sep. 30, 2017	4,345,085	$ 2,940	3,163,168	(465)	1,179,442
Shareholders' Equity, shares beginning of period (shares) at Dec. 31, 2017		286,752
Shareholders' Equity beginning of period at Dec. 31, 2017	4,154,026	$ 2,868	3,171,542	(445)	980,061
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of accounting change (see Note 1)	22,411		0
Stock option exercises (shares)		514
Stock option exercises	5,462	$ 5	5,457
Stock issuances, net of cancellations (shares)		874
Stock issuances, net of cancellations	3,483	$ 9	3,474
Dividends declared	(77,673)				(77,673)
Share repurchases (shares)		(6,073)
Share repurchases	(179,439)	$ (61)	(284)		(179,094)
Share-based compensation	16,158		16,158
Net income	784,375				784,375
Other comprehensive income	75			75
Shareholders' Equity, shares end of period (shares) at Sep. 30, 2018		282,067
Shareholders' Equity end of period at Sep. 30, 2018	$ 4,728,878	$ 2,821	$ 3,196,347	$ (370)	$ 1,530,080

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net income	$ 784,375	$ 369,807
Adjustments to reconcile net income to net cash from operating activities:
Deferred income tax expense	230,335	127,856
Land-related charges	13,973	131,254
Depreciation and amortization	36,717	38,689
Share-based compensation expense	21,521	26,505
Other, net	(3,466)	(1,438)
Increase (decrease) in cash due to:
Inventories	(263,734)	(758,006)
Residential mortgage loans available-for-sale	218,900	173,148
Other assets	(22,117)	22,120
Accounts payable, accrued and other liabilities	(1,524)	122,544
Net cash provided by (used in) operating activities	1,014,980	252,479
Cash flows from investing activities:
Capital expenditures	(46,529)	(23,548)
Investments in unconsolidated entities	(1,000)	(22,007)
Other investing activities, net	15,545	5,788
Net cash provided by (used in) investing activities	(31,984)	(39,767)
Cash flows from financing activities:
Repayments of debt	(82,655)	(7,001)
Borrowings under revolving credit facility	1,566,000	971,000
Repayments under revolving credit facility	(1,566,000)	(888,000)
Financial Services borrowings (repayments)	(187,071)	(85,797)
Debt issuance costs	8,165	0
Stock option exercises	5,462	22,765
Share repurchases	(179,439)	(665,812)
Dividends paid	(78,284)	(86,018)
Net cash provided by (used in) financing activities	(530,152)	(738,863)
Net increase (decrease) in cash, cash equivalents, and restricted cash	452,844	(526,151)
Cash, cash equivalents, and restricted cash at beginning of period	306,168	723,248
Cash, cash equivalents, and restricted cash at end of period	759,012	197,097
Supplemental Cash Flow Information:
Interest paid (capitalized), net	16,747	11,516
Income taxes paid, net	$ 88,544	$ 17,206

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation PulteGroup, Inc. is one of the largest homebuilders in the United States ("U.S."), and our common shares trade on the New York Stock Exchange under the ticker symbol “PHM”. Unless the context otherwise requires, the terms "PulteGroup", the "Company", "we", "us", and "our" used herein refer to PulteGroup, Inc. and its subsidiaries. While our subsidiaries engage primarily in the homebuilding business, we also engage in mortgage banking operations, conducted through Pulte Mortgage LLC (“Pulte Mortgage”), title services, and insurance brokerage operations. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal, recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the full year. These financial statements should be read in conjunction with our consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2017 . Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Reclassifications Certain prior period amounts have been reclassified to conform to the current year presentation. Subsequent events We evaluated subsequent events up until the time the financial statements were filed with the Securities and Exchange Commission (the "SEC"). Other expense, net Other expense, net consists of the following ($000’s omitted): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Write-offs of deposits and pre-acquisition costs $ (3,136 ) $ (2,680 ) $ (7,398 ) $ (9,397 ) Amortization of intangible assets (3,450 ) (3,450 ) (10,350 ) (10,350 ) Interest income 1,842 485 3,240 1,917 Interest expense (152 ) (101 ) (460 ) (371 ) Equity in earnings (loss) of unconsolidated entities (a) 886 415 2,112 (4,154 ) Miscellaneous, net 522 (951 ) 6,103 (6,084 ) Total other expense, net $ (3,488 ) $ (6,282 ) $ (6,753 ) $ (28,439 ) (a) Includes an $8.0 million impairment of an investment in an unconsolidated entity in the nine months ended September 30, 2017 (see Note 2 ). Revenue recognition Home sale revenues - Home sale revenues and related profit are generally recognized when title to and possession of the home are transferred to the buyer at the home closing date. Our performance obligation to deliver the agreed-upon home is generally satisfied in less than one year from the original contract date. Home sale contract assets consist of cash from home closings held in escrow for our benefit, typically for less than five days, which are considered deposits in-transit and classified as cash. Contract liabilities include customer deposit liabilities related to sold but undelivered homes, which totaled $342.4 million and $250.8 million at September 30, 2018 and December 31, 2017 , respectively. Substantially all of our home sales are scheduled to close and be recorded to revenue within one year from the date of receiving a customer deposit. See Note 8 for information on warranties and related obligations. Land sale revenues - 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 sales are generally outright sales of specified land parcels with cash consideration due on the closing date, which is generally when performance obligations are satisfied. During the nine months ended September 30, 2018 , we closed on a number of land sale transactions that generated gains totaling $28.9 million , as the proceeds from the sales exceeded the cost basis of the land. Substantially all performance obligations related to these transactions were satisfied at closing. Financial services revenues - Loan origination fees, commitment fees, and certain direct loan origination costs are recognized as incurred. 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. Interest income is accrued from the date a mortgage loan is originated until the loan is sold. 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 and are credited to income when related mortgage payments are received or the sub-servicing fees are earned. Revenues associated with our title operations are recognized as closing services are rendered and title insurance policies are issued, both of which generally occur as each home is closed. Insurance brokerage commissions relate to commissions on homeowner and other insurance policies placed with third party carriers through various agency channels. Our performance obligations for policy renewal commissions are satisfied upon issuance of the initial policy, and related contract assets for estimated future renewal commissions are included in other assets and totaled $30.4 million at September 30, 2018 . Contract assets totaling $27.7 million were recognized on January 1, 2018, in conjunction with the adoption of Accounting Standards Codification ("ASC") 606, "Revenue from Contracts with Customers" ("ASC 606"). Refer to " New accounting pronouncements" within Note 1 for further discussion. Earnings per share Basic earnings per share is computed by dividing income available to common shareholders (the “Numerator”) by the weighted-average number of common shares outstanding, adjusted for unvested shares (the “Denominator”) for the period. Computing diluted earnings per share is similar to computing basic earnings per share, except that the Denominator is increased to include the dilutive effects of stock options, unvested restricted shares, unvested restricted share units, and other potentially dilutive instruments. Any stock options that have an exercise price greater than the average market price are considered to be anti-dilutive and are excluded from the diluted earnings per share calculation. In accordance with ASC 260 "Earnings Per Share", the two-class method determines earnings per share for each class of common stock and participating securities according to an earnings allocation formula that adjusts the Numerator for dividends or dividend equivalents and participation rights in undistributed earnings. Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and, therefore, are included in computing earnings per share pursuant to the two-class method. Our outstanding restricted share awards, restricted share units, and deferred shares are considered participating securities. The following table presents the earnings per common share (000's omitted, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Numerator: Net income $ 289,535 $ 177,539 $ 784,375 $ 369,807 Less: earnings distributed to participating securities (279 ) (294 ) (874 ) (899 ) Less: undistributed earnings allocated to participating securities (2,871 ) (1,645 ) (7,752 ) (2,837 ) Numerator for basic earnings per share $ 286,385 $ 175,600 $ 775,749 $ 366,071 Add back: undistributed earnings allocated to participating securities 2,871 1,645 7,752 2,837 Less: undistributed earnings reallocated to participating securities (2,859 ) (1,636 ) (7,724 ) (2,820 ) Numerator for diluted earnings per share $ 286,397 $ 175,609 $ 775,777 $ 366,088 Denominator: Basic shares outstanding 283,489 298,538 285,127 309,453 Effect of dilutive securities 1,183 1,690 1,301 1,861 Diluted shares outstanding 284,672 300,228 286,428 311,314 Earnings per share: Basic $ 1.01 $ 0.59 $ 2.72 $ 1.18 Diluted $ 1.01 $ 0.58 $ 2.71 $ 1.18 Residential mortgage loans available-for-sale Substantially all of the loans originated by us are sold in the secondary mortgage market within a short period of time after origination, generally within 30 days . At September 30, 2018 and December 31, 2017 , residential mortgage loans available-for-sale had an aggregate fair value of $349.8 million and $570.6 million , respectively, and an aggregate outstanding principal balance of $341.8 million and $553.5 million , respectively. The net gain (loss) resulting from changes in fair value of these loans totaled $(0.7) million and $0.7 million for the three months ended September 30, 2018 and 2017 , respectively, and $(1.0) million and $(3.4) million for the nine months ended September 30, 2018 and 2017 , respectively. These changes in fair value were substantially offset by changes in the fair value of corresponding hedging instruments. Net gains from the sale of mortgages were $27.8 million and $27.1 million for the three months ended September 30, 2018 and 2017 , respectively, and $83.9 million and $80.1 million for the nine months ended September 30, 2018 and 2017 , respectively, and have been included in Financial Services revenues. Derivative instruments and hedging activities We are party to interest rate lock commitments ("IRLCs") with customers resulting from our mortgage origination operations. At September 30, 2018 and December 31, 2017 , we had aggregate IRLCs of $434.9 million and $210.9 million , respectively, which were originated at interest rates prevailing at the date of commitment. Since we can terminate a loan commitment if the borrower does not comply with the terms of the contract, and some loan commitments may expire without being drawn upon, these commitments do not necessarily represent future cash requirements. We evaluate the creditworthiness of these transactions through our normal credit policies. We hedge our exposure to interest rate market risk relating to residential mortgage loans available-for-sale and IRLCs using forward contracts on mortgage-backed securities, which are commitments to either purchase or sell a specified financial instrument at a specified future date for a specified price, and whole loan investor commitments, which are obligations of an investor to buy loans at a specified price within a specified time period. Forward contracts on mortgage-backed securities are the predominant derivative financial instruments we use to minimize market risk during the period from the time we extend an interest rate lock to a loan applicant until the time the loan is sold to an investor. At September 30, 2018 and December 31, 2017 , we had unexpired forward contracts of $579.0 million and $522.0 million , respectively, and whole loan investor commitments of $171.4 million and $203.1 million , respectively. Changes in the fair value of IRLCs and other derivative financial instruments are recognized in Financial Services revenues, and the fair values are reflected in other assets or other liabilities, as applicable. There are no credit-risk-related contingent features within our derivative agreements, and counterparty risk is considered minimal. Gains and losses on IRLCs and residential mortgage loans available-for-sale are substantially offset by corresponding gains or losses on forward contracts on mortgage-backed securities and whole loan investor commitments. We are generally not exposed to variability in cash flows of derivative instruments for more than approximately 60 days. The fair values of derivative instruments and their locations in the Condensed Consolidated Balance Sheets are summarized below ($000’s omitted): September 30, 2018 December 31, 2017 Other Assets Accrued and Other Liabilities Other Assets Accrued and Other Liabilities Interest rate lock commitments $ 10,536 $ 1,275 $ 5,990 $ 407 Forward contracts 2,865 239 432 817 Whole loan commitments 943 326 794 941 $ 14,344 $ 1,840 $ 7,216 $ 2,165 New accounting pronouncements On January 1, 2018, we adopted ASC 606, which is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services and satisfaction of performance obligations to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. We applied the modified retrospective method to contracts that were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported under the previous accounting standards. We recorded a net increase to opening retained earnings of $22.4 million , net of tax, as of January 1, 2018, due to the cumulative impact of adopting ASC 606, with the impact primarily related to the recognition of contract assets for insurance brokerage commission renewals. There was not a material impact to revenues as a result of applying ASC 606 for the nine months ended September 30, 2018 , and there have not been significant changes to our business processes, systems, or internal controls as a result of implementing the standard. We adopted Accounting Standards Update ("ASU") No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments" ("ASU 2016-15"), as of January 1, 2018, on a retrospective basis. ASU 2016-15 addresses several specific cash flow issues. The adoption of ASU 2016-15 had no effect on our financial statements. ASC 842, "Leases", becomes effective for us for annual and interim periods beginning January 1, 2019. The standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application. 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 statements of operations or cash flows. We continue to evaluate the full impact of the new standard, including the impact on our business processes, systems, and internal controls. In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments", 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. The standard is effective for us for annual and interim periods beginning January 1, 2020, with early adoption permitted, and requires full retrospective application on adoption. We are currently evaluating the impact the standard will have on our financial statements.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Inventory	Inventory Major components of inventory were as follows ($000’s omitted): September 30, December 31, Homes under construction $ 2,992,687 $ 2,421,405 Land under development 4,002,007 4,135,814 Raw land 494,760 589,911 $ 7,489,454 $ 7,147,130 We capitalize interest cost into inventory during the active development and construction of our communities. In all periods presented, we capitalized all Homebuilding interest costs into inventory because the level of our active inventory exceeded our debt levels. Information related to interest capitalized into inventory is as follows ($000’s omitted): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Interest in inventory, beginning of period $ 243,627 $ 212,850 $ 226,611 $ 186,097 Interest capitalized 42,743 46,077 130,474 135,949 Interest expensed (43,583 ) (36,381 ) (114,298 ) (99,500 ) Interest in inventory, end of period $ 242,787 $ 222,546 $ 242,787 $ 222,546 Land option agreements We enter into land option agreements in order to procure land for the construction of homes in the future. Pursuant to these land option agreements, we generally provide a deposit to the seller as consideration for the right to purchase land at different times in the future, usually at predetermined prices. Such contracts enable us to defer acquiring portions of properties owned by third parties or unconsolidated entities until we have determined whether and when to exercise our option, which reduces our financial risks associated with long-term land holdings. Option deposits and pre-acquisition costs (such as environmental testing, surveys, engineering, and entitlement costs) are capitalized if the costs are directly identifiable with the land under option, the costs would be capitalized if we owned the land, and acquisition of the property is probable. Such costs are reflected in other assets and are reclassified to inventory upon taking title to the land. We write off deposits and pre-acquisition costs when it becomes probable that we will not go forward with the project or recover the capitalized costs. Such decisions take into consideration changes in local market conditions, the timing of required land purchases, the availability and best use of necessary incremental capital, and other factors. We record any such write-offs of deposits and pre-acquisition costs within other expense, net. If an entity holding the land under option is a variable interest entity ("VIE"), our deposit represents a variable interest in that entity. No VIEs required consolidation at either September 30, 2018 or December 31, 2017 because we determined that we were not the VIEs' primary beneficiary. Our maximum exposure to loss related to these VIEs is generally limited to our deposits and pre-acquisition costs under the land option agreements. The following provides a summary of our interests in land option agreements as of September 30, 2018 and December 31, 2017 ($000’s omitted): September 30, 2018 December 31, 2017 Deposits and Remaining Purchase Deposits and Remaining Purchase Land options with VIEs $ 85,173 $ 1,167,087 $ 78,889 $ 977,480 Other land options 159,395 1,571,768 129,098 1,485,099 $ 244,568 $ 2,738,855 $ 207,987 $ 2,462,579 Land-related charges We incurred the following land-related charges in the second quarter of 2017 ($000's omitted): Statement of Operations Classification Net realizable value adjustments ("NRV") - land held for sale Land sale cost of revenues $ 81,006 Land inventory impairments Home sale cost of revenues 31,487 Impairments of unconsolidated entities Other expense, net 8,017 Write-offs of deposits and pre-acquisition costs Other expense, net 5,063 Total land-related charges $ 125,573 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. The NRV adjustments outlined above resulted primarily from a plan we announced in May 2017 to sell select non-core and underutilized land parcels following a strategic review of our land portfolio, pursuant to which it was determined that we would sell certain inactive land parcels, representing approximately 17 communities and 4,600 lots. These land parcels were located in diverse geographic areas and no longer fit into our strategic plans. The land parcels identified for sale included: land requiring significant additional development spend that would not yield suitable returns; land in excess of near-term need; and land entitled for certain product types inconsistent with our primary offerings. As a consequence of the change in strategy with respect to the future use of these land parcels, we recorded NRV adjustments totaling $81.0 million relating to inventory with a pre-NRV carrying value of $151.0 million . The estimated fair values of these inactive land parcels held for sale were generally based on comparisons to market comparable transactions, letters of intent, active negotiations with market participants, or similar market-based information supplemented in certain instances by estimated future net cash flows discounted for inherent risk associated with each underlying asset. Land inventory impairments relate to communities that are either active or that we intend to eventually open and build out. As part of the May 2017 strategic review, we decided to accelerate the monetization of two small communities primarily through a combination of changing the product offerings and lowering the sales prices within the communities. This decision resulted in land impairments of $31.5 million in the second quarter of 2017. We determine the fair value of a community's inventory, and any related impairments, 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, which may be located in a variety of geographic markets, and offer homes at sales prices reflective of the product offering and market. Accordingly, determining the fair value of a community's inventory involves a number of variables, many of which are interrelated. The table below summarizes certain quantitative unobservable inputs utilized in determining the fair value of the assets for which the impairments were recorded in the second quarter of 2017: Range Average selling price ($000s) $253 to $461 Sales pace per quarter (units) 5 to 9 Discount rate 18% to 25%

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Segment information	Segment information Our Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the U.S. and the construction of housing on such land. For reporting purposes, our Homebuilding operations are aggregated into six reportable segments: Northeast: Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia Southeast: Georgia, North Carolina, South Carolina, Tennessee Florida: Florida Midwest: Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio Texas: Texas West: Arizona, California, Nevada, New Mexico, Washington We also have a reportable segment for our Financial Services operations, which consist principally of mortgage banking and title operations and operate generally in the same markets as the Homebuilding segments. Operating Data by Segment Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Revenues: Northeast $ 185,614 $ 168,371 $ 518,676 $ 425,275 Southeast 451,600 393,905 1,271,730 1,104,149 Florida 506,670 338,078 1,311,016 1,015,795 Midwest 412,803 406,126 1,066,775 1,008,617 Texas 347,986 269,997 925,317 793,207 West 693,073 507,629 1,945,345 1,299,758 2,597,746 2,084,106 7,038,859 5,646,801 Financial Services 51,620 46,952 150,322 135,995 Consolidated revenues $ 2,649,366 $ 2,131,058 $ 7,189,181 $ 5,782,796 Income (loss) before income taxes (a) : Northeast $ 18,938 $ 21,046 $ 53,408 $ (12,803 ) Southeast 51,920 45,109 146,735 117,749 Florida (b) 73,802 52,191 186,238 132,824 Midwest 52,438 59,636 123,889 115,463 Texas 55,382 42,727 136,777 122,045 West (c) 138,698 75,753 382,317 107,987 Other homebuilding (d) (26,123 ) (45,999 ) (65,497 ) (103,441 ) 365,055 250,463 963,867 479,824 Financial Services 19,633 17,786 54,182 50,238 Consolidated income before income taxes $ 384,688 $ 268,249 $ 1,018,049 $ 530,062 (a) Includes land-related charges, as summarized in the table below. (b) Florida includes a warranty charge of $12.3 million for the nine months ended September 30, 2017 related to a closed-out community (see Note 8 ). (c) West includes gains of $26.4 million related to two land sale transactions in California in the nine months ended September 30, 2018 . (d) Other homebuilding includes the amortization of intangible assets and capitalized interest and other items not allocated to the operating segments. Other homebuilding also includes insurance reserve reversals of $37.9 million and $19.8 million for the nine months ended September 30, 2018 and 2017 , respectively, and write-offs of $5.3 million and $20.3 million of insurance receivables associated with the resolution of certain insurance matters in the three and nine months ended September 30, 2017 , respectively (see Note 8 ). Operating Data by Segment Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Land-related charges*: Northeast $ 1,385 $ 1,184 $ 3,068 $ 51,102 Southeast 663 889 2,394 1,847 Florida 262 109 671 8,862 Midwest 4,960 (393 ) 6,078 7,703 Texas 47 51 317 898 West 425 306 786 56,747 Other homebuilding 391 — 659 4,095 $ 8,133 $ 2,146 $ 13,973 $ 131,254 * Land-related charges include land impairments, net realizable value adjustments on land held for sale, impairments of investments in unconsolidated entities, and write-offs of deposits and pre-acquisition costs for land option contracts we elected not to pursue (see Note 2 ). Other homebuilding consists primarily of write-offs of capitalized interest related to such land-related charges. Operating Data by Segment ($000's omitted) September 30, 2018 Homes Under Land Under Raw Land Total Total Northeast $ 339,103 $ 256,014 $ 84,066 $ 679,183 $ 809,194 Southeast 497,241 645,915 79,846 1,223,002 1,388,798 Florida 528,092 885,220 73,209 1,486,521 1,632,772 Midwest 366,559 426,349 27,375 820,283 904,671 Texas 333,250 424,500 88,376 846,126 917,529 West 871,553 1,093,490 121,685 2,086,728 2,280,912 Other homebuilding (a) 56,889 270,519 20,203 347,611 1,658,881 2,992,687 4,002,007 494,760 7,489,454 9,592,757 Financial Services — — — — 462,323 $ 2,992,687 $ 4,002,007 $ 494,760 $ 7,489,454 $ 10,055,080 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 (a) 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 (a)

Debt

Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt Notes payable Our senior notes are summarized as follows ($000’s omitted): September 30, December 31, 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) (13,200 ) (13,057 ) Total senior notes 2,986,800 2,986,943 Other notes payable 18,618 20,024 Notes payable $ 3,005,418 $ 3,006,967 Estimated fair value $ 2,959,080 $ 3,263,774 (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. Other notes payable include non-recourse and limited recourse collateralized notes with third parties that totaled $18.6 million and $20.0 million at September 30, 2018 and December 31, 2017 , 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 8.01% . Revolving credit facility In June 2018, we entered into the Second Amended and Restated Credit Agreement ("Revolving Credit Facility") which replaced the Company's previous credit agreement. The Revolving Credit Facility contains substantially similar terms to the previous credit agreement and extended the maturity date from June 2019 to June 2023. The Revolving Credit Facility has a maximum borrowing capacity of $1.0 billion and contains an uncommitted accordion feature that could increase the capacity to $1.5 billion , subject to certain conditions and availability of additional bank commitments. The Revolving Credit Facility also provides for the issuance of letters of credit that reduce the available borrowing capacity under the Revolving Credit Facility, with a sublimit of $500.0 million at September 30, 2018 . The interest rate on borrowings under the Revolving Credit Facility may be based on either the London Interbank Offered Rate ("LIBOR") or a base rate plus an applicable margin, as defined therein. We had no borrowings outstanding at September 30, 2018 and December 31, 2017 , and $219.6 million and $235.5 million of letters of credit issued under the Revolving Credit Facility at September 30, 2018 and December 31, 2017 , respectively. The Revolving Credit Facility contains financial covenants that require us to maintain a minimum Tangible Net Worth, a minimum Interest Coverage Ratio, and a maximum Debt-to-Capitalization Ratio (as each term is defined in the Revolving Credit Facility). As of September 30, 2018 , we were in compliance with all covenants. Our available and unused borrowings under the Revolving Credit Facility, net of outstanding letters of credit, amounted to $780.4 million and $764.5 million at September 30, 2018 and December 31, 2017 , respectively. Joint venture debt At September 30, 2018 , aggregate outstanding debt of unconsolidated joint ventures was $49.5 million , of which $49.4 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 under 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. Financial Services debt Pulte Mortgage maintains a master repurchase agreement with third party lenders. In August 2018 , Pulte Mortgage entered into an amended and restated repurchase agreement (the “Repurchase Agreement”) that extended the effective date to August 2019 . The maximum aggregate commitment is $400.0 million at September 30, 2018 , which increases to $520.0 million during the seasonally high borrowing period from December 26, 2018 through January 14, 2019. At all other times, the maximum aggregate commitment ranges from $240.0 million to $400.0 million . The purpose of changes in capacity during the term of the agreement is to lower associated fees during seasonally lower volume periods of mortgage origination activity. Borrowings under the Repurchase Agreement are secured by residential mortgage loans available-for-sale. The Repurchase Agreement contains various affirmative and negative covenants applicable to Pulte Mortgage, including quantitative thresholds related to net worth, net income, and liquidity. Pulte Mortgage had $250.7 million and $437.8 million outstanding under the Repurchase Agreement at September 30, 2018 and December 31, 2017

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Shareholders’ equity	Shareholders’ equity During the nine months ended September 30, 2018 , we declared cash dividends totaling $77.7 million and repurchased 5.8 million shares under our repurchase authorization for $172.1 million . For the nine months ended September 30, 2017 , we declared cash dividends totaling $83.7 million and repurchased 27.8 million shares under our repurchase authorization for $659.8 million . At September 30, 2018 , we had remaining authorization to repurchase $422.4 million of common shares. Under our share-based compensation plans, we accept shares as payment under certain conditions related to stock option exercises and vesting of shares, generally related to the payment of minimum tax obligations. During the nine months ended September 30, 2018 and 2017 , participants surrendered shares valued at $7.4 million and $6.0 million

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income taxes	Income taxes Our effective tax rate for the three and nine months ended September 30, 2018 was 24.7% and 23.0% , respectively, compared to 33.8% and 30.2% , respectively, for the same periods in 2017. For the three months ended September 30, 2018 , our effective tax rate differs from the federal statutory rate primarily due to state income tax expense on current year earnings. For the nine months ended September 30, 2018 , our effective tax rate differs from the federal statutory rate primarily due to state income tax expense on current year earnings, tax benefits due to Internal Revenue Service acceptance of an accounting method change applicable to the 2017 tax year, energy credits, and tax law changes. For the same periods in the prior year, our effective tax rate differed from the federal statutory rate primarily due to state income tax expense on current year earnings, the favorable resolution of certain state income tax matters, the domestic production activities deduction, and tax law changes. Our effective tax rates for the three and nine months ended September 30, 2018 are lower than the prior year periods primarily due to the federal statutory rate reduction from 35% in 2017 to 21% in 2018 due to the Tax Cuts and Jobs Act (the “Tax Act”), which was enacted on December 22, 2017. We have not fully completed our accounting for the income tax effects of the Tax Act. As discussed in the SEC Staff Accounting Bulletin No. 118, the accounting for the Tax Act should be completed within one year from the Tax Act enactment. During the three and nine months ended September 30, 2018 , we have made no material adjustments to the provisional amounts recorded at December 31, 2017. Adjustments to the provisional amounts recorded at December 31, 2017 will be reflected upon the completion of our accounting for the Tax Act. At September 30, 2018 and December 31, 2017 , we had deferred tax assets, net of deferred tax liabilities and valuation allowance, of $408.0 million and $645.3 million , respectively. The accounting for deferred taxes is based upon estimates of future results. Differences between estimated and actual results could result in changes in the valuation of deferred tax assets that could have a material impact on our consolidated results of operations or financial position. Changes in existing tax laws could also affect actual tax results and the realization of deferred tax assets over time. Unrecognized tax benefits represent the difference between tax positions taken or expected to be taken in a tax return and the benefits recognized for financial statement purposes. At September 30, 2018 and December 31, 2017 , we had $20.7 million and $48.6 million , respectively, of gross unrecognized tax benefits and $5.4 million and $4.9 million , respectively, of related accrued interest and penalties. It is reasonably possible within the next twelve months that our gross unrecognized tax benefits may decrease by up to $12.0 million

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair value disclosures	Fair value disclosures ASC 820, “Fair Value Measurements and Disclosures,” provides a framework for measuring fair value in generally accepted accounting principles and establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The fair value hierarchy can be summarized as follows: Level 1 Fair value determined based on quoted prices in active markets for identical assets or liabilities. Level 2 Fair value determined using significant observable inputs, generally either quoted prices in active markets for similar assets or liabilities or quoted prices in markets that are not active. Level 3 Fair value determined using significant unobservable inputs, such as pricing models, discounted cash flows, or similar techniques. Our assets and liabilities measured or disclosed at fair value are summarized below ($000’s omitted): Financial Instrument Fair Value Fair Value September 30, December 31, Measured at fair value on a recurring basis: Residential mortgage loans available-for-sale Level 2 $ 349,784 $ 570,600 Interest rate lock commitments Level 2 9,261 5,583 Forward contracts Level 2 2,626 (385 ) Whole loan commitments Level 2 617 (147 ) Measured at fair value on a non-recurring basis: House and land inventory Level 3 $ 4,447 $ 11,045 Land held for sale Level 2 6,651 8,600 Disclosed at fair value: Cash, cash equivalents, and restricted cash Level 1 $ 759,012 $ 306,168 Financial Services debt Level 2 250,733 437,804 Other notes payable Level 2 18,618 20,024 Senior notes payable Level 2 2,940,462 3,243,750 Fair values for agency residential mortgage loans available-for-sale are determined based on quoted market prices for comparable instruments. Fair values for non-agency residential mortgage loans available-for-sale are determined based on purchase commitments from whole loan investors and other relevant market information available to management. Fair values for interest rate lock commitments, including the value of servicing rights, and forward contracts on mortgage-backed securities are valued based on market prices for similar instruments. Fair values for whole loan commitments are based on market prices for similar instruments from the specific whole loan investor. Certain assets are required to be recorded at fair value on a non-recurring basis when events and circumstances indicate that the carrying value may not be recoverable. The non-recurring fair values included in the above table represent only those assets whose carrying values were adjusted to fair value as of the respective balance sheet dates. See Note 2 for the valuation techniques and inputs applied in determining the fair value of house and land inventory and land held for sale. The carrying amounts of cash and equivalents, Financial Services debt, and other notes payable approximate their fair values due to their short-term nature and/or floating interest rate terms. The fair values of senior notes are based on quoted market prices, when available. If quoted market prices are not available, fair values are based on quoted market prices of similar issues. The carrying value of senior notes was $3.0 billion at both September 30, 2018 and December 31, 2017

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Loan origination liabilities Our mortgage operations may be responsible for losses associated with mortgage loans originated and sold to investors in the event of errors or omissions relating to representations and warranties made by us that the loans met certain requirements, including representations as to underwriting standards, the existence of primary mortgage insurance, and the validity of certain borrower representations in connection with the loan. In addition, certain trustees and investors continue to attempt to collect damages based on losses from loans that originated prior to 2009. Some of our mortgage subsidiaries are currently defendants in litigation related to such claims. Our recorded liabilities for all such claims totaled $34.4 million and $34.6 million at September 30, 2018 and December 31, 2017 , respectively. Determining the liabilities for anticipated losses requires a significant level of management judgment. Given the nature of these claims and the uncertainty regarding their ultimate resolution, actual costs could differ from our current estimates. 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 $219.6 million and $1.2 billion , respectively, at September 30, 2018 and $235.5 million and $1.2 billion , respectively, at December 31, 2017 . In the event any such letter of credit or surety bond is drawn, we would be obligated to reimburse the issuer of the letter of credit or surety bond. We do not believe that a material amount, if any, of the letters of credit or surety bonds will be drawn. Our surety bonds generally do not have stated expiration dates; rather we are released from the surety bonds as the underlying contractual performance is completed. Because significant construction and development work has been performed related to projects that have not yet received final acceptance by the respective counterparties, the aggregate amount of surety bonds outstanding is in excess of the projected cost of the remaining work to be performed. Litigation and regulatory matters We are involved in various litigation and legal claims in the normal course of our business operations, including actions brought on behalf of various classes of claimants. We are also subject to a variety of local, state, and federal laws and regulations related to land development activities, house construction standards, sales practices, mortgage lending operations, employment practices, and protection of the environment. As a result, we are subject to periodic examination or inquiry by various governmental agencies that administer these laws and regulations. We establish liabilities for legal claims and regulatory matters when such matters are both probable of occurring and any potential loss is reasonably estimable. We accrue for such matters based on the facts and circumstances specific to each matter and revise these estimates as the matters evolve. In such cases, there may exist an exposure to loss in excess of any amounts currently accrued. In view of the inherent difficulty of predicting the outcome of these legal and regulatory matters, we generally cannot predict the ultimate resolution of the pending matters, the related timing, or the eventual loss. While the outcome of such contingencies cannot be predicted with certainty, we do not believe that the resolution of such matters will have a material adverse impact on our results of operations, financial position, or cash flows. However, to the extent the liability arising from the ultimate resolution of any matter exceeds the estimates reflected in the recorded reserves relating to such matter, we could incur additional charges that could be significant. Allowance for warranties Home purchasers are provided with a limited warranty against certain building defects, including a one-year comprehensive limited warranty and coverage for certain other aspects of the home’s construction and operating systems for periods of up to and, in limited instances, exceeding 10 years. We estimate the costs to be incurred under these warranties and record liabilities in the amount of such costs at the time product revenue is recognized. Factors that affect our warranty liabilities include the number of homes sold, historical and anticipated rates of warranty claims, and the cost per claim. We periodically assess the adequacy of the warranty liabilities for each geographic market in which we operate and adjust the amounts as necessary. Actual warranty costs in the future could differ from the current estimates. Changes to warranty liabilities were as follows ($000’s omitted): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Warranty liabilities, beginning of period $ 72,169 $ 73,353 $ 72,709 $ 66,134 Reserves provided 18,376 12,286 46,022 35,374 Payments (15,993 ) (14,679 ) (47,403 ) (43,594 ) Other adjustments (a) 638 265 3,862 13,311 Warranty liabilities, end of period $ 75,190 $ 71,225 $ 75,190 $ 71,225 (a) During the nine months ended September 30, 2017 , we recognized a charge of $12.3 million related to estimated costs to complete repairs in a closed-out community in Florida. Self-insured risks We maintain, and require our subcontractors to maintain, general liability insurance coverage. We also maintain builders' risk, property, errors and omissions, workers' compensation, and other business insurance coverage. These insurance policies protect us against a portion of the risk of loss from claims. However, we retain a significant portion of the overall risk for such claims either through policies issued by our captive insurance subsidiaries or through our own self-insured per occurrence and aggregate retentions, deductibles, and claims in excess of available insurance policy limits. Our general liability insurance includes coverage for certain construction defects. While construction defect claims can relate to a variety of circumstances, the majority of our claims relate to alleged problems with siding, plumbing, foundations and other concrete work, windows, roofing, and heating, ventilation and air conditioning systems. The availability of general liability insurance for the homebuilding industry and its subcontractors has become increasingly limited, and the insurance policies available require us 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 our 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 omissions, workers' compensation, and other business insurance coverage. We reserve for costs associated with such claims (including expected claims management expenses) on an undiscounted basis at the time revenue is recognized for each home closing and evaluate the recorded liabilities based on actuarial analyses of our historical claims. The actuarial analyses calculate estimates of the ultimate net cost of all unpaid losses, including estimates for incurred but not reported losses ("IBNR"). IBNR represents losses related to claims incurred but not yet reported plus development on reported claims. Our recorded reserves for all such claims totaled $726.5 million and $758.8 million at September 30, 2018 and December 31, 2017 , 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 62% and 65% of the total general liability reserves at September 30, 2018 and December 31, 2017 , 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. We reduced general liability reserves by $37.9 million and $19.8 million during the nine months ended September 30, 2018 and September 30, 2017 , respectively. These reductions were the result of changes in estimates driven by claim experience being less than anticipated in previous actuarial projections. 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. Costs associated with our insurance programs are classified within selling, general, and administrative expenses. Changes in these liabilities were as follows ($000's omitted): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Balance, beginning of period $ 725,482 $ 814,756 $ 758,812 $ 831,058 Reserves provided, net 24,106 24,361 67,001 62,970 Adjustments to previously recorded reserves (a) (5,065 ) (511 ) (40,133 ) (22,304 ) Payments, net (b) (18,026 ) (13,981 ) (59,183 ) (47,099 ) Balance, end of period $ 726,497 $ 824,625 $ 726,497 $ 824,625 (a) Includes general liability reserve reversals of $37.9 million and $19.8 million for the nine months ended September 30, 2018 and September 30, 2017 , respectively. (b) Includes net changes in amounts expected to be recovered from our insurance carriers, which are recorded in other assets (see below). In certain instances, we have the ability to recover a portion of our costs under various insurance policies or from subcontractors or other third parties. Estimates of such amounts are recorded when recovery is considered probable. Such receivables are recorded in other assets and totaled $151.2 million and $213.4 million at September 30, 2018 and December 31, 2017 , respectively. The insurance receivables relate to costs incurred to perform corrective repairs, settle claims with customers, and other costs related to the continued progression of construction defect claims that we believe are insured. Given the complexity inherent with resolving construction defect claims in the homebuilding industry as described above, there generally exists a significant lag between our payment of claims and our reimbursements from applicable insurance carriers. In addition, disputes between homebuilders and carriers over coverage positions relating to construction defect claims are common. Resolution of claims with carriers involves the exchange of significant amounts of information and frequently involves legal action. During the nine months ended September 30, 2017 , we wrote-off $20.3 million of insurance receivables in conjunction with settling insurance policies with multiple carriers covering multiple years. At September 30, 2018 , we are the plaintiff in an arbitration proceeding with one of our insurance carriers in regard to $21.5 million

Supplemental Guarantor Informat

Supplemental Guarantor Information	9 Months Ended
	Sep. 30, 2018
Supplemental Guarantor Information [Abstract]
Supplemental Guarantor information	Supplemental Guarantor information All of our senior notes are guaranteed jointly and severally on a senior basis by certain of our wholly-owned Homebuilding subsidiaries and certain other wholly-owned subsidiaries (collectively, the “Guarantors”). Such guaranties are full and unconditional. Our subsidiaries comprising the Financial Services segment along with certain other subsidiaries (collectively, the "Non-Guarantor Subsidiaries") do not guarantee the senior notes. In accordance with Rule 3-10 of Regulation S-X, supplemental consolidating financial information of the Company, including such information for the Guarantors, is presented below. Investments in subsidiaries are presented using the equity method of accounting. CONDENSED CONSOLIDATING BALANCE SHEET SEPTEMBER 30, 2018 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor ASSETS Cash and equivalents $ — $ 674,271 $ 54,360 $ — $ 728,631 Restricted cash — 28,996 1,385 — 30,381 Total cash, cash equivalents, and — 703,267 55,745 — 759,012 House and land inventory — 7,392,748 96,706 — 7,489,454 Land held for sale — 65,905 — — 65,905 Residential mortgage loans available- — — 349,784 — 349,784 Investments in unconsolidated entities — 53,732 546 — 54,278 Other assets 24,202 601,877 171,897 — 797,976 Intangible assets 130,642 — — 130,642 Deferred tax assets, net 415,836 — (7,807 ) — 408,029 Investments in subsidiaries and 7,354,045 314,402 8,185,180 (15,853,627 ) — $ 7,794,083 $ 9,262,573 $ 8,852,051 $ (15,853,627 ) $ 10,055,080 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Accounts payable, customer deposits, $ 68,081 $ 1,746,660 $ 244,986 $ — $ 2,059,727 Income tax liabilities 10,324 — — — 10,324 Financial Services debt — — 250,733 — 250,733 Notes payable 2,986,800 17,962 656 — 3,005,418 Total liabilities 3,065,205 1,764,622 496,375 — 5,326,202 Total shareholders’ equity 4,728,878 7,497,951 8,355,676 (15,853,627 ) 4,728,878 $ 7,794,083 $ 9,262,573 $ 8,852,051 $ (15,853,627 ) $ 10,055,080 CONDENSED 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 — 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- — — 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 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, $ 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 STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended September 30, 2018 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 2,535,930 $ 36,306 $ — $ 2,572,236 Land sale and other revenues — 25,266 244 — 25,510 — 2,561,196 36,550 — 2,597,746 Financial Services — — 51,620 — 51,620 — 2,561,196 88,170 — 2,649,366 Homebuilding Cost of Revenues: Home sale cost of revenues — (1,928,365 ) (25,795 ) — (1,954,160 ) Land sale cost of revenues — (22,060 ) — (22,060 ) — (1,950,425 ) (25,795 ) — (1,976,220 ) Financial Services expenses — (130 ) (32,083 ) — (32,213 ) Selling, general, and administrative — (245,776 ) (6,981 ) — (252,757 ) Other income (expense), net (120 ) (12,398 ) 9,030 — (3,488 ) Intercompany interest (2,158 ) 2,158 — — Income (loss) before income taxes and (2,278 ) 352,467 34,499 — 384,688 Income tax (expense) benefit 609 (88,368 ) (7,394 ) — (95,153 ) Income (loss) before equity in income (1,669 ) 264,099 27,105 — 289,535 Equity in income (loss) of subsidiaries 291,204 25,094 190,161 (506,459 ) — Net income (loss) 289,535 289,193 217,266 (506,459 ) 289,535 Other comprehensive income 25 — — — 25 Comprehensive income (loss) $ 289,560 $ 289,193 $ 217,266 $ (506,459 ) $ 289,560 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended September 30, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 2,032,391 $ 23,500 $ — $ 2,055,891 Land sale and other revenues — 27,954 261 — 28,215 — 2,060,345 23,761 — 2,084,106 Financial Services — — 46,952 — 46,952 — 2,060,345 70,713 — 2,131,058 Homebuilding Cost of Revenues: Home sale cost of revenues — (1,545,712 ) (18,893 ) — (1,564,605 ) Land sale cost of revenues — (24,896 ) (227 ) — (25,123 ) — (1,570,608 ) (19,120 ) — (1,589,728 ) Financial Services expenses — (121 ) (29,183 ) — (29,304 ) Selling, general, and administrative — (225,845 ) (11,650 ) — (237,495 ) Other income (expense), net (96 ) (12,670 ) 6,484 — (6,282 ) Intercompany interest (756 ) — 756 — — Income (loss) before income taxes and (852 ) 251,101 18,000 — 268,249 Income tax (expense) benefit 945 (84,666 ) (6,989 ) — (90,710 ) Income before equity in income 93 166,435 11,011 — 177,539 Equity in income (loss) of subsidiaries 177,446 18,040 114,564 (310,050 ) — Net income (loss) 177,539 184,475 125,575 (310,050 ) 177,539 Other comprehensive income 20 — — — 20 Comprehensive income (loss) $ 177,559 $ 184,475 $ 125,575 $ (310,050 ) $ 177,559 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the nine months ended September 30, 2018 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 6,852,430 $ 81,458 $ — $ 6,933,888 Land sale and other revenues — 103,243 1,728 — 104,971 — 6,955,673 83,186 — 7,038,859 Financial Services — — 150,322 — 150,322 — 6,955,673 233,508 — 7,189,181 Homebuilding Cost of Revenues: Home sale cost of revenues — (5,214,408 ) (61,824 ) — (5,276,232 ) Land sale cost of revenues — (70,774 ) (1,017 ) — (71,791 ) — (5,285,182 ) (62,841 ) — (5,348,023 ) Financial Services expenses — (405 ) (96,245 ) — (96,650 ) Selling, general, and administrative — (699,311 ) (20,395 ) — (719,706 ) Other income (expense), net (458 ) (33,436 ) 27,141 — (6,753 ) Intercompany interest (5,710 ) — 5,710 — — Income (loss) before income taxes and (6,168 ) 937,339 86,878 — 1,018,049 Income tax (expense) benefit 1,543 (213,876 ) (21,341 ) — (233,674 ) Income (loss) before equity in income (4,625 ) 723,463 65,537 — 784,375 Equity in income (loss) of subsidiaries 789,000 62,162 559,184 (1,410,346 ) — Net income (loss) 784,375 785,625 624,721 (1,410,346 ) 784,375 Other comprehensive income 75 — — — 75 Comprehensive income (loss) $ 784,450 $ 785,625 $ 624,721 $ (1,410,346 ) $ 784,450 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the nine months ended September 30, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 5,554,349 $ 52,604 $ — $ 5,606,953 Land sale and other revenues — 37,268 2,580 — 39,848 — 5,591,617 55,184 — 5,646,801 Financial Services — — 135,995 — 135,995 — 5,591,617 191,179 — 5,782,796 Homebuilding Cost of Revenues: Home sale cost of revenues — (4,288,754 ) (43,467 ) — (4,332,221 ) Land sale cost of revenues — (113,899 ) (2,051 ) — (115,950 ) — (4,402,653 ) (45,518 ) — (4,448,171 ) Financial Services expenses — (384 ) (85,766 ) — (86,150 ) Selling, general, and administrative — (653,930 ) (36,044 ) — (689,974 ) Other income (expense), net (354 ) (49,436 ) 21,351 — (28,439 ) Intercompany interest (1,634 ) — 1,634 — — Income (loss) before income taxes and (1,988 ) 485,214 46,836 — 530,062 Income tax (expense) benefit 1,377 (143,324 ) (18,308 ) — (160,255 ) Income (loss) before equity in income (611 ) 341,890 28,528 — 369,807 Equity in income (loss) of subsidiaries 370,418 36,307 197,494 (604,219 ) — Net income (loss) 369,807 378,197 226,022 (604,219 ) 369,807 Other comprehensive income 61 — — — 61 Comprehensive income (loss) $ 369,868 $ 378,197 $ 226,022 $ (604,219 ) $ 369,868 CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2018 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ 347,335 $ 389,110 $ 278,535 $ — $ 1,014,980 Cash flows from investing activities: Capital expenditures — (40,483 ) (6,046 ) — (46,529 ) Investments in unconsolidated entities — (1,000 ) — — (1,000 ) Other investing activities, net 11,299 4,246 — 15,545 Net cash provided by (used in) — (30,184 ) (1,800 ) — (31,984 ) Cash flows from financing activities: Financial Services borrowing (repayments), net — (187,071 ) — (187,071 ) Repayments of debt — (81,757 ) (898 ) — (82,655 ) Borrowings under revolving credit facility 1,566,000 — — — 1,566,000 Repayments under revolving credit facility (1,566,000 ) — — — (1,566,000 ) Debt issuance costs (8,165 ) — — — (8,165 ) Stock option exercises 5,462 — — — 5,462 Share repurchases (179,439 ) — — — (179,439 ) Dividends paid (78,284 ) — — — (78,284 ) Intercompany activities, net (86,909 ) 268,297 (181,388 ) — — Net cash provided by (used in) (347,335 ) 186,540 (369,357 ) — (530,152 ) Net increase (decrease) in cash, cash equivalents, and restricted cash — 545,466 (92,622 ) — 452,844 Cash, cash equivalents, and restricted cash — 157,801 148,367 — 306,168 Cash, cash equivalents, and restricted cash $ — $ 703,267 $ 55,745 $ — $ 759,012 CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ 58,575 $ 43,042 $ 150,862 $ — $ 252,479 Cash flows from investing activities: Capital expenditures — (19,693 ) (3,855 ) — (23,548 ) Investments in unconsolidated entities — (22,007 ) — — (22,007 ) Other investing activities, net — 5,728 60 — 5,788 Net cash provided by (used in) — (35,972 ) (3,795 ) — (39,767 ) Cash flows from financing activities: Financial Services borrowings (repayments), net — — (85,797 ) — (85,797 ) Repayments of debt — (6,031 ) (970 ) — (7,001 ) Borrowings under revolving credit facility 971,000 — — — 971,000 Repayments under revolving credit facility (888,000 ) — — — (888,000 ) Stock option exercises 22,765 — — — 22,765 Share repurchases (665,812 ) — — — (665,812 ) Dividends paid (86,018 ) — — — (86,018 ) Intercompany activities, net 587,490 (470,052 ) (117,438 ) — — Net cash provided by (used in) (58,575 ) (476,083 ) (204,205 ) — (738,863 ) Net increase decrease in cash, cash equivalents, and restricted cash — (469,013 ) (57,138 ) — (526,151 ) Cash, cash equivalents, and restricted cash — 611,185 112,063 — 723,248 Cash, cash equivalents, and restricted cash $ — $ 142,172 $ 54,925 $ — $ 197,097

Basis of Presentation (Policy)

Basis of Presentation (Policy)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Consolidation policy	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal, recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the full year. These financial statements should be read in conjunction with our consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2017
Use of estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Reclassifications	Certain prior period amounts have been reclassified to conform to the current year presentation
Subsequent events	We evaluated subsequent events up until the time the financial statements were filed with the Securities and Exchange Commission (the "SEC").
Revenue recognition	Revenue recognition Home sale revenues - Home sale revenues and related profit are generally recognized when title to and possession of the home are transferred to the buyer at the home closing date. Our performance obligation to deliver the agreed-upon home is generally satisfied in less than one year from the original contract date. Home sale contract assets consist of cash from home closings held in escrow for our benefit, typically for less than five days, which are considered deposits in-transit and classified as cash. Contract liabilities include customer deposit liabilities related to sold but undelivered homes, which totaled $342.4 million and $250.8 million at September 30, 2018 and December 31, 2017 , respectively. Substantially all of our home sales are scheduled to close and be recorded to revenue within one year from the date of receiving a customer deposit. See Note 8 for information on warranties and related obligations. Land sale revenues - 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 sales are generally outright sales of specified land parcels with cash consideration due on the closing date, which is generally when performance obligations are satisfied. During the nine months ended September 30, 2018 , we closed on a number of land sale transactions that generated gains totaling $28.9 million , as the proceeds from the sales exceeded the cost basis of the land. Substantially all performance obligations related to these transactions were satisfied at closing. Financial services revenues - Loan origination fees, commitment fees, and certain direct loan origination costs are recognized as incurred. 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. Interest income is accrued from the date a mortgage loan is originated until the loan is sold. 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 and are credited to income when related mortgage payments are received or the sub-servicing fees are earned. Revenues associated with our title operations are recognized as closing services are rendered and title insurance policies are issued, both of which generally occur as each home is closed. Insurance brokerage commissions relate to commissions on homeowner and other insurance policies placed with third party carriers through various agency channels. Our performance obligations for policy renewal commissions are satisfied upon issuance of the initial policy, and related contract assets for estimated future renewal commissions are included in other assets and totaled $30.4 million at September 30, 2018 . Contract assets totaling $27.7 million were recognized on January 1, 2018, in conjunction with the adoption of Accounting Standards Codification ("ASC") 606, "Revenue from Contracts with Customers" ("ASC 606"). Refer to " New accounting pronouncements" within Note 1
Earnings per share	Basic earnings per share is computed by dividing income available to common shareholders (the “Numerator”) by the weighted-average number of common shares outstanding, adjusted for unvested shares (the “Denominator”) for the period. Computing diluted earnings per share is similar to computing basic earnings per share, except that the Denominator is increased to include the dilutive effects of stock options, unvested restricted shares, unvested restricted share units, and other potentially dilutive instruments. Any stock options that have an exercise price greater than the average market price are considered to be anti-dilutive and are excluded from the diluted earnings per share calculation.
Residential mortgage loans available-for-sale	Substantially all of the loans originated by us are sold in the secondary mortgage market within a short period of time after origination, generally within 30 days . At September 30, 2018 and December 31, 2017 , residential mortgage loans available-for-sale had an aggregate fair value of $349.8 million and $570.6 million , respectively, and an aggregate outstanding principal balance of $341.8 million and $553.5 million , respectively. The net gain (loss) resulting from changes in fair value of these loans totaled $(0.7) million and $0.7 million for the three months ended September 30, 2018 and 2017 , respectively, and $(1.0) million and $(3.4) million for the nine months ended September 30, 2018 and 2017 , respectively. These changes in fair value were substantially offset by changes in the fair value of corresponding hedging instruments. Net gains from the sale of mortgages were $27.8 million and $27.1 million for the three months ended September 30, 2018 and 2017 , respectively, and $83.9 million and $80.1 million for the nine months ended September 30, 2018 and 2017 , respectively, and have been included in Financial Services revenues.
Derivative instruments and hedging activities	We are party to interest rate lock commitments ("IRLCs") with customers resulting from our mortgage origination operations. At September 30, 2018 and December 31, 2017 , we had aggregate IRLCs of $434.9 million and $210.9 million , respectively, which were originated at interest rates prevailing at the date of commitment. Since we can terminate a loan commitment if the borrower does not comply with the terms of the contract, and some loan commitments may expire without being drawn upon, these commitments do not necessarily represent future cash requirements. We evaluate the creditworthiness of these transactions through our normal credit policies. We hedge our exposure to interest rate market risk relating to residential mortgage loans available-for-sale and IRLCs using forward contracts on mortgage-backed securities, which are commitments to either purchase or sell a specified financial instrument at a specified future date for a specified price, and whole loan investor commitments, which are obligations of an investor to buy loans at a specified price within a specified time period. Forward contracts on mortgage-backed securities are the predominant derivative financial instruments we use to minimize market risk during the period from the time we extend an interest rate lock to a loan applicant until the time the loan is sold to an investor. At September 30, 2018 and December 31, 2017 , we had unexpired forward contracts of $579.0 million and $522.0 million , respectively, and whole loan investor commitments of $171.4 million and $203.1 million , respectively. Changes in the fair value of IRLCs and other derivative financial instruments are recognized in Financial Services revenues, and the fair values are reflected in other assets or other liabilities, as applicable. There are no credit-risk-related contingent features within our derivative agreements, and counterparty risk is considered minimal. Gains and losses on IRLCs and residential mortgage loans available-for-sale are substantially offset by corresponding gains or losses on forward contracts on mortgage-backed securities and whole loan investor commitments. We are generally not exposed to variability in cash flows of derivative instruments for more than approximately 60
New accounting pronouncements	On January 1, 2018, we adopted ASC 606, which is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services and satisfaction of performance obligations to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. We applied the modified retrospective method to contracts that were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported under the previous accounting standards. We recorded a net increase to opening retained earnings of $22.4 million , net of tax, as of January 1, 2018, due to the cumulative impact of adopting ASC 606, with the impact primarily related to the recognition of contract assets for insurance brokerage commission renewals. There was not a material impact to revenues as a result of applying ASC 606 for the nine months ended September 30, 2018 , and there have not been significant changes to our business processes, systems, or internal controls as a result of implementing the standard. We adopted Accounting Standards Update ("ASU") No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments" ("ASU 2016-15"), as of January 1, 2018, on a retrospective basis. ASU 2016-15 addresses several specific cash flow issues. The adoption of ASU 2016-15 had no effect on our financial statements. ASC 842, "Leases", becomes effective for us for annual and interim periods beginning January 1, 2019. The standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application. 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 statements of operations or cash flows. We continue to evaluate the full impact of the new standard, including the impact on our business processes, systems, and internal controls. In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments", 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. The standard is effective for us for annual and interim periods beginning January 1, 2020, with early adoption permitted, and requires full retrospective application on adoption. We are currently evaluating the impact the standard will have on our financial statements.
Inventory interest capitalization	We capitalize interest cost into inventory during the active development and construction of our communities. In all periods presented, we capitalized all Homebuilding interest costs into inventory because the level of our active inventory exceeded our debt levels.
Fair value of financial instruments	Fair values for agency residential mortgage loans available-for-sale are determined based on quoted market prices for comparable instruments. Fair values for non-agency residential mortgage loans available-for-sale are determined based on purchase commitments from whole loan investors and other relevant market information available to management. Fair values for interest rate lock commitments, including the value of servicing rights, and forward contracts on mortgage-backed securities are valued based on market prices for similar instruments. Fair values for whole loan commitments are based on market prices for similar instruments from the specific whole loan investor. Certain assets are required to be recorded at fair value on a non-recurring basis when events and circumstances indicate that the carrying value may not be recoverable. The non-recurring fair values included in the above table represent only those assets whose carrying values were adjusted to fair value as of the respective balance sheet dates. See Note 2 for the valuation techniques and inputs applied in determining the fair value of house and land inventory and land held for sale. The carrying amounts of cash and equivalents, Financial Services debt, and other notes payable approximate their fair values due to their short-term nature and/or floating interest rate terms. The fair values of senior notes are based on quoted market prices, when available. If quoted market prices are not available, fair values are based on quoted market prices of similar issues. The carrying value of senior notes was $3.0 billion at both September 30, 2018 and December 31, 2017
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 $219.6 million and $1.2 billion , respectively, at September 30, 2018 and $235.5 million and $1.2 billion , respectively, at December 31, 2017
Legal reserves	We are involved in various litigation and legal claims in the normal course of our business operations, including actions brought on behalf of various classes of claimants. We are also subject to a variety of local, state, and federal laws and regulations related to land development activities, house construction standards, sales practices, mortgage lending operations, employment practices, and protection of the environment. As a result, we are subject to periodic examination or inquiry by various governmental agencies that administer these laws and regulations. We establish liabilities for legal claims and regulatory matters when such matters are both probable of occurring and any potential loss is reasonably estimable. We accrue for such matters based on the facts and circumstances specific to each matter and revise these estimates as the matters evolve. In such cases, there may exist an exposure to loss in excess of any amounts currently accrued. In view of the inherent difficulty of predicting the outcome of these legal and regulatory matters, we generally cannot predict the ultimate resolution of the pending matters, the related timing, or the eventual loss. While the outcome of such contingencies cannot be predicted with certainty, we do not believe that the resolution of such matters will have a material adverse impact on our results of operations, financial position, or cash flows. However, to the extent the liability arising from the ultimate resolution of any matter exceeds the estimates reflected in the recorded reserves relating to such matter, we could incur additional charges that could be significant.
Allowance for warranties	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
Self insured risks	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 us 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 our 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 omissions, workers' compensation, and other business insurance coverage. We reserve for costs associated with such claims (including expected claims management expenses) on an undiscounted basis at the time revenue is recognized for each home closing and evaluate the recorded liabilities based on actuarial analyses of our historical claims. The actuarial analyses calculate estimates of the ultimate net cost of all unpaid losses, including estimates for incurred but not reported losses ("IBNR"). IBNR represents losses related to claims incurred but not yet reported plus development on reported claims. Our recorded reserves for all such claims totaled $726.5 million and $758.8 million at September 30, 2018 and December 31, 2017 , 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 62% and 65% of the total general liability reserves at September 30, 2018 and December 31, 2017 , 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. We reduced general liability reserves by $37.9 million and $19.8 million during the nine months ended September 30, 2018 and September 30, 2017 , respectively. These reductions were the result of changes in estimates driven by claim experience being less than anticipated in previous actuarial projections. 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.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Schedule of Other Expense (Income), Net	Other expense, net consists of the following ($000’s omitted): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Write-offs of deposits and pre-acquisition costs $ (3,136 ) $ (2,680 ) $ (7,398 ) $ (9,397 ) Amortization of intangible assets (3,450 ) (3,450 ) (10,350 ) (10,350 ) Interest income 1,842 485 3,240 1,917 Interest expense (152 ) (101 ) (460 ) (371 ) Equity in earnings (loss) of unconsolidated entities (a) 886 415 2,112 (4,154 ) Miscellaneous, net 522 (951 ) 6,103 (6,084 ) Total other expense, net $ (3,488 ) $ (6,282 ) $ (6,753 ) $ (28,439 )
Schedule of Earnings Per Share	The following table presents the earnings per common share (000's omitted, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Numerator: Net income $ 289,535 $ 177,539 $ 784,375 $ 369,807 Less: earnings distributed to participating securities (279 ) (294 ) (874 ) (899 ) Less: undistributed earnings allocated to participating securities (2,871 ) (1,645 ) (7,752 ) (2,837 ) Numerator for basic earnings per share $ 286,385 $ 175,600 $ 775,749 $ 366,071 Add back: undistributed earnings allocated to participating securities 2,871 1,645 7,752 2,837 Less: undistributed earnings reallocated to participating securities (2,859 ) (1,636 ) (7,724 ) (2,820 ) Numerator for diluted earnings per share $ 286,397 $ 175,609 $ 775,777 $ 366,088 Denominator: Basic shares outstanding 283,489 298,538 285,127 309,453 Effect of dilutive securities 1,183 1,690 1,301 1,861 Diluted shares outstanding 284,672 300,228 286,428 311,314 Earnings per share: Basic $ 1.01 $ 0.59 $ 2.72 $ 1.18 Diluted $ 1.01 $ 0.58 $ 2.71 $ 1.18
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The fair values of derivative instruments and their locations in the Condensed Consolidated Balance Sheets are summarized below ($000’s omitted): September 30, 2018 December 31, 2017 Other Assets Accrued and Other Liabilities Other Assets Accrued and Other Liabilities Interest rate lock commitments $ 10,536 $ 1,275 $ 5,990 $ 407 Forward contracts 2,865 239 432 817 Whole loan commitments 943 326 794 941 $ 14,344 $ 1,840 $ 7,216 $ 2,165

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Components of Inventory	Major components of inventory were as follows ($000’s omitted): September 30, December 31, Homes under construction $ 2,992,687 $ 2,421,405 Land under development 4,002,007 4,135,814 Raw land 494,760 589,911 $ 7,489,454 $ 7,147,130
Capitalized Interest Rollforward	Information related to interest capitalized into inventory is as follows ($000’s omitted): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Interest in inventory, beginning of period $ 243,627 $ 212,850 $ 226,611 $ 186,097 Interest capitalized 42,743 46,077 130,474 135,949 Interest expensed (43,583 ) (36,381 ) (114,298 ) (99,500 ) Interest in inventory, end of period $ 242,787 $ 222,546 $ 242,787 $ 222,546
Schedule Of Company Interests In Land Option Agreements	The following provides a summary of our interests in land option agreements as of September 30, 2018 and December 31, 2017 ($000’s omitted): September 30, 2018 December 31, 2017 Deposits and Remaining Purchase Deposits and Remaining Purchase Land options with VIEs $ 85,173 $ 1,167,087 $ 78,889 $ 977,480 Other land options 159,395 1,571,768 129,098 1,485,099 $ 244,568 $ 2,738,855 $ 207,987 $ 2,462,579
Schedule Of Impairment Losses	We incurred the following land-related charges in the second quarter of 2017 ($000's omitted): Statement of Operations Classification Net realizable value adjustments ("NRV") - land held for sale Land sale cost of revenues $ 81,006 Land inventory impairments Home sale cost of revenues 31,487 Impairments of unconsolidated entities Other expense, net 8,017 Write-offs of deposits and pre-acquisition costs Other expense, net 5,063 Total land-related charges $ 125,573
Schedule of Fair Value Inputs	The table below summarizes certain quantitative unobservable inputs utilized in determining the fair value of the assets for which the impairments were recorded in the second quarter of 2017: Range Average selling price ($000s) $253 to $461 Sales pace per quarter (units) 5 to 9 Discount rate 18% to 25%

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Components of Reportable Segments	For reporting purposes, our Homebuilding operations are aggregated into six reportable segments: Northeast: Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia Southeast: Georgia, North Carolina, South Carolina, Tennessee Florida: Florida Midwest: Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio Texas: Texas West: Arizona, California, Nevada, New Mexico, Washington
Operating Data By Reporting Segment	Operating Data by Segment Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Revenues: Northeast $ 185,614 $ 168,371 $ 518,676 $ 425,275 Southeast 451,600 393,905 1,271,730 1,104,149 Florida 506,670 338,078 1,311,016 1,015,795 Midwest 412,803 406,126 1,066,775 1,008,617 Texas 347,986 269,997 925,317 793,207 West 693,073 507,629 1,945,345 1,299,758 2,597,746 2,084,106 7,038,859 5,646,801 Financial Services 51,620 46,952 150,322 135,995 Consolidated revenues $ 2,649,366 $ 2,131,058 $ 7,189,181 $ 5,782,796 Income (loss) before income taxes (a) : Northeast $ 18,938 $ 21,046 $ 53,408 $ (12,803 ) Southeast 51,920 45,109 146,735 117,749 Florida (b) 73,802 52,191 186,238 132,824 Midwest 52,438 59,636 123,889 115,463 Texas 55,382 42,727 136,777 122,045 West (c) 138,698 75,753 382,317 107,987 Other homebuilding (d) (26,123 ) (45,999 ) (65,497 ) (103,441 ) 365,055 250,463 963,867 479,824 Financial Services 19,633 17,786 54,182 50,238 Consolidated income before income taxes $ 384,688 $ 268,249 $ 1,018,049 $ 530,062 (a) Includes land-related charges, as summarized in the table below. (b) Florida includes a warranty charge of $12.3 million for the nine months ended September 30, 2017 related to a closed-out community (see Note 8 ). (c) West includes gains of $26.4 million related to two land sale transactions in California in the nine months ended September 30, 2018 . (d) Other homebuilding includes the amortization of intangible assets and capitalized interest and other items not allocated to the operating segments. Other homebuilding also includes insurance reserve reversals of $37.9 million and $19.8 million for the nine months ended September 30, 2018 and 2017 , respectively, and write-offs of $5.3 million and $20.3 million of insurance receivables associated with the resolution of certain insurance matters in the three and nine months ended September 30, 2017 , respectively (see Note 8
Total Assets And Inventory By Reporting Segment	Operating Data by Segment ($000's omitted) September 30, 2018 Homes Under Land Under Raw Land Total Total Northeast $ 339,103 $ 256,014 $ 84,066 $ 679,183 $ 809,194 Southeast 497,241 645,915 79,846 1,223,002 1,388,798 Florida 528,092 885,220 73,209 1,486,521 1,632,772 Midwest 366,559 426,349 27,375 820,283 904,671 Texas 333,250 424,500 88,376 846,126 917,529 West 871,553 1,093,490 121,685 2,086,728 2,280,912 Other homebuilding (a) 56,889 270,519 20,203 347,611 1,658,881 2,992,687 4,002,007 494,760 7,489,454 9,592,757 Financial Services — — — — 462,323 $ 2,992,687 $ 4,002,007 $ 494,760 $ 7,489,454 $ 10,055,080 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 (a) 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 (a)

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of Senior Notes	Our senior notes are summarized as follows ($000’s omitted): September 30, December 31, 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) (13,200 ) (13,057 ) Total senior notes 2,986,800 2,986,943 Other notes payable 18,618 20,024 Notes payable $ 3,005,418 $ 3,006,967 Estimated fair value $ 2,959,080 $ 3,263,774 (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.

Fair Value Disclosures Fair Val

Fair Value Disclosures Fair Value Disclosures (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis	Our assets and liabilities measured or disclosed at fair value are summarized below ($000’s omitted): Financial Instrument Fair Value Fair Value September 30, December 31, Measured at fair value on a recurring basis: Residential mortgage loans available-for-sale Level 2 $ 349,784 $ 570,600 Interest rate lock commitments Level 2 9,261 5,583 Forward contracts Level 2 2,626 (385 ) Whole loan commitments Level 2 617 (147 ) Measured at fair value on a non-recurring basis: House and land inventory Level 3 $ 4,447 $ 11,045 Land held for sale Level 2 6,651 8,600 Disclosed at fair value: Cash, cash equivalents, and restricted cash Level 1 $ 759,012 $ 306,168 Financial Services debt Level 2 250,733 437,804 Other notes payable Level 2 18,618 20,024 Senior notes payable Level 2 2,940,462 3,243,750

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Summary of Changes in Loan Origination Liability	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. In addition, certain trustees and investors continue to attempt to collect damages based on losses from loans that originated prior to 2009. Some of our mortgage subsidiaries are currently defendants in litigation related to such claims. Our recorded liabilities for all such claims totaled $34.4 million and $34.6 million at September 30, 2018 and December 31, 2017 , respectively. Determining the liabilities for anticipated losses requires a significant level of management judgment. Given the nature of these claims and the uncertainty regarding their ultimate resolution, actual costs could differ from our current estimates.
Summary of Changes in Warranty Liability	Changes to warranty liabilities were as follows ($000’s omitted): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Warranty liabilities, beginning of period $ 72,169 $ 73,353 $ 72,709 $ 66,134 Reserves provided 18,376 12,286 46,022 35,374 Payments (15,993 ) (14,679 ) (47,403 ) (43,594 ) Other adjustments (a) 638 265 3,862 13,311 Warranty liabilities, end of period $ 75,190 $ 71,225 $ 75,190 $ 71,225 (a) During the nine months ended September 30, 2017 , we recognized a charge of $12.3 million related to estimated costs to complete repairs in a closed-out community in Florida.
Summary of Changes in Self-Insurance Liability	Changes in these liabilities were as follows ($000's omitted): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Balance, beginning of period $ 725,482 $ 814,756 $ 758,812 $ 831,058 Reserves provided, net 24,106 24,361 67,001 62,970 Adjustments to previously recorded reserves (a) (5,065 ) (511 ) (40,133 ) (22,304 ) Payments, net (b) (18,026 ) (13,981 ) (59,183 ) (47,099 ) Balance, end of period $ 726,497 $ 824,625 $ 726,497 $ 824,625 (a) Includes general liability reserve reversals of $37.9 million and $19.8 million for the nine months ended September 30, 2018 and September 30, 2017 , respectively. (b)

Supplemental Guarantor Inform_2

Supplemental Guarantor Information (Tables)	9 Months Ended
	Sep. 30, 2018
Supplemental Guarantor Information [Abstract]
Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET SEPTEMBER 30, 2018 ($000’s omitted) Unconsolidated Eliminating Consolidated PulteGroup, Guarantor Non-Guarantor ASSETS Cash and equivalents $ — $ 674,271 $ 54,360 $ — $ 728,631 Restricted cash — 28,996 1,385 — 30,381 Total cash, cash equivalents, and — 703,267 55,745 — 759,012 House and land inventory — 7,392,748 96,706 — 7,489,454 Land held for sale — 65,905 — — 65,905 Residential mortgage loans available- — — 349,784 — 349,784 Investments in unconsolidated entities — 53,732 546 — 54,278 Other assets 24,202 601,877 171,897 — 797,976 Intangible assets 130,642 — — 130,642 Deferred tax assets, net 415,836 — (7,807 ) — 408,029 Investments in subsidiaries and 7,354,045 314,402 8,185,180 (15,853,627 ) — $ 7,794,083 $ 9,262,573 $ 8,852,051 $ (15,853,627 ) $ 10,055,080 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities: Accounts payable, customer deposits, $ 68,081 $ 1,746,660 $ 244,986 $ — $ 2,059,727 Income tax liabilities 10,324 — — — 10,324 Financial Services debt — — 250,733 — 250,733 Notes payable 2,986,800 17,962 656 — 3,005,418 Total liabilities 3,065,205 1,764,622 496,375 — 5,326,202 Total shareholders’ equity 4,728,878 7,497,951 8,355,676 (15,853,627 ) 4,728,878 $ 7,794,083 $ 9,262,573 $ 8,852,051 $ (15,853,627 ) $ 10,055,080 CONDENSED 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 — 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- — — 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 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, $ 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 Statement of Operations and Comprehensive Income (Loss)	CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended September 30, 2018 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 2,535,930 $ 36,306 $ — $ 2,572,236 Land sale and other revenues — 25,266 244 — 25,510 — 2,561,196 36,550 — 2,597,746 Financial Services — — 51,620 — 51,620 — 2,561,196 88,170 — 2,649,366 Homebuilding Cost of Revenues: Home sale cost of revenues — (1,928,365 ) (25,795 ) — (1,954,160 ) Land sale cost of revenues — (22,060 ) — (22,060 ) — (1,950,425 ) (25,795 ) — (1,976,220 ) Financial Services expenses — (130 ) (32,083 ) — (32,213 ) Selling, general, and administrative — (245,776 ) (6,981 ) — (252,757 ) Other income (expense), net (120 ) (12,398 ) 9,030 — (3,488 ) Intercompany interest (2,158 ) 2,158 — — Income (loss) before income taxes and (2,278 ) 352,467 34,499 — 384,688 Income tax (expense) benefit 609 (88,368 ) (7,394 ) — (95,153 ) Income (loss) before equity in income (1,669 ) 264,099 27,105 — 289,535 Equity in income (loss) of subsidiaries 291,204 25,094 190,161 (506,459 ) — Net income (loss) 289,535 289,193 217,266 (506,459 ) 289,535 Other comprehensive income 25 — — — 25 Comprehensive income (loss) $ 289,560 $ 289,193 $ 217,266 $ (506,459 ) $ 289,560 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the three months ended September 30, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Revenues: Homebuilding Home sale revenues $ — $ 2,032,391 $ 23,500 $ — $ 2,055,891 Land sale and other revenues — 27,954 261 — 28,215 — 2,060,345 23,761 — 2,084,106 Financial Services — — 46,952 — 46,952 — 2,060,345 70,713 — 2,131,058 Homebuilding Cost of Revenues: Home sale cost of revenues — (1,545,712 ) (18,893 ) — (1,564,605 ) Land sale cost of revenues — (24,896 ) (227 ) — (25,123 ) — (1,570,608 ) (19,120 ) — (1,589,728 ) Financial Services expenses — (121 ) (29,183 ) — (29,304 ) Selling, general, and administrative — (225,845 ) (11,650 ) — (237,495 ) Other income (expense), net (96 ) (12,670 ) 6,484 — (6,282 ) Intercompany interest (756 ) — 756 — — Income (loss) before income taxes and (852 ) 251,101 18,000 — 268,249 Income tax (expense) benefit 945 (84,666 ) (6,989 ) — (90,710 ) Income before equity in income 93 166,435 11,011 — 177,539 Equity in income (loss) of subsidiaries 177,446 18,040 114,564 (310,050 ) — Net income (loss) 177,539 184,475 125,575 (310,050 ) 177,539 Other comprehensive income 20 — — — 20 Comprehensive income (loss) $ 177,559 $ 184,475 $ 125,575 $ (310,050 ) $ 177,559
Consolidating Statement Of Cash Flows	CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2018 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ 347,335 $ 389,110 $ 278,535 $ — $ 1,014,980 Cash flows from investing activities: Capital expenditures — (40,483 ) (6,046 ) — (46,529 ) Investments in unconsolidated entities — (1,000 ) — — (1,000 ) Other investing activities, net 11,299 4,246 — 15,545 Net cash provided by (used in) — (30,184 ) (1,800 ) — (31,984 ) Cash flows from financing activities: Financial Services borrowing (repayments), net — (187,071 ) — (187,071 ) Repayments of debt — (81,757 ) (898 ) — (82,655 ) Borrowings under revolving credit facility 1,566,000 — — — 1,566,000 Repayments under revolving credit facility (1,566,000 ) — — — (1,566,000 ) Debt issuance costs (8,165 ) — — — (8,165 ) Stock option exercises 5,462 — — — 5,462 Share repurchases (179,439 ) — — — (179,439 ) Dividends paid (78,284 ) — — — (78,284 ) Intercompany activities, net (86,909 ) 268,297 (181,388 ) — — Net cash provided by (used in) (347,335 ) 186,540 (369,357 ) — (530,152 ) Net increase (decrease) in cash, cash equivalents, and restricted cash — 545,466 (92,622 ) — 452,844 Cash, cash equivalents, and restricted cash — 157,801 148,367 — 306,168 Cash, cash equivalents, and restricted cash $ — $ 703,267 $ 55,745 $ — $ 759,012 CONSOLIDATING STATEMENT OF CASH FLOWS For the nine months ended September 30, 2017 ($000’s omitted) Unconsolidated Consolidated PulteGroup, Guarantor Non-Guarantor Eliminating Net cash provided by (used in) $ 58,575 $ 43,042 $ 150,862 $ — $ 252,479 Cash flows from investing activities: Capital expenditures — (19,693 ) (3,855 ) — (23,548 ) Investments in unconsolidated entities — (22,007 ) — — (22,007 ) Other investing activities, net — 5,728 60 — 5,788 Net cash provided by (used in) — (35,972 ) (3,795 ) — (39,767 ) Cash flows from financing activities: Financial Services borrowings (repayments), net — — (85,797 ) — (85,797 ) Repayments of debt — (6,031 ) (970 ) — (7,001 ) Borrowings under revolving credit facility 971,000 — — — 971,000 Repayments under revolving credit facility (888,000 ) — — — (888,000 ) Stock option exercises 22,765 — — — 22,765 Share repurchases (665,812 ) — — — (665,812 ) Dividends paid (86,018 ) — — — (86,018 ) Intercompany activities, net 587,490 (470,052 ) (117,438 ) — — Net cash provided by (used in) (58,575 ) (476,083 ) (204,205 ) — (738,863 ) Net increase decrease in cash, cash equivalents, and restricted cash — (469,013 ) (57,138 ) — (526,151 ) Cash, cash equivalents, and restricted cash — 611,185 112,063 — 723,248 Cash, cash equivalents, and restricted cash $ — $ 142,172 $ 54,925 $ — $ 197,097

Basis of Presentation (Other Ex

Basis of Presentation (Other Expense (Income), Net) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Accounting Policies [Abstract]
Write-offs of deposits and pre-acquisition costs	$ (3,136)	$ (2,680)	$ (5,063)	$ (7,398)	$ (9,397)
Amortization of intangible assets	(3,450)	(3,450)		(10,350)	(10,350)
Interest income	1,842	485		3,240	1,917
Interest expense	(152)	(101)		(460)	(371)
Equity in earnings (loss) of unconsolidated entities	886	415		2,112	(4,154)
Miscellaneous, net	522	(951)		6,103	(6,084)
Total other expense, net	$ (3,488)	$ (6,282)		$ (6,753)	(28,439)
Impairments of unconsolidated entities			$ 8,017		$ 8,000

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) - USD ($) $ in Thousands	Jan. 01, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Customer deposits		$ 342,376		$ 342,376		$ 250,779
Gain (loss) on land sale gains, net		28,900
contract asset insurance renewals	$ 27,700	30,400		30,400
Residential mortgage loans available-for-sale fair value		349,784		349,784		570,600
Residential mortgage loans available-for-sale aggregate outstanding principal balance		341,800		341,800		553,500
Changes in fair value, gain (loss)		(700)	$ 700	(1,000)	$ (3,400)
Net gains from the sale of mortgages		27,800	$ 27,100	$ 83,900	80,100
Variability in future cash flows of derivative instruments in days				60 days
Cumulative effect of accounting change (see Note 1)				$ 22,411	18,237
Interest rate lock commitments
Finite-Lived Intangible Assets [Line Items]
Derivative, notional amount		434,900		434,900		210,900
Forward contracts
Finite-Lived Intangible Assets [Line Items]
Derivative, notional amount		579,000		579,000		522,000
Whole loan commitments
Finite-Lived Intangible Assets [Line Items]
Derivative, notional amount		$ 171,400		$ 171,400		$ 203,100
Retained Earnings
Finite-Lived Intangible Assets [Line Items]
Cumulative effect of accounting change (see Note 1)	$ 22,411				$ 18,643

Basis of Presentation (Earnings

Basis of Presentation (Earnings per share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Numerator:
Net income	$ 289,535	$ 177,539	$ 784,375	$ 369,807
Less: earnings distributed to participating securities	(279)	(294)	(874)	(899)
Less: undistributed earnings allocated to participating securities	(2,871)	(1,645)	(7,752)	(2,837)
Numerator for basic earnings per share	286,385	175,600	775,749	366,071
Add back: undistributed earnings allocated to participating securities	2,871	1,645	7,752	2,837
Less: undistributed earnings reallocated to participating securities	(2,859)	(1,636)	(7,724)	(2,820)
Numerator for diluted earnings per share	$ 286,397	$ 175,609	$ 775,777	$ 366,088
Denominator:
Basic shares outstanding (shares)	283,489	298,538	285,127	309,453
Effect of dilutive securities (shares)	1,183	1,690	1,301	1,861
Diluted shares outstanding (shares)	284,672	300,228	286,428	311,314
Earnings per share:
Basic earnings (usd per share)	$ 1.01	$ 0.59	$ 2.72	$ 1.18
Diluted earnings (usd per share)	$ 1.01	$ 0.58	$ 2.71	$ 1.18

Basis of Presentation (Fair Val

Basis of Presentation (Fair Value Of the Company's Derivative Instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	$ 14,344	$ 7,216
Accrued and Other Liabilities	1,840	2,165
Interest rate lock commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	10,536	5,990
Accrued and Other Liabilities	1,275	407
Forward contracts
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	2,865	432
Accrued and Other Liabilities	239	817
Whole loan commitments
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Other Assets	943	794
Accrued and Other Liabilities	$ 326	$ 941

Inventory (Major Components Of

Inventory (Major Components Of Inventory) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Homes under construction	$ 2,992,687	$ 2,421,405
Land under development	4,002,007	4,135,814
Raw land	494,760	589,911
Total Inventory	$ 7,489,454	$ 7,147,130

Inventory (Information Related

Inventory (Information Related To Interest Capitalized Into Homebuilding Inventory) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest in inventory, beginning of period	$ 243,627	$ 212,850	$ 226,611	$ 186,097
Interest capitalized	42,743	46,077	130,474	135,949
Interest expensed	(43,583)	(36,381)	(114,298)	(99,500)
Interest in inventory, end of period	$ 242,787	$ 222,546	$ 242,787	$ 222,546

Inventory (Summary of Interests

Inventory (Summary of Interests in Land Option Agreements) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Variable Interest Entity [Line Items]
Deposits and Pre-acquisition Costs	$ 244,568	$ 207,987
Remaining Purchase Price	2,738,855	2,462,579
Land options with VIEs
Variable Interest Entity [Line Items]
Deposits and Pre-acquisition Costs	85,173	78,889
Remaining Purchase Price	1,167,087	977,480
Other land options
Variable Interest Entity [Line Items]
Deposits and Pre-acquisition Costs	159,395	129,098
Remaining Purchase Price	$ 1,571,768	$ 1,485,099

Inventory Inventory (Summary of

Inventory Inventory (Summary of Land-related Charges) (Details) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Inventory Disclosure [Abstract]
Net realizable value adjustments (NRV) - land held for sale			$ 81,006
Land inventory impairments			31,487	$ 13,973	$ 131,254
Impairments of unconsolidated entities			8,017		8,000
Write-offs of deposits and pre-acquisition costs	$ 3,136	$ 2,680	5,063	7,398	9,397
Total land-related charges	$ 8,133	$ 2,146	$ 125,573	$ 13,973	$ 131,254

Inventory - Narrative (Details)

Inventory - Narrative (Details) $ in Thousands	May 03, 2017communitylot	Jun. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)
Inventory Disclosure [Abstract]
Number of communities tested for impairment | community	17
Number of units in real estate property | lot	4,600
Net realizable value adjustments (NRV) - land held for sale		$ 81,006
Carrying amount impaired land - prior impairment				$ 151,000
Number of communities | community	2
Land inventory impairments		$ 31,487	$ 13,973	$ 131,254

Inventory - Inventory Fair Valu

Inventory - Inventory Fair Value Unobservable Inputs (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)homecommunity
Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Average selling price ($000s)	$ 253
Sales pace per quarter (units) | community	5
Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Average selling price ($000s)	$ 461
Sales pace per quarter (units) | home	9
Measurement Input, Discount Rate | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Discount rate	18.00%
Measurement Input, Discount Rate | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Discount rate	25.00%

Segment Information Narrative (

Segment Information Narrative (Details)	9 Months Ended
	Sep. 30, 2018segment
Segment Reporting [Abstract]
Number of reportable segments	6

Segment Information (Operating

Segment Information (Operating Data By Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Total revenues	$ 2,649,366	$ 2,131,058	$ 7,189,181	$ 5,782,796
Income before Income Taxes:
Income before income taxes	$ 384,688	268,249	1,018,049	530,062
West area gains on land sale transactions			(26,400)
Number of land sales	two
Adjustment to self insurance reserves			37,900	19,800
Write-off of insurance receivables		5,300		20,300
Northeast
Income before Income Taxes:
Income before income taxes	$ 18,938	21,046	53,408	(12,803)
Southeast
Income before Income Taxes:
Income before income taxes	51,920	45,109	146,735	117,749
Florida
Income before Income Taxes:
Income before income taxes	73,802	52,191	186,238	132,824
Product warranty expense				(12,300)
Midwest
Income before Income Taxes:
Income before income taxes	52,438	59,636	123,889	115,463
Texas
Income before Income Taxes:
Income before income taxes	55,382	42,727	136,777	122,045
West
Income before Income Taxes:
Income before income taxes	138,698	75,753	382,317	107,987
Other homebuilding
Income before Income Taxes:
Income before income taxes	(26,123)	(45,999)	(65,497)	(103,441)
Home sales
Income before Income Taxes:
Income before income taxes	365,055	250,463	963,867	479,824
Financial Services
Income before Income Taxes:
Income before income taxes	19,633	17,786	54,182	50,238
Total Homebuilding
Revenues:
Total revenues	2,597,746	2,084,106	7,038,859	5,646,801
Total Homebuilding | Northeast
Revenues:
Total revenues	185,614	168,371	518,676	425,275
Total Homebuilding | Southeast
Revenues:
Total revenues	451,600	393,905	1,271,730	1,104,149
Total Homebuilding | Florida
Revenues:
Total revenues	506,670	338,078	1,311,016	1,015,795
Total Homebuilding | Midwest
Revenues:
Total revenues	412,803	406,126	1,066,775	1,008,617
Total Homebuilding | Texas
Revenues:
Total revenues	347,986	269,997	925,317	793,207
Total Homebuilding | West
Revenues:
Total revenues	693,073	507,629	1,945,345	1,299,758
Financial Services
Revenues:
Total revenues	$ 51,620	$ 46,952	$ 150,322	$ 135,995

Segment Information Segment Inf

Segment Information Segment Information (Land-Related Charges by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Restructuring Cost and Reserve [Line Items]
Production Related Impairments or Charges	$ 8,133	$ 2,146	$ 125,573	$ 13,973	$ 131,254
Northeast
Restructuring Cost and Reserve [Line Items]
Production Related Impairments or Charges	1,385	1,184		3,068	51,102
Southeast
Restructuring Cost and Reserve [Line Items]
Production Related Impairments or Charges	663	889		2,394	1,847
Florida
Restructuring Cost and Reserve [Line Items]
Production Related Impairments or Charges	262	109		671	8,862
Midwest
Restructuring Cost and Reserve [Line Items]
Production Related Impairments or Charges	4,960	(393)		6,078	7,703
Texas
Restructuring Cost and Reserve [Line Items]
Production Related Impairments or Charges	47	51		317	898
West
Restructuring Cost and Reserve [Line Items]
Production Related Impairments or Charges	425	306		786	56,747
Other homebuilding
Restructuring Cost and Reserve [Line Items]
Production Related Impairments or Charges	$ 391	$ 0		$ 659	$ 4,095

Segment Information (Total Asse

Segment Information (Total Assets And Inventory By Reportable Segment) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Segment Reporting Information
Homes under construction	$ 2,992,687	$ 2,421,405
Land under development	4,002,007	4,135,814
Raw land	494,760	589,911
Total Inventory	7,489,454	7,147,130
Total Assets	10,055,080	9,686,649
Northeast
Segment Reporting Information
Homes under construction	339,103	234,413
Land under development	256,014	327,599
Raw land	84,066	73,574
Total Inventory	679,183	635,586
Total Assets	809,194	791,511
Southeast
Segment Reporting Information
Homes under construction	497,241	433,411
Land under development	645,915	613,626
Raw land	79,846	121,238
Total Inventory	1,223,002	1,168,275
Total Assets	1,388,798	1,287,992
Florida
Segment Reporting Information
Homes under construction	528,092	359,651
Land under development	885,220	876,856
Raw land	73,209	109,069
Total Inventory	1,486,521	1,345,576
Total Assets	1,632,772	1,481,837
Midwest
Segment Reporting Information
Homes under construction	366,559	299,896
Land under development	426,349	476,694
Raw land	27,375	28,482
Total Inventory	820,283	805,072
Total Assets	904,671	877,282
Texas
Segment Reporting Information
Homes under construction	333,250	251,613
Land under development	424,500	435,018
Raw land	88,376	87,392
Total Inventory	846,126	774,023
Total Assets	917,529	859,847
West
Segment Reporting Information
Homes under construction	871,553	798,706
Land under development	1,093,490	1,137,940
Raw land	121,685	147,493
Total Inventory	2,086,728	2,084,139
Total Assets	2,280,912	2,271,328
Other homebuilding
Segment Reporting Information
Homes under construction	56,889	43,715
Land under development	270,519	268,081
Raw land	20,203	22,663
Total Inventory	347,611	334,459
Total Assets	1,658,881	1,469,234
Home sales
Segment Reporting Information
Homes under construction	2,992,687	2,421,405
Land under development	4,002,007	4,135,814
Raw land	494,760	589,911
Total Inventory	7,489,454	7,147,130
Total Assets	9,592,757	9,039,031
Financial Services
Segment Reporting Information
Homes under construction	0	0
Land under development	0	0
Raw land	0	0
Total Inventory	0	0
Total Assets	$ 462,323	$ 647,618

Debt (Summary of Senior Notes)

Debt (Summary of Senior Notes) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Net premiums, discounts, and issuance costs (b)	$ (13,200)	$ (13,057)
Total senior notes	2,986,800	2,986,943
Other notes payable	18,618	20,024
Notes payable	3,005,418	3,006,967
Estimated fair value	$ 2,959,080	$ 3,263,774
4.250% unsecured senior notes due March 2021 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.25%	4.25%
Face amount	$ 700,000	$ 700,000
5.500% unsecured senior notes due March 2026 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5.50%	5.50%
Face amount	$ 700,000	$ 700,000
5.000% unsecured senior notes due January 2027 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5.00%	5.00%
Face amount	$ 600,000	$ 600,000
7.875% unsecured senior notes due June 2032 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	7.875%	7.875%
Face amount	$ 300,000	$ 300,000
6.375% unsecured senior notes due May 2033 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	6.375%	6.375%
Face amount	$ 400,000	$ 400,000
6.000% unsecured senior notes due February 2035 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	6.00%	6.00%
Face amount	$ 300,000	$ 300,000

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017	Oct. 13, 2017
Debt Instrument [Line Items]
Other notes payable	$ 18,618,000	$ 20,024,000
Debt instrument term	3 years
Letters of credit outstanding	$ 219,600,000	235,500,000
Line of credit facility, remaining borrowing capacity	780,400,000	764,500,000
Joint venture debt total	49,500,000
Joint venture debt company proportionate share total	49,400,000
Long-term line of credit	$ 250,733,000	437,804,000
Maximum
Debt Instrument [Line Items]
Stated interest rate	8.01%
Unconsolidated Joint Ventures
Debt Instrument [Line Items]
Equity method investment, ownership percentage	50.00%
Revolving Credit Facility Accordion Feature
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,500,000,000		$ 1,000,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum additional issuance	500,000,000
Line of credit, current	0	0
Line of Credit | Financial Services
Debt Instrument [Line Items]
Long-term line of credit	250,700,000	$ 437,800,000
Amendment Effective September 24, 2018 through and including December 25, 2018 | Line of Credit | Financial Services
Debt Instrument [Line Items]
Maximum borrowing capacity	400,000,000
Amendment Effective December 26, 2018 through and including January 14, 2019 | Line of Credit | Financial Services
Debt Instrument [Line Items]
Maximum borrowing capacity	520,000,000
Amendment Effective January 15, 2019 through and including March 24, 2019 | Line of Credit | Financial Services
Debt Instrument [Line Items]
Maximum borrowing capacity	240,000,000
Amendment Effective March 25, 2019 through August 2, 2019 | Line of Credit | Financial Services
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 400,000,000

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) $ in Thousands, shares in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Class of Stock [Line Items]
Dividends	$ 77,673	$ 83,685
Payments for repurchase of common stock	$ 179,439	$ 665,812
Share repurchase plan
Class of Stock [Line Items]
Share repurchases (shares)	5.8	27.8
Payments for repurchase of common stock	$ 172,100	$ 659,800
Remaining value of stock repurchase programs authorization	422,400
Shares withheld to pay taxes
Class of Stock [Line Items]
Payments for repurchase of common stock	$ 7,400	$ 6,000

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Effective income tax	24.70%	33.80%	23.00%	30.20%
Deferred tax assets, net	$ 408		$ 408		$ 645.3
Gross unrecognized tax benefits	20.7		20.7		48.6
Accrued interest and penalties on unrecognized tax benefits	5.4		5.4		$ 4.9
Possible decrease in unrecognized tax benefits	$ 12		$ 12

Fair Value Disclosures (Details

Fair Value Disclosures (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Disclosed at fair value:
Other notes payable	$ 18,618	$ 20,024
Level 2
Disclosed at fair value:
Financial Services debt	250,733	437,804
Senior notes payable	2,940,462	3,243,750
Level 1
Disclosed at fair value:
Cash, cash equivalents, and restricted cash	759,012	306,168
Land held for sale | Fair Value, Measurements, Nonrecurring | Level 2
Measured at fair value on a non-recurring basis:
Assets, Fair Value Disclosure	6,651	8,600
House and land inventory | Fair Value, Measurements, Nonrecurring | Level 3
Measured at fair value on a non-recurring basis:
Assets, Fair Value Disclosure	4,447	11,045
Residential Mortgage | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a non-recurring basis:
Assets, Fair Value Disclosure	349,784	570,600
Interest rate lock commitments | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a non-recurring basis:
Assets, Fair Value Disclosure	9,261	5,583
Forward contracts | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a recurring basis:
Financial and Nonfinancial Liabilities, Fair Value Disclosure	(2,626)	385
Whole loan commitments | Fair Value, Measurements, Recurring | Level 2
Measured at fair value on a recurring basis:
Financial and Nonfinancial Liabilities, Fair Value Disclosure		$ (147)
Measured at fair value on a non-recurring basis:
Assets, Fair Value Disclosure	$ 617

Fair Value Disclosures Narrativ

Fair Value Disclosures Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Total senior notes	$ 2,986,800	$ 2,986,943

Commitments and Contingencies_2

Commitments and Contingencies (Changes To Anticipated Loan Losses) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Loss Contingency Accrual	$ 34.4	$ 34.6

Commitments and Contingencies_3

Commitments and Contingencies (Narrative) (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)claim	Sep. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Loss Contingencies [Line Items]
Letters of credit outstanding		$ 219,600			$ 235,500
Surety bonds outstanding		$ 1,200,000			1,200,000
Maximum product warranty in years		10 years
Number of individual claims managed | claim		1,000
Self-insurance liabilities	$ 824,625	$ 726,497	$ 824,625	$ 725,482	$ 758,812	$ 814,756	$ 831,058
Incurred but not reported percentage of liability reserves		62.00%			65.00%
Adjustment to self insurance reserves		$ 37,900	19,800
Write-off of insurance receivables	$ 5,300		$ 20,300
Litigation of recorded insurance receivable		21,500
Other Assets
Loss Contingencies [Line Items]
Recorded insurance receivables		$ 151,200			$ 213,400

Commitments and Contingencies_4

Commitments and Contingencies (Changes To Warranty Liability) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty liabilities, beginning of period	$ 72,169	$ 73,353	$ 72,709	$ 66,134
Reserves provided	18,376	12,286	46,022	35,374
Payments	(15,993)	(14,679)	(47,403)	(43,594)
Other adjustments (a)	638	265	3,862	13,311
Warranty liabilities, end of period	$ 75,190	$ 71,225	$ 75,190	71,225
Florida
Movement in Standard Product Warranty Accrual [Roll Forward]
Product warranty expense				$ 12,300

Commitments and Contingencies_5

Commitments and Contingencies (Changes in Self-insurance Liability) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Changes in Self-insurance Liability [Roll Forward]
Balance, beginning of period	$ 725,482	$ 814,756	$ 758,812	$ 831,058
Reserves provided, net	24,106	24,361	67,001	62,970
Adjustments to previously recorded reserves (a)	(5,065)	(511)	(40,133)	(22,304)
Payments, net (b)	(18,026)	(13,981)	(59,183)	(47,099)
Balance, end of period	$ 726,497	$ 824,625	726,497	824,625
Adjustment to self insurance reserves			$ 37,900	$ 19,800

Supplemental Guarantor Inform_3

Supplemental Guarantor Information (Balance Sheet) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Cash and equivalents	$ 728,631	$ 272,683
Restricted cash	30,381	33,485
House and land inventory	7,489,454	7,147,130
Land held for sale	65,905	68,384
Residential mortgage loans available-for-sale	349,784	570,600
Investments in unconsolidated entities	54,278	62,957
Other assets	797,976	745,123
Intangible assets	130,642	140,992
Deferred tax assets, net	408,029	645,295
Investments in subsidiaries and intercompany accounts, net	0	0
Total assets	10,055,080	9,686,649
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	2,059,727	2,000,927
Income tax liabilities	10,324	86,925
Financial Services debt	250,733	437,804
Notes payable	3,005,418	3,006,967
Total liabilities	5,326,202	5,532,623
Total shareholders’ equity	4,728,878	4,154,026	$ 4,345,085	$ 4,659,363
Total liabilities and shareholders' equity	10,055,080	9,686,649
Eliminating Entries
ASSETS
Cash and equivalents	0	0
Restricted cash	0	0
House and land inventory	0	0
Land held for sale	0	0
Residential mortgage loans available-for-sale	0	0
Investments in unconsolidated entities	0	0
Other assets	0	0
Intangible assets	0	0
Deferred tax assets, net	0	0
Investments in subsidiaries and intercompany accounts, net	(15,853,627)	(14,246,748)
Total assets	(15,853,627)	(14,246,748)
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	(15,853,627)	(14,246,748)
Total liabilities and shareholders' equity	(15,853,627)	(14,246,748)
PulteGroup, Inc.
ASSETS
Cash and equivalents	0	0
Restricted cash	0	0
House and land inventory	0	0
Land held for sale	0	0
Residential mortgage loans available-for-sale	0	0
Investments in unconsolidated entities	0	0
Other assets	24,202	9,417
Intangible assets		0
Deferred tax assets, net	415,836	646,227
Investments in subsidiaries and intercompany accounts, net	7,354,045	6,661,638
Total assets	7,794,083	7,317,282
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	68,081	89,388
Income tax liabilities	10,324	86,925
Financial Services debt	0	0
Notes payable	2,986,800	2,986,943
Total liabilities	3,065,205	3,163,256
Total shareholders’ equity	4,728,878	4,154,026
Total liabilities and shareholders' equity	7,794,083	7,317,282
Guarantor Subsidiaries
ASSETS
Cash and equivalents	674,271	125,462
Restricted cash	28,996	32,339
House and land inventory	7,392,748	7,053,087
Land held for sale	65,905	68,384
Residential mortgage loans available-for-sale	0	0
Investments in unconsolidated entities	53,732	62,415
Other assets	601,877	592,045
Intangible assets	130,642	140,992
Deferred tax assets, net	0	0
Investments in subsidiaries and intercompany accounts, net	314,402	284,983
Total assets	9,262,573	8,359,707
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	1,746,660	1,636,913
Income tax liabilities	0	0
Financial Services debt	0	0
Notes payable	17,962	16,911
Total liabilities	1,764,622	1,653,824
Total shareholders’ equity	7,497,951	6,705,883
Total liabilities and shareholders' equity	9,262,573	8,359,707
Non-Guarantor Subsidiaries
ASSETS
Cash and equivalents	54,360	147,221
Restricted cash	1,385	1,146
House and land inventory	96,706	94,043
Land held for sale	0	0
Residential mortgage loans available-for-sale	349,784	570,600
Investments in unconsolidated entities	546	542
Other assets	171,897	143,661
Intangible assets	0	0
Deferred tax assets, net	(7,807)	(932)
Investments in subsidiaries and intercompany accounts, net	8,185,180	7,300,127
Total assets	8,852,051	8,256,408
Liabilities:
Accounts payable, customer deposits, accrued and other liabilities	244,986	274,626
Income tax liabilities	0	0
Financial Services debt	250,733	437,804
Notes payable	656	3,113
Total liabilities	496,375	715,543
Total shareholders’ equity	8,355,676	7,540,865
Total liabilities and shareholders' equity	$ 8,852,051	$ 8,256,408

Supplemental Guarantor Inform_4

Supplemental Guarantor Information (Statement of Operations and Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Homebuilding
Total revenues	$ 2,649,366	$ 2,131,058	$ 7,189,181	$ 5,782,796
Homebuilding Cost of Revenues:
Selling, general, and administrative expenses	(252,757)	(237,495)	(719,706)	(689,974)
Other income (expense), net	(3,488)	(6,282)	(6,753)	(28,439)
Intercompany interest	0	0	0	0
Income (loss) before income taxes and equity in income (loss) of subsidiaries	384,688	268,249	1,018,049	530,062
Income tax (expense) benefit	(95,153)	(90,710)	(233,674)	(160,255)
Income (loss) before equity in income (loss) of subsidiaries	289,535	177,539	784,375	369,807
Equity in income (loss) of subsidiaries	0	0	0	0
Net income	289,535	177,539	784,375	369,807
Other comprehensive income	25	20	75	61
Comprehensive income (loss)	289,560	177,559	784,450	369,868
Eliminating Entries
Homebuilding
Total revenues	0	0	0	0
Homebuilding Cost of Revenues:
Selling, general, and administrative expenses	0	0	0	0
Other income (expense), net	0	0	0	0
Intercompany interest	0	0	0	0
Income (loss) before income taxes and equity in income (loss) of subsidiaries	0	0	0	0
Income tax (expense) benefit	0	0	0	0
Income (loss) before equity in income (loss) of subsidiaries	0	0	0	0
Equity in income (loss) of subsidiaries	(506,459)	(310,050)	(1,410,346)	(604,219)
Net income	(506,459)	(310,050)	(1,410,346)	(604,219)
Other comprehensive income	0	0	0	0
Comprehensive income (loss)	(506,459)	(310,050)	(1,410,346)	(604,219)
PulteGroup, Inc.
Homebuilding
Total revenues	0	0	0	0
Homebuilding Cost of Revenues:
Selling, general, and administrative expenses	0	0	0	0
Other income (expense), net	(120)	(96)	(458)	(354)
Intercompany interest	(2,158)	(756)	(5,710)	(1,634)
Income (loss) before income taxes and equity in income (loss) of subsidiaries	(2,278)	(852)	(6,168)	(1,988)
Income tax (expense) benefit	609	945	1,543	1,377
Income (loss) before equity in income (loss) of subsidiaries	(1,669)	93	(4,625)	(611)
Equity in income (loss) of subsidiaries	291,204	177,446	789,000	370,418
Net income	289,535	177,539	784,375	369,807
Other comprehensive income	25	20	75	61
Comprehensive income (loss)	289,560	177,559	784,450	369,868
Guarantor Subsidiaries
Homebuilding
Total revenues	2,561,196	2,060,345	6,955,673	5,591,617
Homebuilding Cost of Revenues:
Selling, general, and administrative expenses	(245,776)	(225,845)	(699,311)	(653,930)
Other income (expense), net	(12,398)	(12,670)	(33,436)	(49,436)
Intercompany interest		0	0	0
Income (loss) before income taxes and equity in income (loss) of subsidiaries	352,467	251,101	937,339	485,214
Income tax (expense) benefit	(88,368)	(84,666)	(213,876)	(143,324)
Income (loss) before equity in income (loss) of subsidiaries	264,099	166,435	723,463	341,890
Equity in income (loss) of subsidiaries	25,094	18,040	62,162	36,307
Net income	289,193	184,475	785,625	378,197
Other comprehensive income	0	0	0	0
Comprehensive income (loss)	289,193	184,475	785,625	378,197
Non-Guarantor Subsidiaries
Homebuilding
Total revenues	88,170	70,713	233,508	191,179
Homebuilding Cost of Revenues:
Selling, general, and administrative expenses	(6,981)	(11,650)	(20,395)	(36,044)
Other income (expense), net	9,030	6,484	27,141	21,351
Intercompany interest	2,158	756	5,710	1,634
Income (loss) before income taxes and equity in income (loss) of subsidiaries	34,499	18,000	86,878	46,836
Income tax (expense) benefit	(7,394)	(6,989)	(21,341)	(18,308)
Income (loss) before equity in income (loss) of subsidiaries	27,105	11,011	65,537	28,528
Equity in income (loss) of subsidiaries	190,161	114,564	559,184	197,494
Net income	217,266	125,575	624,721	226,022
Other comprehensive income	0	0	0	0
Comprehensive income (loss)	217,266	125,575	624,721	226,022
Total Homebuilding
Homebuilding
Revenues	2,597,746	2,084,106	7,038,859	5,646,801
Homebuilding Cost of Revenues:
Cost of revenues	(1,976,220)	(1,589,728)	(5,348,023)	(4,448,171)
Total Homebuilding | Eliminating Entries
Homebuilding
Revenues	0	0	0	0
Homebuilding Cost of Revenues:
Cost of revenues	0	0	0	0
Total Homebuilding | PulteGroup, Inc.
Homebuilding
Revenues	0	0	0	0
Homebuilding Cost of Revenues:
Cost of revenues	0	0	0	0
Total Homebuilding | Guarantor Subsidiaries
Homebuilding
Revenues	2,561,196	2,060,345	6,955,673	5,591,617
Homebuilding Cost of Revenues:
Cost of revenues	(1,950,425)	(1,570,608)	(5,285,182)	(4,402,653)
Total Homebuilding | Non-Guarantor Subsidiaries
Homebuilding
Revenues	36,550	23,761	83,186	55,184
Homebuilding Cost of Revenues:
Cost of revenues	(25,795)	(19,120)	(62,841)	(45,518)
Home sales
Homebuilding
Revenues	2,572,236	2,055,891	6,933,888	5,606,953
Homebuilding Cost of Revenues:
Cost of revenues	(1,954,160)	(1,564,605)	(5,276,232)	(4,332,221)
Home sales | Eliminating Entries
Homebuilding
Revenues	0	0	0	0
Homebuilding Cost of Revenues:
Cost of revenues	0	0	0	0
Home sales | PulteGroup, Inc.
Homebuilding
Revenues	0	0	0	0
Homebuilding Cost of Revenues:
Cost of revenues	0	0	0	0
Home sales | Guarantor Subsidiaries
Homebuilding
Revenues	2,535,930	2,032,391	6,852,430	5,554,349
Homebuilding Cost of Revenues:
Cost of revenues	(1,928,365)	(1,545,712)	(5,214,408)	(4,288,754)
Home sales | Non-Guarantor Subsidiaries
Homebuilding
Revenues	36,306	23,500	81,458	52,604
Homebuilding Cost of Revenues:
Cost of revenues	(25,795)	(18,893)	(61,824)	(43,467)
Land sale and other
Homebuilding
Revenues	25,510	28,215	104,971	39,848
Homebuilding Cost of Revenues:
Cost of revenues	(22,060)	(25,123)	(71,791)	(115,950)
Land sale and other | Eliminating Entries
Homebuilding
Revenues	0	0	0	0
Homebuilding Cost of Revenues:
Cost of revenues	0	0	0	0
Land sale and other | PulteGroup, Inc.
Homebuilding
Revenues	0	0	0	0
Homebuilding Cost of Revenues:
Cost of revenues	0	0	0	0
Land sale and other | Guarantor Subsidiaries
Homebuilding
Revenues	25,266	27,954	103,243	37,268
Homebuilding Cost of Revenues:
Cost of revenues	(22,060)	(24,896)	(70,774)	(113,899)
Land sale and other | Non-Guarantor Subsidiaries
Homebuilding
Revenues	244	261	1,728	2,580
Homebuilding Cost of Revenues:
Cost of revenues		(227)	(1,017)	(2,051)
Financial Services
Homebuilding
Revenues	51,620	46,952	150,322	135,995
Homebuilding Cost of Revenues:
Cost of revenues	(32,213)	(29,304)	(96,650)	(86,150)
Financial Services | Eliminating Entries
Homebuilding
Revenues	0	0	0	0
Homebuilding Cost of Revenues:
Cost of revenues	0	0	0	0
Financial Services | PulteGroup, Inc.
Homebuilding
Revenues	0	0	0	0
Homebuilding Cost of Revenues:
Cost of revenues	0	0	0	0
Financial Services | Guarantor Subsidiaries
Homebuilding
Revenues	0	0	0	0
Homebuilding Cost of Revenues:
Cost of revenues	(130)	(121)	405	384
Financial Services | Non-Guarantor Subsidiaries
Homebuilding
Revenues	51,620	46,952	150,322	135,995
Homebuilding Cost of Revenues:
Cost of revenues	$ (32,083)	$ (29,183)	$ 96,245	$ 85,766

Supplemental Guarantor Inform_5

Supplemental Guarantor Information (Statement Of Cash Flows) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Net cash provided by (used in) operating activities	$ 1,014,980	$ 252,479
Cash flows from investing activities:
Capital expenditures	(46,529)	(23,548)
Investments in unconsolidated entities	(1,000)	(22,007)
Other investing activities, net	15,545	5,788
Net cash provided by (used in) investing activities	(31,984)	(39,767)
Cash flows from financing activities:
Financial Services borrowings (repayments)	(187,071)	(85,797)
Repayments of debt	(82,655)	(7,001)
Borrowings under revolving credit facility	1,566,000	971,000
Repayments under revolving credit facility	(1,566,000)	(888,000)
Debt issuance costs	(8,165)	0
Stock option exercises	5,462	22,765
Share repurchases	(179,439)	(665,812)
Dividends paid	(78,284)	(86,018)
Intercompany activities, net	0	0
Net cash provided by (used in) financing activities	(530,152)	(738,863)
Net increase (decrease) in cash, cash equivalents, and restricted cash	452,844	(526,151)
Cash, cash equivalents, and restricted cash at beginning of period	306,168	723,248
Cash, cash equivalents, and restricted cash at end of period	759,012	197,097
Eliminating Entries
Net cash provided by (used in) operating activities	0	0
Cash flows from investing activities:
Capital expenditures	0	0
Investments in unconsolidated entities	0	0
Other investing activities, net	0	0
Net cash provided by (used in) investing activities	0	0
Cash flows from financing activities:
Financial Services borrowings (repayments)	0	0
Repayments of debt	0	0
Borrowings under revolving credit facility	0	0
Repayments under revolving credit facility	0	0
Debt issuance costs	0
Stock option exercises	0	0
Share repurchases	0	0
Dividends paid	0	0
Intercompany activities, net	0	0
Net cash provided by (used in) financing activities	0	0
Net increase (decrease) in cash, cash equivalents, and restricted cash	0	0
Cash, cash equivalents, and restricted cash at beginning of period	0	0
Cash, cash equivalents, and restricted cash at end of period	0	0
PulteGroup, Inc.
Net cash provided by (used in) operating activities	347,335	58,575
Cash flows from investing activities:
Capital expenditures	0	0
Investments in unconsolidated entities	0	0
Other investing activities, net		0
Net cash provided by (used in) investing activities	0	0
Cash flows from financing activities:
Financial Services borrowings (repayments)		0
Repayments of debt	0	0
Borrowings under revolving credit facility	1,566,000	971,000
Repayments under revolving credit facility	(1,566,000)	(888,000)
Debt issuance costs	(8,165)
Stock option exercises	5,462	22,765
Share repurchases	(179,439)	(665,812)
Dividends paid	(78,284)	(86,018)
Intercompany activities, net	(86,909)	587,490
Net cash provided by (used in) financing activities	(347,335)	(58,575)
Net increase (decrease) in cash, cash equivalents, and restricted cash	0	0
Cash, cash equivalents, and restricted cash at beginning of period	0	0
Cash, cash equivalents, and restricted cash at end of period	0	0
Guarantor Subsidiaries
Net cash provided by (used in) operating activities	389,110	43,042
Cash flows from investing activities:
Capital expenditures	(40,483)	(19,693)
Investments in unconsolidated entities	(1,000)	(22,007)
Other investing activities, net	11,299	5,728
Net cash provided by (used in) investing activities	(30,184)	(35,972)
Cash flows from financing activities:
Financial Services borrowings (repayments)	0	0
Repayments of debt	(81,757)	(6,031)
Borrowings under revolving credit facility	0	0
Repayments under revolving credit facility	0	0
Debt issuance costs	0
Stock option exercises	0	0
Share repurchases	0	0
Dividends paid	0	0
Intercompany activities, net	268,297	(470,052)
Net cash provided by (used in) financing activities	186,540	(476,083)
Net increase (decrease) in cash, cash equivalents, and restricted cash	545,466	(469,013)
Cash, cash equivalents, and restricted cash at beginning of period	157,801	611,185
Cash, cash equivalents, and restricted cash at end of period	703,267	142,172
Non-Guarantor Subsidiaries
Net cash provided by (used in) operating activities	278,535	150,862
Cash flows from investing activities:
Capital expenditures	(6,046)	(3,855)
Investments in unconsolidated entities	0	0
Other investing activities, net	4,246	60
Net cash provided by (used in) investing activities	(1,800)	(3,795)
Cash flows from financing activities:
Financial Services borrowings (repayments)	(187,071)	(85,797)
Repayments of debt	(898)	(970)
Borrowings under revolving credit facility	0	0
Repayments under revolving credit facility	0	0
Debt issuance costs	0
Stock option exercises	0	0
Share repurchases	0	0
Dividends paid	0	0
Intercompany activities, net	(181,388)	(117,438)
Net cash provided by (used in) financing activities	(369,357)	(204,205)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(92,622)	(57,138)
Cash, cash equivalents, and restricted cash at beginning of period	148,367	112,063
Cash, cash equivalents, and restricted cash at end of period	$ 55,745	$ 54,925