CalAtlantic (CAA) 10-Q 9 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 08, 2017
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)		110,334,484
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Homebuilding:
Home sale revenues	$ 1,515,167	$ 1,665,030	$ 4,473,480	$ 4,402,896
Land sale revenues	676	5,928	1,176	32,107
Total revenues	1,515,843	1,670,958	4,474,656	4,435,003
Cost of home sales	(1,212,468)	(1,290,628)	(3,572,572)	(3,440,549)
Cost of land sales	(240)	(5,638)	(247)	(31,217)
Total cost of sales	(1,212,708)	(1,296,266)	(3,572,819)	(3,471,766)
Gross margin	303,135	374,692	901,837	963,237
Selling, general and administrative expenses	(168,429)	(170,815)	(498,702)	(473,210)
Income (loss) from unconsolidated joint ventures	5,426	1,231	9,760	2,643
Other income (expense)	(1,238)	(4,169)	(4,082)	(11,992)
Homebuilding pretax income	138,894	200,939	408,813	480,678
Financial Services:
Revenues	20,161	21,433	60,394	59,524
Expenses	(12,883)	(11,626)	(36,919)	(34,635)
Financial services pretax income	7,278	9,807	23,475	24,889
Income before taxes	146,172	210,746	432,288	505,567
Provision for income taxes	(52,820)	(78,398)	(157,322)	(187,798)
Net income	93,352	132,348	274,966	317,769
Less: Net income allocated to unvested restricted stock	(400)	(294)	(1,104)	(635)
Net income available to common stockholders	$ 92,952	$ 132,054	$ 273,862	$ 317,134
Income Per Common Share:
Basic (in dollars per share)	$ 0.84	$ 1.12	$ 2.43	$ 2.66
Diluted (in dollars per share)	$ 0.75	$ 0.97	$ 2.14	$ 2.34
Weighted Average Common Shares Outstanding:
Basic (in shares)	110,205,460	118,338,891	112,778,362	119,188,145
Diluted (in shares)	124,449,912	136,077,415	129,521,479	136,888,927
Cash Dividends Declared Per Common Share (in dollars per share)	$ 0.04	$ 0.04	$ 0.12	$ 0.12

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net income	$ 93,352	$ 132,348	$ 274,966	$ 317,769
Other comprehensive income, net of tax:
Unrealized gain on marketable securities, available for sale				39
Total comprehensive income	$ 93,352	$ 132,348	$ 274,966	$ 317,808

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Cash and equivalents	$ 129,667	$ 208,127
Inventories:
Total assets	9,079,034	8,709,044
Cash and equivalents	129,667	208,127
Total assets	9,079,034	8,709,044
LIABILITIES AND EQUITY
Total liabilities	4,735,931	4,501,458
Total liabilities	4,735,931	4,501,458
Stockholders' Equity:
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued and outstanding at September 30, 2017 and December 31, 2016
Common stock, $0.01 par value; 600,000,000 shares authorized; 110,217,216 and 114,429,297 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	1,102	1,144
Additional paid-in capital	3,064,963	3,204,835
Accumulated earnings	1,263,318	1,001,779
Accumulated other comprehensive income (loss), net of tax	(172)	(172)
Total Stockholders' Equity	4,329,211	4,207,586
Noncontrolling Interest	13,892
Total Equity	4,343,103	4,207,586
Total Liabilities and Equity	9,079,034	8,709,044
Homebuilding [Member]
ASSETS
Cash and equivalents	83,310	191,086
Restricted cash	29,620	28,321
Inventories:
Owned	6,946,766	6,438,792
Not owned	91,944	66,267
Investments in unconsolidated joint ventures	130,692	127,127
Deferred income taxes, net of valuation allowance of $1,925 and $2,456 at September 30, 2017 and December 31, 2016, respectively	307,251	330,378
Goodwill	985,185	970,185
Other assets	235,135	204,489
Total assets	8,809,903	8,356,645
Cash and equivalents	83,310	191,086
Restricted cash	29,620	28,321
Total assets	8,809,903	8,356,645
LIABILITIES AND EQUITY
Accounts payable	177,752	211,780
Accrued liabilities	562,424	599,905
Revolving credit facility	295,600
Secured project debt and other notes payable	43,150	27,579
Senior notes payable	3,483,388	3,392,208
Total liabilities	4,562,314	4,231,472
Total liabilities	4,562,314	4,231,472
Financial Services [Member]
ASSETS
Cash and equivalents	46,357	17,041
Restricted cash	21,205	21,710
Inventories:
Other assets	15,991	26,666
Total assets	269,131	352,399
Cash and equivalents	46,357	17,041
Restricted cash	21,205	21,710
Mortgage loans held for sale, net	160,068	262,058
Mortgage loans held for investment, net	25,510	24,924
Total assets	269,131	352,399
LIABILITIES AND EQUITY
Total liabilities	173,617	269,986
Accounts payable and other liabilities	20,831	22,559
Mortgage credit facility	152,786	247,427
Total liabilities	$ 173,617	$ 269,986

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
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)	110,217,216	114,429,297
Common stock, shares outstanding (in shares)	110,217,216	114,429,297
Homebuilding [Member]
Deferred income taxes, valuation allowance	$ 1,925	$ 2,456

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows From Operating Activities:
Net income	$ 274,966,000	$ 317,769,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
(Income) loss from unconsolidated joint ventures	(9,760,000)	(2,643,000)
Depreciation and amortization	41,818,000	43,193,000
Amortization of stock-based compensation	14,282,000	11,216,000
Deferred income tax provision	22,972,000	8,118,000
Other operating activities	7,062,000	100,000
Changes in cash and equivalents due to:
Mortgage loans held for sale	101,968,000	154,622,000
Inventories - owned	(450,620,000)	(366,095,000)
Inventories - not owned	(56,722,000)	(29,192,000)
Other assets	(12,206,000)	7,665,000
Accounts payable	(34,028,000)	13,122,000
Accrued liabilities	(23,207,000)	9,787,000
Net cash provided by (used in) operating activities	(123,475,000)	167,662,000
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures	(33,212,000)	(27,000,000)
Distributions of capital from unconsolidated homebuilding joint ventures	12,770,000	23,727,000
Net cash paid for acquisitions	(44,477,000)
Other investing activities	(11,113,000)	(5,389,000)
Net cash provided by (used in) investing activities	(76,032,000)	(8,662,000)
Cash Flows From Financing Activities:
Change in restricted cash	(794,000)	7,309,000
Borrowings from revolving credit facility	685,550,000	1,008,000,000
Principal payments on revolving credit facility	(389,950,000)	(862,000,000)
Principal payments on secured project debt and other notes payable	(909,000)	(10,389,000)
Principal payment on senior notes payable	(483,000,000)	(280,000,000)
Proceeds from the issuance of senior notes payable	579,125,000	300,000,000
Payment of debt issuance costs	(5,019,000)	(2,657,000)
Net proceeds from (payments on) mortgage credit facility	(94,641,000)	(141,524,000)
Repurchases of common stock	(150,014,000)	(137,464,000)
Common stock dividend payments	(13,427,000)	(14,264,000)
Issuance of common stock under employee stock plans, net of tax withholdings	(5,807,000)	1,868,000
Other financing activities	(67,000)	(199,000)
Net cash provided by (used in) financing activities	121,047,000	(131,320,000)
Net increase (decrease) in cash and equivalents	(78,460,000)	27,680,000
Cash and equivalents at beginning of period	208,127,000	186,594,000
Cash and equivalents at end of period	129,667,000	214,274,000
Cash and equivalents at end of period	208,127,000	186,594,000
Homebuilding [Member]
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
(Income) loss from unconsolidated joint ventures	(9,760,000)	$ (2,643,000)
Cash Flows From Financing Activities:
Cash and equivalents at beginning of period	191,086,000
Cash and equivalents at end of period	83,310,000
Cash and equivalents at end of period	83,310,000
Financial Services [Member]
Cash Flows From Financing Activities:
Cash and equivalents at beginning of period	17,041,000
Cash and equivalents at end of period	46,357,000
Cash and equivalents at end of period	$ 46,357,000

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Basis of Accounting [Text Block]	1. Basis of Presentation The accompanying condensed consolidated financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") for Form 10 September 30, 2017 The unaudited condensed consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10 -K for the year ended December 31, 2016. not

Note 2 - Recent Accounting Pron

Note 2 - Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Recent Accounting Pronouncements [Text Block]	2. Recent Accounting Pronouncements In May 2014, No. 2014 09, Revenue from Contracts with Customers 2014 09" 2014 09, August 2015, No. 2015 14, Revenue from Contracts with Customers (Topic 606 2014 09 one 2014 09 December 15, 2017, not 2014 09 2014 09 may In January 2016, No. 2016 01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities 2016 01" not not not not 820, Fair Value Measurements may 2016 01 December 15, 2017. In March 2016, No. 2016 02, Leases 2016 02" 2016 02 12 2016 02 December 15, 2018. In March 2016, No. 2016 07, Investments- Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting 2016 07" 2016 07 January 1, 2017 not In March 2016, No. 2016 09, Compensation — Stock Compensation: Improvements to Employee Share-Based Payment Accounting 2016 09" 2016 09 January 1, 2017, 2016 09 not 2016 09 not In August 2016, No. 2016 15, Statement of Cash Flows (Topic 230 2016 15" 2016 15 December 15, 2017. not 2016 15 In November 2016, No. 2016 18, Statement of Cash Flows (Topic 230 2016 18" 2016 18 December 15, 2017. no In January 2017, No. 2017 01, Business Combinations: Clarifying the Definition of a Business 2017 01" 2017 01 December 15, 2017. not 2017 01 may In January 2017, No. 2017 04, Intangibles - Goodwill and Other (Topic 350 2017 04" not 2017 04 December 15, 2019, 2017 04 January 1, 2017. 2017 04 not

Note 3 - Segment Reporting

Note 3 - Segment Reporting	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	3 . Segment Reporting We operate two Our homebuilding operations acquire and develop land and construct and sell single-family attached and detached homes. In accordance with ASC Topic 280, Segment Reporting 280" four four Our mortgage financing operation, CalAtlantic Mortgage, 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 mortgage market. Our title, escrow and insurance subsidiaries provide title, escrow and insurance services to homebuyers in many of our markets. Our mortgage financing, title, escrow and insurance services operations are included in our financial services reportable segment, which is separately reported in our condensed consolidated financial statements under "Financial Services." 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: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Homebuilding revenues: North $ 282,591 $ 283,060 $ 848,438 $ 710,889 Southeast 427,244 400,720 1,207,616 1,065,038 Southwest 356,952 389,160 1,099,803 1,165,797 West 449,056 598,018 1,318,799 1,493,279 Total homebuilding revenues $ 1,515,843 $ 1,670,958 $ 4,474,656 $ 4,435,003 Homebuilding pretax income (1): North $ 25,895 $ 25,627 $ 74,492 $ 53,177 Southeast 30,094 31,303 85,695 84,125 Southwest 31,648 39,312 100,757 113,145 West 51,257 104,697 147,869 230,231 Total homebuilding pretax income $ 138,894 $ 200,939 $ 408,813 $ 480,678 Homebuilding income (loss) from unconsolidated joint ventures: North $ 78 $ 113 $ 525 $ 486 Southeast ― ― ― 437 Southwest 252 44 515 869 West 5,096 1,074 8,720 851 Total homebuilding income (loss) from unconsolidated joint ventures $ 5,426 $ 1,231 $ 9,760 $ 2,643 ( 1 Homebuilding pretax income includes depreciation and amortization expense of $ 2.0 $4.5 $2.3 $5.3 September 30, 2017 $1.7 $4.2 $2.8 $7.1 September 30, 2016. $5.6 $12.2 $7.8 $16.1 nine September 30, 2017 $4.5 $11.2 $8.6 $18.9 nine September 30, 2016. Segment financial information relating to the Company ’s homebuilding assets was as follows: September 30, December 31, 2017 2016 (Dollars in thousands) Homebuilding assets: North $ 1,347,835 $ 1,181,544 Southeast 2,375,363 2,253,289 Southwest 1,895,329 1,842,869 West 2,706,155 2,500,163 Corporate 485,221 578,780 Total homebuilding assets $ 8,809,903 $ 8,356,645 Homebuilding investments in unconsolidated joint ventures: North $ 5,829 $ 5,691 Southeast 162 334 Southwest 4,855 6,085 West 119,846 115,017 Total homebuilding investments in unconsolidated joint ventures $ 130,692 $ 127,127

Note 4 - Earnings Per Common Sh

Note 4 - Earnings Per Common Share	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	4 . 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 unvested restricted stock is classified as a participating security 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 Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands, except per share amounts) Numerator: Net income $ 93,352 $ 132,348 $ 274,966 $ 317,769 Less: Net income allocated to unvested restricted stock (400 ) (294 ) (1,104 ) (635 ) Net income available to common stockholders for basic earnings per common share 92,952 132,054 273,862 317,134 Effect of dilutive securities: Interest on 1.625% convertible senior notes due 2018 94 91 1,123 1,088 Interest on 0.25% convertible senior notes due 2019 85 82 1,016 984 Interest on 1.25% convertible senior notes due 2032 48 62 752 744 Net income available to common stock for diluted earnings per share $ 93,179 $ 132,289 $ 276,753 $ 319,950 Denominator: Weighted average basic common shares outstanding 110,205,460 118,338,891 112,778,362 119,188,145 Effect of dilutive securities: Share-based awards 875,214 643,602 881,500 605,860 1.625% convertible senior notes due 2018 7,174,013 7,165,845 7,174,013 7,165,845 0.25% convertible senior notes due 2019 3,642,200 3,638,080 3,642,200 3,638,080 1.25% convertible senior notes due 2032 2,553,025 6,290,997 5,045,404 6,290,997 Weighted average diluted shares outstanding 124,449,912 136,077,415 129,521,479 136,888,927 Income per common share: Basic $ 0.84 $ 1.12 $ 2.43 $ 2.66 Diluted $ 0.75 $ 0.97 $ 2.14 $ 2.34

Note 5 - Stock-based Compensati

Note 5 - Stock-based Compensation	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	5 . Stock-Based Compensation We account for share-based awards in accordance with ASC Topic 718, Compensation – Stock Compensation 718" 718 Total compensation expense recognized related to stock-based compensation was $5.1 $3.7 three September 30, 2017 2016, nine September 30, 2017 2016, $14.3 $11.2 September 30, 2017, $31.3 2.2

Note 6 - Cash and Equivalents a

Note 6 - Cash and Equivalents and Restricted Cash	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	6 . 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 September 30, 2017, $80.8 five At September 30, 2017, $29.6 September 30, 2017 $17.7 $3.0 $0.5 third

Note 7 - Marketable Securities,

Note 7 - Marketable Securities, Available-for-sale	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	7 . Marketable Securities, Available-for-sale 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 condensed consolidated balance sheets. As defined in ASC Topic 320, Investments—Debt and Equity Securities 320" September 30, 2017, $172,000 $173,000 nine September 30, 2017, 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 not September 30, 2017, The following table displays the fair values of marketable securities, available-for-sale, by type of security: September 30, 2017 December 31, 2016 Amortized Cost Gross Unrealized Losses Estimated Fair Value Amortized Cost Gross Unrealized Losses Estimated Fair Value (Dollars in thousands) Type of security: Municipal bond and metropolitan district securities $ 24,994 $ (465 ) $ 24,529 $ 18,563 $ (465 ) $ 18,098 The following table displays the fair values of marketable securities, available-for-sale, by contractual maturity: September 30, 2017 (Dollars in thousands) Contractual maturity: Maturing in one year or less $ — Maturing after three years 24,529 Total marketable securities, available-for-sale $ 24,529

Note 8 - Inventories

Note 8 - Inventories	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	8 . Inventories a. Inventories Owned Inventories owned consisted of the following at: September 30, 2017 North Southeast Southwest West Total (Dollars in thousands) Land and land under development (1) $ 136,182 $ 993,953 $ 420,686 $ 1,335,910 $ 2,886,731 Homes completed and under construction 790,486 928,157 966,286 939,488 3,624,417 Model homes 57,518 112,197 102,969 162,934 435,618 Total inventories owned $ 984,186 $ 2,034,307 $ 1,489,941 $ 2,438,332 $ 6,946,766 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 ( 1 During the nine September 30, 2017, $732.4 10,694 27% 34% 18% 21% December 31, 2016, $960.8 13,566 25% 25% 24% 26% In accordance with ASC Topic 360, Property, Plant, and Equipment 360" may September 30, 2017 2016, 901 879, nine September 30, 2017 2016, not During the 2017 second 19 $44.5 805, Business Combinations $25.7 $3.9 not $15.0 $0.1 September 30, 2017, not b. Inventories Not Inventories not September 30, 2017 December 31, 2016 810, Consolidation 810" not may not may 810,

Note 9 - Capitalization of Inte

Note 9 - Capitalization of Interest	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Home Building Interest [Text Block]	9 . 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, Interest 835" third 835, nine September 30, 2017 2016, 835. The following is a summary of homebuilding interest capitalized to inventories owned and investments in unconsolidated joint ventures, amortized to cost of sales and income (loss) from unconsolidated joint ventures and expensed as interest expense, for the three and nine September 30, 2017 2016: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Total interest incurred (1) $ 52,972 $ 56,872 $ 156,845 $ 175,207 Less: Interest capitalized to inventories owned (1) (52,158 ) (55,761 ) (154,371 ) (172,170 ) Less: Interest capitalized to investments in unconsolidated joint ventures (814 ) (1,111 ) (2,474 ) (3,037 ) Interest expense $ — $ — $ — $ — Interest previously capitalized to inventories owned, included in cost of home sales $ 48,912 $ 44,636 $ 140,687 $ 115,367 Interest previously capitalized to inventories owned, included in cost of land sales $ — $ 115 $ — $ 1,596 Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures $ 5 $ 613 $ 13 $ 613 Interest capitalized in ending inventories owned (2) $ 379,884 $ 362,807 $ 379,884 $ 362,807 Interest capitalized as a percentage of inventories owned 5.5 % 5.6 % 5.5 % 5.6 % Interest capitalized in ending investments in unconsolidated joint ventures (2) $ 5,324 $ 3,224 $ 5,324 $ 3,224 Interest capitalized as a percentage of investments in unconsolidated joint ventures 4.1 % 2.3 % 4.1 % 2.3 % ( 1 Total interest incurred and interest capitalized to in ventories owned during the nine September 30, 2016 $9 1.625% 2016 first ( 2 During the three and nine September 30, 2017, $0 $0.5

Note 10 - Investments in Uncons

Note 10 - Investments in Unconsolidated Land Development and Homebuilding Joint Ventures	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	1 0. Investments in Unconsolidated Land Development and Homebuilding Joint Ventures Income (loss) from unconsolidated joint ventures reflected in the accompanying condensed 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 , if any, recorded against our investments in joint ventures which we do not third During each of the nine September 30, 2017 2016, no nine September 30, 2017, $1.0 three nine September 30, 2016, one Our investments in unconsolidated joint ventures may 810 September 30, 2017, two 2017 810, 810 not not not 810, two 1 2 two $13.9 September 30, 2017.

Note 11 - Warranty Costs

Note 11 - Warranty Costs	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	1 1. 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. Our warranty accrual is included in accrued liabilities in the accompanying condensed consolidated balance sheets. Changes in our warranty accrual are detailed in the table set forth below: Nine Months Ended September 30, 2017 2016 (Dollars in thousands) Warranty accrual, beginning of the period $ 43,932 $ 40,691 Warranty costs accrued during the period 16,097 16,903 Warranty costs paid during the period (18,303 ) (15,088 ) Warranty accrual, end of the period $ 41,726 $ 42,506

Note 12 - Revolving Credit Faci

Note 12 - Revolving Credit Facility and Letter of Credit Facilities	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Line of Credit Facility [Text Block]	1 2. Revolving Credit Facility and Letter of Credit Facilities As of September 30, 2017, $750 $350 October 2019. may $1.2 1.24% September 30, 2017) 1.75%, 4.25% September 30, 2017) 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 not not four 1.25 1.00. revolving facility covenants as of September 30, 2017. On September 30, 2017, $295.6 $119.2 $335.2 As of September 30, 2017, $350 four $48.0 $22.4 October 2018 August 2020. September 30, 2017, $22.8 may

Note 13 - Secured Project Debt

Note 13 - Secured Project Debt and Other Notes Payable	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	13 . 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 September 30, 2017, $43.2

Note 14 - Senior Notes Payable

Note 14 - Senior Notes Payable	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Long-term Debt [Text Block]	14 . Senior Notes Payable Senior notes payable consisted of the following at: September 30, December 31, 2017 2016 (Dollars in thousands) 8.4% Senior Notes due May 2017 ― $ 235,175 8.375% Senior Notes due May 2018 574,784 574,501 1.625% Convertible Senior Notes due May 2018 222,757 220,236 0.25% Convertible Senior notes due June 2019 258,035 253,777 6.625% Senior Notes due May 2020 315,430 319,909 8.375% Senior Notes due January 2021 396,087 395,246 6.25% Senior Notes due December 2021 297,980 297,623 5.375% Senior Notes due October 2022 249,331 249,230 5.875% Senior Notes due November 2024 426,558 296,982 5.25% Senior Notes due June 2026 395,323 297,483 5.00% Senior Notes due June 2027 347,103 ― 1.25% Convertible Senior Notes due August 2032 ― 252,046 $ 3,483,388 $ 3,392,208 The carrying amount of our senior notes listed above are net of debt issuance costs and any discounts and premiums that are amortized to interest costs over the respective terms of the notes. The Company's 1.625% 2018 1.625% 1.625% May 15, 2018, may 1.625% 31.8 845 $1,000 $31.36 may not 1.625% The Company's 0.25% 2019 0.25% 0.25% June 1, 2019, may 0.25% 13.6 157 $1,000 $73.44 may not 0.25% June 6, 2017. may 0.25% 20 not 30 5 30 130 100 0.25% 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 September 30, 2017, Many of our 100% in compliance with the indenture, and such Guarantor Subsidiary ceases to guaranty any other debt of the Company. Please see Note 21 In April 2017, $225 $125 ’s existing 5.875% 2024 $100 5.25% 2026, $230 8.4% May 2017. During June 2017, $350 5.00% 2027, A portion of the net proceeds of this issuance were used to repurchase and repay the aggregate principal balance of our 1.25% August 2032. During August 2017, , at a redemption price equal to 100% $253 1.25% August 1, 2032.

Note 15 - Mortgage Credit Facil

Note 15 - Mortgage Credit Facility	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Disclosure of Warehouse Agreement Borrowings [Text Block]	1 5. Mortgage Credit Facility At September 30, 2017, $152.8 $300 June 2018. $3.0 September 30, 2017, not September 30, 2017,

Note 16 - Disclosures About Fai

Note 16 - Disclosures About Fair Value	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	1 6. Disclosures about Fair Value ASC Topic 820, Fair Value Measurements and Disclosures 820" 820 820 three • Level 1 identical • Level 2 similar not • Level 3 one unobservable F inancial instruments measured at fair value on a recurring basis: Fair Value at Fair Value Hierarchy September 30, 2017 December 31, 2016 (Dollars in thousands) Marketable securities, available-for-sale Municipal debt securities Level 2 $ 9,387 $ 9,387 Metropolitan district bond securities Level 3 $ 15,142 $ 8,711 Mortgage loans held for sale Level 2 $ 163,352 $ 265,542 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, which uses Level 2 3 1 2 3 Mortgage loans held for sale Mortgage loans held for sale first third F inancial instruments for which we have not 825: September 30, 2017 December 31, 2016 Description Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value (Dollars in thousands) Financial services assets: Mortgage loans held for investment, net 2 $ 25,510 $ 25,510 $ 24,924 $ 24,924 Homebuilding liabilities: Senior and convertible senior notes payable, net 2 $ 3,483,388 $ 3,753,098 $ 3,392,208 $ 3,617,838 Mortgage Loans Held for Investment – Fair value of these loans is based on the estimated market value of the underlying collateral based on market data and other factors for similar type properties as further adjusted to reflect the estimated net realizable value of carrying the loans through disposition. Senior and Convertible Senior Notes Payable – The fair value of our cash and equivalents, restricted cash, accounts payable and accrued 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 and/or variable interest rate attribute of these assets and liabilities.

Note 17 - Commitments and Conti

Note 17 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	1 7. Commitments and Contingencies 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 a letter of credit provided by us with no In some instances, we may not September 30, 2017, $80.3 $31.3 $995.1 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 September 30, 2017, 28 14 14 As of September 30, 2017, no . At September 30, 2017, no c. Surety Bonds We obtain surety bonds in the normal course of business to ensure completion of the infrastructure of our communities. At September 30, 2017, $1,002.2 $506.1 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 mortgage market and finances these loans under its mortgage credit facility for a short period of time (typically for 30 45 $291.6 September 30, 2017 4.0%. September 30, 2017, $163.4 $33.3 September 30, 2017, $258.3 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 nine September 30, 2017 2016, $0.3 $0.1 September 30, 2017 December 31, 2016, $3.8 $3.6 nine September 30, 2017 2016, $0.1 $0.3 e. 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 September 30, 2017 December 31, 2016 $233.8 $233.5 In July 2017, Company of an issue with a specific type of fire rated I-joist product manufactured after December 1, 2016. 370 not

Note 18 - Income Taxes

Note 18 - Income Taxes	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	18. Income Taxes We account for income taxes in accordance with ASC Topic 740, Income Taxes 740" 740 Each quarter we assess our deferred tax asset to determine whether all or any portion of the asset is more likely than not 740. not Our 2017 third $52.8 $146.2 September 30, 2017, $309.2 $1.9 $96.0 382 $15.6 $16.1 382 October 1, 2015 $5.0 not 382. $192.1 no September 30, 2017 December 31, 2016, $14.0 $12.1 September 30, 2017, December 31, 2012 2016.

Note 19 - Subsequent Event

Note 19 - Subsequent Event	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	19 . Su bsequent Event On October 29, 2017, and Lennar Corporation (“Lennar”) entered into an Agreement and Plan of Merger (the “Merger”). At the effective time of the Merger, each share of common stock of the Company issued and outstanding will be converted into and become the right to receive either (i) subject to adjustment, 0.885 $48.26 $1.16 8 October 30, 2017,

Note 20 - Supplemental Disclosu

Note 20 - Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	20 . Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows The following are supplemental disclosures to the condensed consolidated statements of cash flows: Nine Months Ended September 30, 2017 2016 (Dollars in thousands) Supplemental Disclosures of Cash Flow Information: Cash paid during the period for: Income taxes $ 177,332 $ 150,822 Supplemental Disclosures of Noncash Activities: Increase in secured project debt for assets acquired $ 16,480 $ 25,625

Note 21 - Supplemental Guaranto

Note 21 - Supplemental Guarantor Information	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Supplemental Guarantor Information [Text Block]	21 . S upplemental Guarantor Information Certain of our 100% otes payable (please see Note 14 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended September 30, 2017 CalAtlantic Group, Inc. Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (Dollars in thousands) Homebuilding: Revenues $ 647,336 $ 632,262 $ 236,245 $ — $ 1,515,843 Cost of sales (528,858 ) (505,367 ) (178,483 ) — (1,212,708 ) Gross margin 118,478 126,895 57,762 — 303,135 Selling, general and administrative expenses (68,237 ) (80,147 ) (20,045 ) — (168,429 ) Income (loss) from unconsolidated joint ventures 981 252 4,193 — 5,426 Equity income of subsidiaries 62,765 — — (62,765 ) — Interest income (expense), net 845 (519 ) (326 ) — — Other income (expense) (3,714 ) (287 ) 2,763 — (1,238 ) Homebuilding pretax income 111,118 46,194 44,347 (62,765 ) 138,894 Financial Services: Financial services pretax income — — 7,278 — 7,278 Income before taxes 111,118 46,194 51,625 (62,765 ) 146,172 Provision for income taxes (17,766 ) (22,788 ) (12,266 ) — (52,820 ) Net income $ 93,352 $ 23,406 $ 39,359 $ (62,765 ) $ 93,352 Three Months Ended September 30, 2016 CalAtlantic Group, Inc. Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (Dollars in thousands) Homebuilding: Revenues $ 707,397 $ 656,095 $ 307,466 $ — $ 1,670,958 Cost of sales (561,856 ) (520,810 ) (213,600 ) — (1,296,266 ) Gross margin 145,541 135,285 93,866 — 374,692 Selling, general and administrative expenses (75,217 ) (75,834 ) (19,764 ) — (170,815 ) Income (loss) from unconsolidated joint ventures (717 ) 44 1,904 — 1,231 Equity income of subsidiaries 95,380 — — (95,380 ) — Interest income (expense), net 1,075 (886 ) (189 ) — — Other income (expense) (3,602 ) (762 ) 195 — (4,169 ) Homebuilding pretax income 162,460 57,847 76,012 (95,380 ) 200,939 Financial Services: Financial services pretax income — — 9,807 — 9,807 Income before taxes 162,460 57,847 85,819 (95,380 ) 210,746 Provision for income taxes (30,112 ) (23,111 ) (25,175 ) — (78,398 ) Net income $ 132,348 $ 34,736 $ 60,644 $ (95,380 ) $ 132,348 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Nine Months Ended September 30, 2017 CalAtlantic Group, Inc. Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (Dollars in thousands) Homebuilding: Revenues $ 1,955,915 $ 1,835,567 $ 683,174 $ — $ 4,474,656 Cost of sales (1,592,317 ) (1,468,154 ) (512,348 ) — (3,572,819 ) Gross margin 363,598 367,413 170,826 — 901,837 Selling, general and administrative expenses (203,674 ) (237,232 ) (57,796 ) — (498,702 ) Income (loss) from unconsolidated joint ventures 2,006 550 7,204 — 9,760 Equity income of subsidiaries 178,762 — — (178,762 ) — Interest income (expense), net 2,439 (1,724 ) (715 ) — — Other income (expense) (9,612 ) (543 ) 6,073 — (4,082 ) Homebuilding pretax income 333,519 128,464 125,592 (178,762 ) 408,813 Financial Services: Financial services pretax income — — 23,475 — 23,475 Income before taxes 333,519 128,464 149,067 (178,762 ) 432,288 Provision for income taxes (58,553 ) (61,411 ) (37,358 ) — (157,322 ) Net income $ 274,966 $ 67,053 $ 111,709 $ (178,762 ) $ 274,966 Nine Months Ended September 30, 2016 CalAtlantic Group, Inc. Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (Dollars in thousands) Homebuilding: Revenues $ 1,817,935 $ 1,866,598 $ 750,470 $ — $ 4,435,003 Cost of sales (1,451,579 ) (1,486,644 ) (533,543 ) — (3,471,766 ) Gross margin 366,356 379,954 216,927 — 963,237 Selling, general and administrative expenses (201,503 ) (220,595 ) (51,112 ) — (473,210 ) Income (loss) from unconsolidated joint ventures 29 444 2,170 — 2,643 Equity income of subsidiaries 229,414 — — (229,414 ) — Interest income (expense), net 3,685 (2,785 ) (900 ) — — Other income (expense) (10,885 ) (1,241 ) 134 — (11,992 ) Homebuilding pretax income 387,096 155,777 167,219 (229,414 ) 480,678 Financial Services: Financial services pretax income — — 24,889 — 24,889 Income before taxes 387,096 155,777 192,108 (229,414 ) 505,567 Provision for income taxes (69,327 ) (66,659 ) (51,812 ) — (187,798 ) Net income $ 317,769 $ 89,118 $ 140,296 $ (229,414 ) $ 317,769 CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2017 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (Dollars in thousands) ASSETS Homebuilding: Cash and equivalents $ 25,694 $ 31,465 $ 26,151 $ — $ 83,310 Restricted cash — — 29,620 — 29,620 Intercompany receivables 2,121,692 — 398,530 (2,520,222 ) — Inventories: Owned 3,208,403 2,279,408 1,458,955 — 6,946,766 Not owned 44,285 37,100 10,559 — 91,944 Investments in unconsolidated joint ventures 5,895 3,750 121,047 — 130,692 Investments in subsidiaries 2,131,970 — — (2,131,970 ) — Deferred income taxes, net 313,894 — — (6,643 ) 307,251 Goodwill 970,185 — 15,000 — 985,185 Other assets 172,296 43,380 19,459 — 235,135 Total Homebuilding Assets 8,994,314 2,395,103 2,079,321 (4,658,835 ) 8,809,903 Financial Services: Cash and equivalents — — 46,357 — 46,357 Restricted cash — — 21,205 — 21,205 Mortgage loans held for sale, net — — 160,068 — 160,068 Mortgage loans held for investment, net — — 25,510 — 25,510 Other assets — — 17,792 (1,801 ) 15,991 Total Financial Services Assets — — 270,932 (1,801 ) 269,131 Total Assets $ 8,994,314 $ 2,395,103 $ 2,350,253 $ (4,660,636 ) $ 9,079,034 LIABILITIES AND EQUITY Homebuilding: Accounts payable $ 95,533 $ 58,196 $ 24,023 $ — $ 177,752 Accrued liabilities and intercompany payables 365,920 1,260,516 1,066,124 (2,130,136 ) 562,424 Revolving credit facility 295,600 — — — 295,600 Secured project debt and other notes payable 424,662 — 17,018 (398,530 ) 43,150 Senior notes payable 3,483,388 — — — 3,483,388 Total Homebuilding Liabilities 4,665,103 1,318,712 1,107,165 (2,528,666 ) 4,562,314 Financial Services: Accounts payable and other liabilities — — 20,831 — 20,831 Mortgage credit facility — — 152,786 — 152,786 Total Financial Services Liabilities — — 173,617 — 173,617 Total Liabilities 4,665,103 1,318,712 1,280,782 (2,528,666 ) 4,735,931 Equity: Total Stockholders' Equity 4,329,211 1,076,391 1,055,579 (2,131,970 ) 4,329,211 Noncontrolling interest — — 13,892 — 13,892 Total Equity 4,329,211 1,076,391 1,069,471 (2,131,970 ) 4,343,103 Total Liabilities and Equity $ 8,994,314 $ 2,395,103 $ 2,350,253 $ (4,660,636 ) $ 9,079,034 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2016 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (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 facility — — 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 STATEMENTS OF CASH FLOWS Nine Months Ended September 30, 2017 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (Dollars in thousands) Cash Flows From Operating Activities: Net cash provided by (used in) operating activities $ (287,435 ) $ 16,744 $ 147,216 $ — $ (123,475 ) Cash Flows From Investing Activities: Investments in unconsolidated homebuilding joint ventures (178 ) (79 ) (32,955 ) — (33,212 ) Distributions of capital from unconsolidated homebuilding joint ventures 500 1,867 10,403 — 12,770 Net cash paid for acquisitions — — (44,477 ) — (44,477 ) Loan to parent and subsidiaries — — (65,054 ) 65,054 — Other investing activities (2,098 ) (1,519 ) (7,496 ) — (11,113 ) Net cash provided by (used in) investing activities (1,776 ) 269 (139,579 ) 65,054 (76,032 ) Cash Flows From Financing Activities: Change in restricted cash — — (794 ) — (794 ) Borrowings from revolving credit facility 685,550 — — — 685,550 Principal payments on revolving credit facility (389,950 ) — — — (389,950 ) Principal payments on secured project debt and other notes payable — — (909 ) — (909 ) Principal payment on senior notes payable (483,000 ) — — — (483,000 ) Proceeds from the issuance of senior notes payable 579,125 — — — 579,125 Payment of debt issuance costs (5,019 ) — — — (5,019 ) Loan from subsidiary 65,054 — — (65,054 ) — Net proceeds from (payments on) mortgage credit facility — — (94,641 ) — (94,641 ) (Contributions to) distributions from Corporate and subsidiaries 1,210 — (1,210 ) — — Repurchases of common stock (150,014 ) — — — (150,014 ) Common stock dividend payments (13,427 ) — — — (13,427 ) Issuance of common stock under employee stock plans, net of tax withholdings (5,807 ) — — — (5,807 ) Other financing activities — — (67 ) — (67 ) Intercompany advances, net (74,078 ) (23,759 ) 97,837 — — Net cash provided by (used in) financing activities 209,644 (23,759 ) 216 (65,054 ) 121,047 Net increase (decrease) in cash and equivalents (79,567 ) (6,746 ) 7,853 — (78,460 ) Cash and equivalents at beginning of period 105,261 38,211 64,655 — 208,127 Cash and equivalents at end of period $ 25,694 $ 31,465 $ 72,508 $ — $ 129,667 Nine Months Ended September 30, 2016 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (Dollars in thousands) Cash Flows From Operating Activities: Net cash provided by (used in) operating activities $ (49,169 ) $ 16,087 $ 200,744 $ — $ 167,662 Cash Flows From Investing Activities: Investments in unconsolidated homebuilding joint ventures (235 ) (192 ) (26,573 ) — (27,000 ) Distributions of capital from unconsolidated homebuilding joint ventures 1,107 333 22,287 — 23,727 Loan to parent and subsidiaries — — (88,800 ) 88,800 — Other investing activities (325 ) (1,958 ) (3,106 ) — (5,389 ) Net cash provided by (used in) investing activities 547 (1,817 ) (96,192 ) 88,800 (8,662 ) Cash Flows From Financing Activities: Change in restricted cash — — 7,309 — 7,309 Borrowings from revolving credit facility 1,008,000 — — — 1,008,000 Principal payments on revolving credit facility (862,000 ) — — — (862,000 ) Principal payments on secured project debt and other notes payable (9,985 ) — (404 ) — (10,389 ) 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 issue costs (2,657 ) — — — (2,657 ) Loan from subsidiary 88,800 — — (88,800 ) — Net proceeds from (payments on) mortgage credit facility — — (141,524 ) — (141,524 ) (Contributions to) distributions from Corporate and subsidiaries 18,350 — (18,350 ) — — Repurchases of common stock (137,464 ) — — — (137,464 ) Common stock dividend payments (14,264 ) — — — (14,264 ) Issuance of common stock under employee stock plans, net of tax withholdings 1,868 — — — 1,868 Other financing activities — (199 ) — — (199 ) Intercompany advances, net 49,757 (95,992 ) 46,235 — — Net cash provided by (used in) financing activities 160,405 (96,191 ) (106,734 ) (88,800 ) (131,320 ) Net increase (decrease) in cash and equivalents 111,783 (81,921 ) (2,182 ) — 27,680 Cash and equivalents at beginning of period 6,387 112,852 67,355 — 186,594 Cash and equivalents at end of period $ 118,170 $ 30,931 $ 65,173 $ — $ 214,274

Note 3 - Segment Reporting (Tab

Note 3 - Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Homebuilding revenues: North $ 282,591 $ 283,060 $ 848,438 $ 710,889 Southeast 427,244 400,720 1,207,616 1,065,038 Southwest 356,952 389,160 1,099,803 1,165,797 West 449,056 598,018 1,318,799 1,493,279 Total homebuilding revenues $ 1,515,843 $ 1,670,958 $ 4,474,656 $ 4,435,003 Homebuilding pretax income (1): North $ 25,895 $ 25,627 $ 74,492 $ 53,177 Southeast 30,094 31,303 85,695 84,125 Southwest 31,648 39,312 100,757 113,145 West 51,257 104,697 147,869 230,231 Total homebuilding pretax income $ 138,894 $ 200,939 $ 408,813 $ 480,678 Homebuilding income (loss) from unconsolidated joint ventures: North $ 78 $ 113 $ 525 $ 486 Southeast ― ― ― 437 Southwest 252 44 515 869 West 5,096 1,074 8,720 851 Total homebuilding income (loss) from unconsolidated joint ventures $ 5,426 $ 1,231 $ 9,760 $ 2,643
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	September 30, December 31, 2017 2016 (Dollars in thousands) Homebuilding assets: North $ 1,347,835 $ 1,181,544 Southeast 2,375,363 2,253,289 Southwest 1,895,329 1,842,869 West 2,706,155 2,500,163 Corporate 485,221 578,780 Total homebuilding assets $ 8,809,903 $ 8,356,645 Homebuilding investments in unconsolidated joint ventures: North $ 5,829 $ 5,691 Southeast 162 334 Southwest 4,855 6,085 West 119,846 115,017 Total homebuilding investments in unconsolidated joint ventures $ 130,692 $ 127,127

Note 4 - Earnings Per Common 29

Note 4 - Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands, except per share amounts) Numerator: Net income $ 93,352 $ 132,348 $ 274,966 $ 317,769 Less: Net income allocated to unvested restricted stock (400 ) (294 ) (1,104 ) (635 ) Net income available to common stockholders for basic earnings per common share 92,952 132,054 273,862 317,134 Effect of dilutive securities: Interest on 1.625% convertible senior notes due 2018 94 91 1,123 1,088 Interest on 0.25% convertible senior notes due 2019 85 82 1,016 984 Interest on 1.25% convertible senior notes due 2032 48 62 752 744 Net income available to common stock for diluted earnings per share $ 93,179 $ 132,289 $ 276,753 $ 319,950 Denominator: Weighted average basic common shares outstanding 110,205,460 118,338,891 112,778,362 119,188,145 Effect of dilutive securities: Share-based awards 875,214 643,602 881,500 605,860 1.625% convertible senior notes due 2018 7,174,013 7,165,845 7,174,013 7,165,845 0.25% convertible senior notes due 2019 3,642,200 3,638,080 3,642,200 3,638,080 1.25% convertible senior notes due 2032 2,553,025 6,290,997 5,045,404 6,290,997 Weighted average diluted shares outstanding 124,449,912 136,077,415 129,521,479 136,888,927 Income per common share: Basic $ 0.84 $ 1.12 $ 2.43 $ 2.66 Diluted $ 0.75 $ 0.97 $ 2.14 $ 2.34

Note 7 - Marketable Securitie30

Note 7 - Marketable Securities, Available-for-sale (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	September 30, 2017 December 31, 2016 Amortized Cost Gross Unrealized Losses Estimated Fair Value Amortized Cost Gross Unrealized Losses Estimated Fair Value (Dollars in thousands) Type of security: Municipal bond and metropolitan district securities $ 24,994 $ (465 ) $ 24,529 $ 18,563 $ (465 ) $ 18,098
Investments Classified by Contractual Maturity Date [Table Text Block]	September 30, 2017 (Dollars in thousands) Contractual maturity: Maturing in one year or less $ — Maturing after three years 24,529 Total marketable securities, available-for-sale $ 24,529

Note 8 - Inventories (Tables)

Note 8 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Inventories Owned [Table Text Block]	September 30, 2017 North Southeast Southwest West Total (Dollars in thousands) Land and land under development (1) $ 136,182 $ 993,953 $ 420,686 $ 1,335,910 $ 2,886,731 Homes completed and under construction 790,486 928,157 966,286 939,488 3,624,417 Model homes 57,518 112,197 102,969 162,934 435,618 Total inventories owned $ 984,186 $ 2,034,307 $ 1,489,941 $ 2,438,332 $ 6,946,766 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

Note 9 - Capitalization of In32

Note 9 - Capitalization of Interest (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Capitalized Interest [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Dollars in thousands) Total interest incurred (1) $ 52,972 $ 56,872 $ 156,845 $ 175,207 Less: Interest capitalized to inventories owned (1) (52,158 ) (55,761 ) (154,371 ) (172,170 ) Less: Interest capitalized to investments in unconsolidated joint ventures (814 ) (1,111 ) (2,474 ) (3,037 ) Interest expense $ — $ — $ — $ — Interest previously capitalized to inventories owned, included in cost of home sales $ 48,912 $ 44,636 $ 140,687 $ 115,367 Interest previously capitalized to inventories owned, included in cost of land sales $ — $ 115 $ — $ 1,596 Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures $ 5 $ 613 $ 13 $ 613 Interest capitalized in ending inventories owned (2) $ 379,884 $ 362,807 $ 379,884 $ 362,807 Interest capitalized as a percentage of inventories owned 5.5 % 5.6 % 5.5 % 5.6 % Interest capitalized in ending investments in unconsolidated joint ventures (2) $ 5,324 $ 3,224 $ 5,324 $ 3,224 Interest capitalized as a percentage of investments in unconsolidated joint ventures 4.1 % 2.3 % 4.1 % 2.3 %

Note 11 - Warranty Costs (Table

Note 11 - Warranty Costs (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Nine Months Ended September 30, 2017 2016 (Dollars in thousands) Warranty accrual, beginning of the period $ 43,932 $ 40,691 Warranty costs accrued during the period 16,097 16,903 Warranty costs paid during the period (18,303 ) (15,088 ) Warranty accrual, end of the period $ 41,726 $ 42,506

Note 14 - Senior Notes Payable

Note 14 - Senior Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Debt [Table Text Block]	September 30, December 31, 2017 2016 (Dollars in thousands) 8.4% Senior Notes due May 2017 ― $ 235,175 8.375% Senior Notes due May 2018 574,784 574,501 1.625% Convertible Senior Notes due May 2018 222,757 220,236 0.25% Convertible Senior notes due June 2019 258,035 253,777 6.625% Senior Notes due May 2020 315,430 319,909 8.375% Senior Notes due January 2021 396,087 395,246 6.25% Senior Notes due December 2021 297,980 297,623 5.375% Senior Notes due October 2022 249,331 249,230 5.875% Senior Notes due November 2024 426,558 296,982 5.25% Senior Notes due June 2026 395,323 297,483 5.00% Senior Notes due June 2027 347,103 ― 1.25% Convertible Senior Notes due August 2032 ― 252,046 $ 3,483,388 $ 3,392,208

Note 16 - Disclosures About F35

Note 16 - Disclosures About Fair Value (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value at Fair Value Hierarchy September 30, 2017 December 31, 2016 (Dollars in thousands) Marketable securities, available-for-sale Municipal debt securities Level 2 $ 9,387 $ 9,387 Metropolitan district bond securities Level 3 $ 15,142 $ 8,711 Mortgage loans held for sale Level 2 $ 163,352 $ 265,542
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	September 30, 2017 December 31, 2016 Description Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value (Dollars in thousands) Financial services assets: Mortgage loans held for investment, net 2 $ 25,510 $ 25,510 $ 24,924 $ 24,924 Homebuilding liabilities: Senior and convertible senior notes payable, net 2 $ 3,483,388 $ 3,753,098 $ 3,392,208 $ 3,617,838

Note 20 - Supplemental Disclo36

Note 20 - Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Nine Months Ended September 30, 2017 2016 (Dollars in thousands) Supplemental Disclosures of Cash Flow Information: Cash paid during the period for: Income taxes $ 177,332 $ 150,822 Supplemental Disclosures of Noncash Activities: Increase in secured project debt for assets acquired $ 16,480 $ 25,625

Note 21 - Supplemental Guaran37

Note 21 - Supplemental Guarantor Information (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Condensed Income Statement [Table Text Block]	Three Months Ended September 30, 2017 CalAtlantic Group, Inc. Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (Dollars in thousands) Homebuilding: Revenues $ 647,336 $ 632,262 $ 236,245 $ — $ 1,515,843 Cost of sales (528,858 ) (505,367 ) (178,483 ) — (1,212,708 ) Gross margin 118,478 126,895 57,762 — 303,135 Selling, general and administrative expenses (68,237 ) (80,147 ) (20,045 ) — (168,429 ) Income (loss) from unconsolidated joint ventures 981 252 4,193 — 5,426 Equity income of subsidiaries 62,765 — — (62,765 ) — Interest income (expense), net 845 (519 ) (326 ) — — Other income (expense) (3,714 ) (287 ) 2,763 — (1,238 ) Homebuilding pretax income 111,118 46,194 44,347 (62,765 ) 138,894 Financial Services: Financial services pretax income — — 7,278 — 7,278 Income before taxes 111,118 46,194 51,625 (62,765 ) 146,172 Provision for income taxes (17,766 ) (22,788 ) (12,266 ) — (52,820 ) Net income $ 93,352 $ 23,406 $ 39,359 $ (62,765 ) $ 93,352 Three Months Ended September 30, 2016 CalAtlantic Group, Inc. Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (Dollars in thousands) Homebuilding: Revenues $ 707,397 $ 656,095 $ 307,466 $ — $ 1,670,958 Cost of sales (561,856 ) (520,810 ) (213,600 ) — (1,296,266 ) Gross margin 145,541 135,285 93,866 — 374,692 Selling, general and administrative expenses (75,217 ) (75,834 ) (19,764 ) — (170,815 ) Income (loss) from unconsolidated joint ventures (717 ) 44 1,904 — 1,231 Equity income of subsidiaries 95,380 — — (95,380 ) — Interest income (expense), net 1,075 (886 ) (189 ) — — Other income (expense) (3,602 ) (762 ) 195 — (4,169 ) Homebuilding pretax income 162,460 57,847 76,012 (95,380 ) 200,939 Financial Services: Financial services pretax income — — 9,807 — 9,807 Income before taxes 162,460 57,847 85,819 (95,380 ) 210,746 Provision for income taxes (30,112 ) (23,111 ) (25,175 ) — (78,398 ) Net income $ 132,348 $ 34,736 $ 60,644 $ (95,380 ) $ 132,348 Nine Months Ended September 30, 2017 CalAtlantic Group, Inc. Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (Dollars in thousands) Homebuilding: Revenues $ 1,955,915 $ 1,835,567 $ 683,174 $ — $ 4,474,656 Cost of sales (1,592,317 ) (1,468,154 ) (512,348 ) — (3,572,819 ) Gross margin 363,598 367,413 170,826 — 901,837 Selling, general and administrative expenses (203,674 ) (237,232 ) (57,796 ) — (498,702 ) Income (loss) from unconsolidated joint ventures 2,006 550 7,204 — 9,760 Equity income of subsidiaries 178,762 — — (178,762 ) — Interest income (expense), net 2,439 (1,724 ) (715 ) — — Other income (expense) (9,612 ) (543 ) 6,073 — (4,082 ) Homebuilding pretax income 333,519 128,464 125,592 (178,762 ) 408,813 Financial Services: Financial services pretax income — — 23,475 — 23,475 Income before taxes 333,519 128,464 149,067 (178,762 ) 432,288 Provision for income taxes (58,553 ) (61,411 ) (37,358 ) — (157,322 ) Net income $ 274,966 $ 67,053 $ 111,709 $ (178,762 ) $ 274,966 Nine Months Ended September 30, 2016 CalAtlantic Group, Inc. Guarantor Subsidiaries Non- Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (Dollars in thousands) Homebuilding: Revenues $ 1,817,935 $ 1,866,598 $ 750,470 $ — $ 4,435,003 Cost of sales (1,451,579 ) (1,486,644 ) (533,543 ) — (3,471,766 ) Gross margin 366,356 379,954 216,927 — 963,237 Selling, general and administrative expenses (201,503 ) (220,595 ) (51,112 ) — (473,210 ) Income (loss) from unconsolidated joint ventures 29 444 2,170 — 2,643 Equity income of subsidiaries 229,414 — — (229,414 ) — Interest income (expense), net 3,685 (2,785 ) (900 ) — — Other income (expense) (10,885 ) (1,241 ) 134 — (11,992 ) Homebuilding pretax income 387,096 155,777 167,219 (229,414 ) 480,678 Financial Services: Financial services pretax income — — 24,889 — 24,889 Income before taxes 387,096 155,777 192,108 (229,414 ) 505,567 Provision for income taxes (69,327 ) (66,659 ) (51,812 ) — (187,798 ) Net income $ 317,769 $ 89,118 $ 140,296 $ (229,414 ) $ 317,769
Condensed Balance Sheet [Table Text Block]	September 30, 2017 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (Dollars in thousands) ASSETS Homebuilding: Cash and equivalents $ 25,694 $ 31,465 $ 26,151 $ — $ 83,310 Restricted cash — — 29,620 — 29,620 Intercompany receivables 2,121,692 — 398,530 (2,520,222 ) — Inventories: Owned 3,208,403 2,279,408 1,458,955 — 6,946,766 Not owned 44,285 37,100 10,559 — 91,944 Investments in unconsolidated joint ventures 5,895 3,750 121,047 — 130,692 Investments in subsidiaries 2,131,970 — — (2,131,970 ) — Deferred income taxes, net 313,894 — — (6,643 ) 307,251 Goodwill 970,185 — 15,000 — 985,185 Other assets 172,296 43,380 19,459 — 235,135 Total Homebuilding Assets 8,994,314 2,395,103 2,079,321 (4,658,835 ) 8,809,903 Financial Services: Cash and equivalents — — 46,357 — 46,357 Restricted cash — — 21,205 — 21,205 Mortgage loans held for sale, net — — 160,068 — 160,068 Mortgage loans held for investment, net — — 25,510 — 25,510 Other assets — — 17,792 (1,801 ) 15,991 Total Financial Services Assets — — 270,932 (1,801 ) 269,131 Total Assets $ 8,994,314 $ 2,395,103 $ 2,350,253 $ (4,660,636 ) $ 9,079,034 LIABILITIES AND EQUITY Homebuilding: Accounts payable $ 95,533 $ 58,196 $ 24,023 $ — $ 177,752 Accrued liabilities and intercompany payables 365,920 1,260,516 1,066,124 (2,130,136 ) 562,424 Revolving credit facility 295,600 — — — 295,600 Secured project debt and other notes payable 424,662 — 17,018 (398,530 ) 43,150 Senior notes payable 3,483,388 — — — 3,483,388 Total Homebuilding Liabilities 4,665,103 1,318,712 1,107,165 (2,528,666 ) 4,562,314 Financial Services: Accounts payable and other liabilities — — 20,831 — 20,831 Mortgage credit facility — — 152,786 — 152,786 Total Financial Services Liabilities — — 173,617 — 173,617 Total Liabilities 4,665,103 1,318,712 1,280,782 (2,528,666 ) 4,735,931 Equity: Total Stockholders' Equity 4,329,211 1,076,391 1,055,579 (2,131,970 ) 4,329,211 Noncontrolling interest — — 13,892 — 13,892 Total Equity 4,329,211 1,076,391 1,069,471 (2,131,970 ) 4,343,103 Total Liabilities and Equity $ 8,994,314 $ 2,395,103 $ 2,350,253 $ (4,660,636 ) $ 9,079,034 December 31, 2016 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (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 facility — — 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 Cash Flow Statement [Table Text Block]	Nine Months Ended September 30, 2017 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (Dollars in thousands) Cash Flows From Operating Activities: Net cash provided by (used in) operating activities $ (287,435 ) $ 16,744 $ 147,216 $ — $ (123,475 ) Cash Flows From Investing Activities: Investments in unconsolidated homebuilding joint ventures (178 ) (79 ) (32,955 ) — (33,212 ) Distributions of capital from unconsolidated homebuilding joint ventures 500 1,867 10,403 — 12,770 Net cash paid for acquisitions — — (44,477 ) — (44,477 ) Loan to parent and subsidiaries — — (65,054 ) 65,054 — Other investing activities (2,098 ) (1,519 ) (7,496 ) — (11,113 ) Net cash provided by (used in) investing activities (1,776 ) 269 (139,579 ) 65,054 (76,032 ) Cash Flows From Financing Activities: Change in restricted cash — — (794 ) — (794 ) Borrowings from revolving credit facility 685,550 — — — 685,550 Principal payments on revolving credit facility (389,950 ) — — — (389,950 ) Principal payments on secured project debt and other notes payable — — (909 ) — (909 ) Principal payment on senior notes payable (483,000 ) — — — (483,000 ) Proceeds from the issuance of senior notes payable 579,125 — — — 579,125 Payment of debt issuance costs (5,019 ) — — — (5,019 ) Loan from subsidiary 65,054 — — (65,054 ) — Net proceeds from (payments on) mortgage credit facility — — (94,641 ) — (94,641 ) (Contributions to) distributions from Corporate and subsidiaries 1,210 — (1,210 ) — — Repurchases of common stock (150,014 ) — — — (150,014 ) Common stock dividend payments (13,427 ) — — — (13,427 ) Issuance of common stock under employee stock plans, net of tax withholdings (5,807 ) — — — (5,807 ) Other financing activities — — (67 ) — (67 ) Intercompany advances, net (74,078 ) (23,759 ) 97,837 — — Net cash provided by (used in) financing activities 209,644 (23,759 ) 216 (65,054 ) 121,047 Net increase (decrease) in cash and equivalents (79,567 ) (6,746 ) 7,853 — (78,460 ) Cash and equivalents at beginning of period 105,261 38,211 64,655 — 208,127 Cash and equivalents at end of period $ 25,694 $ 31,465 $ 72,508 $ — $ 129,667 Nine Months Ended September 30, 2016 CalAtlantic Group, Inc. Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Consolidated CalAtlantic (Dollars in thousands) Cash Flows From Operating Activities: Net cash provided by (used in) operating activities $ (49,169 ) $ 16,087 $ 200,744 $ — $ 167,662 Cash Flows From Investing Activities: Investments in unconsolidated homebuilding joint ventures (235 ) (192 ) (26,573 ) — (27,000 ) Distributions of capital from unconsolidated homebuilding joint ventures 1,107 333 22,287 — 23,727 Loan to parent and subsidiaries — — (88,800 ) 88,800 — Other investing activities (325 ) (1,958 ) (3,106 ) — (5,389 ) Net cash provided by (used in) investing activities 547 (1,817 ) (96,192 ) 88,800 (8,662 ) Cash Flows From Financing Activities: Change in restricted cash — — 7,309 — 7,309 Borrowings from revolving credit facility 1,008,000 — — — 1,008,000 Principal payments on revolving credit facility (862,000 ) — — — (862,000 ) Principal payments on secured project debt and other notes payable (9,985 ) — (404 ) — (10,389 ) 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 issue costs (2,657 ) — — — (2,657 ) Loan from subsidiary 88,800 — — (88,800 ) — Net proceeds from (payments on) mortgage credit facility — — (141,524 ) — (141,524 ) (Contributions to) distributions from Corporate and subsidiaries 18,350 — (18,350 ) — — Repurchases of common stock (137,464 ) — — — (137,464 ) Common stock dividend payments (14,264 ) — — — (14,264 ) Issuance of common stock under employee stock plans, net of tax withholdings 1,868 — — — 1,868 Other financing activities — (199 ) — — (199 ) Intercompany advances, net 49,757 (95,992 ) 46,235 — — Net cash provided by (used in) financing activities 160,405 (96,191 ) (106,734 ) (88,800 ) (131,320 ) Net increase (decrease) in cash and equivalents 111,783 (81,921 ) (2,182 ) — 27,680 Cash and equivalents at beginning of period 6,387 112,852 67,355 — 186,594 Cash and equivalents at end of period $ 118,170 $ 30,931 $ 65,173 $ — $ 214,274

Note 3 - Segment Reporting (Det

Note 3 - Segment Reporting (Details Textual) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Number of Operating Segments			2
Number of Reportable Segments			4
Homebuilding [Member] | North [Member]
Depreciation, Depletion and Amortization, Nonproduction	$ 2	$ 1.7	$ 5.6	$ 4.5
Homebuilding [Member] | Southeast [Member]
Depreciation, Depletion and Amortization, Nonproduction	4.5	4.2	12.2	11.2
Homebuilding [Member] | Southwest [Member]
Depreciation, Depletion and Amortization, Nonproduction	2.3	2.8	7.8	8.6
Homebuilding [Member] | West [Member]
Depreciation, Depletion and Amortization, Nonproduction	$ 5.3	$ 7.1	$ 16.1	$ 18.9

Note 3 - Segment Reporting - Se

Note 3 - Segment Reporting - Segment Financial Information Relating to Homebuilding Operations (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Homebuilding revenues		$ 1,515,843	$ 1,670,958	$ 4,474,656	$ 4,435,003
Homebuilding pretax income		138,894	200,939	408,813	480,678
Homebuilding income (loss) from unconsolidated joint ventures		5,426	1,231	9,760	2,643
Homebuilding [Member]
Homebuilding revenues		1,515,843	1,670,958	4,474,656	4,435,003
Homebuilding pretax income	[1]	138,894	200,939	408,813	480,678
Homebuilding income (loss) from unconsolidated joint ventures		5,426	1,231	9,760	2,643
Homebuilding [Member] | North [Member]
Homebuilding revenues		282,591	283,060	848,438	710,889
Homebuilding pretax income	[1]	25,895	25,627	74,492	53,177
Homebuilding income (loss) from unconsolidated joint ventures		78	113	525	486
Homebuilding [Member] | Southeast [Member]
Homebuilding revenues		427,244	400,720	1,207,616	1,065,038
Homebuilding pretax income	[1]	30,094	31,303	85,695	84,125
Homebuilding income (loss) from unconsolidated joint ventures					437
Homebuilding [Member] | Southwest [Member]
Homebuilding revenues		356,952	389,160	1,099,803	1,165,797
Homebuilding pretax income	[1]	31,648	39,312	100,757	113,145
Homebuilding income (loss) from unconsolidated joint ventures		252	44	515	869
Homebuilding [Member] | West [Member]
Homebuilding revenues		449,056	598,018	1,318,799	1,493,279
Homebuilding pretax income	[1]	51,257	104,697	147,869	230,231
Homebuilding income (loss) from unconsolidated joint ventures		$ 5,096	$ 1,074	$ 8,720	$ 851
[1]	Homebuilding pretax income includes depreciation and amortization expense of $2.0 million, $4.5 million, $2.3 million and $5.3 million, respectively, in the North, Southeast, Southwest and West for the quarter ended September 30, 2017 and $1.7 million, $4.2 million, $2.8 million and $7.1 million, respectively, in the North, Southeast, Southwest and West for the quarter ended September 30, 2016. Homebuilding pretax income includes depreciation and amortization expense of $5.6 million, $12.2 million, $7.8 million and $16.1 million, respectively, in the North, Southeast, Southwest and West for the nine months ended September 30, 2017 and $4.5 million, $11.2 million, $8.6 million and $18.9 million, respectively, in the North, Southeast, Southwest and West for the nine months ended September 30, 2016.

Note 3 - Segment Reporting - 40

Note 3 - Segment Reporting - Segment Financial Information Relating to Homebuilding Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets	$ 9,079,034	$ 8,709,044
Homebuilding [Member]
Assets	8,809,903	8,356,645
Homebuilding investments in unconsolidated joint ventures	130,692	127,127
Homebuilding [Member] | Corporate, Non-Segment [Member]
Assets	485,221	578,780
Homebuilding [Member] | North [Member]
Assets	1,347,835	1,181,544
Homebuilding investments in unconsolidated joint ventures	5,829	5,691
Homebuilding [Member] | Southeast [Member]
Assets	2,375,363	2,253,289
Homebuilding investments in unconsolidated joint ventures	162	334
Homebuilding [Member] | Southwest [Member]
Assets	1,895,329	1,842,869
Homebuilding investments in unconsolidated joint ventures	4,855	6,085
Homebuilding [Member] | West [Member]
Assets	2,706,155	2,500,163
Homebuilding investments in unconsolidated joint ventures	$ 119,846	$ 115,017

Note 4 - Earnings Per Common 41

Note 4 - Earnings Per Common Share - Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net income	$ 93,352	$ 132,348	$ 274,966	$ 317,769
Less: Net income allocated to unvested restricted stock	(400)	(294)	(1,104)	(635)
Net income available to common stockholders for basic earnings per common share	92,952	132,054	273,862	317,134
Effect of dilutive securities:
Net income available to common stock for diluted earnings per share	$ 93,179	$ 132,289	$ 276,753	$ 319,950
Weighted average basic common shares outstanding (in shares)	110,205,460	118,338,891	112,778,362	119,188,145
Share-based awards (in shares)	875,214	643,602	881,500	605,860
Weighted average diluted shares outstanding (in shares)	124,449,912	136,077,415	129,521,479	136,888,927
Income Per Common Share:
Basic (in dollars per share)	$ 0.84	$ 1.12	$ 2.43	$ 2.66
Diluted (in dollars per share)	$ 0.75	$ 0.97	$ 2.14	$ 2.34
1.625% Convertible Senior Notes due May 2018 [Member]
Effect of dilutive securities:
Interest on convertible senior notes	$ 94	$ 91	$ 1,123	$ 1,088
Interest on convertible senior notes (in shares)	7,174,013	7,165,845	7,174,013	7,165,845
0.25% Convertible Senior Notes Due June 2019 [Member]
Effect of dilutive securities:
Interest on convertible senior notes	$ 85	$ 82	$ 1,016	$ 984
Interest on convertible senior notes (in shares)	3,642,200	3,638,080	3,642,200	3,638,080
1.25% Convertible Senior Notes Due August 2032 [Member]
Effect of dilutive securities:
Interest on convertible senior notes	$ 48	$ 62	$ 752	$ 744
Interest on convertible senior notes (in shares)	2,553,025	6,290,997	5,045,404	6,290,997

Note 4 - Earnings Per Common 42

Note 4 - Earnings Per Common Share - Basic and Diluted Earnings Per Common Share (Details) (Parentheticals)	Sep. 30, 2017	Aug. 31, 2017	Sep. 30, 2016	Mar. 31, 2016
1.625% Convertible Senior Notes due May 2018 [Member]
Interest rate	1.625%		1.625%	1.625%
0.25% Convertible Senior Notes Due June 2019 [Member]
Interest rate	0.25%		0.25%
1.25% Convertible Senior Notes Due August 2032 [Member]
Interest rate	1.25%	1.25%	1.25%

Note 5 - Stock-based Compensa43

Note 5 - Stock-based Compensation (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Allocated Share-based Compensation Expense	$ 5.1	$ 3.7	$ 14.3	$ 11.2
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 31.3		$ 31.3
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			2 years 73 days

Note 6 - Cash and Equivalents44

Note 6 - Cash and Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Cash and Cash Equivalents, at Carrying Value	$ 129,667	$ 208,127	$ 214,274	$ 186,594
Homebuilding [Member]
Cash and Cash Equivalents, at Carrying Value	83,310	191,086
Restricted Cash and Cash Equivalents	29,620	28,321
Financial Services [Member]
Cash and Cash Equivalents, at Carrying Value	46,357	17,041
Restricted Cash and Cash Equivalents	21,205	$ 21,710
Cash From Home Closings in Escrow [Member]
Cash and Cash Equivalents, at Carrying Value	80,800
Held in Cash Collateral Accounts [Member] | Homebuilding [Member]
Restricted Cash and Cash Equivalents	29,600
Held in Cash Collateral Accounts [Member] | Financial Services [Member]
Restricted Cash and Cash Equivalents	17,700
Financial Service Subsidiary Mortgage Credit Facilities [Member] | Financial Services [Member]
Restricted Cash and Cash Equivalents	3,000
Funds Held in Trust for Third Parties [Member] | Financial Services [Member]
Restricted Cash and Cash Equivalents	$ 500

Note 7 - Marketable Securitie45

Note 7 - Marketable Securities, Available-for-sale (Details Textual)	9 Months Ended
	Sep. 30, 2017USD ($)
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	$ 172,000
Available-for-sale Securities [Member]
Realized Investment Gains (Losses)	$ 173,000

Note 7 - Marketable Securitie46

Note 7 - Marketable Securities, Available-for-sale - Fair Values by Type of Security (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Gross unrealized losses	$ (172,000)
Estimated fair value	24,529,000
Municipal Bond and Metropolitan District Securities [Member]
Amortized cost	24,994,000	$ 18,563,000
Gross unrealized losses	(465,000)	(465,000)
Estimated fair value	$ 24,529,000	$ 18,098,000

Note 7 - Marketable Securitie47

Note 7 - Marketable Securities, Available-for-sale - Contractual Maturity (Details) $ in Thousands	Sep. 30, 2017USD ($)
Maturing in one year or less	$ 0
Maturing after three years	24,529
Total marketable securities, available-for-sale	$ 24,529

Note 8 - Inventories (Details T

Note 8 - Inventories (Details Textual) $ in Thousands	3 Months Ended	9 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Inventory, Real Estate, Land and Land Development Costs, Land Purchased During Period		$ 732,400		$ 960,800
Inventory, Real Estate, Number of Homesites Purchased During the Period		10,694		13,566
Number of Active and Future Projects Owned		901	879
Impairment of Real Estate		$ 0	$ 0
Homebuilding Operations from Seattle-based Developer [Member]
Business Combination, Number of Current and Future Communities Acquired	19
Business Combination, Consideration Transferred	$ 44,500
Goodwill	15,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	100
Homebuilding Operations from Seattle-based Developer [Member] | Inventory Owned [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	25,700
Homebuilding Operations from Seattle-based Developer [Member] | Inventory Not Owned [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	$ 3,900
Homebuilding [Member]
Goodwill		$ 985,185		$ 970,185
Homebuilding [Member] | North [Member]
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category		27.00%		25.00%
Homebuilding [Member] | Southeast [Member]
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category		34.00%		25.00%
Homebuilding [Member] | Southwest [Member]
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category		18.00%		24.00%
Homebuilding [Member] | West [Member]
Inventory, Real Estate, Land Purchased During Period, Percentage of Homesites Included in a Certain Category		21.00%		26.00%

Note 8 - Inventories - Inventor

Note 8 - Inventories - Inventories Owned (Details) - Homebuilding [Member] - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Land and land under development	[1]	$ 2,886,731	$ 3,627,740
Homes completed and under construction		3,624,417	2,304,109
Model homes		435,618	506,943
Total inventories owned		6,946,766	6,438,792
North [Member]
Land and land under development	[1]	136,182	445,245
Homes completed and under construction		790,486	327,421
Model homes		57,518	79,306
Total inventories owned		984,186	851,972
Southeast [Member]
Land and land under development	[1]	993,953	1,177,646
Homes completed and under construction		928,157	585,938
Model homes		112,197	132,968
Total inventories owned		2,034,307	1,896,552
Southwest [Member]
Land and land under development	[1]	420,686	594,585
Homes completed and under construction		966,286	710,509
Model homes		102,969	116,575
Total inventories owned		1,489,941	1,421,669
West [Member]
Land and land under development	[1]	1,335,910	1,410,264
Homes completed and under construction		939,488	680,241
Model homes		162,934	178,094
Total inventories owned		$ 2,438,332	$ 2,268,599
[1]	During the nine months ended September 30, 2017, we purchased $304.7 million of land (10,694 homesites), of which 27% (based on homesites) were located in the North, 34% in the Southeast, 18% in the Southwest, and 21% in the West. 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.

Note 9 - Capitalization of In50

Note 9 - Capitalization of Interest (Details Textual) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Mar. 31, 2016
Capitalized Interest Transferred from Investments in Unconsolidated Joint Ventures to Inventories Owned	$ 0	$ 500,000
1.625% Convertible Senior Notes due May 2018 [Member]
Debt Instrument, Increase (Decrease) In Interest Incurred, Net of Interest Capitalized, Valuation of Business Combination			$ 9,000,000
Debt Instrument, Interest Rate, Stated Percentage	1.625%	1.625%	1.625%	1.625%

Note 9 - Capitalization of In51

Note 9 - Capitalization of Interest - Homebuilding Capitalized Interest (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Total interest incurred	[1]	$ 52,972	$ 56,872	$ 156,845	$ 175,207
Less: Interest capitalized to inventories owned	[1]	(52,158)	(55,761)	(154,371)	(172,170)
Less: Interest capitalized to investments in unconsolidated joint ventures		(814)	(1,111)	(2,474)	(3,037)
Interest expense
Interest previously capitalized to inventories owned, included in cost of home sales		48,912	44,636	140,687	115,367
Interest previously capitalized to inventories owned, included in cost of land sales			115		1,596
Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures		5	613	13	613
Interest capitalized in ending inventories owned	[2]	$ 379,884	$ 362,807	$ 379,884	$ 362,807
Interest capitalized as a percentage of inventories owned		5.50%	5.60%	5.50%	5.60%
Interest capitalized in ending investments in unconsolidated joint ventures	[2]	$ 5,324	$ 3,224	$ 5,324	$ 3,224
Interest capitalized as a percentage of investments in unconsolidated joint ventures		4.10%	2.30%	4.10%	2.30%
[1]	Total interest incurred and interest capitalized to inventories owned during the nine months ended September 30, 2016 includes a $9 million increase related to the valuation of the 1.625% convertible senior notes that was completed during the 2016 first quarter.
[2]	During the three and nine months ended September 30, 2017, in connection with lot purchases from our joint ventures, $0 and $0.5 million, respectively, of capitalized interest was transferred from investments in unconsolidated joint ventures to inventories owned.

Note 10 - Investments in Unco52

Note 10 - Investments in Unconsolidated Land Development and Homebuilding Joint Ventures (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Asset Impairment Charges	$ 0	$ 1,000	$ 0	$ 1,000
Stockholders' Equity Attributable to Noncontrolling Interest	$ 13,892		$ 13,892

Note 11 - Warranty Costs - Warr

Note 11 - Warranty Costs - Warranty Accrual (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Warranty accrual	$ 43,932	$ 40,691
Warranty costs accrued during the period	16,097	16,903
Warranty costs paid during the period	(18,303)	(15,088)
Warranty accrual	$ 41,726	$ 42,506

Note 12 - Revolving Credit Fa54

Note 12 - Revolving Credit Facility and Letter of Credit Facilities (Details Textual) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Cash Collateral Deposits	$ 22.8
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.24%
Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	4.25%
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	0.75%
Unsecured Revolving Credit Facility [Member]
Line of Credit Facility, Current Borrowing Capacity	$ 750
Line of Credit Facility, Maximum Borrowing Capacity	1,200
Line of Credit Facility Covenant, Minimum Tangible Net Worth Requirement	$ 1,650
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	$ 295.6
Letters of Credit Outstanding, Amount	119.2
Line of Credit Facility, Remaining Borrowing Capacity	$ 335.2
Unsecured Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	1.75%
Letter of Credit [Member]
Line of Credit Facility, Current Borrowing Capacity	$ 350
Letter of Credit [Member] | Four Committed Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	48
Letters of Credit Outstanding, Amount	$ 22.4

Note 13 - Secured Project Deb55

Note 13 - Secured Project Debt and Other Notes Payable (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Homebuilding [Member]
Secured Debt	$ 43,150	$ 27,579

Note 14 - Senior Notes Payabl56

Note 14 - Senior Notes Payable (Details Textual) - USD ($)	1 Months Ended			9 Months Ended
	Aug. 31, 2017	May 31, 2017	Apr. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017	Mar. 31, 2016
Proceeds from Issuance of Senior Long-term Debt			$ 225,000,000	$ 579,125,000	$ 300,000,000
Repayments of Senior Debt				$ 483,000,000	$ 280,000,000
1.625% Convertible Senior Notes due May 2018 [Member]
Debt Instrument, Interest Rate, Stated Percentage				1.625%	1.625%		1.625%
Debt Instrument, Convertible, Conversion Ratio				31.8845
Debt Instrument, Convertible Principal Amount used in Conversion Rate Calculation				$ 1,000
Debt Instrument, Convertible, Conversion Price				$ 31.36
0.25% Convertible Senior Notes Due June 2019 [Member]
Debt Instrument, Interest Rate, Stated Percentage				0.25%	0.25%
Debt Instrument, Convertible, Conversion Ratio				13.6157
Debt Instrument, Convertible Principal Amount used in Conversion Rate Calculation				$ 1,000
Debt Instrument, Convertible, Conversion Price				$ 73.44
Debt Instrument, Convertible, Threshold Trading Days				20
Debt Instrument, Convertible, Threshold Consecutive Trading Days				30
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
Debt Instrument, Convertible, Condition of Redemption, Stock Price Threshold				130.00%
Debt Instrument, Redemption Price, Percentage				100.00%
5.875% Senior Notes Due November 2024 [Member]
Debt Instrument, Interest Rate, Stated Percentage			5.875%
Proceeds from Issuance of Senior Long-term Debt			$ 125,000,000
5.25% Senior Notes due June 2026 [Member]
Debt Instrument, Interest Rate, Stated Percentage			5.25%
Proceeds from Issuance of Senior Long-term Debt			$ 100,000,000
8.4% Senior Notes Due May 2017 [Member]
Debt Instrument, Interest Rate, Stated Percentage			8.40%
Repayments of Senior Debt		$ 230,000,000
5.00% Senior Notes Due 2027 [Member]
Debt Instrument, Interest Rate, Stated Percentage						5.00%
Debt Instrument, Face Amount						$ 350,000,000
1.25% Convertible Senior Notes Due August 2032 [Member]
Debt Instrument, Interest Rate, Stated Percentage	1.25%			1.25%	1.25%
Debt Instrument, Redemption Price, Percentage	100.00%
Repayments of Senior Debt	$ 253,000,000

Note 14 - Senior Notes Payabl57

Note 14 - Senior Notes Payable - Senior Notes Payable (Details) - Homebuilding [Member] - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Senior notes payable	$ 3,483,388	$ 3,392,208
8.4% Senior Notes Due May 2017 [Member]
Senior notes payable		235,175
8.375% Senior Notes Due May 2018 [Member]
Senior notes payable	574,784	574,501
1.625% Convertible Senior Notes due May 2018 [Member]
Senior notes payable	222,757	220,236
0.25% Convertible Senior Notes Due June 2019 [Member]
Senior notes payable	258,035	253,777
6.625% Senior Notes due May 2020 [Member]
Senior notes payable	315,430	319,909
8.375% Senior Notes Due January 2021 [Member]
Senior notes payable	396,087	395,246
6.25% Senior Notes Due December 15, 2021 [Member]
Senior notes payable	297,980	297,623
5.375% Senior Notes Due October 2022 [Member]
Senior notes payable	249,331	249,230
5.875% Senior Notes Due November 2024 [Member]
Senior notes payable	426,558	296,982
5.25% Senior Notes due June 2026 [Member]
Senior notes payable	395,323	297,483
5.00% Senior Notes Due 2027 [Member]
Senior notes payable	347,103
1.25% Convertible Senior Notes Due August 2032 [Member]
Senior notes payable		$ 252,046

Note 14 - Senior Notes Payabl58

Note 14 - Senior Notes Payable - Senior Notes Payable (Details) (Parentheticals)	Sep. 30, 2017	Aug. 31, 2017	Jun. 30, 2017	Apr. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Mar. 31, 2016
8.4% Senior Notes Due May 2017 [Member]
Interest rate				8.40%
1.625% Convertible Senior Notes due May 2018 [Member]
Interest rate	1.625%					1.625%	1.625%
0.25% Convertible Senior Notes Due June 2019 [Member]
Interest rate	0.25%					0.25%
5.875% Senior Notes Due November 2024 [Member]
Interest rate				5.875%
5.25% Senior Notes due June 2026 [Member]
Interest rate				5.25%
5.00% Senior Notes Due 2027 [Member]
Interest rate			5.00%
1.25% Convertible Senior Notes Due August 2032 [Member]
Interest rate	1.25%	1.25%				1.25%
Homebuilding [Member] | 8.4% Senior Notes Due May 2017 [Member]
Interest rate					8.40%
Homebuilding [Member] | 8.375% Senior Notes Due May 2018 [Member]
Interest rate	8.375%				8.375%
Homebuilding [Member] | 1.625% Convertible Senior Notes due May 2018 [Member]
Interest rate	1.625%				1.625%
Homebuilding [Member] | 0.25% Convertible Senior Notes Due June 2019 [Member]
Interest rate	0.25%				0.25%
Homebuilding [Member] | 6.625% Senior Notes due May 2020 [Member]
Interest rate	6.625%				6.625%
Homebuilding [Member] | 8.375% Senior Notes Due January 2021 [Member]
Interest rate	8.375%				8.375%
Homebuilding [Member] | 6.25% Senior Notes Due December 15, 2021 [Member]
Interest rate	6.25%				6.25%
Homebuilding [Member] | 5.375% Senior Notes Due October 2022 [Member]
Interest rate	5.375%				5.375%
Homebuilding [Member] | 5.875% Senior Notes Due November 2024 [Member]
Interest rate	5.875%				5.875%
Homebuilding [Member] | 5.25% Senior Notes due June 2026 [Member]
Interest rate	5.25%				5.25%
Homebuilding [Member] | 5.00% Senior Notes Due 2027 [Member]
Interest rate	5.00%
Homebuilding [Member] | 1.25% Convertible Senior Notes Due August 2032 [Member]
Interest rate	1.25%				1.25%

Note 15 - Mortgage Credit Fac59

Note 15 - Mortgage Credit Facility (Details Textual) - Financial Services [Member] - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Warehouse Agreement Borrowings	$ 152,786	$ 247,427
Standard Pacific [Member]
Cash Collateral for Borrowed Securities	3,000
Maturing January 2017 [Member] | Repurchase Facility [Member] | First Lender [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 300,000

Note 16 - Disclosures About F60

Note 16 - Disclosures About Fair Value - Financial Instruments Measured On a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Marketable securities, available-for-sale
Marketable securities, available-for-sale	$ 24,529
Fair Value, Inputs, Level 2 [Member]
Marketable securities, available-for-sale
Mortgage loans held for sale	163,352	$ 265,542
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member]
Marketable securities, available-for-sale
Marketable securities, available-for-sale	9,387	9,387
Fair Value, Inputs, Level 3 [Member] | Metropolitan District Bond Securities [Member]
Marketable securities, available-for-sale
Marketable securities, available-for-sale	$ 15,142	$ 8,711

Note 16 - Disclosures About F61

Note 16 - Disclosures About Fair Value - Financial Instruments With Fair Value Option Not Elected (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Financial Services [Member] | Reported Value Measurement [Member]
Mortgage loans held for investment, net	$ 25,510	$ 24,924
Financial Services [Member] | Estimate of Fair Value Measurement [Member]
Mortgage loans held for investment, net	25,510	24,924
Homebuilding [Member] | Reported Value Measurement [Member]
Senior and convertible senior notes payable, net	3,483,388	3,392,208
Homebuilding [Member] | Estimate of Fair Value Measurement [Member]
Senior and convertible senior notes payable, net	$ 3,753,098	$ 3,617,838

Note 17 - Commitments and Con62

Note 17 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Nonrefundable Cash Deposits	$ 80,300
Capitalized Preacquisition and Other Development and Construction Costs	31,300
Remaining Purchase Price of Land Purchase and Option Contracts	$ 995,100
Number of Joint Ventures the Company Holds Membership Interest In	28
Number of Active Joint Ventures	14
Number of Inactive Joint Ventures	14
Number of Joint Ventures Having Project Specific Non-recourse Debt to the Company	0
Outstanding Joint Venture Surety Bonds	$ 0
Outstanding Surety Bonds	1,002,200
Surety Bonds Cost to Complete	506,100
Mortgage Loans in Process	$ 291,600
Mortgage Loans in Process, Interest Rate	4.00%
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage	$ 163,400
Mortgage Loans Committed to Sell to Investors	33,300
Gain (Loss) on Mortgage Loan Related to Indemnification and Repurchase Allowance	300	$ 100
Mortgage Loan Repurchase Reserve	3,800		$ 3,600
Mortgage Loan Repurchase Payments	100	$ 300
Insurance and Litigation Accruals	233,800		$ 233,500
Mortgage Loans in Process [Member]
Mortgage Loans Expected to be Originated on a Non-presold Basis	$ 258,300

Note 18 - Income Taxes (Details

Note 18 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Income Tax Expense (Benefit)	$ 52,820	$ 78,398	$ 157,322	$ 187,798
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	146,172	$ 210,746	432,288	$ 505,567
Deferred Tax Assets, Operating Loss Carryforwards	96,000		96,000
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	15,600		15,600
Deferred Tax Assets, Other	192,100		192,100
Unrecognized Tax Benefits	14,000		$ 14,000		$ 12,100
Latest Tax Year [Member]
Open Tax Year			2,016
Earliest Tax Year [Member]
Open Tax Year			2,012
State and Local Net Operating Loss Carryforwards Limited to Shorter Carryforward Periods [Member]
Deferred Tax Assets, Gross	309,200		$ 309,200
Deferred Tax Assets, Valuation Allowance	1,900		1,900
Subject to 382 Limitations [Member]
Deferred Tax Assets, Operating Loss Carryforwards	16,100		16,100
Not Limited by Section 382 [Member]
Deferred Tax Assets, Operating Loss Carryforwards	$ 5,000		$ 5,000

Note 19 - Subsequent Event (Det

Note 19 - Subsequent Event (Details Textual) - Lenmar Corporation [Member] $ / shares in Units, $ in Millions	Oct. 29, 2017USD ($)$ / shares
Business Acquisition, Share Price | $ / shares	$ 48.26
Business Combination, Threshold Amount Allowed to be Paid For Cash Conversion of Common Stock Before it is Subject to Proration | $	$ 1,160
Common Class A [Member]
Business Combination Conversion Ratio	0.885

Note 20 - Supplemental Disclo65

Note 20 - Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows - Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Supplemental Disclosures of Cash Flow Information:
Income taxes	$ 177,332	$ 150,822
Increase in secured project debt for assets acquired	$ 16,480	$ 25,625

Note 21 - Supplemental Guaran66

Note 21 - Supplemental Guarantor Information - Condensed Consolidating Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues	$ 1,515,843	$ 1,670,958	$ 4,474,656	$ 4,435,003
Cost of sales	(1,212,708)	(1,296,266)	(3,572,819)	(3,471,766)
Gross margin	303,135	374,692	901,837	963,237
Selling, general and administrative expenses	(168,429)	(170,815)	(498,702)	(473,210)
Income (loss) from unconsolidated joint ventures	5,426	1,231	9,760	2,643
Equity income of subsidiaries
Interest income (expense), net
Other income (expense)	(1,238)	(4,169)	(4,082)	(11,992)
Homebuilding pretax income	138,894	200,939	408,813	480,678
Financial services pretax income	7,278	9,807	23,475	24,889
Income before taxes	146,172	210,746	432,288	505,567
Provision for income taxes	(52,820)	(78,398)	(157,322)	(187,798)
Net income	93,352	132,348	274,966	317,769
Reportable Legal Entities [Member] | Parent Company [Member]
Revenues	647,336	707,397	1,955,915	1,817,935
Cost of sales	(528,858)	(561,856)	(1,592,317)	(1,451,579)
Gross margin	118,478	145,541	363,598	366,356
Selling, general and administrative expenses	(68,237)	(75,217)	(203,674)	(201,503)
Income (loss) from unconsolidated joint ventures	981	(717)	2,006	29
Equity income of subsidiaries	62,765	95,380	178,762	229,414
Interest income (expense), net	845	1,075	2,439	3,685
Other income (expense)	(3,714)	(3,602)	(9,612)	(10,885)
Homebuilding pretax income	111,118	162,460	333,519	387,096
Financial services pretax income
Income before taxes	111,118	162,460	333,519	387,096
Provision for income taxes	(17,766)	(30,112)	(58,553)	(69,327)
Net income	93,352	132,348	274,966	317,769
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenues	632,262	656,095	1,835,567	1,866,598
Cost of sales	(505,367)	(520,810)	(1,468,154)	(1,486,644)
Gross margin	126,895	135,285	367,413	379,954
Selling, general and administrative expenses	(80,147)	(75,834)	(237,232)	(220,595)
Income (loss) from unconsolidated joint ventures	252	44	550	444
Equity income of subsidiaries
Interest income (expense), net	(519)	(886)	(1,724)	(2,785)
Other income (expense)	(287)	(762)	(543)	(1,241)
Homebuilding pretax income	46,194	57,847	128,464	155,777
Financial services pretax income
Income before taxes	46,194	57,847	128,464	155,777
Provision for income taxes	(22,788)	(23,111)	(61,411)	(66,659)
Net income	23,406	34,736	67,053	89,118
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Revenues	236,245	307,466	683,174	750,470
Cost of sales	(178,483)	(213,600)	(512,348)	(533,543)
Gross margin	57,762	93,866	170,826	216,927
Selling, general and administrative expenses	(20,045)	(19,764)	(57,796)	(51,112)
Income (loss) from unconsolidated joint ventures	4,193	1,904	7,204	2,170
Equity income of subsidiaries
Interest income (expense), net	(326)	(189)	(715)	(900)
Other income (expense)	2,763	195	6,073	134
Homebuilding pretax income	44,347	76,012	125,592	167,219
Financial services pretax income	7,278	9,807	23,475	24,889
Income before taxes	51,625	85,819	149,067	192,108
Provision for income taxes	(12,266)	(25,175)	(37,358)	(51,812)
Net income	39,359	60,644	111,709	140,296
Consolidation, Eliminations [Member]
Revenues
Cost of sales
Gross margin
Selling, general and administrative expenses
Income (loss) from unconsolidated joint ventures
Equity income of subsidiaries	(62,765)	(95,380)	(178,762)	(229,414)
Interest income (expense), net
Other income (expense)
Homebuilding pretax income	(62,765)	(95,380)	(178,762)	(229,414)
Financial services pretax income
Income before taxes	(62,765)	(95,380)	(178,762)	(229,414)
Provision for income taxes
Net income	$ (62,765)	$ (95,380)	$ (178,762)	$ (229,414)

Note 21 - Supplemental Guaran67

Note 21 - Supplemental Guarantor Information - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Cash and equivalents	$ 129,667	$ 208,127	$ 214,274	$ 186,594
Inventories:
Total assets	9,079,034	8,709,044
Cash and equivalents	129,667	208,127	214,274	186,594
LIABILITIES AND EQUITY
Total liabilities	4,735,931	4,501,458
Stockholders' Equity:
Total Stockholders' Equity	4,329,211	4,207,586
Noncontrolling Interest	13,892
Total Equity	4,343,103	4,207,586
Total Liabilities and Equity	9,079,034	8,709,044
Reportable Legal Entities [Member] | Parent Company [Member]
ASSETS
Cash and equivalents	25,694	105,261	118,170	6,387
Inventories:
Total assets	8,994,314	8,438,528
Cash and equivalents	25,694	105,261	118,170	6,387
LIABILITIES AND EQUITY
Total liabilities	4,665,103	4,230,942
Stockholders' Equity:
Total Stockholders' Equity	4,329,211
Noncontrolling Interest
Total Equity	4,329,211	4,207,586
Total Liabilities and Equity	8,994,314	8,438,528
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
ASSETS
Cash and equivalents	31,465	38,211	30,931	112,852
Inventories:
Total assets	2,395,103	2,390,295
Cash and equivalents	31,465	38,211	30,931	112,852
LIABILITIES AND EQUITY
Total liabilities	1,318,712	1,380,957
Stockholders' Equity:
Total Stockholders' Equity	1,076,391
Noncontrolling Interest
Total Equity	1,076,391	1,009,338
Total Liabilities and Equity	2,395,103	2,390,295
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
ASSETS
Cash and equivalents	72,508	64,655	65,173	67,355
Inventories:
Total assets	2,350,253	2,223,782
Cash and equivalents	72,508	64,655	65,173	67,355
LIABILITIES AND EQUITY
Total liabilities	1,280,782	1,278,702
Stockholders' Equity:
Total Stockholders' Equity	1,055,579
Noncontrolling Interest	13,892
Total Equity	1,069,471	945,080
Total Liabilities and Equity	2,350,253	2,223,782
Consolidation, Eliminations [Member]
ASSETS
Cash and equivalents
Inventories:
Total assets	(4,660,636)	(4,343,561)
Cash and equivalents
LIABILITIES AND EQUITY
Total liabilities	(2,528,666)	(2,389,143)
Stockholders' Equity:
Total Stockholders' Equity	(2,131,970)
Noncontrolling Interest
Total Equity	(2,131,970)	(1,954,418)
Total Liabilities and Equity	(4,660,636)	(4,343,561)
Homebuilding [Member]
ASSETS
Cash and equivalents	83,310	191,086
Restricted cash	29,620	28,321
Intercompany receivables
Inventories:
Owned	6,946,766	6,438,792
Not owned	91,944	66,267
Investments in unconsolidated joint ventures	130,692	127,127
Investments in subsidiaries
Deferred income taxes, net of valuation allowance of $1,925 and $2,456 at September 30, 2017 and December 31, 2016, respectively	307,251	330,378
Goodwill	985,185	970,185
Other assets	235,135	204,489
Total assets	8,809,903	8,356,645
Cash and equivalents	83,310	191,086
Restricted cash	29,620	28,321
LIABILITIES AND EQUITY
Accounts payable	177,752	211,780
Accrued liabilities	562,424	599,905
Revolving credit facility	295,600
Secured project debt and other notes payable	43,150	27,579
Senior notes payable	3,483,388	3,392,208
Total liabilities	4,562,314	4,231,472
Homebuilding [Member] | Reportable Legal Entities [Member] | Parent Company [Member]
ASSETS
Cash and equivalents	25,694	105,261
Restricted cash
Intercompany receivables	2,121,692	2,045,773
Inventories:
Owned	3,208,403	2,825,234
Not owned	44,285	30,953
Investments in unconsolidated joint ventures	5,895	4,469
Investments in subsidiaries	2,131,970	1,954,418
Deferred income taxes, net of valuation allowance of $1,925 and $2,456 at September 30, 2017 and December 31, 2016, respectively	313,894	337,021
Goodwill	970,185	970,185
Other assets	172,296	165,214
Total assets	8,994,314	8,438,528
Cash and equivalents	25,694	105,261
Restricted cash
LIABILITIES AND EQUITY
Accounts payable	95,533	92,611
Accrued liabilities	365,920	387,098
Revolving credit facility	295,600
Secured project debt and other notes payable	424,662	359,025
Senior notes payable	3,483,388	3,392,208
Total liabilities	4,665,103	4,230,942
Homebuilding [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
ASSETS
Cash and equivalents	31,465	38,211
Restricted cash
Intercompany receivables
Inventories:
Owned	2,279,408	2,277,840
Not owned	37,100	32,596
Investments in unconsolidated joint ventures	3,750	4,923
Investments in subsidiaries
Deferred income taxes, net of valuation allowance of $1,925 and $2,456 at September 30, 2017 and December 31, 2016, respectively
Goodwill
Other assets	43,380	36,725
Total assets	2,395,103	2,390,295
Cash and equivalents	31,465	38,211
Restricted cash
LIABILITIES AND EQUITY
Accounts payable	58,196	78,729
Accrued liabilities	1,260,516	1,302,228
Revolving credit facility
Secured project debt and other notes payable
Senior notes payable
Total liabilities	1,318,712	1,380,957
Homebuilding [Member] | Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
ASSETS
Cash and equivalents	26,151	47,614
Restricted cash	29,620	28,321
Intercompany receivables	398,530	334,926
Inventories:
Owned	1,458,955	1,335,718
Not owned	10,559	2,718
Investments in unconsolidated joint ventures	121,047	117,735
Investments in subsidiaries
Deferred income taxes, net of valuation allowance of $1,925 and $2,456 at September 30, 2017 and December 31, 2016, respectively
Goodwill	15,000
Other assets	19,459	2,550
Total assets	2,079,321	1,869,582
Cash and equivalents	26,151	47,614
Restricted cash	29,620	28,321
LIABILITIES AND EQUITY
Accounts payable	24,023	40,440
Accrued liabilities	1,066,124	964,796
Revolving credit facility
Secured project debt and other notes payable	17,018	3,480
Senior notes payable
Total liabilities	1,107,165	1,008,716
Homebuilding [Member] | Consolidation, Eliminations [Member]
ASSETS
Cash and equivalents
Restricted cash
Intercompany receivables	(2,520,222)	(2,380,699)
Inventories:
Owned
Not owned
Investments in unconsolidated joint ventures
Investments in subsidiaries	(2,131,970)	(1,954,418)
Deferred income taxes, net of valuation allowance of $1,925 and $2,456 at September 30, 2017 and December 31, 2016, respectively	(6,643)	(6,643)
Goodwill
Other assets
Total assets	(4,658,835)	(4,341,760)
Cash and equivalents
Restricted cash
LIABILITIES AND EQUITY
Accounts payable
Accrued liabilities	(2,130,136)	(2,054,217)
Revolving credit facility
Secured project debt and other notes payable	(398,530)	(334,926)
Senior notes payable
Total liabilities	(2,528,666)	(2,389,143)
Financial Services [Member]
ASSETS
Cash and equivalents	46,357	17,041
Restricted cash	21,205	21,710
Inventories:
Other assets	15,991	26,666
Total assets	269,131	352,399
Cash and equivalents	46,357	17,041
Restricted cash	21,205	21,710
Mortgage loans held for sale, net	160,068	262,058
Mortgage loans held for investment, net	25,510	24,924
LIABILITIES AND EQUITY
Total liabilities	173,617	269,986
Accounts payable and other liabilities	20,831	22,559
Mortgage credit facility	152,786	247,427
Financial Services [Member] | Reportable Legal Entities [Member] | Parent Company [Member]
ASSETS
Cash and equivalents
Restricted cash
Inventories:
Other assets
Total assets
Cash and equivalents
Restricted cash
Mortgage loans held for sale, net
Mortgage loans held for investment, net
LIABILITIES AND EQUITY
Total liabilities
Accounts payable and other liabilities
Mortgage credit facility
Financial Services [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
ASSETS
Cash and equivalents
Restricted cash
Inventories:
Other assets
Total assets
Cash and equivalents
Restricted cash
Mortgage loans held for sale, net
Mortgage loans held for investment, net
LIABILITIES AND EQUITY
Total liabilities
Accounts payable and other liabilities
Mortgage credit facility
Financial Services [Member] | Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
ASSETS
Cash and equivalents	46,357	17,041
Restricted cash	21,205	21,710
Inventories:
Other assets	17,792	28,467
Total assets	270,932	354,200
Cash and equivalents	46,357	17,041
Restricted cash	21,205	21,710
Mortgage loans held for sale, net	160,068	262,058
Mortgage loans held for investment, net	25,510	24,924
LIABILITIES AND EQUITY
Total liabilities	173,617	269,986
Accounts payable and other liabilities	20,831	22,559
Mortgage credit facility	152,786	247,427
Financial Services [Member] | Consolidation, Eliminations [Member]
ASSETS
Cash and equivalents
Restricted cash
Inventories:
Other assets	(1,801)	(1,801)
Total assets	(1,801)	(1,801)
Cash and equivalents
Restricted cash
Mortgage loans held for sale, net
Mortgage loans held for investment, net
LIABILITIES AND EQUITY
Total liabilities
Accounts payable and other liabilities
Mortgage credit facility

Note 21 - Supplemental Guaran68

Note 21 - Supplemental Guarantor Information - Condensed Consolidating Statements of Cash Flows (Details) - USD ($)	1 Months Ended	9 Months Ended
	Apr. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Net cash provided by (used in) operating activities		$ (123,475,000)	$ 167,662,000
Investments in unconsolidated homebuilding joint ventures		(33,212,000)	(27,000,000)
Distributions of capital from unconsolidated homebuilding joint ventures		12,770,000	23,727,000
Net cash paid for acquisitions		(44,477,000)
Loan to parent and subsidiaries
Other investing activities		(11,113,000)	(5,389,000)
Net cash provided by (used in) investing activities		(76,032,000)	(8,662,000)
Change in restricted cash		(794,000)	7,309,000
Borrowings from revolving credit facility		685,550,000	1,008,000,000
Principal payments on revolving credit facility		(389,950,000)	(862,000,000)
Principal payments on secured project debt and other notes payable		(909,000)	(10,389,000)
Principal payment on senior notes payable		(483,000,000)	(280,000,000)
Proceeds from the issuance of senior notes payable	$ 225,000,000	579,125,000	300,000,000
Payment of debt issuance costs		(5,019,000)	(2,657,000)
Loan from subsidiary
Net proceeds from (payments on) mortgage credit facility		(94,641,000)	(141,524,000)
(Contributions to) distributions from Corporate and subsidiaries
Repurchases of common stock		(150,014,000)	(137,464,000)
Common stock dividend payments		(13,427,000)	(14,264,000)
Issuance of common stock under employee stock plans, net of tax withholdings		(5,807,000)	1,868,000
Other financing activities		(67,000)	(199,000)
Intercompany advances, net
Net cash provided by (used in) financing activities		121,047,000	(131,320,000)
Net increase (decrease) in cash and equivalents		(78,460,000)	27,680,000
Cash and equivalents at beginning of period		208,127,000	186,594,000
Cash and equivalents at end of period		129,667,000	214,274,000
Reportable Legal Entities [Member] | Parent Company [Member]
Net cash provided by (used in) operating activities		(287,435,000)	(49,169,000)
Investments in unconsolidated homebuilding joint ventures		(178,000)	(235,000)
Distributions of capital from unconsolidated homebuilding joint ventures		500,000	1,107,000
Net cash paid for acquisitions
Loan to parent and subsidiaries
Other investing activities		(2,098,000)	(325,000)
Net cash provided by (used in) investing activities		(1,776,000)	547,000
Change in restricted cash
Borrowings from revolving credit facility		685,550,000	1,008,000,000
Principal payments on revolving credit facility		(389,950,000)	(862,000,000)
Principal payments on secured project debt and other notes payable			(9,985,000)
Principal payment on senior notes payable		(483,000,000)	(280,000,000)
Proceeds from the issuance of senior notes payable		579,125,000	300,000,000
Payment of debt issuance costs		(5,019,000)	(2,657,000)
Loan from subsidiary		65,054,000	88,800,000
Net proceeds from (payments on) mortgage credit facility
(Contributions to) distributions from Corporate and subsidiaries		1,210,000	18,350,000
Repurchases of common stock		(150,014,000)	(137,464,000)
Common stock dividend payments		(13,427,000)	(14,264,000)
Issuance of common stock under employee stock plans, net of tax withholdings		(5,807,000)	1,868,000
Other financing activities
Intercompany advances, net		(74,078,000)	49,757,000
Net cash provided by (used in) financing activities		209,644,000	160,405,000
Net increase (decrease) in cash and equivalents		(79,567,000)	111,783,000
Cash and equivalents at beginning of period		105,261,000	6,387,000
Cash and equivalents at end of period		25,694,000	118,170,000
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Net cash provided by (used in) operating activities		16,744,000	16,087,000
Investments in unconsolidated homebuilding joint ventures		(79,000)	(192,000)
Distributions of capital from unconsolidated homebuilding joint ventures		1,867,000	333,000
Net cash paid for acquisitions
Loan to parent and subsidiaries
Other investing activities		(1,519,000)	(1,958,000)
Net cash provided by (used in) investing activities		269,000	(1,817,000)
Change in restricted cash
Borrowings from revolving credit facility
Principal payments on revolving credit facility
Principal payments on secured project debt and other notes payable
Principal payment on senior notes payable
Proceeds from the issuance of senior notes payable
Payment of debt issuance costs
Loan from subsidiary
Net proceeds from (payments on) mortgage credit facility
(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 tax withholdings
Other financing activities			(199,000)
Intercompany advances, net		(23,759,000)	(95,992,000)
Net cash provided by (used in) financing activities		(23,759,000)	(96,191,000)
Net increase (decrease) in cash and equivalents		(6,746,000)	(81,921,000)
Cash and equivalents at beginning of period		38,211,000	112,852,000
Cash and equivalents at end of period		31,465,000	30,931,000
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Net cash provided by (used in) operating activities		147,216,000	200,744,000
Investments in unconsolidated homebuilding joint ventures		(32,955,000)	(26,573,000)
Distributions of capital from unconsolidated homebuilding joint ventures		10,403,000	22,287,000
Net cash paid for acquisitions		(44,477,000)
Loan to parent and subsidiaries		(65,054,000)	(88,800,000)
Other investing activities		(7,496,000)	(3,106,000)
Net cash provided by (used in) investing activities		(139,579,000)	(96,192,000)
Change in restricted cash		(794,000)	7,309,000
Borrowings from revolving credit facility
Principal payments on revolving credit facility
Principal payments on secured project debt and other notes payable		(909,000)	(404,000)
Principal payment on senior notes payable
Proceeds from the issuance of senior notes payable
Payment of debt issuance costs
Loan from subsidiary
Net proceeds from (payments on) mortgage credit facility		(94,641,000)	(141,524,000)
(Contributions to) distributions from Corporate and subsidiaries		(1,210,000)	(18,350,000)
Repurchases of common stock
Common stock dividend payments
Issuance of common stock under employee stock plans, net of tax withholdings
Other financing activities		(67,000)
Intercompany advances, net		97,837,000	46,235,000
Net cash provided by (used in) financing activities		216,000	(106,734,000)
Net increase (decrease) in cash and equivalents		7,853,000	(2,182,000)
Cash and equivalents at beginning of period		64,655,000	67,355,000
Cash and equivalents at end of period		72,508,000	65,173,000
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
Net cash paid for acquisitions
Loan to parent and subsidiaries		65,054,000	88,800,000
Other investing activities
Net cash provided by (used in) investing activities		65,054,000	88,800,000
Change in restricted cash
Borrowings from revolving credit facility
Principal payments on revolving credit facility
Principal payments on secured project debt and other notes payable
Principal payment on senior notes payable
Proceeds from the issuance of senior notes payable
Payment of debt issuance costs
Loan from subsidiary		(65,054,000)	(88,800,000)
Net proceeds from (payments on) mortgage credit facility
(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 tax withholdings
Other financing activities
Intercompany advances, net
Net cash provided by (used in) financing activities		(65,054,000)	(88,800,000)
Net increase (decrease) in cash and equivalents
Cash and equivalents at beginning of period
Cash and equivalents at end of period

Uncategorized Items - caa-20170

Label	Element	Value
Cash and equivalents and restricted cash at end of period	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 180,492,000
Cash and equivalents and restricted cash at end of period	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	265,869,000
Financial Services [Member]
Cash and equivalents and restricted cash at end of period	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	21,205,000
Cash and equivalents and restricted cash at end of period	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	21,799,000
Homebuilding [Member]
Cash and equivalents and restricted cash at end of period	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	29,620,000
Cash and equivalents and restricted cash at end of period	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 29,796,000