CalAtlantic (CAA) 10-K 28 Feb 17 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 24, 2017	Jun. 30, 2016
Document Information [Line Items]
Entity Registrant Name	CalAtlantic Group, Inc.
Entity Central Index Key	878,560
Trading Symbol	caa
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)		114,472,916
Entity Public Float			$ 2,721,565,562
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Dec. 13, 2014	Dec. 31, 2016		Dec. 31, 2015
Homebuilding:
Home sale revenues	$ 2,366,754	$ 6,354,869		$ 3,449,047
Land sale revenues	44,424	33,171		47,364
Total revenues	2,411,178	6,388,040		3,496,411
Cost of home sales	(1,748,954)	(4,967,278)		(2,676,666)
Cost of land sales	(43,841)	(30,132)		(43,274)
Total cost of sales	(1,792,795)	(4,997,410)		(2,719,940)
Gross margin	618,383	1,390,630	[1]	776,471	[1]
Selling, general and administrative expenses	(275,861)	(664,459)		(390,710)
Income (loss) from unconsolidated joint ventures	(668)	4,057		1,966
Other income (expense)	(1,733)	(16,726)		(62,177)
Homebuilding pretax income	340,121	713,502		325,550
Financial Services:
Revenues	25,320	88,695		43,702
Expenses	(15,477)	(49,081)		(26,763)
Financial services pretax income	9,843	39,614		16,939
Income before taxes	349,964	753,116		342,489
Provision for income taxes	(134,099)	(268,386)		(128,980)
Net income	215,865	484,730	[1]	213,509	[1]
Less: Net income allocated to preferred shareholder	(51,650)			(32,997)
Less: Net income allocated to unvested restricted stock	(297)	(1,168)		(369)
Net income available to common stockholders	$ 163,918	$ 483,562		$ 180,143
Income per common share:
Basic (in dollars per share)	$ 2.94	$ 4.09	[1]	$ 2.51	[1]
Diluted (in dollars per share)	$ 2.68	$ 3.60	[1]	$ 2.26	[1]
Weighted average common shares outstanding:
Basic (in shares)	55,737,548	118,212,740		71,713,747
Diluted (in shares)	63,257,082	135,984,985		81,512,953
Weighted average additional common shares outstanding if preferred shares converted to common shares (in shares)	17,562,557			13,135,814
Total weighted average diluted common shares outstanding if preferred shares converted to common shares (in shares)	80,819,639	135,984,985		94,648,767
[1]	Per share amounts do not add across due to rounding differences in quarterly amounts and due to the impact of differences between the quarterly and annual weighted average share calculations.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Net income	$ 484,730	[1]	$ 213,509	[1]	$ 215,865
Other comprehensive income, net of tax:
Unrealized gain (loss) on marketable securites, available for sale	(177)		5
Total comprehensive income	$ 484,553		$ 213,514		$ 215,865
[1]	Per share amounts do not add across due to rounding differences in quarterly amounts and due to the impact of differences between the quarterly and annual weighted average share calculations.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Cash and equivalents at end of year	$ 208,127	$ 186,594
Inventories:
Owned	6,438,792	6,069,959
Investments in unconsolidated joint ventures	127,127	132,763
Deferred income taxes, net of valuation allowance of $2,456 and $1,156 at December 31, 2016 and 2015, respectively	330,378	396,194
Total assets	8,709,044	8,429,402
Cash and equivalents at end of year	208,127	186,594
LIABILITIES AND EQUITY
Total liabilities	4,501,458	4,567,966
Stockholders' Equity:
Preferred stock, $0.01 par value; 10,000,000 shares authorized; no shares issued and outstanding at December 31, 2016 and 2015
Common stock, $0.01 par value; 600,000,000 shares authorized; 114,429,297 and 121,286,153 shares issued and outstanding at December 31, 2016 and 2015, respectively	1,144	1,213
Additional paid-in capital	3,204,835	3,324,328
Accumulated earnings	1,001,779	535,890
Accumulated other comprehensive income (loss), net of tax	(172)	5
Total Equity	4,207,586	3,861,436
Total Liabilities and Equity	8,709,044	8,429,402
Homebuilding [Member]
Cash and equivalents at end of year	191,086	151,076
Restricted cash	28,321	35,990
Inventories:
Owned	6,438,792	6,069,959
Not owned	66,267	83,246
Investments in unconsolidated joint ventures	127,127	132,763
Deferred income taxes, net of valuation allowance of $2,456 and $1,156 at December 31, 2016 and 2015, respectively	330,378	396,194
Goodwill	970,185	933,360
Other assets	204,489	202,665
Total assets	8,356,645	8,005,253
Cash and equivalents at end of year	191,086	151,076
Restricted cash	28,321	35,990
LIABILITIES AND EQUITY
Accounts payable	211,780	191,681
Accrued liabilities	599,905	562,690
Secured project debt and other notes payable	27,579	25,683
Senior Notes	3,392,208	3,462,016
Total liabilities	4,231,472	4,242,070
Financial Services [Member]
Cash and equivalents at end of year	17,041	35,518
Restricted cash	21,710	22,914
Inventories:
Other assets	26,666	17,243
Total assets	352,399	424,149
Cash and equivalents at end of year	17,041	35,518
Restricted cash	21,710	22,914
Mortgage loans held for sale, net	262,058	325,770
Mortgage loans held for investment, net	24,924	22,704
LIABILITIES AND EQUITY
Total liabilities	269,986	325,896
Accounts payable and other liabilities	22,559	22,474
Mortgage credit facilities	$ 247,427	$ 303,422

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred income taxes, valuation allowance	$ 2,456	$ 1,156
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares issued (in shares)	114,429,297	121,286,153
Common stock, shares outstanding (in shares)	114,429,297	121,286,153
Homebuilding [Member]
Deferred income taxes, valuation allowance	$ 2,456	$ 1,156

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	1.625% Convertible Senior Notes due May 2018 [Member]Additional Paid-in Capital [Member]	1.625% Convertible Senior Notes due May 2018 [Member]	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2013			53,565	55,523,636
Balance at Dec. 31, 2013			$ 1	$ 555	$ 1,357,037	$ 111,367	$ 0	$ 1,468,960
Net income						215,865		215,865
Stock issuances under employee plans, including income tax benefits (in shares)				512,602
Stock issuances under employee plans, including income tax benefits				$ 5	20,170			20,175
Repurchase and retirement of common stock, net of expenses (in shares)				(1,008,000)
Repurchase and retirement of common stock, net of expenses				$ (10)	(36,771)			(36,781)
Amortization of stock-based compensation					8,469			8,469
Balance (in shares) at Dec. 31, 2014			53,565	55,028,238
Balance at Dec. 31, 2014			$ 1	$ 550	1,348,905	327,232	0	1,676,688
Net income						213,509		213,509	[1]
Stock issuances under employee plans, including income tax benefits (in shares)				1,350,984
Stock issuances under employee plans, including income tax benefits				$ 13	10,237			10,250
Repurchase and retirement of common stock, net of expenses (in shares)				(645,338)
Repurchase and retirement of common stock, net of expenses				$ (6)	(22,067)			(22,073)
Amortization of stock-based compensation					15,624			15,624
Balance (in shares) at Dec. 31, 2015				121,286,153
Balance at Dec. 31, 2015			$ 0	$ 1,213	3,324,328	535,890	5	3,861,436
Other comprehensive income, net of tax							5	5
Common stock dividends ($0.04 per share)						(4,851)		(4,851)
Stock issuance in connection with merger, net of preferred stock conversion (in shares)			(53,565)	65,552,269
Stock issuance in connection with merger, net of preferred stock conversion			$ (1)	$ 656	1,971,629			1,972,284
Net income						484,730		484,730	[1]
Stock issuances under employee plans, including income tax benefits (in shares)				396,489
Stock issuances under employee plans, including income tax benefits				$ 4	1,326			1,330
Repurchase and retirement of common stock, net of expenses (in shares)				(7,253,345)
Repurchase and retirement of common stock, net of expenses				$ (73)	(232,447)			(232,520)
Amortization of stock-based compensation					17,794			17,794
Balance (in shares) at Dec. 31, 2016				114,429,297
Balance at Dec. 31, 2016			$ 0	$ 1,144	$ 3,204,835	1,001,779	(172)	4,207,586
Other comprehensive income, net of tax							$ (177)	(177)
Common stock dividends ($0.04 per share)						$ (18,841)		$ (18,841)
1.625% convertible note conversion feature purchase accounting adjustment	$ 93,834	$ 93,834
[1]	Per share amounts do not add across due to rounding differences in quarterly amounts and due to the impact of differences between the quarterly and annual weighted average share calculations.

Consolidated Statements of Sto7

Consolidated Statements of Stockholders' Equity (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Retained Earnings [Member]
Common stock dividends per share (in dollars per share)	$ 0.16	$ 0.04
1.625% Convertible Senior Notes due May 2018 [Member]
Debt Instrument, Interest Rate	1.625%

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Cash Flows From Operating Activities:
Net income	$ 484,730	[1]	$ 213,509	[1]	$ 215,865
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
(Income) loss from unconsolidated joint ventures	(4,057)		(1,966)		668
Depreciation and amortization	61,704		41,151		27,347
Amortization of stock-based compensation	17,794		15,624		8,469
Excess tax (benefit) provision from share-based payment arrangements	460		(9,250)		(13,404)
Deferred income tax provision	(5,097)		38,636		98,998
Other operating activities	418		2,869		1,886
Changes in cash and equivalents due to:
Mortgage loans held for sale	63,649		(42,871)		(52,838)
Inventories - owned	(306,896)		(497,836)		(664,427)
Inventories - not owned	(37,728)		34,770		(33,027)
Other assets	5,697		(2,998)		4,529
Accounts payable	20,099		(89,461)		9,314
Accrued liabilities	21,541		26,462		34,223
Net cash provided by (used in) operating activities	322,314		(271,361)		(362,397)
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures	(29,118)		(91,453)		(10,506)
Distributions of capital from unconsolidated homebuilding joint ventures	39,735		19,582		18,010
Cash acquired in connection with merger			268,517
Net cash paid for acquisitions					(33,770)
Other investing activities	(7,688)		(11,972)		(4,754)
Net cash provided by (used in) investing activities	2,929		184,674		(31,020)
Cash Flows From Financing Activities:
Change in restricted cash	8,873		652		(16,762)
Borrowing from revolving credit facility	1,433,200		852,700
Principal payments on revolving credit facility	(1,433,200)		(852,700)
Principal payments on secured project debt and other notes payable	(23,228)		(2,532)		(1,458)
Principal payments on senior notes payable	(280,000)		(29,789)		(4,971)
Proceeds from the issuance of senior notes payable	300,000				300,000
Payment of debt issuance costs	(2,669)		(1,016)		(6,230)
Net proceeds from (payments on) mortgage credit facilities	(55,995)		110,469		(11,454)
Repurchases of common stock	(232,520)		(22,073)		(36,781)
Common stock dividend payments	(18,841)		(4,851)
Issuance of common stock under employee stock plans, net of withholdings	1,330		1,000		6,771
Excess tax benefit (provision) from share-based payment arrangements	(460)		9,250		13,404
Other financing activities	(200)		(222)
Net cash provided by (used in) by financing activities	(303,710)		60,888		242,519
Net increase (decrease) in cash and equivalents	21,533		(25,799)		(150,898)
Cash and equivalents at beginning of year	186,594		212,393		363,291
Cash and equivalents at end of year	208,127		186,594		212,393
Cash and equivalents at end of year	$ 186,594		$ 186,594		$ 212,393
[1]	Per share amounts do not add across due to rounding differences in quarterly amounts and due to the impact of differences between the quarterly and annual weighted average share calculations.

Note 1 - Company Organization a

Note 1 - Company Organization and Operations	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Nature of Operations [Text Block]	1. Effective October 1, 2015, June 14, 2015, We are a geographically diversified builder of single-family attached and detached homes. We also provide mortgage, title and escrow services, and are focused on providing an exceptional end-to-end homebuying experience for our customers. Unless the context otherwise requires, the terms "we," "us," "our" and "the Company" refer to CalAtlantic Group, Inc. and its subsidiaries. The percentages of our homes delivered by reportable segment for the years ended December 31, 2016, 2015 2014 Year Ended December 31, Region 2016 2015 2014 (Unaudited) North 21 % 11 % n/a % Southeast 28 34 38 Southwest 28 26 21 West 23 29 41 Total 100 % 100 % 100 %

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. a. Basis of Presentation The consolidated financial statements include the accounts of CalAtlantic Group, Inc. and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Certain reclassifications have been made to prior year amounts to conform to the current year presentation. b. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. c. Segment Reporting Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting 280") 280, four four d. Variable Interest Entities We account for variable interest entities in accordance with ASC Topic 810, Consolidation 810"). 810, 810, 810, e. Limited Partnerships and Limited Liability Companies We analyze our homebuilding and land development joint ventures under the provisions of ASC 810 810, (1) (2) 810, may f. Revenue Recognition In accordance with ASC Topic 360 20, Property, Plant, and Equipment – Real Estate Sales 360 20"), 360 20, third In accordance with ASC Topic 825, Financial Instruments 825"), 30 45 g. Cost of Sales Homebuilding cost of sales is recognized in the period when the related homebuilding revenues are recognized. Cost of sales is recorded based upon total estimated costs to be allocated to each home within a community. Certain direct construction costs are specifically identified and allocated to homes while other common costs, such as land, land improvements and carrying costs, are allocated to homes within a community based upon their anticipated relative sales or fair value. Any changes to the estimated costs are allocated to the remaining undelivered lots and homes within their respective community. The estimation of these costs requires a substantial degree of judgment by management. h. Warranty Costs Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related homebuilding revenues are recognized. Amounts accrued are based upon historical experience. Indirect warranty overhead salaries and related costs are charged to cost of sales in the period incurred. We assess the adequacy of our warranty accrual on a quarterly basis and adjust the amounts recorded if necessary. During the years ended December 31, 2016, 2015 2014, Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Warranty accrual, beginning of the year $ 40,691 $ 13,584 $ 13,811 Warranty accrual assumed with merger ― 25,528 ― Warranty costs accrued during the year 24,092 13,803 7,550 Warranty costs paid during the year (20,851 ) (12,224 ) (7,777 ) Warranty accrual, end of the year $ 43,932 $ 40,691 $ 13,584 i. Earnings Per Common Share We compute earnings per share in accordance with ASC Topic 260, Earnings per Share 260"), two two two two Basic earnings per common share is computed by dividing income or loss available to common stockholders by the weighted average number of shares of basic common stock outstanding. Our Series B junior participating convertible preferred stock ("Series B Preferred Stock"), which was convertible into shares of our common stock at the holder’s option, and our unvested restricted stock, are classified as participating securities in accordance with ASC 260. For purposes of determining diluted earnings per common share, basic earnings per common share is further adjusted to include the effect of potential dilutive common shares outstanding, including stock options, stock appreciation rights, performance share awards and unvested restricted stock using the more dilutive of either the two two two Year Ended December 31, 2016 2015 2014 (Dollars in thousands, except per share amounts) Numerator: Net income $ 484,730 $ 213,509 $ 215,865 Less: Net income allocated to preferred shareholder ― (32,997 ) (51,650 ) Less: Net income allocated to unvested restricted stock (1,168 ) (369 ) (297 ) Net income available to common stockholders for basic earnings per common share 483,562 180,143 163,918 Effect of dilutive securities: Net income allocated to preferred shareholder ― 32,997 51,650 Interest on 1.625% convertible senior notes due 2018 2,059 47 n/a Interest on 0.25% convertible senior notes due 2019 1,862 9 n/a Interest on 1.25% convertible senior notes due 2032 1,407 898 899 Net income available to common and preferred stock for diluted earnings per share $ 488,890 $ 214,094 $ 216,467 Denominator: Weighted average basic common shares outstanding 118,212,740 71,713,747 55,737,548 Weighted average additional common shares outstanding if preferred shares converted to common shares (if dilutive) ― 13,135,814 17,562,557 Total weighted average common shares outstanding if preferred shares converted to common shares 118,212,740 84,849,561 73,300,105 Effect of dilutive securities: Share-based awards 666,928 816,459 1,256,964 1.625% convertible senior notes due 2018 7,167,960 1,804,192 n/a 0.25% convertible senior notes due 2019 3,639,150 915,985 n/a 1.25% convertible senior notes due 2032 6,298,207 6,262,570 6,262,570 Weighted average diluted shares outstanding 135,984,985 94,648,767 80,819,639 Income per share: Basic $ 4.09 $ 2.51 $ 2.94 Diluted $ 3.60 $ 2.26 $ 2.68 j. Stock-Based Compensation We account for share-based awards in accordance with ASC Topic 718, Compensation – Stock Compensation 718"). 718 718 k. Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) consists of unrealized gains or losses on available-for-sale marketable securities, as reported within the accompanying consolidated statements of stockholders' equity and consolidated statements of comprehensive income. At December 31, 2016, $523,000 $695,000. 2.u. l. Cash and Equivalents and Restricted Cash Cash and equivalents include cash on hand, demand deposits and all highly liquid short-term investments, including interest-bearing securities purchased with a maturity of three December 31, 2016, $150.3 five At December 31, 2016, $28.3 December 31, 2016 $17.7 $3.0 $1.0 third m. Mortgage Loans Held for Sale In accordance with ASC 825, sell substantially all of the loans we originate in the secondary n. Mortgage Loans Held for Investment Certain mortgage loans are classified as held for investment based on our intent and ability to hold the loans for the foreseeable future or to maturity. Mortgage loans held for investment are recorded at their unpaid principal balance, net of discounts and premiums, unamortized net deferred loan origination costs and fees and allowance for loan losses. Discounts, premiums, and net deferred loan origination costs and fees are amortized into income over the contractual life of the loan. Mortgage loans held for investment are continually evaluated for collectability and, if appropriate, specific allowances are established based on estimates of collateral value. Loans are placed on non-accrual status for first 90 second 30 $1.6 December 31, 2016 2015. o. Inventories Inventories consist of land, land under development, homes under construction, completed homes and model homes and are stated at cost, net of any impairment charges. We capitalize direct carrying costs, including interest, property taxes and related development costs to inventories. Field construction supervision and related direct overhead are also included in the capitalized cost of inventories. Direct construction costs are specifically identified and allocated to homes while other common costs, such as land, land improvements and carrying costs, are allocated to homes within a community based upon their anticipated relative sales or fair value. We assess the recoverability of real estate inventories in accordance with the provisions of ASC Topic 360, Property, Plant, and Equipment 360"). 360 360 p. Capitalization of Interest We follow the practice of capitalizing interest to inventories owned during the period of development and to investments in unconsolidated homebuilding and land development joint ventures in accordance with ASC Topic 835, 835"). third 835, December 31, 2016, 2015 2014, 2016, 2015 2014 835. December 31, 2016, 2015 2014: Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Total interest incurred $ 233,225 $ 171,509 $ 153,695 Less: Interest capitalized to inventories owned (229,200 ) (169,233 ) (151,962 ) Less: Interest capitalized to investments in unconsolidated joint ventures (4,025 ) (2,276 ) (1,733 ) Interest expense $ ― $ ― $ ― Interest previously capitalized to inventories owned, included in home cost of home sales $ 170,105 $ 131,611 $ 119,422 Interest previously capitalized to inventories owned, included in land cost of land sales $ 1,596 $ 7,770 $ 3,690 Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures $ 861 $ ― $ 30 Interest capitalized in ending inventories owned (1) $ 365,701 $ 305,459 $ 275,607 Interest capitalized as a percentage of inventories owned 5.7 % 5.0 % 8.5 % Interest capitalized in ending investments in unconsolidated joint ventures (1) $ 3,362 $ 2,941 $ 665 Interest capitalized as a percentage of investments in unconsolidated joint ventures 2.6 % 2.2 % 1.3 % (1) During the years ended December 31, 2016, 2015 2014, $2.7 $0 $6.0 q. Investments in Unconsolidated Land Development and Homebuilding Joint Ventures Investments in our unconsolidated land development and homebuilding joint ventures are accounted for under the equity method of accounting. Under the equity method, we recognize our proportionate share of earnings and losses generated by the joint venture upon the delivery of lots or homes to third third 50 We review inventory projects within our unconsolidated joint ventures for impairments consistent with our real estate inventories described in Note 2.o. r. Goodwill In accordance with ASC Topic 350, Intangibles, Goodwill and Other 350"), two 350 may (1) (2) (3) (4) two 350 may 2016, 3 s. Income Taxes We account for income taxes in accordance with ASC Topic 740, Income Taxes 740"). 740 We evaluate our deferred tax assets on a quarterly basis to determine whether a valuation allowance is required. In accordance with ASC 740, ASC 740 50%), t. Insurance and Litigation Accruals Insurance and litigation accruals are established with respect to estimated future claims cost. We maintain general liability insurance designed to protect us against a portion of our risk of loss from construction-related claims. We also generally require our subcontractors and design professionals to indemnify us for liabilities arising from their work, subject to various limitations. However, such indemnity is significantly limited with respect to certain subcontractors that are added to our general liability insurance policy. We record allowances to cover the estimated costs of our self-insurance liability based on an analysis performed by an independent third December 31, 2016, December 31, 2016, December 31, 2015 $83.9 December 31, 2016 2015 $233.5 $209.2 u. Derivative Instruments and Hedging Activities We account for derivatives and certain hedging activities in accordance with ASC Topic 815, Derivatives and Hedging 815"). 815 Our policy is to designate at a derivative’s inception the specific assets, liabilities or future commitments being hedged and monitor the derivative to determine if the derivative remains an effective hedge. The effectiveness of a derivative as a hedge is based on a high correlation between changes in the derivative’s value and changes in the value of the underlying hedged item. We recognize gains or losses for amounts received or paid when the underlying transaction settles. We do not enter into or hold derivatives for trading or speculative purposes. v. Accounting for Guarantees We account for guarantees in accordance with the provisions of ASC Topic 460, Guarantees 460"). 460, 460 third December 31, 2016, w. Recent Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09"), 2014 09, August 2015, 2015 14, Revenue from Contracts with Customers (Topic 606): 2014 09 one 2014 09 December 15, 2017, 2014 09 2014 09 may In June 2014, 2014 12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period 2014 12"), 718, Compensation — Stock Compensation 2014 12 January 1, 2016 In August 2014, 2014 15, Disclosure of Uncertainties About an Entity's Ability to Continue as a Going Concern 2014 15"), one 2014 15 December 15, 2016, 2014 15 In February 2015, 2015 02, Amendments to the Consolidation Analysis 2015 02"), 2015 02 January 1, 2016 In September 2015, 2015 16, Simplifying the Accounting for Measurement-Period Adjustments 2015 16"), 2015 16 January 1, 2016 In January 2016, 2016 01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities 2016 01"), 820, Fair Value Measurements may 2016 01 December 15, 2017. In March 2016, 2016 02, Leases 2016 02"), 2016 02 12 2016 02 December 15, 2018. In March 2016, 2016 07, Investments- Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting 2016 07"), 2016 07 December 15, 2016. 2016 07 In March 2016, 2016 09, Compensation — Stock Compensation: Improvements to Employee Share-Based Payment Accounting 2016 09"), 2016 09 December 15, 2016. 2016 09 In August 2016, 2016 15, Statement of Cash Flows (Topic 230): 2016 15"). 2016 15 2016 15 December 15, 2017, In November 2016, 2016 18, Statement of Cash Flows (Topic 230): 2016 18”). 2016 18 2016 18 annual periods and interim periods within those annual periods beginning after December 15, 2017, We are currently evaluating the impact adoption will have on our financial statements. In January 2017, 2017 01, Business Combinations: Clarifying the Definition of a Business 2017 01”). 2017 01 ASU 2017 01 December 15, 2017, In January 2017, 2017 04, Intangibles - Goodwill and Other (Topic 350): counting for Goodwill Impairment 2017 04"). 2017 04 2017 04 annual periods and interim periods within those annual periods beginning after December 15, 2019, We are currently evaluating the impact adoption will have on our financial statements.

Note 3 - Business Acquisition

Note 3 - Business Acquisition	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Business Combination Disclosure [Text Block]	3. Effective October 1, 2015, five one 1.0191 The following table summarizes the components of common stock outstanding immediately following the Merger as of October 1, 2015: As of Split/Exchange As Adjusted October 1, 2015 Ratio October 1, 2015 Common Stock - Standard Pacific 277,220,324 5 55,444,065 Common Stock - Ryland 46,856,558 1.0191 47,751,518 Accelerated Vesting of Ryland Equity Awards 234,751 1.0191 239,235 Preferred Stock - Standard Pacific 87,812,786 5 17,562,557 Fractional Shares Paid Out ― (1,041 ) Total 412,124,419 120,996,334 Based on an evaluation of the provisions of ASC Topic 805, Business Combinations 805") 805, $2.0 1.0191 $40.46 $30.6 Number of shares of CalAtlantic common stock issued to Ryland shareholders 47,989,812 Opening price per share of CalAtlantic common stock $ 40.46 Consideration attributable to common stock 1,941,668 Consideration attributable to CalAtlantic equity awards in exchange for Ryland equity awards 30,616 Total purchase price $ 1,972,284 The total purchase price was allocated to Ryland's assets and liabilities based upon fair values as determined by the Company, as follows (in thousands): Cash and cash equivalents $ 268,517 Inventories 2,404,765 Investments in unconsolidated joint ventures 13,821 Deferred income taxes 120,615 Homebuilding other assets 77,124 Financial services assets, excluding cash 144,889 Goodwill 970,185 Total assets 3,999,916 Accounts payable and accrued liabilities (495,425 ) Secured project debt and other notes payables (22,213 ) Senior notes payable (1,291,541 ) Financial services liabilities (124,619 ) Additional paid-in capital (93,834 ) Total purchase price $ 1,972,284 During 2016, 1.625% $93.8 December 31, 2016. $35.9 $970.2 . Goodwill has been allocated to the Company’s four 350. 10 third Ryland's 2015 $772.3 $1.8 October 1, 2015 December 31, 2015. The following presents summarized unaudited supplemental pro forma operating results as if Ryland had been included in the Company's consolidated statements of operations as of the beginning of the fiscal years presented. Year Ended December 31, 2015 2014 (Dollars in thousands, except per share amounts) Home sale revenues $ 5,280,297 $ 4,922,721 Net income $ 321,239 $ 387,123 Income per share: Basic $ 2.65 $ 3.19 Diluted $ 2.32 $ 2.80 The supplemental pro forma operating results have been determined after adjusting the operating results of Ryland to reflect additional amortization that would have been recorded assuming the fair value adjustment to intangible assets had been applied beginning January 1, 2014. Acquisition and integration expenses related to the Merger comprised of the following: Year Ended December 31, 2016 2015 (Dollars in thousands) Severance and personnel costs $ 2,444 $ 38,970 Professional service, real estate related, and other expenses 13,586 13,066 Total $ 16,030 $ 52,036 The acquisition and integration costs are expensed as incurred and are presented in other homebuilding income (expense) within the accompanying consolidated statements of operations.

Note 4 - Segment Reporting

Note 4 - Segment Reporting	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	4. We operate two Our homebuilding operations acquire and develop land and construct and sell single-family attached and detached homes. In connection with the merger with Ryland, the Company experienced key personnel changes and significant growth in its operations, and as a result, the Company began to develop processes and reporting packages to manage and assess the Company’s performance at a regional level. In light of the key personnel changes, growth in operations, and the focus on regional information provided to the Company’s chief operating decision maker, during 2016, 280 four 280, four four Our mortgage financing operation provides mortgage financing to many of our homebuyers in substantially all of the markets in which we operate, and sells substantially all of the loans it originates in the secondary Corporate is a non-operating segment that develops and implements strategic initiatives and supports our operating segments by centralizing key administrative functions such as accounting, finance and treasury, information technology, insurance and risk management, litigation, marketing and human resources. Corporate also provides the necessary administrative functions to support us as a publicly traded company. All of the expenses incurred by Corporate are allocated to each of our four Segment financial information relating to the Company’s homebuilding operations was as follows: Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Homebuilding revenues: North $ 1,017,063 $ 262,988 $ n/a Southeast 1,559,345 988,773 672,776 Southwest 1,659,477 889,496 495,008 West 2,152,155 1,355,154 1,243,394 Total homebuilding revenues $ 6,388,040 $ 3,496,411 $ 2,411,178 Homebuilding pretax income (1): North $ 80,498 $ 5,556 $ n/a Southeast 130,656 69,726 66,232 Southwest 165,694 70,851 48,958 West 336,654 179,417 224,931 Total homebuilding pretax income $ 713,502 $ 325,550 $ 340,121 Homebuilding income (loss) from unconsolidated joint ventures: North $ 588 $ 78 $ n/a Southeast 435 219 119 Southwest 1,019 159 28 West 2,015 1,510 (815 ) Total homebuilding income (loss) from unconsolidated joint ventures $ 4,057 $ 1,966 $ (668 ) (1) Homebuilding pretax income includes depreciation and amortization expense of $6.5 $16.0 $12.1 $27.0 December 31, 2016; $1.5 $10.1 $6.6 $22.8 December 31, 2015; $0 $6.5 $4.0 $16.7 December 31, 2014. Segment financial information relating to the Company’s homebuilding assets was as follows: December 31, 2016 2015 (Dollars in thousands) Homebuilding assets: North $ 1,181,544 $ 732,689 Southeast 2,253,289 1,766,241 Southwest 1,842,869 1,470,654 West 2,500,163 2,357,597 Corporate (1) 578,780 1,678,072 Total homebuilding assets $ 8,356,645 $ 8,005,253 Homebuilding investments in unconsolidated joint ventures: North $ 5,691 $ 5,634 Southeast 334 313 Southwest 6,085 5,594 West 115,017 121,222 Total homebuilding investments in unconsolidated joint ventures $ 127,127 $ 132,763 (1) The assets in our Corporate Segment include cash and cash equivalents and our deferred tax asset, and at December 31, 2015 $0.9 2016 second December 31, 2016, $0.3 $0.1

Note 5 - Marketable Securities,

Note 5 - Marketable Securities, Available-for-sale	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Cash, Cash Equivalents, and Marketable Securities [Text Block]	5. The Company’s investment portfolio includes mainly municipal debt securities and metropolitan district bond securities, which are included in homebuilding other assets in the accompanying consolidated balance sheets. As defined in ASC Topic 320, Investments—Debt and Equity Securities 320"), The Company periodically reviews its available-for-sale securities for other-than-temporary declines in fair values that are below their cost bases, as well as whenever events or changes in circumstances indicate that the carrying amount of an asset may December 31, 2016, For the year ended December 31, 2016, $695,000. 2.k. The primary objectives of the Company’s investment portfolio are safety of principal and liquidity. Investments are made with the purpose of achieving the highest rate of return consistent with these two The following table displays the fair values of marketable securities, available-for-sale, by type of security: December 31, 2016 December 31, 2015 Amortized Cost Gross Unrealized Losses Estimated Fair Value Amortized Cost Gross Unrealized Gains Estimated Fair Value (Dollars in thousands) Type of security: Municipal bond and metropolitan district securities $ 18,563 $ (465 ) $ 18,098 $ 19,439 $ 5 $ 19,444 The following table displays the fair values of marketable securities, available-for-sale, by contractual maturity: December 31, 2016 (Dollars in thousands) Contractual maturity: Maturing in one year or less $ ― Maturing after three years 18,098 Total marketable securities, available-for-sale $ 18,098

Note 6 - Inventories

Note 6 - Inventories	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	6. a. Inventories Owned Inventories owned consisted of the following at: December 31, 2016 North Southeast Southwest West Total (Dollars in thousands) Land and land under development (1) $ 445,245 $ 1,177,646 $ 594,585 $ 1,410,264 $ 3,627,740 Homes completed and under construction 327,421 585,938 710,509 680,241 2,304,109 Model homes 79,306 132,968 116,575 178,094 506,943 Total inventories owned $ 851,972 $ 1,896,552 $ 1,421,669 $ 2,268,599 $ 6,438,792 December 31, 2015 North Southeast Southwest West Total (Dollars in thousands) Land and land under development (1) $ 370,584 $ 1,169,350 $ 687,792 $ 1,318,563 $ 3,546,289 Homes completed and under construction 266,967 464,668 599,183 708,779 2,039,597 Model homes 66,100 119,283 113,549 185,141 484,073 Total inventories owned $ 703,651 $ 1,753,301 $ 1,400,524 $ 2,212,483 $ 6,069,959 (1) During the year ended December 31, 2016, $960.8 (13,566 25% 25% 24% 26% December 31, 2015, $515.3 (6,631 40,245 2015, 12% 39% 18% 31% Disclosures of homesite count, including the percentage of homesites located within a specific region, included in these notes to consolidated financial statements are presented on an unaudited basis. In accordance with ASC 360, may December 31, 2016, 2015 2014, 797, 903 368, December 31, 2016, 2015 2014, not During the 2014 second 10 805. $31.5 $4.9 $1.2 $4.2 $0.3 b. Inventories Not Owned Inventories not owned as of December 31, 2016 December 31, 2015 810, may may 810,

Note 7 - Investments in Unconso

Note 7 - Investments in Unconsolidated Land Development and Homebuilding Joint Ventures	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	7. The table set forth below summarizes the combined statements of operations for our unconsolidated land development and homebuilding joint ventures that we accounted for under the equity method: Year December 31, 2016 2015 2014 (Dollars in thousands) (Unaudited) Revenues $ 32,422 $ 43,806 $ 39,898 Cost of sales and expenses (3,173 ) (33,587 ) (47,519 ) Income (loss) of unconsolidated joint ventures $ 29,249 $ 10,219 $ (7,621 ) Income (loss) from unconsolidated joint ventures reflected in the accompanying consolidated statements of operations $ 4,057 $ 1,966 $ (668 ) Income (loss) from unconsolidated joint ventures reflected in the accompanying consolidated statements of operations represents our share of the income (loss) of our unconsolidated land development and homebuilding joint ventures, which is allocated based on the provisions of the underlying joint venture operating agreements less any additional impairments recorded against our investments in joint ventures which we do not deem recoverable. In addition, we defer recognition of our share of income that relates to lots purchased by us from land development joint ventures until we ultimately sell the homes to be constructed to third During the years ended December 31, 2016, 2015 2014, during the year ended December 31, 2016, $1.0 one No December 31, 2015 2014. The table set forth below summarizes the combined balance sheets for our unconsolidated land development and homebuilding joint ventures that we accounted for under the equity method: December 31, 2016 2015 (Dollars in thousands) (Unaudited) Assets: Cash $ 23,785 $ 34,893 Inventories 541,191 510,502 Other assets 26,292 14,540 Total assets $ 591,268 $ 559,935 Liabilities and Equity: Accounts payable and accrued liabilities $ 28,947 $ 26,571 Bank debt 31,007 33,704 CalAtlantic equity 140,387 130,750 Other members' equity 390,927 368,910 Total liabilities and equity $ 591,268 $ 559,935 Investments in unconsolidated joint ventures reflected in the accompanying consolidated balance sheets $ 127,127 $ 132,763 In some cases our net investment in these unconsolidated joint ventures is not equal to our proportionate share of equity reflected in the table above primarily because of differences between asset impairments that we recorded in prior periods against our joint venture investments and the impairments recorded by the applicable joint venture. Our investments in unconsolidated joint ventures also included approximately $3.4 $2.9 December 31, 2016 2015, Our investments in these unconsolidated joint ventures may 810 December 31, 2016, 810

Note 8 - Homebuilding Indebtedn

Note 8 - Homebuilding Indebtedness	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Long-term Debt [Text Block]	8. a. Letter of Credit Facilities As of December 31, 2016, $350 four $48 $26.7 January 2017 October 2017. December 31, 2016, $27.1 may As of the date of this filing, we are working with one January 2017 $15 $7.2 b. Senior Notes Payable Senior notes payable, consist of the following at: December 31, 2016 2015 (Dollars in thousands) 10.75% Senior Notes due September 2016 $ ― $ 275,845 8.4% Senior Notes due May 2017 235,175 248,975 8.375% Senior Notes due May 2018 574,501 574,058 1.625% Convertible Senior Notes due May 2018 220,236 301,754 0.25% Convertible Senior Notes due June 2019 253,777 248,098 6.625% Senior Notes due May 2020 319,909 325,882 8.375% Senior Notes due January 2021 395,246 394,152 6.25% Senior Notes due December 2021 297,623 297,148 5.375% Senior Notes due October 2022 249,230 249,096 5.875 % Senior Notes due November 2024 296,982 296,598 5.25 % Senior Notes due June 2026 297,483 ― 1.25% Convertible Senior Notes due August 2032 252,046 250,410 $ 3,392,208 $ 3,462,016 The carrying amount of the senior notes listed above are net of any discounts, premiums and debt issuance costs that are amortized to interest costs over the respective terms of the notes. The Company's 1.625% 2018 "1.625% 1.625% 1.625% May 15, 2018, may 1.625% 31.8576 $1,000 $31.39 may 1.625% The Company's 0.25% 2019 "0.25% 0.25% 0.25% June 1, 2019, may 0.25% 13.6043 $1,000 $73.51 may 0.25% June 6, 2017. may 0.25% 20 30 5 30 130 100 0.25% The Company's 1.25% 2032 "1.25% 1.25% 1.25% August 1, 2032, may 1.25% 24.8941 $1,000 $40.17 may 1.25% August 5, 2017. August 5, 2017 may 1.25% 100% 1.25% August 1, 2017, August 1, 2022 August 1, 2027, 1.25% may 1.25% 100% 1.25% Our senior notes payable are all senior obligations and rank equally with our other existing senior indebtedness and, with the exception of our Convertible Notes, are redeemable at our option, in whole or in part, pursuant to a "make whole" formula. These notes contain various restrictive covenants, including, but not limited to, a limitation on secured indebtedness and a restriction on sale leaseback transactions. As of December 31, 2016, Many of our 100% 18 During the 2016 second $300 5.25% 2026, $280 10.75% September 2016. c. Secured Project Debt and Other Notes Payable Our secured project debt and other notes payable consist of seller non-recourse financing and community development district and similar assessment district bond financings used to finance land acquisition, development and infrastructure costs for which we are responsible. At December 31, 2016, $27.6 d. Borrowings and Maturities The principal amount of maturities of senior and convertible senior notes payable, and secured project debt and other notes payable are as follows: Year Ended December 31, (Dollars in thousands) 2017 $ 246,958 2018 809,274 2019 268,399 2020 300,448 2021 700,000 Thereafter 1,103,000 Total principal amount 3,428,079 Less: Net (discount) premium 5,525 Less: Debt issuance costs (13,817 ) Total homebuilding debt $ 3,419,787 The weighted average interest rate of our borrowings outstanding under our revolving credit facility, senior and convertible senior notes payable, secured project debt and other notes payable as of December 31, 2016, 2015 2014, 5.7%, 6.1%, 7.2%, e. Revolving Credit Facility As of December 31, 2016, $750 $350 October 2019. may $1.2 0.77% December 31, 2016) 1.75%, (3.75% December 31, 2016) 0.75%. In addition to customary representations and warranties, the facility contains financial and other covenants, including a minimum tangible net worth requirement of $1.65 2.00 1.00 four 1.25 1.00. December 31, 2016. December, 2016, $112.1 $637.9

Note 9 - Preferred Stock

Note 9 - Preferred Stock	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Preferred Stock [Text Block]	9. Prior to our merger with Ryland, MatlinPatterson held all of the outstanding shares of Company Series B Preferred Stock and 126.4 59% 17.6 December 31, 2016, 42.8 37%) no

Note 10 - Mortgage Credit Facil

Note 10 - Mortgage Credit Facility	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Disclosure of Warehouse Agreement Borrowings [Text Block]	10. At December 31, 2016, $247.4 $300 one April 2017. $3.0 December 31, 2016, December 31, 2016,

Note 11 - Disclosures About Fai

Note 11 - Disclosures About Fair Value	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	11. ASC Topic 820, Fair Value Measurements and Disclosures 820"), 820 820 three • Level 1 identical • Level 2 similar • Level 3 one unobservable Financial instruments measured at fair value on a recurring basis: Fair Value at December 31, Description Fair Value Hierarchy 2016 2015 (Dollars in thousands) Marketable securities, available-for-sale Municipal debt securities Level 2 $ 9,387 $ 9,734 Metropolitan district bond securities Level 3 $ 8,711 $ 9,710 Mortgage loans held for sale Level 2 $ 265,542 $ 328,835 Marketable Securities, Available-for-sale Marketable securities that are available-for-sale are comprised mainly of municipal debt securities and metropolitan district bond securities. The Company’s municipal debt securities are valued based on quoted market prices of similar instruments and the metropolitan district bond securities are based on a discounted future cash flow model, which uses Level 3 (1) (2) (3) December 31, 2016 2015, $400 5% 12%. Mortgage loans held for sale Mortgage loans held for sale first third Financial instruments for which we have not elected the fair value option in accordance with ASC 825: December 31, 2016 December 31, 2015 Description Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value (Dollars in thousands) Financial services assets: Mortgage loans held for investment, net Level 2 $ 24,924 $ 24,924 $ 22,704 $ 22,704 Homebuilding liabilities: Senior and convertible senior notes payable, net Level 2 $ 3,392,208 $ 3,617,838 $ 3,462,016 $ 3,675,276 Mortgage Loans Held for Investment – Senior Notes Payable – The fair value of our cash and equivalents, restricted cash, accounts payable and other liabilities, secured project debt and other notes payable, revolving credit facility, and mortgage credit facility approximate their carrying amounts due to the short-term nature of these assets and liabilities.

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	12. a. Land Purchase and Option Agreements We are subject to obligations associated with entering into contracts for the purchase of land and improved homesites. These purchase contracts typically require us to provide a cash deposit or deliver a letter of credit in favor of the seller, and our purchase of properties under these contracts is generally contingent upon satisfaction of certain requirements by the sellers, including obtaining applicable property and development entitlements. We also utilize option contracts with land sellers as a method of acquiring land in staged takedowns, to help us manage the financial and market risk associated with land holdings, and to reduce the near-term use of funds from our corporate financing sources. Option contracts generally require a non-refundable deposit for the right to acquire lots over a specified period of time at predetermined prices. We generally have the right at our discretion to terminate our obligations under both purchase contracts and option contracts by forfeiting our cash deposit or by repaying amounts drawn under our letter of credit with no further financial responsibility to the land seller, although in certain instances, the land seller has the right to compel us to purchase a specified number of lots at predetermined prices. In some instances, we may December 31, 2016, $59.9 $13.1 $744.7 Our utilization of option contracts is dependent on, among other things, the availability of land sellers willing to enter into option takedown arrangements, the availability of capital to financial intermediaries, general housing market conditions, and geographic preferences. Options may b. Land Development and Homebuilding Joint Ventures Our joint ventures have historically obtained secured acquisition, development and construction financing designed to reduce the use of funds from corporate financing sources. As of December 31, 2016, 27 13 14 two $31.0 June 2017. December 31, 2016, c. Surety Bonds We obtain surety bonds in the normal course of business to ensure completion of the infrastructure of our communities. At December 31, 2016, $892.1 $445.1 d. Mortgage Loans and Commitments We commit to making mortgage loans to our homebuyers through our mortgage financing subsidiary, CalAtlantic Mortgage. CalAtlantic Mortgage sells substantially all of the loans it originates in the secondary 30 45 $275.9 December 31, 2016 3.7%. December 31, 2016, $261.8 $26.9 December 31, 2016, $249.0 third Substantially all of the loans originated by CalAtlantic Mortgage are sold with servicing rights released on a non-recourse basis. These sales are generally subject to CalAtlantic Mortgage’s obligation to repay its gain on sale if the loan is prepaid by the borrower within a certain time period following such sale, or to repurchase the loan if, among other things, the purchaser’s underwriting guidelines are not met, or there is fraud in connection with the loan. During the years ended December 31, 2016, 2015 2014, $0.1 $0.3 $0.5 December 31, 2016 2015, $3.6 $3.9 December 31, 2016, 2015 2014, $0.4 $0.1 $0.5 e. Insurance and Litigation Accruals We are involved in various litigation and legal claims arising in the ordinary course of business and have established insurance and litigation accruals for estimated future claim costs (please see Note 2.t. f. Operating Leases We lease office facilities and certain equipment under noncancelable operating leases. Future minimum rental payments under these leases having an initial term in excess of one December 31, 2016 Year Ended December 31, (Dollars in thousands) 2017 $ 10,104 2018 8,886 2019 7,575 2020 5,643 2021 3,910 Thereafter 4,834 Total rental obligations $ 40,952 Rent expense under noncancelable operating leases, net of sublease income, for each of the years ended December 31, 2016, 2015 2014 $10.8 $6.5 $4.4

Note 13 - Income Taxes

Note 13 - Income Taxes	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	13. The (provision) benefit for income taxes includes the following components: Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Current (provision) benefit for income taxes: Federal $ (223,605 ) $ (83,541 ) $ (28,942 ) State (16,470 ) (6,803 ) (6,159 ) (240,075 ) (90,344 ) (35,101 ) Deferred (provision) benefit for income taxes: Federal (6,128 ) (24,395 ) (84,704 ) State (22,183 ) (14,241 ) (14,294 ) (28,311 ) (38,636 ) (98,998 ) (Provision) benefit for income taxes $ (268,386 ) $ (128,980 ) $ (134,099 ) The components of our net deferred income tax asset are as follows: December 31, 2016 2015 (Dollars in thousands) Inventory valuation adjustments $ 73,353 $ 98,141 Financial accruals 106,862 129,120 Federal net operating loss carryforwards 92,043 97,507 State net operating loss carryforwards 45,607 60,739 Tax credit carryforwards 2,347 1,246 Goodwill impairment charges 3,396 4,287 Other, net 9,226 6,310 Total deferred tax asset 332,834 397,350 Less: Valuation allowance (2,456 ) (1,156 ) Net deferred tax asset $ 330,378 $ 396,194 Each quarter we assess our deferred tax asset to determine whether all or any portion of the asset is more likely than not unrealizable under ASC 740. As of December 31, 2016, $332.8 $2.5 $103.9 $263.0 $285.7 382 382") gross annual deduction limitation of $15.6 $21.7 $798.1 382 October 1, 2015 $12.0 $168.5 382. $263.0 $1.3 2028 2020, $195.1 As of December 31, 2015, $397.4 $1.2 $112.6 $278.6 $263.1 382 382") $15.6 $45.6 382. $278.6 $1.2 2028 2016, Our 2016 $268.4 $753.1 The effective tax rate differs from the federal statutory rate of 35% Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Income before taxes $ 753,116 $ 342,489 $ 349,964 (Provision) benefit for income taxes at federal statutory rate $ (263,591 ) $ (119,871 ) $ (122,488 ) (Increases) decreases in tax resulting from: State income taxes, net of federal benefit (24,649 ) (11,680 ) (12,961 ) Net deferred tax asset valuation (allowance) benefit (371 ) 1,405 2,030 (Increases) decreases in liability for unrecognized tax benefits (466 ) (1,611 ) (1,605 ) Nondeductible expenses and credits 364 (2,164 ) ― Domestic production activities deduction 18,324 6,150 1,562 Other, net 2,003 (1,209 ) (637 ) (Provision) benefit for income taxes $ (268,386 ) $ (128,980 ) $ (134,099 ) Effective tax rate 35.6 % 37.7 % 38.3 % As of December 31, 2016, $12.1 $7.9 December 31, 2016 2015, $1.4 $1.3 2016, 2015, 2014 $0.1 $1.0 $0.3 A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, excluding accrued interest, is as follows: Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Balance, beginning of the year $ 10,631 $ 2,536 $ 472 Assumed with Ryland merger ― 6,182 ― Changes based on tax positions related to the current year 2,256 2,060 1,567 Changes for tax position in prior years ― ― 497 Reductions due to lapse of statute of limitations (761 ) (147 ) ― Settlements ― ― ― Balance, end of the year $ 12,126 $ 10,631 $ 2,536 We do not expect a significant change in the liability for unrecognized tax benefits during the next twelve December 31, 2016, December 31, 2011 2016.

Note 14 - Stock Incentive and E

Note 14 - Stock Incentive and Employee Benefit Plans	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	14. a. Stock Incentive Plans The Company has share-based awards outstanding under three may one four five ten three During the years ended December 31, 2015 2014, 2.2 1.3 2016. 2015 2014 $20.00 The following is a summary of stock option and stock appreciation rights activity relating to our three December 31, 2016, 2015 2014: 2016 2015 2014 Number of Shares Weighted Average Exercise Price Number of Shares Weighted Average Exercise Price Number of Shares Weighted Average Exercise Price Outstanding, beginning of year 4,900,617 $ 33.83 4,418,308 $ 29.19 3,956,373 $ 27.70 Granted ― ― 2,167,150 34.32 1,303,054 39.50 Exercised (408,839 ) 18.61 (1,287,216 ) 14.17 (524,185 ) 18.20 Canceled (484,611 ) 41.34 (397,625 ) 48.61 (316,934 ) 71.20 Outstanding, end of year 4,007,167 $ 34.47 4,900,617 $ 33.83 4,418,308 $ 29.19 Exercisable at end of year 2,789,384 $ 33.32 2,554,114 $ 28.90 1,952,477 $ 19.90 Available for future grant 8,650,219 9,061,407 10,246,013 At December 31, 2016, 3,853,751 $34.19 1.93 December 31, 2016, 2015 2014, $3.2 $5.0 $2.5 December 31, 2016, 2015 2014 $5.7 $37.5 $12.6 The following table summarizes information about stock options and stock appreciation rights outstanding and exercisable at December 31, 2016: Outstanding Exercisable Exercise Prices Number Weighted Average Exercise Weighted Average Remaining Contractual Number Weighted Average Exercise Low High of Shares Price Life of Shares Price $ 17.88 $ 21.45 1,284,466 $ 19.99 0.97 1,010,466 $ 19.99 $ 28.35 $ 41.16 1,032,006 $ 38.86 3.16 539,446 $ 38.86 $ 41.95 $ 46.45 1,690,695 $ 42.79 2.04 1,239,472 $ 42.79 As of December 31, 2016, $18.1 $14.6 $18.1 2016 The fair value of each stock appreciation right granted during December 31, 2015 2014 2015 2014 Dividend yield 0.00 % 0.00 % Expected volatility 40.89 % 48.44 % Risk-free interest rate 0.93 % 0.95 % Expected life (years) 3.5 3.5 Based on the above assumptions, the weighted average per share fair value of stock appreciation rights granted during the years ended December 31, 2015 2014, $5.30 $4.95, Restricted Stock Awards During the years ended December 31, 2016, 2015 2014, three first three over the vesting period. The following is a summary of unvested restricted stock activity for the years ended December 31, 2016, 2015 2014: 2016 2015 2014 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Outstanding, beginning of year 195,027 $ 41.08 154,143 $ 37.55 107,706 $ 33.60 Granted 329,198 33.16 133,616 41.89 94,590 39.20 Vested (84,044 ) 40.96 (82,293 ) 35.75 (42,310 ) 31.60 Canceled (9,363 ) 37.03 (10,439 ) 41.26 (5,843 ) 33.65 Outstanding, end of year 430,818 $ 35.14 195,027 $ 41.08 154,143 $ 37.55 Performance Share Awards During the years ended December 31, 2016, 2015 2014, 2016 ("2016 1 2 2016 2018, 2015 ("2015 1 3 2016 2017, 2014 ("2014 1 4 December 31, 2016, December 31, 2016, 2015 2014, three 2016 2018 ("2016 2015 2017 ("2015 2014 2016 ("2014 2016 1 2 2015 1 3 2014 1 4 The following is a summary of performance share award activity for the years ended December 31, 2016, 2015 2014: 2016 2015 2014 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Outstanding, beginning of year 198,759 $ 47.63 166,031 $ 36.20 120,448 $ 29.05 Granted 319,798 30.36 348,756 30.46 45,583 55.05 Vested (50,429 ) 41.95 (316,028 ) 22.68 ― ― Canceled ― ― ― ― ― ― Outstanding, end of year 468,128 $ 36.45 198,759 $ 47.63 166,031 $ 36.20 Other Stock-Based Awards. During the years ended December 31, 2016, 2015 2014, 22,710 13,498 12,174 Total compensation expense recognized related to stock-based compensation was as follows: Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Stock options and stock appreciation rights $ 3,309 $ 8,709 $ 3,618 Unrestricted stock grants 780 555 480 Restricted stock grants 4,359 3,261 1,842 Performance share awards 9,346 3,099 2,529 Total $ 17,794 $ 15,624 $ 8,469 Total unrecognized compensation expense related to stock-based compensation was as follows: As of December 31, 2016 2015 2014 Unrecognized Expense Weighted Average Period (years) Unrecognized Expense Weighted Average Period (years) Unrecognized Expense Weighted Average Period (years) (Dollars in thousands) Unvested stock options and stock appreciation rights $ 3,255 1.3 $ 7,216 2.1 $ 6,777 2.1 Unvested restricted stock grants 11,146 2.2 5,850 2.1 4,090 2.1 Unvested performance share awards 13,409 2.0 5,117 2.0 3,267 1.7 Total unrecognized compensation expense $ 27,810 2.0 $ 18,183 2.0 $ 14,134 2.0 b. Employee Benefit Plan We have a defined contribution plan pursuant to Section 401(k) may $7,000 December 31, 2016, 2015 2014, $10.2 $4.7 $3.6

Note 15 - Stockholder Rights Pl

Note 15 - Stockholder Rights Plan	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Common Stock Rights Plan [Text Block]	15. On October 30, 2014, 1 1") December 20, 2011, December 31, 2016. 1 December 31, 2017, December 31, 2001 December 20, 2011, one December 31, 2001, 15% $100.00), two 15% 50% may 50% may $0.005 December 31, 2017, three

Note 16 - Results of Quarterly

Note 16 - Results of Quarterly Operations (Unaudited)	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Quarterly Financial Information [Text Block]	16. First Quarter Second Quarter Third Quarter Fourth Quarter Total (1) (Dollars in thousands, except per share amounts) 2016: Revenues $ 1,203,235 $ 1,598,901 $ 1,692,391 $ 1,982,208 $ 6,476,735 Homebuilding gross margin $ 247,188 $ 341,357 $ 374,692 $ 427,393 $ 1,390,630 Net income $ 72,661 $ 112,760 $ 132,348 $ 166,961 $ 484,730 Basic income per common share $ 0.60 $ 0.95 $ 1.12 $ 1.44 $ 4.09 Diluted income per common share $ 0.52 $ 0.83 $ 0.97 $ 1.25 $ 3.60 2015: Revenues $ 475,671 $ 707,044 $ 659,200 $ 1,698,198 $ 3,540,113 Homebuilding gross margin $ 114,105 $ 171,941 $ 159,756 $ 330,669 $ 776,471 Net income $ 31,605 $ 57,198 $ 47,177 $ 77,529 $ 213,509 Basic income per common share $ 0.45 $ 0.80 $ 0.65 $ 0.64 $ 2.51 Diluted income per common share $ 0.40 $ 0.70 $ 0.59 $ 0.56 $ 2.26 (1) Per share amounts do not add across due to rounding differences in quarterly amounts and due to the impact of differences between the quarterly and annual weighted average share calculations.

Note 17 - Supplemental Disclosu

Note 17 - Supplemental Disclosures to Consolidated Statements of Cash Flows	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	17 Supplemental Disclosure to Consolidated Statements of Cash Flows The following are supplemental disclosures to the consolidated statements of cash flows: Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Supplemental Disclosures of Cash Flow Information: Cash paid during the period for: Interest $ 220,198 $ 180,536 $ 141,527 Income taxes $ 226,959 $ 81,949 $ 7,297 Supplemental Disclosure of Noncash Activities: Increase in assets in connection with merger $ ― $ 2,798,739 $ ― Liabilities assumed in connection with business combinations $ ― $ 2,028,332 $ 3,659 Increase in secured project debt related to seller financed inventory purchases $ 25,124 $ ― $ ― Changes in inventories not owned $ 18,550 $ 34,589 $ 14,074 Changes in liabilities from inventories not owned $ 18,550 $ 17,099 $ 14,074

Note 18 - Supplemental Guaranto

Note 18 - Supplemental Guarantor Information	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Supplemental Guarantor Information [Text Block]	18. CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Year Ended December 31, 2016 CalAtlantic Group, Inc. Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) Homebuilding: Revenues $ 2,674,122 $ 2,629,329 $ 1,084,589 $ ― $ 6,388,040 Cost of sales (2,131,342 ) (2,099,621 ) (766,447 ) ― (4,997,410 ) Gross margin 542,780 529,708 318,142 ― 1,390,630 Selling, general and administrative expenses (278,972 ) (310,492 ) (74,995 ) ― (664,459 ) Income (loss) from unconsolidated joint ventures 355 594 3,108 ― 4,057 Equity income of subsidiaries 330,815 ― ― (330,815 ) ― Interest income (expense), net 4,708 (3,578 ) (1,130 ) ― ― Other income (expense) (15,238 ) (2,064 ) 576 ― (16,726 ) Homebuilding pretax income 584,448 214,168 245,701 (330,815 ) 713,502 Financial Services: Financial services pretax income ― ― 39,614 ― 39,614 Income before taxes 584,448 214,168 285,315 (330,815 ) 753,116 Provision for income taxes (99,718 ) (92,267 ) (76,401 ) ― (268,386 ) Net income $ 484,730 $ 121,901 $ 208,914 $ (330,815 ) $ 484,730 Year Ended December 31, 2015 CalAtlantic Group, Inc. Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) Homebuilding: Revenues $ 1,234,750 $ 1,500,676 $ 787,707 $ (26,722 ) $ 3,496,411 Cost of sales (989,834 ) (1,194,605 ) (562,223 ) 26,722 (2,719,940 ) Gross margin 244,916 306,071 225,484 ― 776,471 Selling, general and administrative expenses (145,458 ) (185,779 ) (59,473 ) ― (390,710 ) Income (loss) from unconsolidated joint ventures 540 269 1,157 ― 1,966 Equity income of subsidiaries 201,261 ― ― (201,261 ) ― Interest income (expense), net 12,388 (9,374 ) (3,014 ) ― ― Other income (expense) (57,629 ) (2,678 ) (1,870 ) ― (62,177 ) Homebuilding pretax income 256,018 108,509 162,284 (201,261 ) 325,550 Financial Services: Financial services pretax income ― ― 16,939 ― 16,939 Income before taxes 256,018 108,509 179,223 (201,261 ) 342,489 Provision for income taxes (42,509 ) (49,512 ) (36,959 ) ― (128,980 ) Net income $ 213,509 $ 58,997 $ 142,264 $ (201,261 ) $ 213,509 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Year Ended December 31, 2014 CalAtlantic Group, Inc. Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) Homebuilding: Revenues $ 813,423 $ 1,025,404 $ 572,351 $ ― $ 2,411,178 Cost of sales (599,911 ) (779,578 ) (413,306 ) ― (1,792,795 ) Gross margin 213,512 245,826 159,045 ― 618,383 Selling, general and administrative expenses (101,020 ) (131,068 ) (43,773 ) ― (275,861 ) Income (loss) from unconsolidated joint ventures (71 ) 88 (685 ) ― (668 ) Equity income of subsidiaries 155,943 ― ― (155,943 ) ― Interest income (expense), net 13,718 (11,497 ) (2,221 ) ― ― Other income (expense) (3,954 ) (469 ) 2,690 ― (1,733 ) Homebuilding pretax income 278,128 102,880 115,056 (155,943 ) 340,121 Financial Services: Financial services pretax income ― ― 9,843 ― 9,843 Income before taxes 278,128 102,880 124,899 (155,943 ) 349,964 Provision for income taxes (62,263 ) (40,469 ) (31,367 ) ― (134,099 ) Net income $ 215,865 $ 62,411 $ 93,532 $ (155,943 ) $ 215,865 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2016 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) ASSETS Homebuilding: Cash and equivalents $ 105,261 $ 38,211 $ 47,614 $ ― $ 191,086 Restricted cash ― ― 28,321 ― 28,321 Intercompany receivables 2,045,773 ― 334,926 (2,380,699 ) ― Inventories: Owned 2,825,234 2,277,840 1,335,718 ― 6,438,792 Not owned 30,953 32,596 2,718 ― 66,267 Investments in unconsolidated joint ventures 4,469 4,923 117,735 ― 127,127 Investments in subsidiaries 1,954,418 ― ― (1,954,418 ) ― Deferred income taxes, net 337,021 ― ― (6,643 ) 330,378 Goodwill 970,185 ― ― ― 970,185 Other assets 165,214 36,725 2,550 ― 204,489 Total Homebuilding Assets 8,438,528 2,390,295 1,869,582 (4,341,760 ) 8,356,645 Financial Services: Cash and equivalents ― ― 17,041 ― 17,041 Restricted cash ― ― 21,710 ― 21,710 Mortgage loans held for sale, net ― ― 262,058 ― 262,058 Mortgage loans held for investment, net ― ― 24,924 ― 24,924 Other assets ― ― 28,467 (1,801 ) 26,666 Total Financial Services Assets ― ― 354,200 (1,801 ) 352,399 Total Assets $ 8,438,528 $ 2,390,295 $ 2,223,782 $ (4,343,561 ) $ 8,709,044 LIABILITIES AND EQUITY Homebuilding: Accounts payable $ 92,611 $ 78,729 $ 40,440 $ ― $ 211,780 Accrued liabilities and intercompany payables 387,098 1,302,228 964,796 (2,054,217 ) 599,905 Secured project debt and other notes payable 359,025 ― 3,480 (334,926 ) 27,579 Senior notes payable 3,392,208 ― ― ― 3,392,208 Total Homebuilding Liabilities 4,230,942 1,380,957 1,008,716 (2,389,143 ) 4,231,472 Financial Services: Accounts payable and other liabilities ― ― 22,559 ― 22,559 Mortgage credit facilities ― ― 247,427 ― 247,427 Total Financial Services Liabilities ― ― 269,986 ― 269,986 Total Liabilities 4,230,942 1,380,957 1,278,702 (2,389,143 ) 4,501,458 Equity: Total Equity 4,207,586 1,009,338 945,080 (1,954,418 ) 4,207,586 Total Liabilities and Equity $ 8,438,528 $ 2,390,295 $ 2,223,782 $ (4,343,561 ) $ 8,709,044 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2015 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) ASSETS Homebuilding: Cash and equivalents $ 6,387 $ 112,852 $ 31,837 $ ― $ 151,076 Restricted cash ― ― 35,990 ― 35,990 Intercompany receivables 2,380,899 ― 152,505 (2,533,404 ) ― Inventories: Owned 2,524,927 2,304,305 1,240,727 ― 6,069,959 Not owned 32,393 38,925 11,928 ― 83,246 Investments in unconsolidated joint ventures 5,353 4,330 123,080 ― 132,763 Investments in subsidiaries 1,644,453 ― ― (1,644,453 ) ― Deferred income taxes, net 405,945 ― ― (9,751 ) 396,194 Goodwill 933,360 ― ― ― 933,360 Other assets 151,475 48,027 3,163 ― 202,665 Total Homebuilding Assets 8,085,192 2,508,439 1,599,230 (4,187,608 ) 8,005,253 Financial Services: Cash and equivalents ― ― 35,518 ― 35,518 Restricted cash ― ― 22,914 ― 22,914 Mortgage loans held for sale, net ― ― 325,770 ― 325,770 Mortgage loans held for investment, net ― ― 22,704 ― 22,704 Other assets ― ― 18,886 (1,643 ) 17,243 Total Financial Services Assets ― ― 425,792 (1,643 ) 424,149 Total Assets $ 8,085,192 $ 2,508,439 $ 2,025,022 $ (4,189,251 ) $ 8,429,402 LIABILITIES AND EQUITY Homebuilding: Accounts payable $ 91,873 $ 82,906 $ 16,902 $ ― $ 191,681 Accrued liabilities and intercompany payables 499,700 1,538,096 903,761 (2,378,867 ) 562,690 Secured project debt and other notes payable 170,167 ― 4,061 (148,545 ) 25,683 Senior notes payable 3,462,016 ― ― ― 3,462,016 Total Homebuilding Liabilities 4,223,756 1,621,002 924,724 (2,527,412 ) 4,242,070 Financial Services: Accounts payable and other liabilities ― ― 39,860 (17,386 ) 22,474 Mortgage credit facilities ― ― 303,422 ― 303,422 Total Financial Services Liabilities ― ― 343,282 (17,386 ) 325,896 Total Liabilities 4,223,756 1,621,002 1,268,006 (2,544,798 ) 4,567,966 Equity: Total Equity 3,861,436 887,437 757,016 (1,644,453 ) 3,861,436 Total Liabilities and Equity $ 8,085,192 $ 2,508,439 $ 2,025,022 $ (4,189,251 ) $ 8,429,402 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2016 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) Cash Flows From Operating Activities: Net cash provided by (used in) operating activities $ 35,434 $ 120,540 $ 166,340 $ ― $ 322,314 Cash Flows From Investing Activities: Investments in unconsolidated homebuilding joint ventures (276 ) (227 ) (28,615 ) ― (29,118 ) Distributions of capital from unconsolidated homebuilding joint ventures 1,104 336 38,295 ― 39,735 Loan to parent and subsidiaries ― ― (187,300 ) 187,300 ― Other investing activities (616 ) (3,496 ) (3,576 ) ― (7,688 ) Net cash provided by (used in) investing activities 212 (3,387 ) (181,196 ) 187,300 2,929 Cash Flows From Financing Activities: Change in restricted cash ― ― 8,873 ― 8,873 Borrowing from revolving credit facility 1,433,200 ― ― ― 1,433,200 Principal payments on revolving credit facility (1,433,200 ) ― ― ― (1,433,200 ) Principal payments on secured project debt and other notes payable (22,647 ) ― (581 ) ― (23,228 ) Loan from subsidiary 187,300 ― ― (187,300 ) ― Principal payments on senior notes payable (280,000 ) ― ― ― (280,000 ) Proceeds from the issuance of senior notes payable 300,000 ― ― ― 300,000 Payment of debt issuance costs (2,669 ) ― ― ― (2,669 ) Net proceeds from (payments on) mortgage credit facilities ― ― (55,995 ) ― (55,995 ) (Contributions to) distributions from Corporate and subsidiaries 20,850 ― (20,850 ) ― ― Repurchases of common stock (232,520 ) ― ― ― (232,520 ) Common stock dividend payments (18,841 ) ― ― ― (18,841 ) Issuance of common stock under employee stock plans, net of withholdings 1,330 ― ― ― 1,330 Excess tax benefit (provision) from share-based payment arrangements (460 ) ― ― ― (460 ) Other financing activities ― (200 ) ― ― (200 ) Intercompany advances, net 110,885 (191,594 ) 80,709 ― ― Net cash provided by (used in) financing activities 63,228 (191,794 ) 12,156 (187,300 ) (303,710 ) Net increase (decrease) in cash and equivalents 98,874 (74,641 ) (2,700 ) ― 21,533 Cash and equivalents at beginning of year 6,387 112,852 67,355 ― 186,594 Cash and equivalents at end of year $ 105,261 $ 38,211 $ 64,655 $ ― $ 208,127 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2015 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) Cash Flows From Operating Activities: Net cash provided by (used in) operating activities $ (17,201 ) $ (107,470 ) $ (146,690 ) $ ― $ (271,361 ) Cash Flows From Investing Activities: Investments in unconsolidated homebuilding joint ventures ― ― (91,453 ) ― (91,453 ) Distributions of capital from unconsolidated homebuilding joint ventures 641 75 18,866 ― 19,582 Cash acquired in connection with merger 20,345 238,034 10,138 ― 268,517 Loan to parent and subsidiaries ― ― 34,000 (34,000 ) ― Other investing activities 9 (4,310 ) (7,671 ) ― (11,972 ) Net cash provided by (used in) investing activities 20,995 233,799 (36,120 ) (34,000 ) 184,674 Cash Flows From Financing Activities: Change in restricted cash ― ― 652 ― 652 Borrowing from revolving credit facility 852,700 ― ― ― 852,700 Principal payments on revolving credit facility (852,700 ) ― ― ― (852,700 ) Principal payments on secured project debt and other notes payable (1,893 ) ― (639 ) ― (2,532 ) Loan from subsidiary 46,000 ― ― (46,000 ) ― Principal payments on senior notes payable (29,789 ) ― ― ― (29,789 ) Payment of debt issuance costs (1,016 ) ― ― ― (1,016 ) Net proceeds from (payments on) mortgage credit facilities ― ― 30,469 80,000 110,469 (Contributions to) distributions from Corporate and subsidiaries 13,873 (31,719 ) 17,846 ― ― Repurchases of common stock (22,073 ) ― ― ― (22,073 ) Common stock dividend payments (4,851 ) ― ― ― (4,851 ) Issuance of common stock under employee stock plans, net of withholdings 1,000 ― ― ― 1,000 Excess tax benefit (provision) from share-based payment arrangements 9,250 ― ― ― 9,250 Other financing activities ― (95 ) (127 ) ― (222 ) Intercompany advances, net (141,212 ) 17,276 123,936 ― ― Net cash provided by (used in) financing activities (130,711 ) (14,538 ) 172,137 34,000 60,888 Net increase (decrease) in cash and equivalents (126,917 ) 111,791 (10,673 ) ― (25,799 ) Cash and equivalents at beginning of year 133,304 1,061 78,028 ― 212,393 Cash and equivalents at end of year $ 6,387 $ 112,852 $ 67,355 $ ― $ 186,594 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Year Ended December 31, 2014 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) Cash Flows From Operating Activities: Net cash provided by (used in) operating activities $ (56,158 ) $ (118,941 ) $ (187,298 ) $ ― $ (362,397 ) Cash Flows From Investing Activities: Investments in unconsolidated homebuilding joint ventures ― ― (10,506 ) ― (10,506 ) Distributions of capital from unconsolidated homebuilding joint ventures 227 228 17,555 ― 18,010 Net cash paid for acquisitions ― (36,047 ) 2,277 ― (33,770 ) Loan to parent and subsidiaries ― ― (180,000 ) 180,000 ― Other investing activities (1,571 ) (1,351 ) (1,832 ) ― (4,754 ) Net cash provided by (used in) investing activities (1,344 ) (37,170 ) (172,506 ) 180,000 (31,020 ) Cash Flows From Financing Activities: Change in restricted cash ― ― (16,762 ) ― (16,762 ) Principal payments on secured project debt and other notes payable ― ― (1,458 ) ― (1,458 ) Loan from subsidiary 100,000 ― ― (100,000 ) ― Principal payments on senior notes payable (4,971 ) ― ― ― (4,971 ) Proceeds from the issuance of senior notes payable 300,000 ― ― ― 300,000 Payment of debt issuance costs (6,230 ) ― ― ― (6,230 ) Net proceeds from (payments on) mortgage credit facilities ― ― 68,546 (80,000 ) (11,454 ) (Contributions to) distributions from Corporate and subsidiaries 8,350 ― (8,350 ) ― ― Repurchases of common stock (36,781 ) ― ― ― (36,781 ) Issuance of common stock under employee stock plans, net of withholdings 6,771 ― ― ― 6,771 Excess tax benefit (provision) from share-based payment arrangements 13,404 ― ― ― 13,404 Intercompany advances, net (365,026 ) 156,678 208,348 ― ― Net cash provided by (used in) financing activities 15,517 156,678 250,324 (180,000 ) 242,519 Net increase (decrease) in cash and equivalents (41,985 ) 567 (109,480 ) ― (150,898 ) Cash and equivalents at beginning of year 175,289 494 187,508 ― 363,291 Cash and equivalents at end of year $ 133,304 $ 1,061 $ 78,028 $ ― $ 212,393

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	a. Basis of Presentation The consolidated financial statements include the accounts of CalAtlantic Group, Inc. and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Certain reclassifications have been made to prior year amounts to conform to the current year presentation.
Use of Estimates, Policy [Policy Text Block]	b. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Segment Reporting, Policy [Policy Text Block]	c. Segment Reporting Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting 280") 280, four four
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	d. Variable Interest Entities We account for variable interest entities in accordance with ASC Topic 810, Consolidation 810"). 810, 810, 810,
Equity Method Investments, Policy [Policy Text Block]	e. Limited Partnerships and Limited Liability Companies We analyze our homebuilding and land development joint ventures under the provisions of ASC 810 810, (1) (2) 810, may
Revenue Recognition, Policy [Policy Text Block]	f. Revenue Recognition In accordance with ASC Topic 360 20, Property, Plant, and Equipment – Real Estate Sales 360 20"), 360 20, third In accordance with ASC Topic 825, Financial Instruments 825"), 30 45
Cost of Sales, Policy [Policy Text Block]	g. Cost of Sales Homebuilding cost of sales is recognized in the period when the related homebuilding revenues are recognized. Cost of sales is recorded based upon total estimated costs to be allocated to each home within a community. Certain direct construction costs are specifically identified and allocated to homes while other common costs, such as land, land improvements and carrying costs, are allocated to homes within a community based upon their anticipated relative sales or fair value. Any changes to the estimated costs are allocated to the remaining undelivered lots and homes within their respective community. The estimation of these costs requires a substantial degree of judgment by management.
Standard Product Warranty, Policy [Policy Text Block]	h. Warranty Costs Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related homebuilding revenues are recognized. Amounts accrued are based upon historical experience. Indirect warranty overhead salaries and related costs are charged to cost of sales in the period incurred. We assess the adequacy of our warranty accrual on a quarterly basis and adjust the amounts recorded if necessary. During the years ended December 31, 2016, 2015 2014, Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Warranty accrual, beginning of the year $ 40,691 $ 13,584 $ 13,811 Warranty accrual assumed with merger ― 25,528 ― Warranty costs accrued during the year 24,092 13,803 7,550 Warranty costs paid during the year (20,851 ) (12,224 ) (7,777 ) Warranty accrual, end of the year $ 43,932 $ 40,691 $ 13,584
Earnings Per Share, Policy [Policy Text Block]	i. Earnings Per Common Share We compute earnings per share in accordance with ASC Topic 260, Earnings per Share 260"), two two two two Basic earnings per common share is computed by dividing income or loss available to common stockholders by the weighted average number of shares of basic common stock outstanding. Our Series B junior participating convertible preferred stock ("Series B Preferred Stock"), which was convertible into shares of our common stock at the holder’s option, and our unvested restricted stock, are classified as participating securities in accordance with ASC 260. For purposes of determining diluted earnings per common share, basic earnings per common share is further adjusted to include the effect of potential dilutive common shares outstanding, including stock options, stock appreciation rights, performance share awards and unvested restricted stock using the more dilutive of either the two two two Year Ended December 31, 2016 2015 2014 (Dollars in thousands, except per share amounts) Numerator: Net income $ 484,730 $ 213,509 $ 215,865 Less: Net income allocated to preferred shareholder ― (32,997 ) (51,650 ) Less: Net income allocated to unvested restricted stock (1,168 ) (369 ) (297 ) Net income available to common stockholders for basic earnings per common share 483,562 180,143 163,918 Effect of dilutive securities: Net income allocated to preferred shareholder ― 32,997 51,650 Interest on 1.625% convertible senior notes due 2018 2,059 47 n/a Interest on 0.25% convertible senior notes due 2019 1,862 9 n/a Interest on 1.25% convertible senior notes due 2032 1,407 898 899 Net income available to common and preferred stock for diluted earnings per share $ 488,890 $ 214,094 $ 216,467 Denominator: Weighted average basic common shares outstanding 118,212,740 71,713,747 55,737,548 Weighted average additional common shares outstanding if preferred shares converted to common shares (if dilutive) ― 13,135,814 17,562,557 Total weighted average common shares outstanding if preferred shares converted to common shares 118,212,740 84,849,561 73,300,105 Effect of dilutive securities: Share-based awards 666,928 816,459 1,256,964 1.625% convertible senior notes due 2018 7,167,960 1,804,192 n/a 0.25% convertible senior notes due 2019 3,639,150 915,985 n/a 1.25% convertible senior notes due 2032 6,298,207 6,262,570 6,262,570 Weighted average diluted shares outstanding 135,984,985 94,648,767 80,819,639 Income per share: Basic $ 4.09 $ 2.51 $ 2.94 Diluted
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	j. Stock-Based Compensation We account for share-based awards in accordance with ASC Topic 718, Compensation – Stock Compensation 718"). 718 718
Comprehensive Income, Policy [Policy Text Block]	k. Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) consists of unrealized gains or losses on available-for-sale marketable securities, as reported within the accompanying consolidated statements of stockholders' equity and consolidated statements of comprehensive income. At December 31, 2016, $523,000 $695,000. 2.u.
Cash and Cash Equivalents, Policy [Policy Text Block]	l. Cash and Equivalents and Restricted Cash Cash and equivalents include cash on hand, demand deposits and all highly liquid short-term investments, including interest-bearing securities purchased with a maturity of three December 31, 2016, $150.3 five At December 31, 2016, $28.3 December 31, 2016 $17.7 $3.0 $1.0 third
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block]	m. Mortgage Loans Held for Sale In accordance with ASC 825, sell substantially all of the loans we originate in the secondary
Finance, Loan and Lease Receivables, Held-for-investment, Policy [Policy Text Block]	n. Mortgage Loans Held for Investment Certain mortgage loans are classified as held for investment based on our intent and ability to hold the loans for the foreseeable future or to maturity. Mortgage loans held for investment are recorded at their unpaid principal balance, net of discounts and premiums, unamortized net deferred loan origination costs and fees and allowance for loan losses. Discounts, premiums, and net deferred loan origination costs and fees are amortized into income over the contractual life of the loan. Mortgage loans held for investment are continually evaluated for collectability and, if appropriate, specific allowances are established based on estimates of collateral value. Loans are placed on non-accrual status for first 90 second 30 $1.6 December 31, 2016 2015.
Inventory, Policy [Policy Text Block]	o. Inventories Inventories consist of land, land under development, homes under construction, completed homes and model homes and are stated at cost, net of any impairment charges. We capitalize direct carrying costs, including interest, property taxes and related development costs to inventories. Field construction supervision and related direct overhead are also included in the capitalized cost of inventories. Direct construction costs are specifically identified and allocated to homes while other common costs, such as land, land improvements and carrying costs, are allocated to homes within a community based upon their anticipated relative sales or fair value. We assess the recoverability of real estate inventories in accordance with the provisions of ASC Topic 360, Property, Plant, and Equipment 360"). 360 360
Interest Capitalization, Policy [Policy Text Block]	p. Capitalization of Interest We follow the practice of capitalizing interest to inventories owned during the period of development and to investments in unconsolidated homebuilding and land development joint ventures in accordance with ASC Topic 835, 835"). third 835, December 31, 2016, 2015 2014, 2016, 2015 2014 835. December 31, 2016, 2015 2014: Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Total interest incurred $ 233,225 $ 171,509 $ 153,695 Less: Interest capitalized to inventories owned (229,200 ) (169,233 ) (151,962 ) Less: Interest capitalized to investments in unconsolidated joint ventures (4,025 ) (2,276 ) (1,733 ) Interest expense $ ― $ ― $ ― Interest previously capitalized to inventories owned, included in home cost of home sales $ 170,105 $ 131,611 $ 119,422 Interest previously capitalized to inventories owned, included in land cost of land sales $ 1,596 $ 7,770 $ 3,690 Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures $ 861 $ ― $ 30 Interest capitalized in ending inventories owned (1) $ 365,701 $ 305,459 $ 275,607 Interest capitalized as a percentage of inventories owned 5.7 % 5.0 % 8.5 % Interest capitalized in ending investments in unconsolidated joint ventures (1) $ 3,362 $ 2,941 $ 665 Interest capitalized as a percentage of investments in unconsolidated joint ventures 2.6 % 2.2 % 1.3 % (1) During the years ended December 31, 2016, 2015 2014, $2.7 $0 $6.0
Interest in Unincorporated Joint Ventures or Partnerships, Policy [Policy Text Block]	q. Investments in Unconsolidated Land Development and Homebuilding Joint Ventures Investments in our unconsolidated land development and homebuilding joint ventures are accounted for under the equity method of accounting. Under the equity method, we recognize our proportionate share of earnings and losses generated by the joint venture upon the delivery of lots or homes to third third 50 We review inventory projects within our unconsolidated joint ventures for impairments consistent with our real estate inventories described in Note 2.o.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	r. Goodwill In accordance with ASC Topic 350, Intangibles, Goodwill and Other 350"), two 350 may (1) (2) (3) (4) two 350 may 2016, 3
Income Tax, Policy [Policy Text Block]	s. Income Taxes We account for income taxes in accordance with ASC Topic 740, Income Taxes 740"). 740 We evaluate our deferred tax assets on a quarterly basis to determine whether a valuation allowance is required. In accordance with ASC 740, ASC 740 50%),
Commitments and Contingencies, Policy [Policy Text Block]	t. Insurance and Litigation Accruals Insurance and litigation accruals are established with respect to estimated future claims cost. We maintain general liability insurance designed to protect us against a portion of our risk of loss from construction-related claims. We also generally require our subcontractors and design professionals to indemnify us for liabilities arising from their work, subject to various limitations. However, such indemnity is significantly limited with respect to certain subcontractors that are added to our general liability insurance policy. We record allowances to cover the estimated costs of our self-insurance liability based on an analysis performed by an independent third December 31, 2016, December 31, 2016, December 31, 2015 $83.9 December 31, 2016 2015 $233.5 $209.2
Derivatives, Policy [Policy Text Block]	u. Derivative Instruments and Hedging Activities We account for derivatives and certain hedging activities in accordance with ASC Topic 815, Derivatives and Hedging 815"). 815 Our policy is to designate at a derivative’s inception the specific assets, liabilities or future commitments being hedged and monitor the derivative to determine if the derivative remains an effective hedge. The effectiveness of a derivative as a hedge is based on a high correlation between changes in the derivative’s value and changes in the value of the underlying hedged item. We recognize gains or losses for amounts received or paid when the underlying transaction settles. We do not enter into or hold derivatives for trading or speculative purposes.
Guarantees, Indemnifications and Warranties Policies [Policy Text Block]	v. Accounting for Guarantees We account for guarantees in accordance with the provisions of ASC Topic 460, Guarantees 460"). 460, 460 third December 31, 2016,
New Accounting Pronouncements, Policy [Policy Text Block]	w. Recent Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09"), 2014 09, August 2015, 2015 14, Revenue from Contracts with Customers (Topic 606): 2014 09 one 2014 09 December 15, 2017, 2014 09 2014 09 may In June 2014, 2014 12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period 2014 12"), 718, Compensation — Stock Compensation 2014 12 January 1, 2016 In August 2014, 2014 15, Disclosure of Uncertainties About an Entity's Ability to Continue as a Going Concern 2014 15"), one 2014 15 December 15, 2016, 2014 15 In February 2015, 2015 02, Amendments to the Consolidation Analysis 2015 02"), 2015 02 January 1, 2016 In September 2015, 2015 16, Simplifying the Accounting for Measurement-Period Adjustments 2015 16"), 2015 16 January 1, 2016 In January 2016, 2016 01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities 2016 01"), 820, Fair Value Measurements may 2016 01 December 15, 2017. In March 2016, 2016 02, Leases 2016 02"), 2016 02 12 2016 02 December 15, 2018. In March 2016, 2016 07, Investments- Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting 2016 07"), 2016 07 December 15, 2016. 2016 07 In March 2016, 2016 09, Compensation — Stock Compensation: Improvements to Employee Share-Based Payment Accounting 2016 09"), 2016 09 December 15, 2016. 2016 09 In August 2016, 2016 15, Statement of Cash Flows (Topic 230): 2016 15"). 2016 15 2016 15 December 15, 2017, In November 2016, 2016 18, Statement of Cash Flows (Topic 230): 2016 18”). 2016 18 2016 18 annual periods and interim periods within those annual periods beginning after December 15, 2017, We are currently evaluating the impact adoption will have on our financial statements. In January 2017, 2017 01, Business Combinations: Clarifying the Definition of a Business 2017 01”). 2017 01 ASU 2017 01 December 15, 2017, In January 2017, 2017 04, Intangibles - Goodwill and Other (Topic 350): counting for Goodwill Impairment 2017 04"). 2017 04 2017 04 annual periods and interim periods within those annual periods beginning after December 15, 2019, We are currently evaluating the impact adoption will have on our financial statements.

Note 1 - Company Organization28

Note 1 - Company Organization and Operations (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Percentages of Home Delivered by Region [Table Text Block]	Year Ended December 31, Region 2016 2015 2014 (Unaudited) North 21 % 11 % n/a % Southeast 28 34 38 Southwest 28 26 21 West 23 29 41 Total 100 % 100 % 100 %

Note 2 - Summary of Significa29

Note 2 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Warranty accrual, beginning of the year $ 40,691 $ 13,584 $ 13,811 Warranty accrual assumed with merger ― 25,528 ― Warranty costs accrued during the year 24,092 13,803 7,550 Warranty costs paid during the year (20,851 ) (12,224 ) (7,777 ) Warranty accrual, end of the year $ 43,932 $ 40,691 $ 13,584
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year Ended December 31, 2016 2015 2014 (Dollars in thousands, except per share amounts) Numerator: Net income $ 484,730 $ 213,509 $ 215,865 Less: Net income allocated to preferred shareholder ― (32,997 ) (51,650 ) Less: Net income allocated to unvested restricted stock (1,168 ) (369 ) (297 ) Net income available to common stockholders for basic earnings per common share 483,562 180,143 163,918 Effect of dilutive securities: Net income allocated to preferred shareholder ― 32,997 51,650 Interest on 1.625% convertible senior notes due 2018 2,059 47 n/a Interest on 0.25% convertible senior notes due 2019 1,862 9 n/a Interest on 1.25% convertible senior notes due 2032 1,407 898 899 Net income available to common and preferred stock for diluted earnings per share $ 488,890 $ 214,094 $ 216,467 Denominator: Weighted average basic common shares outstanding 118,212,740 71,713,747 55,737,548 Weighted average additional common shares outstanding if preferred shares converted to common shares (if dilutive) ― 13,135,814 17,562,557 Total weighted average common shares outstanding if preferred shares converted to common shares 118,212,740 84,849,561 73,300,105 Effect of dilutive securities: Share-based awards 666,928 816,459 1,256,964 1.625% convertible senior notes due 2018 7,167,960 1,804,192 n/a 0.25% convertible senior notes due 2019 3,639,150 915,985 n/a 1.25% convertible senior notes due 2032 6,298,207 6,262,570 6,262,570 Weighted average diluted shares outstanding 135,984,985 94,648,767 80,819,639 Income per share: Basic $ 4.09 $ 2.51 $ 2.94 Diluted $ 3.60 $ 2.26 $ 2.68
Schedule of Homebuilding Interest Capitalized [Table Text Block]	Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Total interest incurred $ 233,225 $ 171,509 $ 153,695 Less: Interest capitalized to inventories owned (229,200 ) (169,233 ) (151,962 ) Less: Interest capitalized to investments in unconsolidated joint ventures (4,025 ) (2,276 ) (1,733 ) Interest expense $ ― $ ― $ ― Interest previously capitalized to inventories owned, included in home cost of home sales $ 170,105 $ 131,611 $ 119,422 Interest previously capitalized to inventories owned, included in land cost of land sales $ 1,596 $ 7,770 $ 3,690 Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures $ 861 $ ― $ 30 Interest capitalized in ending inventories owned (1) $ 365,701 $ 305,459 $ 275,607 Interest capitalized as a percentage of inventories owned 5.7 % 5.0 % 8.5 % Interest capitalized in ending investments in unconsolidated joint ventures (1) $ 3,362 $ 2,941 $ 665 Interest capitalized as a percentage of investments in unconsolidated joint ventures 2.6 % 2.2 % 1.3 %

Note 3 - Business Acquisition (

Note 3 - Business Acquisition (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Effect of Merger on Common Stock Outstanding [Table Text Block]	As of Split/Exchange As Adjusted October 1, 2015 Ratio October 1, 2015 Common Stock - Standard Pacific 277,220,324 5 55,444,065 Common Stock - Ryland 46,856,558 1.0191 47,751,518 Accelerated Vesting of Ryland Equity Awards 234,751 1.0191 239,235 Preferred Stock - Standard Pacific 87,812,786 5 17,562,557 Fractional Shares Paid Out ― (1,041 ) Total 412,124,419 120,996,334
Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable [Table Text Block]	Number of shares of CalAtlantic common stock issued to Ryland shareholders 47,989,812 Opening price per share of CalAtlantic common stock $ 40.46 Consideration attributable to common stock 1,941,668 Consideration attributable to CalAtlantic equity awards in exchange for Ryland equity awards 30,616 Total purchase price $ 1,972,284 Cash and cash equivalents $ 268,517 Inventories 2,404,765 Investments in unconsolidated joint ventures 13,821 Deferred income taxes 120,615 Homebuilding other assets 77,124 Financial services assets, excluding cash 144,889 Goodwill 970,185 Total assets 3,999,916 Accounts payable and accrued liabilities (495,425 ) Secured project debt and other notes payables (22,213 ) Senior notes payable (1,291,541 ) Financial services liabilities (124,619 ) Additional paid-in capital (93,834 ) Total purchase price $ 1,972,284
Business Acquisition, Pro Forma Information [Table Text Block]	Year Ended December 31, 2015 2014 (Dollars in thousands, except per share amounts) Home sale revenues $ 5,280,297 $ 4,922,721 Net income $ 321,239 $ 387,123 Income per share: Basic $ 2.65 $ 3.19 Diluted $ 2.32 $ 2.80
Business Acquisition Integration Restructuring and Other Related Costs [Table Text Block]	Year Ended December 31, 2016 2015 (Dollars in thousands) Severance and personnel costs $ 2,444 $ 38,970 Professional service, real estate related, and other expenses 13,586 13,066 Total $ 16,030 $ 52,036

Note 4 - Segment Reporting (Tab

Note 4 - Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Homebuilding revenues: North $ 1,017,063 $ 262,988 $ n/a Southeast 1,559,345 988,773 672,776 Southwest 1,659,477 889,496 495,008 West 2,152,155 1,355,154 1,243,394 Total homebuilding revenues $ 6,388,040 $ 3,496,411 $ 2,411,178 Homebuilding pretax income (1): North $ 80,498 $ 5,556 $ n/a Southeast 130,656 69,726 66,232 Southwest 165,694 70,851 48,958 West 336,654 179,417 224,931 Total homebuilding pretax income $ 713,502 $ 325,550 $ 340,121 Homebuilding income (loss) from unconsolidated joint ventures: North $ 588 $ 78 $ n/a Southeast 435 219 119 Southwest 1,019 159 28 West 2,015 1,510 (815 ) Total homebuilding income (loss) from unconsolidated joint ventures $ 4,057 $ 1,966 $ (668 )
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	December 31, 2016 2015 (Dollars in thousands) Homebuilding assets: North $ 1,181,544 $ 732,689 Southeast 2,253,289 1,766,241 Southwest 1,842,869 1,470,654 West 2,500,163 2,357,597 Corporate (1) 578,780 1,678,072 Total homebuilding assets $ 8,356,645 $ 8,005,253 Homebuilding investments in unconsolidated joint ventures: North $ 5,691 $ 5,634 Southeast 334 313 Southwest 6,085 5,594 West 115,017 121,222 Total homebuilding investments in unconsolidated joint ventures $ 127,127 $ 132,763

Note 5 - Marketable Securitie32

Note 5 - Marketable Securities, Available-for-sale (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	December 31, 2016 December 31, 2015 Amortized Cost Gross Unrealized Losses Estimated Fair Value Amortized Cost Gross Unrealized Gains Estimated Fair Value (Dollars in thousands) Type of security: Municipal bond and metropolitan district securities $ 18,563 $ (465 ) $ 18,098 $ 19,439 $ 5 $ 19,444
Available-for-sale Securities [Table Text Block]	December 31, 2016 (Dollars in thousands) Contractual maturity: Maturing in one year or less $ ― Maturing after three years 18,098 Total marketable securities, available-for-sale $ 18,098

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Inventories Owned [Table Text Block]	December 31, 2016 North Southeast Southwest West Total (Dollars in thousands) Land and land under development (1) $ 445,245 $ 1,177,646 $ 594,585 $ 1,410,264 $ 3,627,740 Homes completed and under construction 327,421 585,938 710,509 680,241 2,304,109 Model homes 79,306 132,968 116,575 178,094 506,943 Total inventories owned $ 851,972 $ 1,896,552 $ 1,421,669 $ 2,268,599 $ 6,438,792 December 31, 2015 North Southeast Southwest West Total (Dollars in thousands) Land and land under development (1) $ 370,584 $ 1,169,350 $ 687,792 $ 1,318,563 $ 3,546,289 Homes completed and under construction 266,967 464,668 599,183 708,779 2,039,597 Model homes 66,100 119,283 113,549 185,141 484,073 Total inventories owned $ 703,651 $ 1,753,301 $ 1,400,524 $ 2,212,483 $ 6,069,959

Note 7 - Investments in Uncon34

Note 7 - Investments in Unconsolidated Land Development and Homebuilding Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Combined Statements of Operations for Unconsolidated Land Development and Homebuilding Joint Ventures [Table Text Block]	Year December 31, 2016 2015 2014 (Dollars in thousands) (Unaudited) Revenues $ 32,422 $ 43,806 $ 39,898 Cost of sales and expenses (3,173 ) (33,587 ) (47,519 ) Income (loss) of unconsolidated joint ventures $ 29,249 $ 10,219 $ (7,621 ) Income (loss) from unconsolidated joint ventures reflected in the accompanying consolidated statements of operations $ 4,057 $ 1,966 $ (668 )
Combined Balance Sheets for Unconsolidated Land Development and Homebuilding Joint Ventures [Table Text Block]	December 31, 2016 2015 (Dollars in thousands) (Unaudited) Assets: Cash $ 23,785 $ 34,893 Inventories 541,191 510,502 Other assets 26,292 14,540 Total assets $ 591,268 $ 559,935 Liabilities and Equity: Accounts payable and accrued liabilities $ 28,947 $ 26,571 Bank debt 31,007 33,704 CalAtlantic equity 140,387 130,750 Other members' equity 390,927 368,910 Total liabilities and equity $ 591,268 $ 559,935 Investments in unconsolidated joint ventures reflected in the accompanying consolidated balance sheets $ 127,127 $ 132,763

Note 8 - Homebuilding Indebte35

Note 8 - Homebuilding Indebtedness (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Debt [Table Text Block]	December 31, 2016 2015 (Dollars in thousands) 10.75% Senior Notes due September 2016 $ ― $ 275,845 8.4% Senior Notes due May 2017 235,175 248,975 8.375% Senior Notes due May 2018 574,501 574,058 1.625% Convertible Senior Notes due May 2018 220,236 301,754 0.25% Convertible Senior Notes due June 2019 253,777 248,098 6.625% Senior Notes due May 2020 319,909 325,882 8.375% Senior Notes due January 2021 395,246 394,152 6.25% Senior Notes due December 2021 297,623 297,148 5.375% Senior Notes due October 2022 249,230 249,096 5.875 % Senior Notes due November 2024 296,982 296,598 5.25 % Senior Notes due June 2026 297,483 ― 1.25% Convertible Senior Notes due August 2032 252,046 250,410 $ 3,392,208 $ 3,462,016
Schedule of Maturities of Long-term Debt [Table Text Block]	Year Ended December 31, (Dollars in thousands) 2017 $ 246,958 2018 809,274 2019 268,399 2020 300,448 2021 700,000 Thereafter 1,103,000 Total principal amount 3,428,079 Less: Net (discount) premium 5,525 Less: Debt issuance costs (13,817 ) Total homebuilding debt $ 3,419,787

Note 11 - Disclosures About F36

Note 11 - Disclosures About Fair Value (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value at December 31, Description Fair Value Hierarchy 2016 2015 (Dollars in thousands) Marketable securities, available-for-sale Municipal debt securities Level 2 $ 9,387 $ 9,734 Metropolitan district bond securities Level 3 $ 8,711 $ 9,710 Mortgage loans held for sale Level 2 $ 265,542 $ 328,835
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	December 31, 2016 December 31, 2015 Description Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value (Dollars in thousands) Financial services assets: Mortgage loans held for investment, net Level 2 $ 24,924 $ 24,924 $ 22,704 $ 22,704 Homebuilding liabilities: Senior and convertible senior notes payable, net Level 2 $ 3,392,208 $ 3,617,838 $ 3,462,016 $ 3,675,276

Note 12 - Commitments and Con37

Note 12 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Year Ended December 31, (Dollars in thousands) 2017 $ 10,104 2018 8,886 2019 7,575 2020 5,643 2021 3,910 Thereafter 4,834 Total rental obligations $ 40,952

Note 13 - Income Taxes (Tables)

Note 13 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Current (provision) benefit for income taxes: Federal $ (223,605 ) $ (83,541 ) $ (28,942 ) State (16,470 ) (6,803 ) (6,159 ) (240,075 ) (90,344 ) (35,101 ) Deferred (provision) benefit for income taxes: Federal (6,128 ) (24,395 ) (84,704 ) State (22,183 ) (14,241 ) (14,294 ) (28,311 ) (38,636 ) (98,998 ) (Provision) benefit for income taxes $ (268,386 ) $ (128,980 ) $ (134,099 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2016 2015 (Dollars in thousands) Inventory valuation adjustments $ 73,353 $ 98,141 Financial accruals 106,862 129,120 Federal net operating loss carryforwards 92,043 97,507 State net operating loss carryforwards 45,607 60,739 Tax credit carryforwards 2,347 1,246 Goodwill impairment charges 3,396 4,287 Other, net 9,226 6,310 Total deferred tax asset 332,834 397,350 Less: Valuation allowance (2,456 ) (1,156 ) Net deferred tax asset $ 330,378 $ 396,194
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Income before taxes $ 753,116 $ 342,489 $ 349,964 (Provision) benefit for income taxes at federal statutory rate $ (263,591 ) $ (119,871 ) $ (122,488 ) (Increases) decreases in tax resulting from: State income taxes, net of federal benefit (24,649 ) (11,680 ) (12,961 ) Net deferred tax asset valuation (allowance) benefit (371 ) 1,405 2,030 (Increases) decreases in liability for unrecognized tax benefits (466 ) (1,611 ) (1,605 ) Nondeductible expenses and credits 364 (2,164 ) ― Domestic production activities deduction 18,324 6,150 1,562 Other, net 2,003 (1,209 ) (637 ) (Provision) benefit for income taxes $ (268,386 ) $ (128,980 ) $ (134,099 ) Effective tax rate 35.6 % 37.7 % 38.3 %
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Balance, beginning of the year $ 10,631 $ 2,536 $ 472 Assumed with Ryland merger ― 6,182 ― Changes based on tax positions related to the current year 2,256 2,060 1,567 Changes for tax position in prior years ― ― 497 Reductions due to lapse of statute of limitations (761 ) (147 ) ― Settlements ― ― ― Balance, end of the year $ 12,126 $ 10,631 $ 2,536

Note 14 - Stock Incentive and39

Note 14 - Stock Incentive and Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block]	2016 2015 2014 Number of Shares Weighted Average Exercise Price Number of Shares Weighted Average Exercise Price Number of Shares Weighted Average Exercise Price Outstanding, beginning of year 4,900,617 $ 33.83 4,418,308 $ 29.19 3,956,373 $ 27.70 Granted ― ― 2,167,150 34.32 1,303,054 39.50 Exercised (408,839 ) 18.61 (1,287,216 ) 14.17 (524,185 ) 18.20 Canceled (484,611 ) 41.34 (397,625 ) 48.61 (316,934 ) 71.20 Outstanding, end of year 4,007,167 $ 34.47 4,900,617 $ 33.83 4,418,308 $ 29.19 Exercisable at end of year 2,789,384 $ 33.32 2,554,114 $ 28.90 1,952,477 $ 19.90 Available for future grant 8,650,219 9,061,407 10,246,013
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	Outstanding Exercisable Exercise Prices Number Weighted Average Exercise Weighted Average Remaining Contractual Number Weighted Average Exercise Low High of Shares Price Life of Shares Price $ 17.88 $ 21.45 1,284,466 $ 19.99 0.97 1,010,466 $ 19.99 $ 28.35 $ 41.16 1,032,006 $ 38.86 3.16 539,446 $ 38.86 $ 41.95 $ 46.45 1,690,695 $ 42.79 2.04 1,239,472 $ 42.79
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	2015 2014 Dividend yield 0.00 % 0.00 % Expected volatility 40.89 % 48.44 % Risk-free interest rate 0.93 % 0.95 % Expected life (years) 3.5 3.5
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	2016 2015 2014 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Outstanding, beginning of year 195,027 $ 41.08 154,143 $ 37.55 107,706 $ 33.60 Granted 329,198 33.16 133,616 41.89 94,590 39.20 Vested (84,044 ) 40.96 (82,293 ) 35.75 (42,310 ) 31.60 Canceled (9,363 ) 37.03 (10,439 ) 41.26 (5,843 ) 33.65 Outstanding, end of year 430,818 $ 35.14 195,027 $ 41.08 154,143 $ 37.55
Schedule of Nonvested Performance-based Units Activity [Table Text Block]	2016 2015 2014 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Outstanding, beginning of year 198,759 $ 47.63 166,031 $ 36.20 120,448 $ 29.05 Granted 319,798 30.36 348,756 30.46 45,583 55.05 Vested (50,429 ) 41.95 (316,028 ) 22.68 ― ― Canceled ― ― ― ― ― ― Outstanding, end of year 468,128 $ 36.45 198,759 $ 47.63 166,031 $ 36.20
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Stock options and stock appreciation rights $ 3,309 $ 8,709 $ 3,618 Unrestricted stock grants 780 555 480 Restricted stock grants 4,359 3,261 1,842 Performance share awards 9,346 3,099 2,529 Total $ 17,794 $ 15,624 $ 8,469
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block]	As of December 31, 2016 2015 2014 Unrecognized Expense Weighted Average Period (years) Unrecognized Expense Weighted Average Period (years) Unrecognized Expense Weighted Average Period (years) (Dollars in thousands) Unvested stock options and stock appreciation rights $ 3,255 1.3 $ 7,216 2.1 $ 6,777 2.1 Unvested restricted stock grants 11,146 2.2 5,850 2.1 4,090 2.1 Unvested performance share awards 13,409 2.0 5,117 2.0 3,267 1.7 Total unrecognized compensation expense $ 27,810 2.0 $ 18,183 2.0 $ 14,134 2.0

Note 16 - Results of Quarterl40

Note 16 - Results of Quarterly Operations (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Quarterly Financial Information [Table Text Block]	First Quarter Second Quarter Third Quarter Fourth Quarter Total (1) (Dollars in thousands, except per share amounts) 2016: Revenues $ 1,203,235 $ 1,598,901 $ 1,692,391 $ 1,982,208 $ 6,476,735 Homebuilding gross margin $ 247,188 $ 341,357 $ 374,692 $ 427,393 $ 1,390,630 Net income $ 72,661 $ 112,760 $ 132,348 $ 166,961 $ 484,730 Basic income per common share $ 0.60 $ 0.95 $ 1.12 $ 1.44 $ 4.09 Diluted income per common share $ 0.52 $ 0.83 $ 0.97 $ 1.25 $ 3.60 2015: Revenues $ 475,671 $ 707,044 $ 659,200 $ 1,698,198 $ 3,540,113 Homebuilding gross margin $ 114,105 $ 171,941 $ 159,756 $ 330,669 $ 776,471 Net income $ 31,605 $ 57,198 $ 47,177 $ 77,529 $ 213,509 Basic income per common share $ 0.45 $ 0.80 $ 0.65 $ 0.64 $ 2.51 Diluted income per common share $ 0.40 $ 0.70 $ 0.59 $ 0.56 $ 2.26

Note 17 - Supplemental Disclo41

Note 17 - Supplemental Disclosures to Consolidated Statements of Cash Flows (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Year Ended December 31, 2016 2015 2014 (Dollars in thousands) Supplemental Disclosures of Cash Flow Information: Cash paid during the period for: Interest $ 220,198 $ 180,536 $ 141,527 Income taxes $ 226,959 $ 81,949 $ 7,297 Supplemental Disclosure of Noncash Activities: Increase in assets in connection with merger $ ― $ 2,798,739 $ ― Liabilities assumed in connection with business combinations $ ― $ 2,028,332 $ 3,659 Increase in secured project debt related to seller financed inventory purchases $ 25,124 $ ― $ ― Changes in inventories not owned $ 18,550 $ 34,589 $ 14,074 Changes in liabilities from inventories not owned $ 18,550 $ 17,099 $ 14,074

Note 18 - Supplemental Guaran42

Note 18 - Supplemental Guarantor Information (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Tables
Supplemental Condensed Consolidating Statements of Operations [Table Text Block]	Year Ended December 31, 2016 CalAtlantic Group, Inc. Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) Homebuilding: Revenues $ 2,674,122 $ 2,629,329 $ 1,084,589 $ ― $ 6,388,040 Cost of sales (2,131,342 ) (2,099,621 ) (766,447 ) ― (4,997,410 ) Gross margin 542,780 529,708 318,142 ― 1,390,630 Selling, general and administrative expenses (278,972 ) (310,492 ) (74,995 ) ― (664,459 ) Income (loss) from unconsolidated joint ventures 355 594 3,108 ― 4,057 Equity income of subsidiaries 330,815 ― ― (330,815 ) ― Interest income (expense), net 4,708 (3,578 ) (1,130 ) ― ― Other income (expense) (15,238 ) (2,064 ) 576 ― (16,726 ) Homebuilding pretax income 584,448 214,168 245,701 (330,815 ) 713,502 Financial Services: Financial services pretax income ― ― 39,614 ― 39,614 Income before taxes 584,448 214,168 285,315 (330,815 ) 753,116 Provision for income taxes (99,718 ) (92,267 ) (76,401 ) ― (268,386 ) Net income $ 484,730 $ 121,901 $ 208,914 $ (330,815 ) $ 484,730 Year Ended December 31, 2015 CalAtlantic Group, Inc. Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) Homebuilding: Revenues $ 1,234,750 $ 1,500,676 $ 787,707 $ (26,722 ) $ 3,496,411 Cost of sales (989,834 ) (1,194,605 ) (562,223 ) 26,722 (2,719,940 ) Gross margin 244,916 306,071 225,484 ― 776,471 Selling, general and administrative expenses (145,458 ) (185,779 ) (59,473 ) ― (390,710 ) Income (loss) from unconsolidated joint ventures 540 269 1,157 ― 1,966 Equity income of subsidiaries 201,261 ― ― (201,261 ) ― Interest income (expense), net 12,388 (9,374 ) (3,014 ) ― ― Other income (expense) (57,629 ) (2,678 ) (1,870 ) ― (62,177 ) Homebuilding pretax income 256,018 108,509 162,284 (201,261 ) 325,550 Financial Services: Financial services pretax income ― ― 16,939 ― 16,939 Income before taxes 256,018 108,509 179,223 (201,261 ) 342,489 Provision for income taxes (42,509 ) (49,512 ) (36,959 ) ― (128,980 ) Net income $ 213,509 $ 58,997 $ 142,264 $ (201,261 ) $ 213,509 Year Ended December 31, 2014 CalAtlantic Group, Inc. Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) Homebuilding: Revenues $ 813,423 $ 1,025,404 $ 572,351 $ ― $ 2,411,178 Cost of sales (599,911 ) (779,578 ) (413,306 ) ― (1,792,795 ) Gross margin 213,512 245,826 159,045 ― 618,383 Selling, general and administrative expenses (101,020 ) (131,068 ) (43,773 ) ― (275,861 ) Income (loss) from unconsolidated joint ventures (71 ) 88 (685 ) ― (668 ) Equity income of subsidiaries 155,943 ― ― (155,943 ) ― Interest income (expense), net 13,718 (11,497 ) (2,221 ) ― ― Other income (expense) (3,954 ) (469 ) 2,690 ― (1,733 ) Homebuilding pretax income 278,128 102,880 115,056 (155,943 ) 340,121 Financial Services: Financial services pretax income ― ― 9,843 ― 9,843 Income before taxes 278,128 102,880 124,899 (155,943 ) 349,964 Provision for income taxes (62,263 ) (40,469 ) (31,367 ) ― (134,099 ) Net income $ 215,865 $ 62,411 $ 93,532 $ (155,943 ) $ 215,865
Supplemental Condensed Consolidating Balance Sheets [Table Text Block]	December 31, 2016 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) ASSETS Homebuilding: Cash and equivalents $ 105,261 $ 38,211 $ 47,614 $ ― $ 191,086 Restricted cash ― ― 28,321 ― 28,321 Intercompany receivables 2,045,773 ― 334,926 (2,380,699 ) ― Inventories: Owned 2,825,234 2,277,840 1,335,718 ― 6,438,792 Not owned 30,953 32,596 2,718 ― 66,267 Investments in unconsolidated joint ventures 4,469 4,923 117,735 ― 127,127 Investments in subsidiaries 1,954,418 ― ― (1,954,418 ) ― Deferred income taxes, net 337,021 ― ― (6,643 ) 330,378 Goodwill 970,185 ― ― ― 970,185 Other assets 165,214 36,725 2,550 ― 204,489 Total Homebuilding Assets 8,438,528 2,390,295 1,869,582 (4,341,760 ) 8,356,645 Financial Services: Cash and equivalents ― ― 17,041 ― 17,041 Restricted cash ― ― 21,710 ― 21,710 Mortgage loans held for sale, net ― ― 262,058 ― 262,058 Mortgage loans held for investment, net ― ― 24,924 ― 24,924 Other assets ― ― 28,467 (1,801 ) 26,666 Total Financial Services Assets ― ― 354,200 (1,801 ) 352,399 Total Assets $ 8,438,528 $ 2,390,295 $ 2,223,782 $ (4,343,561 ) $ 8,709,044 LIABILITIES AND EQUITY Homebuilding: Accounts payable $ 92,611 $ 78,729 $ 40,440 $ ― $ 211,780 Accrued liabilities and intercompany payables 387,098 1,302,228 964,796 (2,054,217 ) 599,905 Secured project debt and other notes payable 359,025 ― 3,480 (334,926 ) 27,579 Senior notes payable 3,392,208 ― ― ― 3,392,208 Total Homebuilding Liabilities 4,230,942 1,380,957 1,008,716 (2,389,143 ) 4,231,472 Financial Services: Accounts payable and other liabilities ― ― 22,559 ― 22,559 Mortgage credit facilities ― ― 247,427 ― 247,427 Total Financial Services Liabilities ― ― 269,986 ― 269,986 Total Liabilities 4,230,942 1,380,957 1,278,702 (2,389,143 ) 4,501,458 Equity: Total Equity 4,207,586 1,009,338 945,080 (1,954,418 ) 4,207,586 Total Liabilities and Equity $ 8,438,528 $ 2,390,295 $ 2,223,782 $ (4,343,561 ) $ 8,709,044 December 31, 2015 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) ASSETS Homebuilding: Cash and equivalents $ 6,387 $ 112,852 $ 31,837 $ ― $ 151,076 Restricted cash ― ― 35,990 ― 35,990 Intercompany receivables 2,380,899 ― 152,505 (2,533,404 ) ― Inventories: Owned 2,524,927 2,304,305 1,240,727 ― 6,069,959 Not owned 32,393 38,925 11,928 ― 83,246 Investments in unconsolidated joint ventures 5,353 4,330 123,080 ― 132,763 Investments in subsidiaries 1,644,453 ― ― (1,644,453 ) ― Deferred income taxes, net 405,945 ― ― (9,751 ) 396,194 Goodwill 933,360 ― ― ― 933,360 Other assets 151,475 48,027 3,163 ― 202,665 Total Homebuilding Assets 8,085,192 2,508,439 1,599,230 (4,187,608 ) 8,005,253 Financial Services: Cash and equivalents ― ― 35,518 ― 35,518 Restricted cash ― ― 22,914 ― 22,914 Mortgage loans held for sale, net ― ― 325,770 ― 325,770 Mortgage loans held for investment, net ― ― 22,704 ― 22,704 Other assets ― ― 18,886 (1,643 ) 17,243 Total Financial Services Assets ― ― 425,792 (1,643 ) 424,149 Total Assets $ 8,085,192 $ 2,508,439 $ 2,025,022 $ (4,189,251 ) $ 8,429,402 LIABILITIES AND EQUITY Homebuilding: Accounts payable $ 91,873 $ 82,906 $ 16,902 $ ― $ 191,681 Accrued liabilities and intercompany payables 499,700 1,538,096 903,761 (2,378,867 ) 562,690 Secured project debt and other notes payable 170,167 ― 4,061 (148,545 ) 25,683 Senior notes payable 3,462,016 ― ― ― 3,462,016 Total Homebuilding Liabilities 4,223,756 1,621,002 924,724 (2,527,412 ) 4,242,070 Financial Services: Accounts payable and other liabilities ― ― 39,860 (17,386 ) 22,474 Mortgage credit facilities ― ― 303,422 ― 303,422 Total Financial Services Liabilities ― ― 343,282 (17,386 ) 325,896 Total Liabilities 4,223,756 1,621,002 1,268,006 (2,544,798 ) 4,567,966 Equity: Total Equity 3,861,436 887,437 757,016 (1,644,453 ) 3,861,436 Total Liabilities and Equity $ 8,085,192 $ 2,508,439 $ 2,025,022 $ (4,189,251 ) $ 8,429,402
Supplemental Condensed Consolidating Statements of Cash Flows [Table Text Block]	Year Ended December 31, 2016 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) Cash Flows From Operating Activities: Net cash provided by (used in) operating activities $ 35,434 $ 120,540 $ 166,340 $ ― $ 322,314 Cash Flows From Investing Activities: Investments in unconsolidated homebuilding joint ventures (276 ) (227 ) (28,615 ) ― (29,118 ) Distributions of capital from unconsolidated homebuilding joint ventures 1,104 336 38,295 ― 39,735 Loan to parent and subsidiaries ― ― (187,300 ) 187,300 ― Other investing activities (616 ) (3,496 ) (3,576 ) ― (7,688 ) Net cash provided by (used in) investing activities 212 (3,387 ) (181,196 ) 187,300 2,929 Cash Flows From Financing Activities: Change in restricted cash ― ― 8,873 ― 8,873 Borrowing from revolving credit facility 1,433,200 ― ― ― 1,433,200 Principal payments on revolving credit facility (1,433,200 ) ― ― ― (1,433,200 ) Principal payments on secured project debt and other notes payable (22,647 ) ― (581 ) ― (23,228 ) Loan from subsidiary 187,300 ― ― (187,300 ) ― Principal payments on senior notes payable (280,000 ) ― ― ― (280,000 ) Proceeds from the issuance of senior notes payable 300,000 ― ― ― 300,000 Payment of debt issuance costs (2,669 ) ― ― ― (2,669 ) Net proceeds from (payments on) mortgage credit facilities ― ― (55,995 ) ― (55,995 ) (Contributions to) distributions from Corporate and subsidiaries 20,850 ― (20,850 ) ― ― Repurchases of common stock (232,520 ) ― ― ― (232,520 ) Common stock dividend payments (18,841 ) ― ― ― (18,841 ) Issuance of common stock under employee stock plans, net of withholdings 1,330 ― ― ― 1,330 Excess tax benefit (provision) from share-based payment arrangements (460 ) ― ― ― (460 ) Other financing activities ― (200 ) ― ― (200 ) Intercompany advances, net 110,885 (191,594 ) 80,709 ― ― Net cash provided by (used in) financing activities 63,228 (191,794 ) 12,156 (187,300 ) (303,710 ) Net increase (decrease) in cash and equivalents 98,874 (74,641 ) (2,700 ) ― 21,533 Cash and equivalents at beginning of year 6,387 112,852 67,355 ― 186,594 Cash and equivalents at end of year $ 105,261 $ 38,211 $ 64,655 $ ― $ 208,127 Year Ended December 31, 2015 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) Cash Flows From Operating Activities: Net cash provided by (used in) operating activities $ (17,201 ) $ (107,470 ) $ (146,690 ) $ ― $ (271,361 ) Cash Flows From Investing Activities: Investments in unconsolidated homebuilding joint ventures ― ― (91,453 ) ― (91,453 ) Distributions of capital from unconsolidated homebuilding joint ventures 641 75 18,866 ― 19,582 Cash acquired in connection with merger 20,345 238,034 10,138 ― 268,517 Loan to parent and subsidiaries ― ― 34,000 (34,000 ) ― Other investing activities 9 (4,310 ) (7,671 ) ― (11,972 ) Net cash provided by (used in) investing activities 20,995 233,799 (36,120 ) (34,000 ) 184,674 Cash Flows From Financing Activities: Change in restricted cash ― ― 652 ― 652 Borrowing from revolving credit facility 852,700 ― ― ― 852,700 Principal payments on revolving credit facility (852,700 ) ― ― ― (852,700 ) Principal payments on secured project debt and other notes payable (1,893 ) ― (639 ) ― (2,532 ) Loan from subsidiary 46,000 ― ― (46,000 ) ― Principal payments on senior notes payable (29,789 ) ― ― ― (29,789 ) Payment of debt issuance costs (1,016 ) ― ― ― (1,016 ) Net proceeds from (payments on) mortgage credit facilities ― ― 30,469 80,000 110,469 (Contributions to) distributions from Corporate and subsidiaries 13,873 (31,719 ) 17,846 ― ― Repurchases of common stock (22,073 ) ― ― ― (22,073 ) Common stock dividend payments (4,851 ) ― ― ― (4,851 ) Issuance of common stock under employee stock plans, net of withholdings 1,000 ― ― ― 1,000 Excess tax benefit (provision) from share-based payment arrangements 9,250 ― ― ― 9,250 Other financing activities ― (95 ) (127 ) ― (222 ) Intercompany advances, net (141,212 ) 17,276 123,936 ― ― Net cash provided by (used in) financing activities (130,711 ) (14,538 ) 172,137 34,000 60,888 Net increase (decrease) in cash and equivalents (126,917 ) 111,791 (10,673 ) ― (25,799 ) Cash and equivalents at beginning of year 133,304 1,061 78,028 ― 212,393 Cash and equivalents at end of year $ 6,387 $ 112,852 $ 67,355 $ ― $ 186,594 Year Ended December 31, 2014 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic Group, Inc. (Dollars in thousands) Cash Flows From Operating Activities: Net cash provided by (used in) operating activities $ (56,158 ) $ (118,941 ) $ (187,298 ) $ ― $ (362,397 ) Cash Flows From Investing Activities: Investments in unconsolidated homebuilding joint ventures ― ― (10,506 ) ― (10,506 ) Distributions of capital from unconsolidated homebuilding joint ventures 227 228 17,555 ― 18,010 Net cash paid for acquisitions ― (36,047 ) 2,277 ― (33,770 ) Loan to parent and subsidiaries ― ― (180,000 ) 180,000 ― Other investing activities (1,571 ) (1,351 ) (1,832 ) ― (4,754 ) Net cash provided by (used in) investing activities (1,344 ) (37,170 ) (172,506 ) 180,000 (31,020 ) Cash Flows From Financing Activities: Change in restricted cash ― ― (16,762 ) ― (16,762 ) Principal payments on secured project debt and other notes payable ― ― (1,458 ) ― (1,458 ) Loan from subsidiary 100,000 ― ― (100,000 ) ― Principal payments on senior notes payable (4,971 ) ― ― ― (4,971 ) Proceeds from the issuance of senior notes payable 300,000 ― ― ― 300,000 Payment of debt issuance costs (6,230 ) ― ― ― (6,230 ) Net proceeds from (payments on) mortgage credit facilities ― ― 68,546 (80,000 ) (11,454 ) (Contributions to) distributions from Corporate and subsidiaries 8,350 ― (8,350 ) ― ― Repurchases of common stock (36,781 ) ― ― ― (36,781 ) Issuance of common stock under employee stock plans, net of withholdings 6,771 ― ― ― 6,771 Excess tax benefit (provision) from share-based payment arrangements 13,404 ― ― ― 13,404 Intercompany advances, net (365,026 ) 156,678 208,348 ― ― Net cash provided by (used in) financing activities 15,517 156,678 250,324 (180,000 ) 242,519 Net increase (decrease) in cash and equivalents (41,985 ) 567 (109,480 ) ― (150,898 ) Cash and equivalents at beginning of year 175,289 494 187,508 ― 363,291 Cash and equivalents at end of year $ 133,304 $ 1,061 $ 78,028 $ ― $ 212,393

Note 1 - Company Organization43

Note 1 - Company Organization and Operations - Percentages of Homes Delivered by Region (Details)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Region	100.00%	100.00%	100.00%
Homebuilding: North [Member]
Region	21.00%	11.00%
Homebuilding Southeast [Member]
Region	28.00%	34.00%	38.00%
Homebuilding Southwest [Member]
Region	28.00%	26.00%	21.00%
Homebuilding: West [Member]
Region	23.00%	29.00%	41.00%

Note 2 - Summary of Significa44

Note 2 - Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Number of Reportable Segments	4
Available-for-sale Securities, Gross Unrealized Gain	$ 523,000
Realized Investment Gains (Losses)	695,000
Cash and Cash Equivalents, at Carrying Value	208,127,000	$ 186,594,000	$ 212,393,000	$ 363,291,000
Allowance for Loan and Lease Losses, Real Estate	1,600,000	1,600,000
Capitalized Interest Transferred from Investments in Unconsolidated Joint Ventures to Inventories Owned	2,700,000	0	6,000,000
Insurance and Litigation Accruals	233,500,000	209,200,000
Standard and Extended Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties	0	0	$ 0
Goodwill, Impairment Loss	0
December 31, 2015 [Member] | Reclassification from Self-Insurance Liability to Other Assets [Member]
Prior Period Reclassification Adjustment	83,900,000
Homebuilding [Member]
Cash and Cash Equivalents, at Carrying Value	191,086,000	151,076,000
Restricted Cash and Cash Equivalents	28,321,000	35,990,000
Financial Services [Member]
Cash and Cash Equivalents, at Carrying Value	17,041,000	35,518,000
Restricted Cash and Cash Equivalents	21,710,000	$ 22,914,000
Cash From Home Closings in Escrow [Member]
Cash and Cash Equivalents, at Carrying Value	150,300,000
Held in Cash Collateral Accounts [Member] | Homebuilding [Member]
Restricted Cash and Cash Equivalents	28,300,000
Held in Cash Collateral Accounts [Member] | Financial Services [Member]
Restricted Cash and Cash Equivalents	17,700,000
Financial Service Subsidiary Mortgage Credit Facilities [Member] | Financial Services [Member]
Restricted Cash and Cash Equivalents	3,000,000
Funds Held in Trust for Third Parties [Member] | Financial Services [Member]
Restricted Cash and Cash Equivalents	$ 1,000,000

Note 2 - Summary of Significa45

Note 2 - Summary of Significant Accounting Policies - Warranty Costs Accrual (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Warranty accrual, beginning of the year	$ 40,691	$ 13,584	$ 13,811
Warranty accrual assumed with merger	0	25,528
Warranty costs accrued during the year	24,092	13,803	7,550
Warranty costs paid during the year	(20,851)	(12,224)	(7,777)
Warranty accrual, end of the year	$ 43,932	$ 40,691	$ 13,584

Note 2 - Summary of Significa46

Note 2 - Summary of Significant Accounting Policies - Components Used in Computation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								11 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 13, 2014	Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Net income	$ 166,961	$ 132,348	$ 112,760	$ 72,661	$ 77,529	$ 47,177	$ 57,198	$ 31,605	$ 215,865	$ 484,730	[1]	$ 213,509	[1]	$ 215,865
Less: Net income allocated to preferred shareholder									(51,650)			(32,997)		(51,650)
Less: Net income allocated to unvested restricted stock									(297)	(1,168)		(369)		(297)
Net income available to common stockholders for basic earnings per common share									163,918	483,562		180,143		163,918
Effect of dilutive securities:
Net income allocated to preferred shareholder									$ 51,650			32,997		51,650
Net income available to common and preferred stock for diluted earnings per share										$ 488,890		$ 214,094		$ 216,467
Basic (in shares)									55,737,548	118,212,740		71,713,747		55,737,548
Weighted average additional common shares outstanding if preferred shares converted to common shares (if dilutive) (in shares)												13,135,814		17,562,557
Total weighted average common shares outstanding if preferred shares converted to common shares (in shares)										118,212,740		84,849,561		73,300,105
Share-based awards (in shares)										666,928		816,459		1,256,964
Weighted average diluted shares outstanding (in shares)									80,819,639	135,984,985		94,648,767		80,819,639
Income per common share:
Basic income per common share (in dollars per share)	$ 1.44	$ 1.12	$ 0.95	$ 0.60	$ 0.64	$ 0.65	$ 0.80	$ 0.45	$ 2.94	$ 4.09	[1]	$ 2.51	[1]	$ 2.94
Diluted income per common share (in dollars per share)	$ 1.25	$ 0.97	$ 0.83	$ 0.52	$ 0.56	$ 0.59	$ 0.70	$ 0.40	$ 2.68	$ 3.60	[1]	$ 2.26	[1]	$ 2.68
1.625% Convertible Senior Notes due May 2018 [Member]
Effect of dilutive securities:
Interest on convertible senior notes										$ 2,059		$ 47
Interest on convertible senior notes (in shares)										7,167,960		1,804,192
0.25% Convertible Senior Notes Due June 2019 [Member]
Effect of dilutive securities:
Interest on convertible senior notes										$ 1,862		$ 9
Interest on convertible senior notes (in shares)										3,639,150		915,985
1.25% Convertible Senior Notes Due August 2032 [Member]
Effect of dilutive securities:
Interest on convertible senior notes										$ 1,407		$ 898		$ 899
Interest on convertible senior notes (in shares)										6,298,207		6,262,570		6,262,570
[1]	Per share amounts do not add across due to rounding differences in quarterly amounts and due to the impact of differences between the quarterly and annual weighted average share calculations.

Note 2 - Summary of Significa47

Note 2 - Summary of Significant Accounting Policies - Interest Capitalized (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Total interest incurred		$ 233,225	$ 171,509	$ 153,695
Less: Interest capitalized to inventories owned		(229,200)	(169,233)	(151,962)
Less: Interest capitalized to investments in unconsolidated joint ventures		(4,025)	(2,276)	(1,733)
Interest expense		0	0	0
Interest previously capitalized to inventories owned, included in home cost of home sales		170,105	131,611	119,422
Interest previously capitalized to inventories owned, included in land cost of land sales		1,596	7,770	3,690
Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures		861	0	30
Interest capitalized in ending inventories owned (1)	[1]	$ 365,701	$ 305,459	$ 275,607
Interest capitalized as a percentage of inventories owned		5.70%	5.00%	8.50%
Interest capitalized in ending investments in unconsolidated joint ventures (1)		$ 3,362	$ 2,941	$ 665	[1]
Interest capitalized as a percentage of investments in unconsolidated joint ventures		2.60%	2.20%	1.30%
[1]	During the years ended December 31, 2016, 2015 and 2014, in connection with lot purchases from our joint ventures, $2.7 million, $0 and $6.0 million, respectively, of capitalized interest was transferred from investments in unconsolidated joint ventures to inventories owned.

Note 3 - Business Acquisition48

Note 3 - Business Acquisition (Details Textual) $ / shares in Units, $ in Thousands	Oct. 01, 2015USD ($)$ / shares	Dec. 31, 2015USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Number of Reportable Segments				4
1.625% Convertible Senior Notes due May 2018 [Member]
Debt Instrument, Interest Rate, Stated Percentage				1.625%
The Ryland Group, Inc. [Member]
Business Acquisitions Equity to Common Stock Conversion Ratio	1.0191
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	$ 1,972,284
Share Price | $ / shares	$ 40.46
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 30,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Conversion Feature	93,834
Goodwill	$ 970,185			$ 970,200
Business Acqusition, Goodwill, Projection Period				10 years
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual		$ 772,300
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual		$ 1,800
The Ryland Group, Inc. [Member] | 1.625% Convertible Senior Notes due May 2018 [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Conversion Feature				$ 93,800
Goodwill, Subsequent Recognition of Deferred Tax Asset			$ (35,900)
The Ryland Group, Inc. [Member] | Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	5

Note 3 - Business Acquisitions

Note 3 - Business Acquisitions - Components of Common Stock Outstanding Immediately Following the Merger (Details)	Oct. 01, 2015shares
Before Stock Split [Member]
Shares Outstanding (in shares)	412,124,419
After Stock Split [Member]
Shares Outstanding (in shares)	120,996,334
Fractional Shares Paid Out [Member] | After Stock Split [Member]
Shares Outstanding (in shares)	(1,041)
Standard Pacific [Member]
Split/Exchange Ratio	5
Standard Pacific [Member] | Before Stock Split [Member]
Shares Outstanding (in shares)	87,812,786
Standard Pacific [Member] | After Stock Split [Member]
Shares Outstanding (in shares)	17,562,557
Standard Pacific [Member] | Common Stock [Member]
Split/Exchange Ratio	5
Standard Pacific [Member] | Common Stock [Member] | Before Stock Split [Member]
Shares Outstanding (in shares)	277,220,324
Standard Pacific [Member] | Common Stock [Member] | After Stock Split [Member]
Shares Outstanding (in shares)	55,444,065
The Ryland Group, Inc. [Member] | Common Stock [Member]
Split/Exchange Ratio	1.0191
The Ryland Group, Inc. [Member] | Common Stock [Member] | Before Stock Split [Member]
Shares Outstanding (in shares)	46,856,558
The Ryland Group, Inc. [Member] | Common Stock [Member] | After Stock Split [Member]
Shares Outstanding (in shares)	47,751,518
The Ryland Group, Inc. [Member] | Accelerated Vesting of Equity Awards [Member] | Ryland Group, Inc [Member]
Split/Exchange Ratio	1.0191
The Ryland Group, Inc. [Member] | Accelerated Vesting of Equity Awards [Member] | Before Stock Split [Member] | Ryland Group, Inc [Member]
Shares Outstanding (in shares)	234,751
The Ryland Group, Inc. [Member] | Accelerated Vesting of Equity Awards [Member] | After Stock Split [Member] | Ryland Group, Inc [Member]
Shares Outstanding (in shares)	239,235

Note 3 - Business Acquisition50

Note 3 - Business Acquisitions - Purchase Price Allocation (Details) - The Ryland Group, Inc. [Member] - USD ($) $ / shares in Units, $ in Thousands	Oct. 01, 2015	Dec. 31, 2016
Number of shares of CalAtlantic common stock issued to Ryland shareholders (in shares)	47,989,812
Opening price per share of CalAtlantic common stock (in dollars per share)	$ 40.46
Consideration	$ 30,600
Total purchase price	1,972,284
Cash and cash equivalents	268,517
Inventories	2,404,765
Investments in unconsolidated joint ventures	13,821
Deferred income taxes	120,615
Homebuilding other assets	77,124
Financial services assets, excluding cash	144,889
Goodwill	970,185	$ 970,200
Total assets	3,999,916
Accounts payable and accrued liabilities	(495,425)
Secured project debt and other notes payables	(22,213)
Senior notes payable	(1,291,541)
Financial services liabilities	(124,619)
Additional paid-in capital	(93,834)
Total purchase price	1,972,284
Common Stock [Member]
Consideration	1,941,668
Equity Awards Exchanged for Acquisition Equity Awards [Member]
Consideration	$ 30,616

Note 3 - Business Acquisition -

Note 3 - Business Acquisition - Summary of Unaudited Supplemental Pro Forma Operating Results (Details) - The Ryland Group, Inc. [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Home sale revenues	$ 5,280,297	$ 4,922,721
Net income	$ 321,239	$ 387,123
Income per common share:
Basic (in dollars per share)	$ 2.65	$ 3.19
Diluted (in dollars per share)	$ 2.32	$ 2.80

Note 3 - Business Acquisition52

Note 3 - Business Acquisitions - Acquisition and Integration Expenses Related to the Merger (Details) - The Ryland Group, Inc. [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Severance and personnel costs	$ 2,444	$ 38,970
Professional service, real estate related, and other expenses	13,586	13,066
Total	$ 16,030	$ 52,036

Note 4 - Segment Reporting (Det

Note 4 - Segment Reporting (Details Textual)	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Number of Operating Segments	2
Number of Reportable Segments	4
Homebuilding [Member]
Goodwill	$ 970,185,000	$ 933,360,000
Homebuilding [Member] | North [Member]
Depreciation, Depletion and Amortization, Nonproduction	6,500,000	1,500,000	$ 0
Homebuilding [Member] | Southeast [Member]
Depreciation, Depletion and Amortization, Nonproduction	16,000,000	10,100,000	6,500,000
Homebuilding [Member] | Southwest [Member]
Depreciation, Depletion and Amortization, Nonproduction	12,100,000	6,600,000	4,000,000
Homebuilding [Member] | West [Member]
Depreciation, Depletion and Amortization, Nonproduction	27,000,000	$ 22,800,000	$ 16,700,000
North, Southeast and Southwest [Member]
Goodwill	300,000,000
West [Member]
Goodwill	$ 100,000,000

Note 4 - Segment Reporting - Se

Note 4 - Segment Reporting - Segment Financial Information Relating to Homebuilding Operations (Details) - USD ($) $ in Thousands		11 Months Ended	12 Months Ended
		Dec. 13, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Homebuilding revenues		$ 2,411,178	$ 6,388,040	$ 3,496,411	$ 2,411,178
Homebuilding pretax income		340,121	713,502	325,550	340,121
Homebuilding income (loss) from unconsolidated joint ventures		$ (668)	4,057	1,966	(668)
Homebuilding [Member]
Homebuilding revenues			6,388,040	3,496,411	2,411,178
Homebuilding pretax income	[1]		713,502	325,550	340,121
Homebuilding income (loss) from unconsolidated joint ventures			4,057	1,966	(668)
Homebuilding [Member] | North [Member]
Homebuilding revenues			1,017,063	262,988	0
Homebuilding pretax income	[1]		80,498	5,556	0
Homebuilding income (loss) from unconsolidated joint ventures			588	78	0
Homebuilding [Member] | Southeast [Member]
Homebuilding revenues			1,559,345	988,773	672,776
Homebuilding pretax income	[1]		130,656	69,726	66,232
Homebuilding income (loss) from unconsolidated joint ventures			435	219	119
Homebuilding [Member] | Southwest [Member]
Homebuilding revenues			1,659,477	889,496	495,008
Homebuilding pretax income	[1]		165,694	70,851	48,958
Homebuilding income (loss) from unconsolidated joint ventures			1,019	159	28
Homebuilding [Member] | West [Member]
Homebuilding revenues			2,152,155	1,355,154	1,243,394
Homebuilding pretax income	[1]		336,654	179,417	224,931
Homebuilding income (loss) from unconsolidated joint ventures			$ 2,015	$ 1,510	$ (815)
[1]	Homebuilding pretax income includes depreciation and amortization expense of $6.5 million, $16.0 million, $12.1 million and $27.0 million in the North, Southeast, Southwest and West, respectively, for the year ended December 31, 2016; $1.5 million, $10.1 million, $6.6 million and $22.8 million in the North, Southeast, Southwest and West, respectively, for the year ended December 31, 2015; and $0 million, $6.5 million, $4.0 million and $16.7 million in the North, Southeast, Southwest and West, respectively, for the year ended December 31, 2014.

Note 4 - Segment Reporting - 55

Note 4 - Segment Reporting - Segment Financial Information Relating to Homebuilding Assets and Investments in Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
Assets		$ 8,709,044	$ 8,429,402
Homebuilding investments in unconsolidated joint ventures		127,127	132,763
Homebuilding [Member]
Assets		8,356,645	8,005,253
Homebuilding investments in unconsolidated joint ventures		127,127	132,763
Homebuilding [Member] | Corporate, Non-Segment [Member]
Assets	[1]	578,780	1,678,072
Homebuilding [Member] | North [Member]
Assets		1,181,544	732,689
Homebuilding investments in unconsolidated joint ventures		5,691	5,634
Homebuilding [Member] | Southeast [Member]
Assets		2,253,289	1,766,241
Homebuilding investments in unconsolidated joint ventures		334	313
Homebuilding [Member] | Southwest [Member]
Assets		1,842,869	1,470,654
Homebuilding investments in unconsolidated joint ventures		6,085	5,594
Homebuilding [Member] | West [Member]
Assets		2,500,163	2,357,597
Homebuilding investments in unconsolidated joint ventures		$ 115,017	$ 121,222
[1]	The assets in our Corporate Segment include cash and cash equivalents and our deferred tax asset, and at December 31, 2015 included $0.9 billion of goodwill recorded in connection with our merger with Ryland. During the 2016 second quarter, recorded goodwill was allocated to the Company’s reporting units (as of December 31, 2016, approximately $0.3 billion was included in each of the North, Southeast and Southwest segments, and approximately $0.1 billion was included in the West segment).

Note 5 - Marketable Securitie56

Note 5 - Marketable Securities, Available-for-sale (Details Textual)	12 Months Ended
	Dec. 31, 2016USD ($)
Realized Investment Gains (Losses)	$ 695,000

Note 5 - Marketable Securitie57

Note 5 - Marketable Securities, Available-for-sale - Fair Values of Marketable Securities by Type of Security (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Municipal debt securities	$ 18,098
Municipal Bond and Metropolitan District Securities [Member]
Amortized cost	18,563	$ 19,439
Gross Unrealized Losses	(465)
Municipal debt securities	$ 18,098	19,444
Gross Unrealized Gains		$ 5

Note 5 - Marketable Securitie58

Note 5 - Marketable Securities, Available-for-sale - Fair Values of Marketable Securities by Contractual Maturity (Details) $ in Thousands	Dec. 31, 2016USD ($)
Maturing in one year or less	$ 0
Maturing after three years	18,098
Total marketable securities, available-for-sale	$ 18,098

Note 6 - Inventories (Details T

Note 6 - Inventories (Details Textual) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2014USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Inventory, Real Estate, Land and Land Development Costs, Land Purchased During Period		$ 960,800
Inventory, Real Estate, Number of Homesites Purchased During the Period		13,566
Number of Active and Future Projects Owned		797	903	368
Impairment of Real Estate		$ 0	$ 0	$ 0
Number of Current Future Communities Acquired During Period	10
Acquisition of Current and Future Communities [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other	$ 1,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	4,200
Business Acquisition, Transaction Costs	300
Real Estate Inventories Owned, Not Associated with an Acquisition [Member]
Inventory, Real Estate, Land and Land Development Costs, Land Purchased During Period			$ 515,300
Inventory, Real Estate, Number of Homesites Purchased During the Period			6,631
Real Estate Inventories Owned, Associated with a Business Acquisition [Member]
Inventory, Real Estate, Number of Homesites Purchased During the Period			40,245
Inventory Owned [Member] | Acquisition of Current and Future Communities [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	31,500
Inventory Not Owned [Member] | Acquisition of Current and Future Communities [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	$ 4,900
Homebuilding: North [Member]
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category		25.00%
Homebuilding: North [Member] | Real Estate Inventories Owned, Not Associated with an Acquisition [Member]
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category			12.00%
Homebuilding Southeast [Member]
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category		25.00%
Homebuilding Southeast [Member] | Real Estate Inventories Owned, Not Associated with an Acquisition [Member]
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category			39.00%
Homebuilding Southwest [Member]
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category		24.00%
Homebuilding Southwest [Member] | Real Estate Inventories Owned, Not Associated with an Acquisition [Member]
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category			18.00%
Homebuilding: West [Member]
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category		26.00%
Homebuilding: West [Member] | Real Estate Inventories Owned, Not Associated with an Acquisition [Member]
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category			31.00%

Note 6 - Inventories - Inventor

Note 6 - Inventories - Inventories Owned (Details) - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
Land and land under development	[1]	$ 3,627,740	$ 3,546,289
Homes completed and under construction		2,304,109	2,039,597
Model homes		506,943	484,073
Total inventories owned		6,438,792	6,069,959
Homebuilding: North [Member]
Land and land under development	[1]	445,245	370,584
Homes completed and under construction		327,421	266,967
Model homes		79,306	66,100
Total inventories owned		851,972	703,651
Homebuilding Southeast [Member]
Land and land under development	[1]	1,177,646	1,169,350
Homes completed and under construction		585,938	464,668
Model homes		132,968	119,283
Total inventories owned		1,896,552	1,753,301
Homebuilding Southwest [Member]
Land and land under development	[1]	594,585	687,792
Homes completed and under construction		710,509	599,183
Model homes		116,575	113,549
Total inventories owned		1,421,669	1,400,524
Homebuilding: West [Member]
Land and land under development	[1]	1,410,264	1,318,563
Homes completed and under construction		680,241	708,779
Model homes		178,094	185,141
Total inventories owned		$ 2,268,599	$ 2,212,483
[1]	During the year ended December 31, 2016, we purchased $960.8 million of land (13,566 homesites), of which 25% (based on homesites) were located in the North, 25% in the Southeast, 24% in the Southwest, and 26% in the West. During the year ended December 31, 2015, we purchased $515.3 million of land (6,631 homesites) and acquired an additional 40,245 homesites as a result of the merger with Ryland. The homesites we purchased during 2015, other than through the merger, were located as follows: 12% (based on homesites) were located in the North, 39% in the Southeast, 18% in the Southwest, and 31% in the West. Disclosures of homesite count, including the percentage of homesites located within a specific region, included in these notes to consolidated financial statements are presented on an unaudited basis.

Note 7 - Investments in Uncon61

Note 7 - Investments in Unconsolidated Land Development and Homebuilding Joint Ventures (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Asset Impairment Charges	$ 1,000	$ 0	$ 0
Interest Capitalized in Ending Investments in Unconsolidated Joint Ventures	$ 3,362	$ 2,941	$ 665	[1]
[1]	During the years ended December 31, 2016, 2015 and 2014, in connection with lot purchases from our joint ventures, $2.7 million, $0 and $6.0 million, respectively, of capitalized interest was transferred from investments in unconsolidated joint ventures to inventories owned.

Note 7 - Investments in Uncon62

Note 7 - Investments in Unconsolidated Land Development and Homebuilding Joint Ventures - Combined Statements of Operations for Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Dec. 13, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues		$ 32,422	$ 43,806	$ 39,898
Cost of sales and expenses		(3,173)	(33,587)	(47,519)
Income (loss) of unconsolidated joint ventures		29,249	10,219	(7,621)
Income (loss) from unconsolidated joint ventures reflected in the accompanying consolidated statements of operations	$ (668)	$ 4,057	$ 1,966	$ (668)

Note 7 - Investments in Uncon63

Note 7 - Investments in Unconsolidated Land Development and Homebuilding Joint Ventures - Combined Balance Sheets for Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets:
Cash	$ 23,785	$ 34,893
Inventories	541,191	510,502
Other assets	26,292	14,540
Total assets	591,268	559,935
Liabilities and Equity:
Accounts payable and accrued liabilities	28,947	26,571
Equity Method Investment, Summarized Financial Information, Non-recourse Debt	31,007	33,704
CalAtlantic equity	140,387	130,750
Other members' equity	390,927	368,910
Total liabilities and equity	591,268	559,935
Investments in unconsolidated joint ventures reflected in the accompanying consolidated balance sheets	$ 127,127	$ 132,763

Note 8 - Homebuilding Indebte64

Note 8 - Homebuilding Indebtedness (Details Textual)	3 Months Ended	12 Months Ended
	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)$ / shares	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Cash Collateral Deposits		$ 27,100,000
Proceeds from Issuance of Senior Long-term Debt		300,000,000		$ 300,000,000
Repayments of Senior Debt		$ 280,000,000	$ 29,789,000	$ 4,971,000
Debt, Weighted Average Interest Rate		5.70%	6.10%	7.20%
Homebuilding [Member]
Secured Debt		$ 27,579,000	$ 25,683,000
1.625% Convertible Senior Notes due May 2018 [Member]
Debt Instrument, Interest Rate, Stated Percentage		1.625%
Debt Instrument, Convertible, Conversion Ratio		31.8576
Debt Instrument, Convertible Principal Amount used in Conversion Rate Calculation		$ 1,000
Debt Instrument, Convertible, Conversion Price | $ / shares		$ 31.39
0.25% Convertible Senior Notes Due June 2019 [Member]
Debt Instrument, Interest Rate, Stated Percentage		0.25%
Debt Instrument, Convertible, Conversion Ratio		13.6043
Debt Instrument, Convertible Principal Amount used in Conversion Rate Calculation		$ 1,000
Debt Instrument, Convertible, Conversion Price | $ / shares		$ 73.51
Debt Instrument, Convertible, Threshold Consecutive Trading Days		30 days
Debt Instrument, Convertible, Condition of Redemption, Stock Price Threshold, Trading Period, Number of Trading Days, Number of Trading Days Immediately Preceding the Date On Which Notice of Redemption is Provided		5 days
Debt Instrument, Convertible, Condition of Redemption, Stock Price Threshold		130.00%
Debt Instrument, Redemption Price, Percentage		100.00%
1.25% Convertible Senior Notes Due August 2032 [Member]
Debt Instrument, Interest Rate, Stated Percentage		1.25%
Debt Instrument, Convertible, Conversion Ratio		24.8941
Debt Instrument, Convertible Principal Amount used in Conversion Rate Calculation		$ 1,000
Debt Instrument, Convertible, Conversion Price | $ / shares		$ 40.17
Debt Instrument, Redemption Price, Percentage		100.00%
5.25% Senior Notes due June 2026 [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.25%
Proceeds from Issuance of Senior Long-term Debt	$ 300,000,000
Repayments of Senior Debt	$ 280,000,000
Letter of Credit [Member]
Line of Credit Facility, Current Borrowing Capacity		$ 350,000,000
Letters of Credit Outstanding, Amount		112,100,000
Line of Credit Facility, Remaining Borrowing Capacity		637,900,000
Four Committed Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity		48,000,000
Letters of Credit Outstanding, Amount		26,700,000
Letter of Credit Facility, Matured in January 2017 [Member]
Line of Credit Facility, Maximum Borrowing Capacity		15,000,000
Letters of Credit Outstanding, Amount		7,200,000
Unsecured Revolving Credit Facility [Member]
Line of Credit Facility, Current Borrowing Capacity		750,000,000
Line of Credit Facility, Maximum Borrowing Capacity		1,200,000,000
Line of Credit Facility Covenant, Minimum Tangible Net Worth Requirement		$ 1,650,000,000
Line of Credit Facility Covenant, Maximum Leverage Ratio		2
Line of Credit Facility Covenant, Minimum Interest Coverage Ratio		1.25
Long-term Line of Credit		$ 0
Unsecured Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		0.77%
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		1.75%
Unsecured Revolving Credit Facility [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		3.75%
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		0.75%

Note 8 - Homebuilding Indebte65

Note 8 - Homebuilding Indebtedness - Senior Notes Payable (Details) - Homebuilding [Member] - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Senior Notes	$ 3,392,208	$ 3,462,016
10.75% Senior Notes Due September 2016 [Member]
Senior Notes	0	275,845
8.4% Senior Notes Due May 2017 [Member]
Senior Notes	235,175	248,975
8.375% Senior Notes Due May 2018 [Member]
Senior Notes	574,501	574,058
1.625% Convertible Senior Notes due May 2018 [Member]
Senior Notes	220,236	301,754
0.25% Convertible Senior Notes Due June 2019 [Member]
Senior Notes	253,777	248,098
6.625% Senior Notes due May 2020 [Member]
Senior Notes	319,909	325,882
8.375% Senior Notes Due January 2021 [Member]
Senior Notes	395,246	394,152
6.25% Senior Notes Due December 15, 2021 [Member]
Senior Notes	297,623	297,148
5.375% Senior Notes Due October 2022 [Member]
Senior Notes	249,230	249,096
5.875% Senior Notes Due November 2024 [Member]
Senior Notes	296,982	296,598
5.25% Senior Notes due June 2026 [Member]
Senior Notes	297,483	0
1.25% Convertible Senior Notes Due August 2032 [Member]
Senior Notes	$ 252,046	$ 250,410

Note 8 - Homebuilding Indebte66

Note 8 - Homebuilding Indebtedness - Maturities of Senior and Convertible Senior Notes Payable (Details) $ in Thousands	Dec. 31, 2016USD ($)
2,017	$ 246,958
2,018	809,274
2,019	268,399
2,020	300,448
2,021	700,000
Thereafter	1,103,000
Total principal amount	3,428,079
Less: Net (discount) premium	5,525
Less: Debt issuance costs	(13,817)
Total homebuilding debt	$ 3,419,787

Note 9 - Preferred Stock (Detai

Note 9 - Preferred Stock (Details Textual) - shares	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015	Oct. 01, 2015	Sep. 30, 2015
Common Stock, Shares, Outstanding	114,429,297		121,286,153
Preferred Stock, Shares Outstanding	0		0
Owned by Matlin Patterson [Member]
Common Stock, Shares, Outstanding	42,800,000				126,400,000
Outstanding Common Stock Ownership Percentage	37.00%				59.00%
Convertible Preferred Stock, Shares Issued upon Conversion				17,600,000
Owned by Matlin Patterson [Member] | Series B Preferred Stock [Member]
Preferred Stock, Shares Outstanding		0

Note 10 - Mortgage Credit Fac68

Note 10 - Mortgage Credit Facility (Details Textual) - Financial Services [Member] - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Warehouse Agreement Borrowings	$ 247,427	$ 303,422
Standard Pacific [Member]
Cash Collateral for Borrowed Securities	3,000
Repurchase Facility [Member] | First Lender [Member] | Maturing January 2017 [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 300,000

Note 11 - Disclosures About F69

Note 11 - Disclosures About Fair Value (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)
Fair Value Inputs, Average Selling Price of Homes	$ 0.4
Minimum [Member]
Fair Value Inputs, Discount Rate	5.00%
Maximum [Member]
Fair Value Inputs, Discount Rate	12.00%

Note 11 - Disclosures About F70

Note 11 - Disclosures About Fair Value - Fair Value of Mortgage Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Marketable securities, available-for-sale
Municipal debt securities	$ 18,098
Fair Value, Inputs, Level 2 [Member]
Marketable securities, available-for-sale
Mortgage loans held for sale	265,542	$ 328,835
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member]
Marketable securities, available-for-sale
Municipal debt securities	9,387	9,734
Fair Value, Inputs, Level 3 [Member] | Metropolitan District Bond Securities [Member]
Marketable securities, available-for-sale
Municipal debt securities	$ 8,711	$ 9,710

Note 11 - Disclosures About F71

Note 11 - Disclosures About Fair Value - Carrying Values and Estimated Fair Value of Other Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Financial Services [Member]
Mortgage loans held for investment, net	$ 24,924	$ 22,704
Homebuilding [Member]
Senior notes payable	3,392,208	3,462,016
Fair Value, Inputs, Level 2 [Member] | Financial Services [Member]
Mortgage loans held for investment, net	24,924	22,704
Senior notes payable	24,924	22,704
Fair Value, Inputs, Level 2 [Member] | Homebuilding [Member]
Senior and convertible senior notes payable, net	3,392,208	3,462,016
Senior and convertible senior notes payable, net	$ 3,617,838	$ 3,675,276

Note 12 - Commitments and Con72

Note 12 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Nonrefundable Cash Deposits	$ 59,900
Capitalized Preacquisition and Other Development and Construction Costs	13,100
Remaining Purchase Price of Land Purchase and Option Contracts	$ 744,700
Number of Joint Ventures the Company Holds Membership Interest In	27
Number of Active Joint Ventures	13
Number of Inactive Joint Ventures	14
Equity Method Investment, Summarized Financial Information, Non-recourse Debt	$ 31,007	$ 33,704
Outstanding Surety Bonds	892,100
Surety Bonds Cost to Complete	445,100
Mortgage Loans in Process	$ 275,900
Mortgage Loans in Process, Interest Rate	3.70%
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage	$ 261,800
Mortgage Loans Committed to Sell to Investors	26,900
Mortgage Loan Loss Expense Provision	100	300	$ 500
Mortgage Loan Repurchase Reserve	3,600	3,900
Mortgage Loan Repurchase Payments	400	100	500
Operating Leases, Rent Expense	10,800	$ 6,500	$ 4,400
Closed Mortgage Loans Held for Sale [Member]
Mortgage Loans Expected to be Originated on a Non-presold Basis	$ 249,000

Note 12 - Commitments and Con73

Note 12 - Commitments and Contingencies - Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2016USD ($)
2,017	$ 10,104
2,018	8,886
2,019	7,575
2,020	5,643
2,021	3,910
Thereafter	4,834
Total rental obligations	$ 40,952

Note 13 - Income Taxes (Details

Note 13 - Income Taxes (Details Textual) - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Dec. 13, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Deferred Tax Assets, Gross		$ 332,834	$ 397,350
Deferred Tax Assets, Valuation Allowance		2,456	1,156
Gross Annual Deduction Limitation on Net Operating Loss Carryforwards		15,600	15,600
Deferred Tax assets, Inventory Impairment and Financial Accruals		195,100
Income Tax Expense (Benefit)	$ 134,099	268,386	128,980	$ 134,099
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$ 349,964	$ 753,116	342,489	349,964
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		35.00%
Unrecognized Tax Benefits		$ 12,126	10,631	2,536	$ 472
Unrecognized Tax Benefits that Would Impact Effective Tax Rate		7,900
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued		1,400	1,300
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense		100	1,000	$ 300
Domestic Tax Authority [Member]
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration		263,000	278,600
State and Local Jurisdiction [Member]
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration		1,300,000	1,200,000
Subject to Federal and State Net Operating Loss Carryforward Limitations [Member]
Deferred Tax Assets, Operating Loss Carryforwards		103,900	112,600
Deferred Tax Assets, Operating Loss Carryforwards, Domestic, Before Tax		263,000	278,600
Deferred Tax Assets, Operating Loss Carryforwards, State and Local, Before Tax		285,700	263,100
Subject to 382 Limitations [Member]
Deferred Tax Assets, Operating Loss Carryforwards		21,700
Deferred Tax Assets, Operating Loss Carryforwards, State and Local, Before Tax		798,100,000
Not Limited by Section 382 [Member]
Deferred Tax Assets, Operating Loss Carryforwards		12,000	$ 45,600
Deferred Tax Assets, Operating Loss Carryforwards, State and Local, Before Tax		$ 168,500

Note 13 - Income Taxes - (Provi

Note 13 - Income Taxes - (Provision) Benefit for Income Taxes (Details) - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Dec. 13, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current (provision) benefit for income taxes:
Federal		$ (223,605)	$ (83,541)	$ (28,942)
State		(16,470)	(6,803)	(6,159)
		(240,075)	(90,344)	(35,101)
Deferred (provision) benefit for income taxes:
Federal		6,128	24,395	84,704
State		22,183	14,241	14,294
		(28,311)	(38,636)	(98,998)
(Provision) benefit for income taxes	$ (134,099)	$ (268,386)	$ (128,980)	$ (134,099)

Note 13 - Income Taxes - Compon

Note 13 - Income Taxes - Components of Net Deferred Income Tax Asset (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Inventory valuation adjustments	$ 73,353	$ 98,141
Financial accruals	106,862	129,120
Federal net operating loss carryforwards	92,043	97,507
State net operating loss carryforwards	45,607	60,739
Tax credit carryforwards	2,347	1,246
Goodwill impairment charges	3,396	4,287
Other, net	9,226	6,310
Total deferred tax asset	332,834	397,350
Less: Valuation allowance	(2,456)	(1,156)
Net deferred tax asset	$ 330,378	$ 396,194

Note 13 - Income Taxes - Income

Note 13 - Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Dec. 13, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income before taxes	$ 349,964	$ 753,116	$ 342,489	$ 349,964
(Provision) benefit for income taxes at federal statutory rate		(263,591)	(119,871)	(122,488)
State income taxes, net of federal benefit		(24,649)	(11,680)	(12,961)
Net deferred tax asset valuation (allowance) benefit		(371)	1,405	2,030
(Increases) decreases in liability for unrecognized tax benefits		(466)	(1,611)	(1,605)
Nondeductible expenses and credits		364	(2,164)
Domestic production activities deduction		18,324	6,150	1,562
Other, net		2,003	(1,209)	(637)
(Provision) benefit for income taxes	$ (134,099)	$ (268,386)	$ (128,980)	$ (134,099)
Effective tax rate		35.60%	37.70%	38.30%

Note 13 - Income Taxes - Unreco

Note 13 - Income Taxes - Unrecognized Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Balance, beginning of the year	$ 10,631	$ 2,536	$ 472
Assumed with Ryland merger	0	6,182
Changes based on tax positions related to the current year	2,256	2,060	1,567
Changes for tax position in prior years	0	0	497
Reductions due to lapse of statute of limitations	(761)	(147)
Settlements	0	0
Balance, end of the year	$ 12,126	$ 10,631	$ 2,536

Note 14 - Stock Incentive and79

Note 14 - Stock Incentive and Employee Benefit Plans (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount	$ 7,000
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 10,200,000	$ 4,700,000	$ 3,600,000
Independent Directors [Member]
Stock Issued During Period, Shares, Share-based Compensation, Gross	22,710	13,498	12,174
Employee Stock Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	5 years
Employee Stock Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	329,198	133,616	94,590
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	0	2,200,000	1,300,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options Value Per Share Cap	$ 20
Stock Appreciation Rights (SARs) [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	5 years
Stock Appreciation Rights (SARs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Stock Options and Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options and Equity Instruments Other than Options, Vested and Expected to Vest, Number	3,853,751
Share-based Compensation Arrangement by Share-based Payment Award, Options and Equity Instruments Other than Options, Vested and Expected to Vest, Weighted Average Exercise Price	$ 34.19
Share-based Compensation Arrangement by Share-based Payment Award, Options and Equity Instruments Other than Options, Vested and Expected to Vest, Weighted Average Remaining Contractual Term	1 year 339 days
Share-based Compensation Arrangement by Share-based Payment Award, Options and Equity Instruments Other than Options, Vested and Expected to Vest, Fair Value	$ 3,200,000	$ 5,000,000	$ 2,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	5,700,000	$ 37,500,000	$ 12,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	18,100,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	14,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$ 18,100,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 5.30	$ 4.95

Note 14 - Stock Incentive and80

Note 14 - Stock Incentive and Employee Benefit Plans - Stock Option and Stock Appreciation Rights Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Outstanding, Number (in shares)	4,900,617	4,418,308	3,956,373
Outstanding, Weighted average exrecise price (in dollars per share)	$ 33.83	$ 29.19	$ 27.70
Granted, Number (in shares)	0	2,167,150	1,303,054
Granted, Weighted average exrecise price (in dollars per share)		$ 34.32	$ 39.50
Exercised, Number (in shares)	(408,839)	(1,287,216)	(524,185)
Exercised, Weighted average exrecise price (in dollars per share)	$ 18.61	$ 14.17	$ 18.20
Canceled, Number (in shares)	(484,611)	(397,625)	(316,934)
Canceled, Weighted average exrecise price (in dollars per share)	$ 41.34	$ 48.61	$ 71.20
Outstanding, Number (in shares)	4,007,167	4,900,617	4,418,308
Outstanding, Weighted average exrecise price (in dollars per share)	$ 34.47	$ 33.83	$ 29.19
Exercisable at end of year, Number (in shares)	2,789,384	2,554,114	1,952,477
Exercisable at end of year, Weighted average exrecise price (in dollars per share)	$ 33.32	$ 28.90	$ 19.90
Available for future grant, Number (in shares)	8,650,219	9,061,407	10,246,013

Note 14 - Stock Incentive and81

Note 14 - Stock Incentive and Employee Benefit Plans - Stock Options and Stock Appreciation Rights by Exercise Price Range (Details)	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Range 1 [Member]
Exercise price, low (in dollars per share)	$ 17.88
Exercise price, high (in dollars per share)	$ 21.45
Number of shares (in shares) | shares	1,284,466
Weighted average exercise price (in dollars per share)	$ 19.99
Weighted average remaining contractual life (Year)	354 days
Exercisable shares (in shares) | shares	1,010,466
Weighted average exercise price, exercisable (in dollars per share)	$ 19.99
Range 2 [Member]
Exercise price, low (in dollars per share)	28.35
Exercise price, high (in dollars per share)	$ 41.16
Number of shares (in shares) | shares	1,032,006
Weighted average exercise price (in dollars per share)	$ 38.86
Weighted average remaining contractual life (Year)	3 years 58 days
Exercisable shares (in shares) | shares	539,446
Weighted average exercise price, exercisable (in dollars per share)	$ 38.86
Range 3 [Member]
Exercise price, low (in dollars per share)	41.95
Exercise price, high (in dollars per share)	$ 46.45
Number of shares (in shares) | shares	1,690,695
Weighted average exercise price (in dollars per share)	$ 42.79
Weighted average remaining contractual life (Year)	2 years 14 days
Exercisable shares (in shares) | shares	1,239,472
Weighted average exercise price, exercisable (in dollars per share)	$ 42.79

Note 14 - Stock Incentive and82

Note 14 - Stock Incentive and Employee Benefit Plans - Fair Value Assumptions (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Dividend yield	0.00%	0.00%
Expected volatility	40.89%	48.44%
Risk-free interest rate	0.93%	0.95%
Expected life (years) (Year)	3 years 182 days	3 years 182 days

Note 14 - Stock Incentive and83

Note 14 - Stock Incentive and Employee Benefit Plans - Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Restricted stock outstanding, beginning of year (in shares)	195,027	154,143	107,706
Restricted stock outstanding, beginning of year (in dollars per share)	$ 41.08	$ 37.55	$ 33.60
Restricted stock granted (in shares)	329,198	133,616	94,590
Restricted stock granted (in dollars per share)	$ 33.16	$ 41.89	$ 39.20
Restricted stock vested (in shares)	(84,044)	(82,293)	(42,310)
Restricted stock vested (in dollars per share)	$ 40.96	$ 35.75	$ 31.60
Restricted stock canceled (in shares)	(9,363)	(10,439)	(5,843)
Restricted stock canceled (in dollars per share)	$ 37.03	$ 41.26	$ 33.65
Restricted stock outstanding, end of year (in shares)	430,818	195,027	154,143
Restricted stock outstanding, end of year (in dollars per share)	$ 35.14	$ 41.08	$ 37.55

Note 14 - Stock Incentive and84

Note 14 - Stock Incentive and Employee Benefit Plans - Performance Share Awar (Details) - Performance Shares [Member] - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Restricted stock outstanding, beginning of year (in shares)	198,759	166,031	120,448
Restricted stock outstanding, beginning of year (in dollars per share)	$ 47.63	$ 36.20	$ 29.05
Granted, Number (in shares)	319,798	348,756	45,583
Granted, Weighted average grant date fair value (in dollars per share)	$ 30.36	$ 30.46	$ 55.05
Vested, Number (in shares)	(50,429)	(316,028)	0
Vested, Weighted average grant date fair value (in dollars per share)	$ 41.95	$ 22.68	$ 0
Vested, Number (in shares)	50,429	316,028	0
Canceled, Number (in shares)	0	0	0
Canceled, Weighted average grant date fair value (in dollars per share)	$ 0	$ 0	$ 0
Restricted stock outstanding, end of year (in shares)	468,128	198,759	166,031
Restricted stock outstanding, end of year (in dollars per share)	$ 36.45	$ 47.63	$ 36.20

Note 14 - Stock Incentive and85

Note 14 - Stock Incentive and Employee Benefit Plans - Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Compensation expense recognized	$ 17,794	$ 15,624	$ 8,469
Stock Options and Stock Appreciation Rights [Member]
Compensation expense recognized	3,309	8,709	3,618
Unrestricted Stock Grants [Member]
Compensation expense recognized	780	555	480
Restricted Stock [Member]
Compensation expense recognized	4,359	3,261	1,842
Performance Shares [Member]
Compensation expense recognized	$ 9,346	$ 3,099	$ 2,529

Note 14 - Stock Incentive and86

Note 14 - Stock Incentive and Employee Benefit Plans - Unrecognized Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Unrecognized expense	$ 27,810	$ 18,183	$ 14,134
Weighted average period (Year)	2 years	2 years	2 years
Stock Options and Stock Appreciation Rights [Member]
Unrecognized expense	$ 3,255	$ 7,216	$ 6,777
Weighted average period (Year)	1 year 109 days	2 years 36 days	2 years 36 days
Restricted Stock [Member]
Unrecognized expense	$ 11,146	$ 5,850	$ 4,090
Weighted average period (Year)	2 years 73 days	2 years 36 days	2 years 36 days
Performance Shares [Member]
Unrecognized expense	$ 13,409	$ 5,117	$ 3,267
Weighted average period (Year)	2 years	2 years	1 year 255 days

Note 15 - Stockholder Rights 87

Note 15 - Stockholder Rights Plan (Details Textual)	12 Months Ended
	Dec. 31, 2016$ / shares
Number of Preferred Stock Purchase Right Granted Per Common Share	1
Beneficial Ownership Threshold	15.00%
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 100
Percentage of Discount on Then Current Market Value	50.00%
Redemption Rate Per Right	$ 0.005
Expiration of Rights After Separation From Common Shares	3 years

Note 16 - Results of Quarterl88

Note 16 - Results of Quarterly Operations (Unaudited) - Quarterly Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								11 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 13, 2014	Dec. 31, 2016	[1]	Dec. 31, 2015	[1]	Dec. 31, 2014
Revenues	$ 1,982,208	$ 1,692,391	$ 1,598,901	$ 1,203,235	$ 1,698,198	$ 659,200	$ 707,044	$ 475,671		$ 6,476,735		$ 3,540,113
Homebuilding gross margin	427,393	374,692	341,357	247,188	330,669	159,756	171,941	114,105	$ 618,383	1,390,630		776,471		$ 618,383
Net income	$ 166,961	$ 132,348	$ 112,760	$ 72,661	$ 77,529	$ 47,177	$ 57,198	$ 31,605	$ 215,865	$ 484,730		$ 213,509		$ 215,865
Basic income per common share (in dollars per share)	$ 1.44	$ 1.12	$ 0.95	$ 0.60	$ 0.64	$ 0.65	$ 0.80	$ 0.45	$ 2.94	$ 4.09		$ 2.51		$ 2.94
Diluted income per common share (in dollars per share)	$ 1.25	$ 0.97	$ 0.83	$ 0.52	$ 0.56	$ 0.59	$ 0.70	$ 0.40	$ 2.68	$ 3.60		$ 2.26		$ 2.68
[1]	Per share amounts do not add across due to rounding differences in quarterly amounts and due to the impact of differences between the quarterly and annual weighted average share calculations.

Note 17 - Supplemental Disclo89

Note 17 - Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows - Supplemental Disclosures of Cash Flows Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Supplemental Disclosures of Cash Flow Information:
Interest	$ 220,198	$ 180,536	$ 141,527
Income taxes	226,959	81,949	7,297
Increase in assets in connection with merger		2,798,739
Liabilities assumed in connection with business combinations		2,028,332	3,659
Increase in secured project debt related to seller financed inventory purchases	25,124
Changes in inventories not owned	18,550	34,589	14,074
Changes in liabilities from inventories not owned	$ 18,550	$ 17,099	$ 14,074

Note 18 - Supplemental Guaran90

Note 18 - Supplemental Guarantor Information - Condensed Consolidating Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended								11 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 13, 2014	Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Homebuilding revenues									$ 2,411,178	$ 6,388,040		$ 3,496,411		$ 2,411,178
Cost of sales									(1,792,795)	(4,997,410)		(2,719,940)		(1,792,795)
Homebuilding gross margin	$ 427,393	$ 374,692	$ 341,357	$ 247,188	$ 330,669	$ 159,756	$ 171,941	$ 114,105	618,383	1,390,630	[1]	776,471	[1]	618,383
Selling, general and administrative expenses									(275,861)	(664,459)		(390,710)		(275,861)
Homebuilding income (loss) from unconsolidated joint ventures									(668)	4,057		1,966		(668)
Equity income of subsidiaries
Interest income (expense), net
Other income (expense)									(1,733)	(16,726)		(62,177)		(1,733)
Homebuilding pretax income									340,121	713,502		325,550		340,121
Financial services pretax income									9,843	39,614		16,939		9,843
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest									349,964	753,116		342,489		349,964
(Provision) benefit for income taxes									(134,099)	(268,386)		(128,980)		(134,099)
Net income	$ 166,961	$ 132,348	$ 112,760	$ 72,661	$ 77,529	$ 47,177	$ 57,198	$ 31,605	$ 215,865	484,730	[1]	213,509	[1]	215,865
Consolidation, Eliminations [Member]
Homebuilding revenues												(26,722)
Cost of sales												26,722
Homebuilding gross margin
Selling, general and administrative expenses
Homebuilding income (loss) from unconsolidated joint ventures
Equity income of subsidiaries										(330,815)		(201,261)		(155,943)
Interest income (expense), net
Other income (expense)
Homebuilding pretax income										(330,815)		(201,261)		(155,943)
Financial services pretax income
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest										(330,815)		(201,261)		(155,943)
(Provision) benefit for income taxes
Net income										(330,815)		(201,261)		(155,943)
Parent Company [Member] | Reportable Legal Entities [Member]
Homebuilding revenues										2,674,122		1,234,750		813,423
Cost of sales										(2,131,342)		(989,834)		(599,911)
Homebuilding gross margin										542,780		244,916		213,512
Selling, general and administrative expenses										(278,972)		(145,458)		(101,020)
Homebuilding income (loss) from unconsolidated joint ventures										355		540		(71)
Equity income of subsidiaries										330,815		201,261		155,943
Interest income (expense), net										4,708		12,388		13,718
Other income (expense)										(15,238)		(57,629)		(3,954)
Homebuilding pretax income										584,448		256,018		278,128
Financial services pretax income
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest										584,448		256,018		278,128
(Provision) benefit for income taxes										(99,718)		(42,509)		(62,263)
Net income										484,730		213,509		215,865
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Homebuilding revenues										2,629,329		1,500,676		1,025,404
Cost of sales										(2,099,621)		(1,194,605)		(779,578)
Homebuilding gross margin										529,708		306,071		245,826
Selling, general and administrative expenses										(310,492)		(185,779)		(131,068)
Homebuilding income (loss) from unconsolidated joint ventures										594		269		88
Equity income of subsidiaries
Interest income (expense), net										(3,578)		(9,374)		(11,497)
Other income (expense)										(2,064)		(2,678)		(469)
Homebuilding pretax income										214,168		108,509		102,880
Financial services pretax income
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest										214,168		108,509		102,880
(Provision) benefit for income taxes										(92,267)		(49,512)		(40,469)
Net income										121,901		58,997		62,411
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Homebuilding revenues										1,084,589		787,707		572,351
Cost of sales										(766,447)		(562,223)		(413,306)
Homebuilding gross margin										318,142		225,484		159,045
Selling, general and administrative expenses										(74,995)		(59,473)		(43,773)
Homebuilding income (loss) from unconsolidated joint ventures										3,108		1,157		(685)
Equity income of subsidiaries
Interest income (expense), net										(1,130)		(3,014)		(2,221)
Other income (expense)										576		(1,870)		2,690
Homebuilding pretax income										245,701		162,284		115,056
Financial services pretax income										39,614		16,939		9,843
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest										285,315		179,223		124,899
(Provision) benefit for income taxes										(76,401)		(36,959)		(31,367)
Net income										$ 208,914		$ 142,264		$ 93,532
[1]	Per share amounts do not add across due to rounding differences in quarterly amounts and due to the impact of differences between the quarterly and annual weighted average share calculations.

Note 18 - Supplemental Guaran91

Note 18 - Supplemental Guarantor Information - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash and Cash Equivalents, at Carrying Value	$ 208,127	$ 186,594	$ 212,393	$ 363,291
Owned	6,438,792	6,069,959
Homebuilding investments in unconsolidated joint ventures	127,127	132,763
Deferred income taxes, net	330,378	396,194
Assets	8,709,044	8,429,402
Total liabilities	4,501,458	4,567,966
Total Equity	4,207,586	3,861,436
Total Liabilities and Equity	8,709,044	8,429,402
Consolidation, Eliminations [Member]
Cash and Cash Equivalents, at Carrying Value
Assets	(4,343,561)	(4,189,251)
Total liabilities	(2,389,143)	(2,544,798)
Total Equity	(1,954,418)	(1,644,453)
Total Liabilities and Equity	(4,343,561)	(4,189,251)
Parent Company [Member] | Reportable Legal Entities [Member]
Cash and Cash Equivalents, at Carrying Value	105,261	6,387	133,304	175,289
Assets	8,438,528	8,085,192
Total liabilities	4,230,942	4,223,756
Total Equity	4,207,586	3,861,436
Total Liabilities and Equity	8,438,528	8,085,192
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Cash and Cash Equivalents, at Carrying Value	38,211	112,852	1,061	494
Assets	2,390,295	2,508,439
Total liabilities	1,380,957	1,621,002
Total Equity	1,009,338	887,437
Total Liabilities and Equity	2,390,295	2,508,439
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Cash and Cash Equivalents, at Carrying Value	64,655	67,355	$ 78,028	$ 187,508
Assets	2,223,782	2,025,022
Total liabilities	1,278,702	1,268,006
Total Equity	945,080	757,016
Total Liabilities and Equity	2,223,782	2,025,022
Homebuilding [Member]
Cash and Cash Equivalents, at Carrying Value	191,086	151,076
Restricted Cash and Cash Equivalents	28,321	35,990
Intercompany receivables
Owned	6,438,792	6,069,959
Not owned	66,267	83,246
Homebuilding investments in unconsolidated joint ventures	127,127	132,763
Investments in subsidiaries
Deferred income taxes, net	330,378	396,194
Goodwill	970,185	933,360
Other assets	204,489	202,665
Assets	8,356,645	8,005,253
Accounts payable	211,780	191,681
Accrued liabilities and intercompany payables	599,905	562,690
Secured Debt	27,579	25,683
Senior notes payable	3,392,208	3,462,016
Total liabilities	4,231,472	4,242,070
Homebuilding [Member] | Consolidation, Eliminations [Member]
Cash and Cash Equivalents, at Carrying Value
Restricted Cash and Cash Equivalents
Intercompany receivables	(2,380,699)	(2,533,404)
Owned
Not owned
Homebuilding investments in unconsolidated joint ventures
Investments in subsidiaries	(1,954,418)	(1,644,453)
Deferred income taxes, net	(6,643)	(9,751)
Goodwill
Other assets
Assets	(4,341,760)	(4,187,608)
Accounts payable
Accrued liabilities and intercompany payables	(2,054,217)	(2,378,867)
Secured Debt	(334,926)	(148,545)
Senior notes payable
Total liabilities	(2,389,143)	(2,527,412)
Homebuilding [Member] | Parent Company [Member] | Reportable Legal Entities [Member]
Cash and Cash Equivalents, at Carrying Value	105,261	6,387
Restricted Cash and Cash Equivalents
Intercompany receivables	2,045,773	2,380,899
Owned	2,825,234	2,524,927
Not owned	30,953	32,393
Homebuilding investments in unconsolidated joint ventures	4,469	5,353
Investments in subsidiaries	1,954,418	1,644,453
Deferred income taxes, net	337,021	405,945
Goodwill	970,185	933,360
Other assets	165,214	151,475
Assets	8,438,528	8,085,192
Accounts payable	92,611	91,873
Accrued liabilities and intercompany payables	387,098	499,700
Secured Debt	359,025	170,167
Senior notes payable	3,392,208	3,462,016
Total liabilities	4,230,942	4,223,756
Homebuilding [Member] | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Cash and Cash Equivalents, at Carrying Value	38,211	112,852
Restricted Cash and Cash Equivalents
Intercompany receivables
Owned	2,277,840	2,304,305
Not owned	32,596	38,925
Homebuilding investments in unconsolidated joint ventures	4,923	4,330
Investments in subsidiaries
Deferred income taxes, net
Goodwill
Other assets	36,725	48,027
Assets	2,390,295	2,508,439
Accounts payable	78,729	82,906
Accrued liabilities and intercompany payables	1,302,228	1,538,096
Secured Debt
Senior notes payable
Total liabilities	1,380,957	1,621,002
Homebuilding [Member] | Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Cash and Cash Equivalents, at Carrying Value	47,614	31,837
Restricted Cash and Cash Equivalents	28,321	35,990
Intercompany receivables	334,926	152,505
Owned	1,335,718	1,240,727
Not owned	2,718	11,928
Homebuilding investments in unconsolidated joint ventures	117,735	123,080
Investments in subsidiaries
Deferred income taxes, net
Goodwill
Other assets	2,550	3,163
Assets	1,869,582	1,599,230
Accounts payable	40,440	16,902
Accrued liabilities and intercompany payables	964,796	903,761
Secured Debt	3,480	4,061
Senior notes payable
Total liabilities	1,008,716	924,724
Financial Services [Member]
Cash and Cash Equivalents, at Carrying Value	17,041	35,518
Restricted Cash and Cash Equivalents	21,710	22,914
Other assets	26,666	17,243
Assets	352,399	424,149
Mortgage loans held for sale, net	262,058	325,770
Mortgage loans held for investment, net	24,924	22,704
Total liabilities	269,986	325,896
Accounts payable and other liabilities	22,559	22,474
Warehouse Agreement Borrowings	247,427	303,422
Financial Services [Member] | Consolidation, Eliminations [Member]
Cash and Cash Equivalents, at Carrying Value
Restricted Cash and Cash Equivalents
Other assets	(1,801)	(1,643)
Assets	(1,801)	(1,643)
Mortgage loans held for sale, net
Mortgage loans held for investment, net
Total liabilities		(17,386)
Accounts payable and other liabilities		(17,386)
Warehouse Agreement Borrowings
Financial Services [Member] | Parent Company [Member] | Reportable Legal Entities [Member]
Cash and Cash Equivalents, at Carrying Value
Restricted Cash and Cash Equivalents
Other assets
Assets
Mortgage loans held for sale, net
Mortgage loans held for investment, net
Total liabilities
Accounts payable and other liabilities
Warehouse Agreement Borrowings
Financial Services [Member] | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Cash and Cash Equivalents, at Carrying Value
Restricted Cash and Cash Equivalents
Other assets
Assets
Mortgage loans held for sale, net
Mortgage loans held for investment, net
Total liabilities
Accounts payable and other liabilities
Warehouse Agreement Borrowings
Financial Services [Member] | Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Cash and Cash Equivalents, at Carrying Value	17,041	35,518
Restricted Cash and Cash Equivalents	21,710	22,914
Other assets	28,467	18,886
Assets	354,200	425,792
Mortgage loans held for sale, net	262,058	325,770
Mortgage loans held for investment, net	24,924	22,704
Total liabilities	269,986	343,282
Accounts payable and other liabilities	22,559	39,860
Warehouse Agreement Borrowings	$ 247,427	$ 303,422

Note 18 - Supplemental Guaran92

Note 18 - Supplemental Guarantor Information - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net cash provided by (used in) operating activities	$ 322,314	$ (271,361)	$ (362,397)
Investments in unconsolidated homebuilding joint ventures	(29,118)	(91,453)	(10,506)
Distributions of capital from unconsolidated homebuilding joint ventures	39,735	19,582	18,010
Loan to parent and subsidiaries
Other investing activities	(7,688)	(11,972)	(4,754)
Net cash provided by (used in) investing activities	2,929	184,674	(31,020)
Change in restricted cash	8,873	652	(16,762)
Borrowing from revolving credit facility	1,433,200	852,700
Principal payments on revolving credit facility	(1,433,200)	(852,700)
Principal payments on secured project debt and other notes payable	(23,228)	(2,532)	(1,458)
Loan from subsidiary
Principal payments on senior notes payable	(280,000)	(29,789)	(4,971)
Proceeds from Issuance of Senior Long-term Debt	300,000		300,000
Payment of debt issuance costs	(2,669)	(1,016)	(6,230)
Net proceeds from (payments on) mortgage credit facilities	(55,995)	110,469	(11,454)
(Contributions to) distributions from Corporate and subsidiaries
Repurchases of common stock	(232,520)	(22,073)	(36,781)
Common stock dividend payments	(18,841)	(4,851)
Issuance of common stock under employee stock plans, net of withholdings	1,330	1,000	6,771
Excess tax benefit (provision) from share-based payment arrangements	(460)
Other financing activities	(200)	(222)
Intercompany advances, net
Net cash provided by (used in) financing activities	(303,710)	60,888	242,519
Net increase (decrease) in cash and equivalents	21,533	(25,799)	(150,898)
Cash and equivalents at beginning of year	186,594	212,393	363,291
Cash and equivalents at end of year	208,127	186,594	212,393
Net cash provided by (used in) operating activities	322,314	(271,361)	(362,397)
Cash acquired in connection with merger		268,517
Principal payments on senior notes payable		(29,789)	(4,971)
Excess tax benefit (provision) from share-based payment arrangements		9,250	13,404
Net cash paid for acquisitions			(33,770)
Issuance of common stock under employee stock plans, net of withholdings			6,771
Consolidation, Eliminations [Member]
Net cash provided by (used in) operating activities
Investments in unconsolidated homebuilding joint ventures
Distributions of capital from unconsolidated homebuilding joint ventures
Loan to parent and subsidiaries	187,300	(34,000)	180,000
Other investing activities
Net cash provided by (used in) investing activities	187,300	(34,000)	180,000
Change in restricted cash
Borrowing from revolving credit facility
Principal payments on revolving credit facility
Principal payments on secured project debt and other notes payable
Loan from subsidiary	(187,300)	(46,000)	(100,000)
Principal payments on senior notes payable
Proceeds from Issuance of Senior Long-term Debt
Payment of debt issuance costs
Net proceeds from (payments on) mortgage credit facilities		80,000	(80,000)
(Contributions to) distributions from Corporate and subsidiaries
Repurchases of common stock
Common stock dividend payments
Issuance of common stock under employee stock plans, net of withholdings
Excess tax benefit (provision) from share-based payment arrangements
Other financing activities
Intercompany advances, net
Net cash provided by (used in) financing activities	(187,300)	34,000	(180,000)
Net increase (decrease) in cash and equivalents
Cash and equivalents at beginning of year
Cash and equivalents at end of year
Net cash provided by (used in) operating activities
Cash acquired in connection with merger
Principal payments on senior notes payable
Excess tax benefit (provision) from share-based payment arrangements
Net cash paid for acquisitions
Issuance of common stock under employee stock plans, net of withholdings
Parent Company [Member] | Reportable Legal Entities [Member]
Net cash provided by (used in) operating activities	35,434	(17,201)	(56,158)
Investments in unconsolidated homebuilding joint ventures	(276)
Distributions of capital from unconsolidated homebuilding joint ventures	1,104	641	227
Loan to parent and subsidiaries
Other investing activities	(616)	9	(1,571)
Net cash provided by (used in) investing activities	212	20,995	(1,344)
Change in restricted cash
Borrowing from revolving credit facility	1,433,200	852,700
Principal payments on revolving credit facility	(1,433,200)	(852,700)
Principal payments on secured project debt and other notes payable	(22,647)	(1,893)
Loan from subsidiary	187,300	46,000	100,000
Principal payments on senior notes payable	(280,000)
Proceeds from Issuance of Senior Long-term Debt	300,000		300,000
Payment of debt issuance costs	(2,669)	(1,016)	(6,230)
Net proceeds from (payments on) mortgage credit facilities
(Contributions to) distributions from Corporate and subsidiaries	20,850	13,873	8,350
Repurchases of common stock	(232,520)	(22,073)	(36,781)
Common stock dividend payments	(18,841)	(4,851)
Issuance of common stock under employee stock plans, net of withholdings	1,330	1,000
Excess tax benefit (provision) from share-based payment arrangements	(460)
Other financing activities
Intercompany advances, net	110,885	(141,212)	(365,026)
Net cash provided by (used in) financing activities	63,228	(130,711)	15,517
Net increase (decrease) in cash and equivalents	98,874	(126,917)	(41,985)
Cash and equivalents at beginning of year	6,387	133,304	175,289
Cash and equivalents at end of year	105,261	6,387	133,304
Net cash provided by (used in) operating activities	35,434	(17,201)	(56,158)
Cash acquired in connection with merger		20,345
Principal payments on senior notes payable		(29,789)	(4,971)
Excess tax benefit (provision) from share-based payment arrangements		9,250	13,404
Net cash paid for acquisitions
Issuance of common stock under employee stock plans, net of withholdings			6,771
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Net cash provided by (used in) operating activities	120,540	(107,470)	(118,941)
Investments in unconsolidated homebuilding joint ventures	(227)
Distributions of capital from unconsolidated homebuilding joint ventures	336	75	228
Loan to parent and subsidiaries
Other investing activities	(3,496)	(4,310)	(1,351)
Net cash provided by (used in) investing activities	(3,387)	233,799	(37,170)
Change in restricted cash
Borrowing from revolving credit facility
Principal payments on revolving credit facility
Principal payments on secured project debt and other notes payable
Loan from subsidiary
Principal payments on senior notes payable
Proceeds from Issuance of Senior Long-term Debt
Payment of debt issuance costs
Net proceeds from (payments on) mortgage credit facilities
(Contributions to) distributions from Corporate and subsidiaries		(31,719)
Repurchases of common stock
Common stock dividend payments
Issuance of common stock under employee stock plans, net of withholdings
Excess tax benefit (provision) from share-based payment arrangements
Other financing activities	(200)	(95)
Intercompany advances, net	(191,594)	17,276	156,678
Net cash provided by (used in) financing activities	(191,794)	(14,538)	156,678
Net increase (decrease) in cash and equivalents	(74,641)	111,791	567
Cash and equivalents at beginning of year	112,852	1,061	494
Cash and equivalents at end of year	38,211	112,852	1,061
Net cash provided by (used in) operating activities	120,540	(107,470)	(118,941)
Cash acquired in connection with merger		238,034
Principal payments on senior notes payable
Excess tax benefit (provision) from share-based payment arrangements
Net cash paid for acquisitions			(36,047)
Issuance of common stock under employee stock plans, net of withholdings
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Net cash provided by (used in) operating activities	166,340	(146,690)	(187,298)
Investments in unconsolidated homebuilding joint ventures	(28,615)	(91,453)	(10,506)
Distributions of capital from unconsolidated homebuilding joint ventures	38,295	18,866	17,555
Loan to parent and subsidiaries	(187,300)	34,000	(180,000)
Other investing activities	(3,576)	(7,671)	(1,832)
Net cash provided by (used in) investing activities	(181,196)	(36,120)	(172,506)
Change in restricted cash	8,873	652	(16,762)
Borrowing from revolving credit facility
Principal payments on revolving credit facility
Principal payments on secured project debt and other notes payable	(581)	(639)	(1,458)
Loan from subsidiary
Principal payments on senior notes payable
Proceeds from Issuance of Senior Long-term Debt
Payment of debt issuance costs
Net proceeds from (payments on) mortgage credit facilities	(55,995)	30,469	68,546
(Contributions to) distributions from Corporate and subsidiaries	(20,850)	17,846	(8,350)
Repurchases of common stock
Common stock dividend payments
Issuance of common stock under employee stock plans, net of withholdings
Excess tax benefit (provision) from share-based payment arrangements
Other financing activities		(127)
Intercompany advances, net	80,709	123,936	208,348
Net cash provided by (used in) financing activities	12,156	172,137	250,324
Net increase (decrease) in cash and equivalents	(2,700)	(10,673)	(109,480)
Cash and equivalents at beginning of year	67,355	78,028	187,508
Cash and equivalents at end of year	64,655	67,355	78,028
Net cash provided by (used in) operating activities	$ 166,340	(146,690)	(187,298)
Cash acquired in connection with merger		10,138
Principal payments on senior notes payable
Excess tax benefit (provision) from share-based payment arrangements
Net cash paid for acquisitions			2,277
Issuance of common stock under employee stock plans, net of withholdings

Uncategorized Items - caa-20161

Label	Element	Value
Homebuilding restricted cash at end of year	caa_HomebuildingRestrictedCashAtEndOfPeriod	$ 28,321,000
Homebuilding restricted cash at end of year	caa_HomebuildingRestrictedCashAtEndOfPeriod	35,990,000
Homebuilding restricted cash at end of year	caa_HomebuildingRestrictedCashAtEndOfPeriod	38,222,000
Financial services restricted cash at end of year	caa_FinancialServicesRestrictedCashAtEndOfPeriod	21,710,000
Financial services restricted cash at end of year	caa_FinancialServicesRestrictedCashAtEndOfPeriod	22,914,000
Financial services restricted cash at end of year	caa_FinancialServicesRestrictedCashAtEndOfPeriod	1,295,000
caa_CashAndEquivalentsAndRestrictedCashAtEndOfPeriod	caa_CashAndEquivalentsAndRestrictedCashAtEndOfPeriod	258,158,000
caa_CashAndEquivalentsAndRestrictedCashAtEndOfPeriod	caa_CashAndEquivalentsAndRestrictedCashAtEndOfPeriod	245,498,000
caa_CashAndEquivalentsAndRestrictedCashAtEndOfPeriod	caa_CashAndEquivalentsAndRestrictedCashAtEndOfPeriod	$ 251,910,000