NVR (NVR) 10-K 17 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Feb. 12, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Trading Symbol	NVR
Entity Registrant Name	NVR INC
Entity Central Index Key	906,163
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		3,881,141
Entity Public Float			$ 5,130,019

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 425,316	$ 545,419
Inventory:
Land under development	60,611	33,689
Contract land deposits, net	343,295	294,676
Total assets	2,515,131	2,351,335
LIABILITIES AND SHAREHOLDERS' EQUITY
Total liabilities	$ 1,275,966	$ 1,227,080
Commitments and contingencies
Shareholders' equity:
Common stock, $0.01 par value; 60,000,000 shares authorized; 20,555,330 shares issued as of both December 31, 2015 and December 31, 2014	$ 206	$ 206
Additional paid-in capital	1,447,795	1,325,495
Deferred compensation trust – 108,614 shares of NVR, Inc. common stock as of both December 31, 2015 and December 31, 2014	(17,333)	(17,333)
Deferred compensation liability	17,333	17,333
Retained earnings	5,270,114	4,887,187
Less treasury stock at cost – 16,664,342 and 16,506,229 shares as of December 31, 2015 and December 31, 2014, respectively	(5,478,950)	(5,088,633)
Total shareholders' equity	1,239,165	1,124,255
Total liabilities and shareholders' equity	2,515,131	2,351,335
Homebuilding [Member]
ASSETS
Cash and cash equivalents	397,522	514,780
Receivables	11,482	10,021
Inventory:
Lots and housing units, covered under sales agreements with customers	785,982	690,955
Unsold lots and housing units	147,832	131,938
Land under development	60,611	33,689
Building materials and other	12,101	12,904
Total Inventory	1,006,526	869,486
Assets related to consolidated variable interest entity	1,749	3,590
Contract land deposits, net	343,295	294,676
Property, plant and equipment, net	44,651	46,242
Reorganization value in excess of amounts allocable to identifiable assets, net	41,580	41,580
Goodwill and finite-lived intangible assets, net	3,982	5,364
Deferred tax assets, net	161,805	165,189
Other assets	122,989	137,091
Total assets	2,135,581	2,088,019
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	227,437	204,622
Accrued expenses and other liabilities	304,922	289,058
Liabilities related to consolidated variable interest entity	1,091	1,618
Non-recourse debt related to consolidated variable interest entity		64
Customer deposits	110,965	106,755
Senior notes	599,260	599,166
Total liabilities	1,243,675	1,201,283
Mortgage Banking [Member]
ASSETS
Cash and cash equivalents	26,804	30,158
Mortgage loans held for sale, net	319,553	205,664
Inventory:
Property, plant and equipment, net	5,313	6,189
Reorganization value in excess of amounts allocable to identifiable assets, net	7,347	7,347
Other assets	20,533	13,958
Total assets	379,550	263,316
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable and other liabilities	32,291	25,797
Total liabilities	$ 32,291	$ 25,797

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	20,555,330	20,555,330
Deferred compensation trust, shares	108,614	108,614
Treasury stock, shares	16,664,342	16,506,229

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest expense	$ (23,559)	$ (23,140)	$ (22,385)
Income before taxes	603,212	453,546	418,696
Income tax expense	(220,285)	(171,916)	(152,219)
Net income	$ 382,927	$ 281,630	$ 266,477
Basic earnings per share	$ 95.21	$ 65.83	$ 56.25
Diluted earnings per share	$ 89.99	$ 63.50	$ 54.81
Basic weighted average shares outstanding	4,022	4,278	4,737
Diluted weighted average shares outstanding	4,255	4,435	4,862
Homebuilding [Member]
Revenues	$ 5,065,200	$ 4,375,059	$ 4,134,481
Other income	2,956	2,853	3,962
Cost of sales	(4,118,782)	(3,568,586)	(3,424,204)
Selling, general and administrative	(371,127)	(358,851)	(313,029)
Operating income	578,247	450,475	401,210
Interest expense	(22,918)	(22,591)	(21,840)
Income before taxes	555,329	427,884	379,370
Mortgage Banking [Member]
Mortgage banking fees	93,808	69,509	76,786
Interest income	6,485	4,940	4,983
Other income	1,113	778	696
General and administrative	(52,882)	(49,016)	(42,594)
Interest expense	(641)	(549)	(545)
Income before taxes	$ 47,883	$ 25,662	$ 39,326

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In-Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Deferred Compensation Trust [Member]	Deferred Compensation Liability [Member]
Beginning Balance at Dec. 31, 2012	$ 1,480,477	$ 206	$ 1,169,699	$ 4,339,080	$ (4,028,508)	$ (25,331)	$ 25,331
Net income	266,477			266,477
Deferred compensation activity						7,590	(7,590)
Purchase of common stock for treasury	(554,491)				(554,491)
Equity-based compensation	34,296		34,296
Tax benefit from equity benefit plan activity	20,636		20,636
Proceeds from stock options exercised	13,957		13,957
Treasury stock issued upon option exercise and restricted share vesting			(26,538)		26,538
Ending Balance at Dec. 31, 2013	1,261,352	206	1,212,050	4,605,557	(4,556,461)	(17,741)	17,741
Net income	281,630			281,630
Deferred compensation activity						408	(408)
Purchase of common stock for treasury	(567,544)				(567,544)
Equity-based compensation	63,227		63,227
Tax benefit from equity benefit plan activity	9,437		9,437
Proceeds from stock options exercised	76,153		76,153
Treasury stock issued upon option exercise and restricted share vesting			(35,372)		35,372
Ending Balance at Dec. 31, 2014	1,124,255	206	1,325,495	4,887,187	(5,088,633)	(17,333)	17,333
Net income	382,927			382,927
Purchase of common stock for treasury	(431,367)				(431,367)
Equity-based compensation	54,091		54,091
Tax benefit from equity benefit plan activity	23,311		23,311
Proceeds from stock options exercised	85,948		85,948
Treasury stock issued upon option exercise and restricted share vesting			(41,050)		41,050
Ending Balance at Dec. 31, 2015	$ 1,239,165	$ 206	$ 1,447,795	$ 5,270,114	$ (5,478,950)	$ (17,333)	$ 17,333

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income	$ 382,927	$ 281,630	$ 266,477
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	21,534	17,614	13,391
Excess income tax benefit from equity-based compensation	(23,311)	(9,437)	(20,636)
Equity-based compensation expense	54,091	63,227	34,296
Contract land deposit recoveries	(11,058)	(225)	(5,313)
Gain on sale of loans	(67,891)	(47,791)	(56,528)
Deferred tax expense (benefit)	1,902	(4,176)	(16,848)
Mortgage loans closed	(3,111,413)	(2,469,876)	(2,307,796)
Mortgage loans sold and principal payments on mortgage loans held for sale	3,059,889	2,525,706	2,338,701
Distribution of earnings from unconsolidated joint ventures	15,511	8,431	5,676
Net change in assets and liabilities:
Increase in inventory	(134,803)	(127,729)	(52,861)
Increase in contract land deposits	(37,561)	(57,566)	(40,034)
Increase in receivables	(1,527)	(533)	(260)
Increase in accounts payable and accrued expenses	55,404	60	113,121
Increase in customer deposits	4,210	5,733	1,335
Other, net	(4,513)	(519)	(2,499)
Net cash provided by operating activities	203,391	184,549	270,222
Cash flows from investing activities:
Investments in and advances to unconsolidated joint ventures	(1,917)		(22,850)
Distribution of capital from unconsolidated joint ventures	18,489	11,569	6,782
Purchase of property, plant and equipment	(18,277)	(31,672)	(19,016)
Proceeds from the sale of property, plant and equipment	683	1,021	607
Net cash used in investing activities	(1,022)	(19,082)	(34,477)
Cash flows from financing activities:
Purchase of treasury stock	(431,367)	(567,544)	(554,491)
Net repayments under note payable and credit lines		(115)	(642)
Repayments under non-recourse debt related to consolidated variable interest entity	(64)	(3,301)	(4,314)
Borrowings under non-recourse debt related to consolidated variable interest entity			3,105
Distributions to partner in consolidated variable interest entity	(300)	(931)	(1,250)
Excess income tax benefit from equity-based compensation	23,311	9,437	20,636
Proceeds from the exercise of stock options	85,948	76,153	13,957
Net cash used in financing activities	(322,472)	(486,301)	(522,999)
Net decrease in cash and cash equivalents	(120,103)	(320,834)	(287,254)
Cash and cash equivalents, beginning of the year	545,419	866,253	1,153,507
Cash and cash equivalents, end of the year	425,316	545,419	866,253
Supplemental disclosures of cash flow information:
Interest paid during the year, net of interest capitalized	24,546	24,464	24,876
Income taxes paid during the year, net of refunds	$ 194,670	$ 181,840	$ 113,224

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of NVR, Inc. and its subsidiaries (“NVR” or the “Company”) and certain other entities in which the Company is deemed to be the primary beneficiary (see Notes 3 and 4 herein for additional information). All significant intercompany transactions have been eliminated in consolidation. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Management continually evaluates the estimates used to prepare the consolidated financial statements and updates those estimates as necessary. In general, the Company’s estimates are based on historical experience, on information from third party professionals, and other various assumptions that are believed to be reasonable under the facts and circumstances. Actual results could differ materially from those estimates made by management. Cash and Cash Equivalents Cash and cash equivalents include short-term investments with original maturities of three months or less. At December 31, 2015 and 2014, $990 and $481, respectively, of cash related to a consolidated variable interest entity is included in “Assets related to consolidated variable interest entity” on the accompanying consolidated balance sheet. The homebuilding segment had restricted cash of $23,440 and $24,106 at December 31, 2015 and 2014, respectively. Restricted cash in both 2015 and 2014 was attributable to holding requirements related to outstanding letters of credit issued under the Company’s letter of credit agreement as discussed further in Note 13 herein. In addition, restricted cash relates to customer deposits for certain home sales. Restricted cash is recorded in “Other assets” in the homebuilding section of the accompanying consolidated balance sheets. The mortgage banking segment had restricted cash of $2,038 and $1,947 at December 31, 2015 and 2014, respectively, which included amounts collected from customers for loans in process and closed mortgage loans held for sale. The mortgage banking segment’s restricted cash is recorded in “Other assets” in the mortgage banking section of the accompanying consolidated balance sheets. Homebuilding Inventory The carrying value of inventory is stated at the lower of cost or market value. Cost of lots and completed and uncompleted housing units represent the accumulated actual cost of the units. Field construction supervisors’ salaries and related direct overhead expenses are included in inventory costs. Interest costs are not capitalized into inventory, with the exception of land under development and joint venture investments, as applicable (see below). Upon settlement, the cost of the unit is expensed on a specific identification basis. Cost of building materials is determined on a first-in, first-out basis. Sold inventory is evaluated for impairment based on the contractual sales price compared to the total estimated cost to construct plus a reasonable profit margin. Unsold inventory is evaluated for impairment by analyzing recent comparable sales prices within the applicable community compared to the costs incurred to date plus the expected costs to complete and a reasonable profit margin. Any calculated impairments are recorded immediately. Contract Land Deposits The Company purchases finished lots under fixed price purchase agreements that require deposits that may be forfeited if NVR fails to perform under the contract. The deposits are in the form of cash or letters of credit in varying amounts and represent a percentage of the aggregate purchase price of the finished lots. NVR maintains an allowance for losses on contract land deposits that reflects the Company’s judgment of the present loss exposure in the existing contract land deposit portfolio at the end of the reporting period. To analyze contract land deposit impairments, NVR utilizes an Accounting Standards Codification (“ASC”) 450, Contingencies NVR’s analysis is focused on whether the Company can sell houses profitably in a particular community in the current market with which the Company is faced. Because the Company does not own the finished lots on which the Company has placed a contract land deposit, if the above analysis leads to a determination that the Company cannot sell homes profitably at the current contractual lot price, the Company then determines whether it will elect to default under the contract, forfeit the deposit and terminate the contract, or whether the Company will attempt to restructure the lot purchase contract, which may require it to forfeit the deposit to obtain contract concessions from a developer. The Company also assesses whether impairment is present due to collectability issues resulting from a developer’s non-performance because of financial or other conditions. For the years ended December 31, 2015, 2014 and 2013, the Company recognized pre-tax recoveries of $11,058, $225 and $5,313, respectively, of contract land deposits previously determined to be unrecoverable. The contract land deposit assets on the accompanying consolidated balance sheets are shown net of $42,239 and $56,074 impairment valuation allowances at December 31, 2015, and 2014, respectively. Land Under Development On a limited basis, NVR directly acquires raw parcels of land already zoned for its intended use to develop into finished lots. Land under development includes the land acquisition costs, direct improvement costs, capitalized interest, where applicable, and real estate taxes. Land under development, including the land under development held by the Company’s unconsolidated joint ventures and the related joint venture investments, is reviewed for potential write-downs when impairment indicators are present. In addition to considering market and economic conditions, the Company assesses land under development impairments on a community-by-community basis, analyzing, as applicable, current sales absorption levels, recent sales’ gross profit, and the dollar differential between the projected fully-developed cost of the lots and the current market price for lots. If indicators of impairment are present for a community, NVR performs an analysis to determine if the undiscounted cash flows estimated to be generated by those assets are less than their carrying amounts, and if so, impairment charges are required to be recorded if the fair value of such assets is less than their carrying amounts. For those assets deemed to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. The Company’s determination of fair value is primarily based on discounting the estimated future cash flows at a rate commensurate with the inherent risks associated with the assets and related estimated cash flow streams. NVR does not believe that any of the land under development is impaired at this time. Property, Plant, and Equipment Property, plant, and equipment are carried at cost less accumulated depreciation and amortization. Depreciation is based on the estimated useful lives of the assets using the straight-line method. Model home furniture and fixtures are generally depreciated over a two-year period, office facilities and other equipment are depreciated over a period of three to ten years and production facilities are depreciated over periods of five to forty years. Intangible Assets On December 31, 2012, the Company acquired substantially all of the assets of Heartland Homes, Inc., which resulted in the Company recording finite-lived intangible assets and goodwill. The Company completed its annual assessment for impairment of goodwill and management determined that there was no impairment. As of December 31, 2015 and 2014, finite-lived intangible assets attributable to the Heartland Homes, Inc. acquisition, net of accumulated amortization, totaled $3,541 and $4,923, respectively. As of both December 31, 2015 and 2014, the goodwill value was $441. The remaining finite-lived intangible assets will be amortized on a straight-line basis over a weighted average life of 4 years. Warranty/Product Liability Accruals The Company establishes warranty and product liability reserves to provide for estimated future expenses as a result of construction and product defects, product recalls and litigation incidental to NVR’s homebuilding business. Liability estimates are determined based on management’s judgment considering such factors as historical experience, the likely current cost of corrective action, manufacturers’ and subcontractors’ participation in sharing the cost of corrective action, consultations with third party experts such as engineers, and discussions with the Company’s General Counsel and outside counsel retained to handle specific product liability cases. Mortgage Loans Held for Sale, Derivatives and Hedging Activities NVR originates several different loan products to its customers to finance the purchase of a home through its wholly-owned mortgage subsidiary, NVR Mortgage Finance, Inc. (“NVRM”). NVRM sells all of the loans it originates into the secondary market on a servicing released basis, typically within 30 days from origination. All of the loans that NVRM originates are underwritten to the standards and specifications of the ultimate investor. Those underwriting standards are typically equal to or more stringent than the underwriting standards required by Fannie Mae (“FNMA”), Department of Veterans Affairs (“VA”) and the Federal Housing Administration (“FHA”). Insofar as NVRM underwrites its originated loans to those standards, NVRM bears no increased concentration of credit risk from the issuance of loans, except in certain limited instances where early payment default occurs. NVRM employs a quality control department to ensure that its underwriting controls are effectively operating, and further assesses the underwriting function as part of its assessment of internal controls over financial reporting. NVRM maintains an allowance for losses on mortgage loans originated that reflects NVR’s judgment of the present loss exposure in the loans that NVRM has originated and sold. The allowance is calculated based on an analysis of historical experience and exposure (see Note 15 herein for further information). Mortgage loans held for sale are carried at the lower of cost or fair value, net of deferred origination costs, until sold. In the normal course of business, NVRM enters into contractual commitments to extend credit to buyers of single-family homes with fixed expiration dates. The commitments become effective when the borrowers “lock-in” a specified interest rate within time frames established by NVRM. All mortgagors are evaluated for credit worthiness prior to the extension of the commitment. Market risk arises if interest rates move adversely between the time of the “lock-in” of rates by the borrower and the sale date of the loan to a broker/dealer. To mitigate the effect of the interest rate risk inherent in providing rate lock commitments to borrowers, NVRM enters into optional or mandatory delivery forward sale contracts to sell whole loans and mortgage-backed securities to broker/dealers. The forward sale contracts lock in an interest rate and price for the sale of loans similar to the specific rate lock commitments. NVRM does not engage in speculative or trading derivative activities. Both the rate lock commitments to borrowers and the forward sale contracts to broker/dealers are undesignated derivatives, and, accordingly, are marked to fair value through earnings. At December 31, 2015, there were contractual commitments to extend credit to borrowers aggregating $462,329, and open forward delivery sale contracts aggregating $737,052, which hedge both the rate lock commitments and closed loans held for sale (see Note 14 herein for a description of the Company’s fair value accounting). Earnings per Share The following weighted average shares and share equivalents were used to calculate basic and diluted earnings per share for the years ended December 31, 2015 2014 and 2013: Year Ended December 31, 2015 2014 2013 Weighted average number of shares outstanding used to calculate basic EPS 4,022 4,278 4,737 Dilutive securities: Stock options and restricted share units 233 157 125 Weighted average number of shares and share equivalents outstanding used to calculate diluted EPS 4,255 4,435 4,862 The assumed proceeds used in the treasury method for calculating NVR’s diluted earnings per share includes the amount the employee must pay upon exercise, the amount of compensation cost attributed to future services not yet recognized and the amount of tax benefits that would be credited or charged to additional paid-in-capital assuming exercise of the stock option or vesting of the restricted share unit. The assumed amount credited to additional paid-in-capital equals the tax benefit from assumed exercise of stock options or the assumed vesting of restricted share units after consideration of the intrinsic value upon assumed exercise or vesting less the actual stock-based compensation expense to be recognized in the income statement. The following stock options and restricted share units issued under equity incentive plans were outstanding during the years ended December 31, 2015, 2014 and 2013; however, they were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive. Year Ended December 31, 2015 2014 2013 Anti-dilutive securities 50 757 157 Revenues – Homebuilding Operations NVR builds single-family detached homes, townhomes and condominium buildings, which generally are constructed on a pre-sold basis for the ultimate customer. Revenues are recognized at the time the unit is settled and title passes to the customer, adequate cash payment has been received and there is no continuing involvement. In situations where the buyer’s financing is originated by NVRM and the buyer has not made an adequate initial or continuing investment as prescribed by GAAP, the profit on such settlement is deferred until the sale of the related loan to a third-party investor has been completed. Mortgage Banking Fees Mortgage banking fees include income earned by NVRM for originating mortgage loans, servicing mortgage loans held on an interim basis, title fees, gains and losses on the sale of mortgage loans and mortgage servicing and other activities incidental to mortgage banking. Mortgage banking fees are generally recognized after the loan has been sold to an unaffiliated, third party investor. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on the deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ASC 740-10, Income Taxes Financial Instruments Except as otherwise noted herein, NVR believes that insignificant differences exist between the carrying value and the fair value of its financial instruments (see Note 14 herein for further information). Equity-Based Compensation The company accounts for its equity-based compensation in accordance with ASC 718, Compensation – Stock Compensation. Comprehensive Income For the years ended December 31, 2015, 2014 and 2013, comprehensive income equaled net income; therefore, a separate statement of comprehensive income is not included in the accompanying consolidated financial statements. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers In August 2014, FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In February 2015, FASB issued ASU 2015-02, Consolidation (Topic 810) – Amendments to the Consolidation Analysis In April 2015, FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30) – Simplifying the Presentation of Debt Issuance Costs. In April 2015, FASB issued ASU 2015-05, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) In July 2015, FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory

Segment Information, Nature of

Segment Information, Nature of Operations, and Certain Concentrations	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Information, Nature of Operations, and Certain Concentrations	2. Segment Information, Nature of Operations, and Certain Concentrations NVR’s homebuilding operations primarily construct and sell single-family detached homes, townhomes and condominium buildings under four trade names: Ryan Homes, NVHomes, Fox Ridge Homes and Heartland Homes. The Ryan Homes and Fox Ridge Homes products are marketed primarily to first-time and first-time move-up buyers. Ryan Homes operates in twenty-eight metropolitan areas located in Maryland, Virginia, Washington, D.C., West Virginia, Pennsylvania, New York, North Carolina, South Carolina, Florida, Ohio, New Jersey, Delaware, Indiana, Illinois and Tennessee. Fox Ridge Homes operates in the Nashville, TN metropolitan area. The NVHomes and Heartland Homes products are marketed primarily to move-up and up-scale buyers. NVHomes operates in Delaware and the Washington, D.C., Baltimore, MD, Philadelphia, PA and Raleigh, NC metropolitan areas. Heartland Homes operates in the Pittsburgh, PA metropolitan area. NVR derived approximately 31% and 13% of its 2015 homebuilding revenues from the Washington, D.C. and Baltimore, MD metropolitan areas, respectively. NVR’s mortgage banking segment is a regional mortgage banking operation. Substantially all of the mortgage banking segment’s loan closing activity is for NVR’s homebuilding customers. NVR’s mortgage banking business generates revenues primarily from origination fees, gains on sales of loans, and title fees. A substantial portion of the Company’s mortgage operations is conducted in the Washington, D.C. and Baltimore, MD metropolitan areas. The following disclosure includes four homebuilding reportable segments that aggregate geographically the Company’s homebuilding operating segments, and the mortgage banking operations presented as a single reportable segment. The homebuilding reportable segments are comprised of operating divisions in the following geographic areas: Mid Atlantic: Maryland, Virginia, West Virginia, Delaware and Washington, D.C. North East: New Jersey and Eastern Pennsylvania Mid East: New York, Ohio, Western Pennsylvania, Indiana and Illinois South East: North Carolina, South Carolina, Tennessee and Florida Homebuilding profit before tax includes all revenues and income generated from the sale of homes, less the cost of homes sold, selling, general and administrative expenses, and a corporate capital allocation charge. The corporate capital allocation charge is eliminated in consolidation and is based on the segment’s average net assets employed. The corporate capital allocation charged to the operating segment allows the Chief Operating Decision Maker (“CODM”) to determine whether the operating segment’s results are providing the desired rate of return after covering the Company’s cost of capital. In addition, certain assets including goodwill and intangible assets, and consolidation adjustments as discussed further below, are not allocated to the operating segments as those assets are neither included in the operating segment’s corporate capital allocation charge, nor in the CODM’s evaluation of the operating segment’s performance. The Company records charges on contract land deposits when it is determined that it is probable that recovery of the deposit is impaired. For segment reporting purposes, impairments on contract land deposits are charged to the operating segment upon the determination to terminate a finished lot purchase agreement with the developer, or to restructure a lot purchase agreement resulting in the forfeiture of the deposit. Mortgage banking profit before tax consists of revenues generated from mortgage financing, title insurance and closing services, less the costs of such services and general and administrative costs. Mortgage banking operations are not charged a corporate capital allocation charge. In addition to the corporate capital allocation and contract land deposit impairments discussed above, the other reconciling items between segment profit and consolidated profit before tax include unallocated corporate overhead (including all management incentive compensation), equity-based compensation expense, consolidation adjustments and external corporate interest expense. NVR’s overhead functions, such as accounting, treasury and human resources are centrally performed and the costs are not allocated to the Company’s operating segments. Consolidation adjustments consist of such items necessary to convert the reportable segments’ results, which are predominantly maintained on a cash basis, to a full accrual basis for external financial statement presentation purposes, and are not allocated to the Company’s operating segments. External corporate interest expense primarily consists of interest charges on the Company’s 3.95% Senior Notes due 2022 (the “Senior Notes”) and is not charged to the operating segments because the charges are included in the corporate capital allocation discussed above. Following are tables presenting segment revenues, profit before taxes, assets, interest income, interest expense, depreciation and amortization and expenditures for property and equipment, with reconciliations to the amounts reported for the consolidated enterprise, where applicable: Year Ended December 31, 2015 2014 2013 Revenues: Homebuilding Mid Atlantic $ 3,022,789 $ 2,617,108 $ 2,439,387 Homebuilding North East 432,145 376,862 332,681 Homebuilding Mid East 1,014,920 892,513 908,198 Homebuilding South East 595,346 488,576 454,215 Mortgage Banking 93,808 69,509 76,786 Consolidated revenues $ 5,159,008 $ 4,444,568 $ 4,211,267 Year Ended December 31, 2015 2014 2013 Profit before taxes: Homebuilding Mid Atlantic $ 322,829 $ 271,965 $ 276,399 Homebuilding North East 37,914 33,390 14,294 Homebuilding Mid East 86,336 47,538 55,537 Homebuilding South East 57,384 37,525 35,001 Mortgage Banking 51,236 30,388 42,075 Total segment profit 555,699 420,806 423,306 Reconciling items: Contract land deposit reserve adjustment (1) 13,805 3,612 5,313 Equity-based compensation expense (2) (54,091 ) (63,227 ) (34,296 ) Corporate capital allocation (3) 171,170 152,140 116,458 Unallocated corporate overhead (83,124 ) (61,108 ) (72,703 ) Consolidation adjustments and other 22,622 23,867 2,361 Corporate interest expense (22,869 ) (22,544 ) (21,743 ) Reconciling items sub-total 47,513 32,740 (4,610 ) Consolidated profit before taxes $ 603,212 $ 453,546 $ 418,696 As of December 31, 2015 2014 Assets: Homebuilding Mid Atlantic $ 994,804 $ 917,689 Homebuilding North East 133,106 103,631 Homebuilding Mid East 220,094 192,781 Homebuilding South East 175,572 144,939 Mortgage Banking 372,203 255,969 Total segment assets 1,895,779 1,615,009 Reconciling items: Consolidated variable interest entity 1,749 3,590 Cash and cash equivalents 397,522 514,780 Deferred taxes 161,805 165,189 Intangible assets and goodwill 52,909 54,291 Contract land deposit reserve (42,239 ) (56,074 ) Consolidation adjustments and other 47,606 54,550 Reconciling items sub-total 619,352 736,326 Consolidated assets $ 2,515,131 $ 2,351,335 Year Ended December 31, 2015 2014 2013 Interest income: Mortgage Banking $ 6,485 $ 4,940 $ 4,983 Total segment interest income 6,485 4,940 4,983 Other unallocated interest income 1,211 1,311 2,319 Consolidated interest income $ 7,696 $ 6,251 $ 7,302 Year Ended December 31, 2015 2014 2013 Interest expense: Homebuilding Mid Atlantic $ 107,748 $ 96,364 $ 72,351 Homebuilding North East 16,991 12,114 9,466 Homebuilding Mid East 27,263 26,300 22,587 Homebuilding South East 19,217 17,409 12,151 Mortgage Banking 641 549 545 Total segment interest expense 171,860 152,736 117,100 Corporate capital allocation (171,170 ) (152,140 ) (116,458 ) Senior Notes and other interest 22,869 22,544 21,743 Consolidated interest expense $ 23,559 $ 23,140 $ 22,385 Year Ended December 31, 2015 2014 2013 Depreciation and amortization: Homebuilding Mid Atlantic $ 7,876 $ 6,489 $ 4,784 Homebuilding North East 1,571 1,208 853 Homebuilding Mid East 4,003 3,212 1,911 Homebuilding South East 2,191 1,715 1,008 Mortgage Banking 1,136 1,089 669 Total segment depreciation and amortization 16,777 13,713 9,225 Unallocated corporate 4,757 3,901 4,166 Consolidated depreciation and amortization $ 21,534 $ 17,614 $ 13,391 Year Ended December 31, 2015 2014 2013 Expenditures for property and equipment: Homebuilding Mid Atlantic $ 8,287 $ 9,047 $ 7,947 Homebuilding North East 2,220 2,311 1,454 Homebuilding Mid East 3,774 6,982 3,282 Homebuilding South East 1,753 3,472 2,662 Mortgage Banking 265 2,580 2,933 Total segment expenditures for property and equipment 16,299 24,392 18,278 Unallocated corporate 1,978 7,280 738 Consolidated expenditures for property and equipment $ 18,277 $ 31,672 $ 19,016 ( 1 ) This item represents changes to the contract land deposit impairment reserve, which are not allocated to the reportable segments. (2) The increase in equity-based compensation expense in 2014 is primarily attributable to the issuance of stock options under the NVR, Inc. 2014 Equity Incentive Plan (the “2014 Plan”) and restricted share units (“RSUs”) issued in the second quarter of 2013. Equity-based compensation expense was also lower in 2013 due to an approximate $7,900 pre-tax compensation expense reversal in 2013 attributable to an adjustment of the stock option forfeiture rates based on the Company’s actual forfeiture experience. ( 3 ) This item represents the elimination of the corporate capital allocation charge included in the respective homebuilding reportable segments. The corporate capital allocation charge is based on the segment’s monthly average asset balance, and was as follows for the years presented: Year Ended December 31, 2015 2014 2013 Corporate capital allocation charge: Homebuilding Mid Atlantic $ 107,705 $ 96,328 $ 72,272 Homebuilding North East 16,987 12,107 9,461 Homebuilding Mid East 27,263 26,299 22,580 Homebuilding South East 19,215 17,406 12,145 Total corporate capital allocation charge $ 171,170 $ 152,140 $ 116,458

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2015
Variable Interest Entity Reporting Entity Involvement Maximum Loss Exposure [Abstract]
Variable Interest Entities	3. Variable Interest Entities Fixed Price Purchase Agreements NVR generally does not engage in the land development business. Instead, the Company typically acquires finished building lots at market prices from various development entities under fixed price purchase agreements. The purchase agreements require deposits that may be forfeited if NVR fails to perform under the agreements. The deposits required under the purchase agreements are in the form of cash or letters of credit in varying amounts, and typically range up to 10% of the aggregate purchase price of the finished lots. NVR believes this lot acquisition strategy reduces the financial requirements and risks associated with direct land ownership and land development. NVR may, at its option, choose for any reason and at any time not to perform under these purchase agreements by delivering notice of its intent not to acquire the finished lots under contract. NVR’s sole legal obligation and economic loss for failure to perform under these purchase agreements is limited to the amount of the deposit pursuant to the liquidated damage provisions contained within the purchase agreements. In other words, if NVR does not perform under a purchase agreement, NVR loses only its deposit. None of the creditors of any of the development entities with which NVR enters fixed price purchase agreements have recourse to the general credit of NVR. NVR generally does not have any specific performance obligations to purchase a certain number or any of the lots, nor does NVR guarantee completion of the development by the developer or guarantee any of the developers’ financial or other liabilities. NVR is not involved in the design or creation of any of the development entities from which the Company purchases lots under fixed price purchase agreements. The developer’s equity holders have the power to direct 100% of the operating activities of the development entity. NVR has no voting rights in any of the development entities. The sole purpose of the development entity’s activities is to generate positive cash flow returns for the equity holders. Further, NVR does not share in any of the profit or loss generated by the project’s development. The profits and losses are passed directly to the developer’s equity holders. The deposit placed by NVR pursuant to the fixed price purchase agreement is deemed to be a variable interest in the respective development entities. Those development entities are deemed to be variable interest entities (“VIE”). Therefore, the development entities with which NVR enters into fixed price purchase agreements, including the joint venture limited liability companies, discussed below, are evaluated for possible consolidation by NVR. An enterprise must consolidate a VIE when that enterprise has a controlling financial interest in the VIE. An enterprise is deemed to have a controlling financial interest if it has i) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance, and ii) the obligation to absorb losses of the VIE that could be significant to the VIE or the rights to receive benefits from the VIE that could be significant to the VIE. NVR believes the activities that most significantly impact a development entity’s economic performance are the operating activities of the entity. Unless and until a development entity completes finished building lots through the development process to be able to sell, the process of which the development entity’s equity investors bear the full risk, the entity does not earn any revenues. The operating development activities are managed solely by the development entity’s equity investors. The development entities with which NVR contracts to buy finished lots typically select the respective projects, obtain the necessary zoning approvals, obtain the financing required with no support or guarantees from NVR, select who will purchase the finished lots and at what price, and manage the completion of the infrastructure improvements, all for the purpose of generating a cash flow return to the development entity’s equity holders and all independent of NVR. The Company possesses no more than limited protective legal rights through the purchase agreement in the specific finished lots that it is purchasing, and NVR possesses no participative rights in the development entities. Accordingly, NVR does not have the power to direct the activities of a developer that most significantly impact the developer’s economic performance. For this reason, NVR has concluded that it is not the primary beneficiary of the development entities with which the Company enters into fixed price purchase agreements, and therefore NVR does not consolidate any of these VIEs. As of December 31, 2015, NVR controlled approximately 68,800 lots through fixed price purchase agreements with deposits in cash and letters of credit totaling approximately $373,300 and $3,000, respectively. As noted above, NVR’s sole legal obligation and economic loss for failure to perform under these purchase agreements is limited to the amount of the deposit pursuant to the liquidated damage provisions contained in the purchase agreements and in very limited circumstances, specific performance obligations. In addition, NVR has certain properties under contract with land owners that are expected to yield approximately 8,800 lots, which are not included in the number of total lots controlled. Some of these properties may require rezoning or other approvals to achieve the expected yield. These properties are controlled with deposits and letters of credit totaling approximately $12,200 and $350, respectively as of December 31, 2015, of which approximately $8,700 is refundable if NVR does not perform under the contract. In February 2016, we acquired one of these properties at a cost of approximately $150,000 which is expected to produce approximately 1,000 lots NVR generally expects to assign the raw land contracts to a land developer and simultaneously enter into a lot purchase agreement with the assignee if the project is determined to be feasible. NVR’s total risk of loss related to contract land deposits as of December 31, 2015 and 2014 was as follows: December 31, 2015 2014 Contract land deposits $ 385,534 $ 350,750 Loss reserve on contract land deposits (42,239 ) (56,074 ) Contract land deposits, net 343,295 294,676 Contingent obligations in the form of letters of credit 3,302 4,674 Contingent specific performance obligations (1) 1,505 1,505 Total risk of loss $ 348,102 $ 300,855 (1) As of both December 31, 2015 and 2014, the Company was committed to purchase 10 finished lots under specific performance obligations.

Joint Ventures

Joint Ventures	12 Months Ended
	Dec. 31, 2015
Equity Method Investments And Joint Ventures [Abstract]
Joint Ventures	4. Joint Ventures On a limited basis, NVR obtains finished lots using joint venture limited liability corporations (“JVs”). The JVs are typically structured such that NVR is a non-controlling member and is at risk only for the amount the Company has invested, or committed to invest, in addition to any deposits placed under fixed price purchase agreements with the joint venture. NVR is not a borrower, guarantor or obligor on any debt of the JVs, as applicable. The Company enters into a standard fixed price purchase agreement to purchase lots from these JVs, and as a result has a variable interest in these JVs. At December 31, 2015, the Company had an aggregate investment totaling approximately $60,500 in six JVs that are expected to produce approximately 8,000 finished lots, of which approximately 3,300 were not under contract with NVR. In addition, NVR had additional funding commitments in the aggregate totaling $11,500 to three of the JVs at December 31, 2015. The Company has determined that it is not the primary beneficiary of five of the JVs because NVR and the other JV partner either share power or the other JV partner has the controlling financial interest. The aggregate investment in unconsolidated JVs was approximately $59,800 and $80,100 at December 31, 2015 and 2014, respectively, and is reported in the “Other assets” line item on the accompanying consolidated balance sheets. For the remaining JV, NVR has concluded that it is the primary beneficiary because the Company has the controlling financial interest in the JV. The condensed balance sheets of the consolidated JV at December 31, 2015 and 2014 were as follows: December 31, 2015 2014 Assets: Cash $ 990 $ 481 Restricted cash — 160 Other assets 379 332 Land under development 380 2,617 Total assets $ 1,749 $ 3,590 Liabilities and equity: Debt $ — $ 64 Accrued expenses 567 1,231 Equity 1,182 2,295 Total liabilities and equity $ 1,749 $ 3,590 At December 31, 2014, the Company had an aggregate investment totaling approximately $82,000 in five JVs that were expected to produce approximately 8,800 finished lots, of which approximately 3,300 were not under contract with NVR. In addition, at December 31, 2014, NVR had additional funding commitments in the aggregate totaling $11,850 to two of the JVs. The Company recognizes income from the JVs as a reduction to the lot cost of the lots purchased from the respective JVs when homes are settled and is based on expected total profitability and the total number of lots expected to be produced by the respective JVs. Distributions received from the unconsolidated JVs are allocated between return of capital and distributions of earnings based on the ratio of capital contributed by NVR to the total expected returns for the respective JVs, and are classified within the accompanying consolidated statements of cash flows as cash flows from investing activities and operating activities, respectively.

Land Under Development

Land Under Development	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
Land Under Development	5. Land Under Development As of December 31, 2015, NVR directly owned four separate raw parcels of land with a carrying value of $60,611 that it intends to develop into approximately 980 finished lots primarily for use in its homebuilding operations. The Company has additional funding commitments related to one of its raw land parcel’s development activity of approximately $19,200, a portion of which the Company expects will be offset by development credits of approximately $9,600 . In addition, as of December 31, 2015, the Company had an obligation under a letter of credit in the amount of approximately $2,200 related to that parcel of land. The Company capitalizes interest costs to land under development during the active development of finished lots (see Note 6 for further discussion of capitalized interest). None of the raw parcels had any indicators of impairment as of December 31, 2015. In February 2016, the Company acquired a raw parcel of land at a cost of approximately $150,000 which is expected to produce approximately 1,000 lots, of which approximately 160 lots are under contract with unrelated parties. Based on current market conditions, NVR may, on a limited basis, directly acquire additional raw parcels to develop into finished lots. As of December 31, 2014, NVR directly owned four separate raw parcels of land with a carrying value of $33,689 and expected to produce approximately 480 finished lots.

Capitalized Interest

Capitalized Interest	12 Months Ended
	Dec. 31, 2015
Interest Costs Incurred Capitalized [Abstract]
Capitalized Interest	6. Capitalized Interest The Company capitalizes interest costs to land under development during the active development of finished lots. In addition, the Company capitalizes interest costs to its joint venture investments while the investments are considered qualified assets pursuant to ASC 835-20, Interest December 31, 2015 2014 2013 Interest capitalized, beginning of year $ 4,072 $ 3,294 $ 893 Interest incurred 25,155 24,994 25,048 Interest charged to interest expense (23,559 ) (23,140 ) (22,385 ) Interest charged to cost of sales (1,234 ) (1,076 ) (262 ) Interest capitalized, end of year $ 4,434 $ 4,072 $ 3,294

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	7. Related Party Transactions During the year ended December 31, 2015, NVR entered into fixed price purchase agreements to purchase finished building lots for a total purchase price of approximately $68,000 with Elm Street Development, Inc. (“Elm Street”), which is controlled by one of the Company’s directors, William Moran. The independent members of the Company’s Board of Directors approved these transactions. During 2015, 2014 and 2013, NVR purchased developed lots at market prices from Elm Street for approximately $41,200, $50,100 and $38,400, respectively. The Company also continues to control a parcel of raw land expected to yield approximately 2,400 finished lots through a joint venture entered into with Elm Street during 2009. NVR did not make any capital contributions to that joint venture in 2015 or 2014. Further, during 2015, 2014 and 2013, the Company paid Elm Street $143 per year to manage the development of a property that the Company purchased from Elm Street in 2010.

Property, Plant and Equipment,

Property, Plant and Equipment, net	12 Months Ended
	Dec. 31, 2015
Property Plant And Equipment [Abstract]
Property, Plant and Equipment, net	8. Property, Plant and Equipment, net December 31, 2015 2014 Homebuilding: Office facilities and other $ 31,696 $ 29,326 Model home furniture and fixtures 33,041 28,945 Production facilities 51,636 47,796 116,373 106,067 Less: accumulated depreciation (71,722 ) (59,825 ) $ 44,651 $ 46,242 Mortgage Banking: Office facilities and other $ 10,629 $ 10,508 Less: accumulated depreciation (5,316 ) (4,319 ) $ 5,313 $ 6,189

Debt

Debt	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt	9. Debt Senior Notes On September 10, 2012, NVR completed an offering for $600,000 of Senior Notes under a shelf registration statement filed on September 5, 2012 with the Securities and Exchange Commission (the “SEC”). The Senior Notes were issued at a discount to yield 3.97% and have been reflected net of the unamortized discount in the accompanying consolidated balance sheet. The offering of the Senior Notes resulted in aggregate net proceeds of approximately $593,900, after deducting underwriting discounts and other offering expenses. The Senior Notes mature on September 15, 2022 and bear interest at 3.95%, payable semi-annually in arrears on March 15 and September 15. The Senior Notes are senior unsecured obligations and rank equally in right of payment with any of NVR’s existing and future unsecured senior indebtedness, will rank senior in right of payment to any of NVR’s future indebtedness that is by its terms expressly subordinated to the Senior Notes and will be effectively subordinated to any of NVR’s existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness. The indenture governing the Senior Notes has, among other items, and subject to certain exceptions, covenants that restrict the Company’s ability to create, incur, assume or guarantee secured debt, enter into sale and leaseback transactions and conditions related to mergers and/or the sale of assets. Master Repurchase Agreement On July 29, 2015, NVRM renewed and amended its revolving mortgage repurchase agreement with U.S. Bank National Association (the “Repurchase Agreement”). The purpose of the Repurchase Agreement is to finance the origination of mortgage loans by NVRM. The Repurchase Agreement provides for loan purchases up to $25,000, subject to certain sub limits. The Repurchase Agreement expires on July 27, 2016. Advances under the Repurchase Agreement carry a Pricing Rate based on the LIBOR Rate plus the LIBOR Margin, as determined under the Repurchase Agreement, provided that the Pricing Rate shall not be less than 2.70%. There are several restrictions on purchased loans, including that they cannot be sold to others, they cannot be pledged to anyone other than the agent, and they cannot support any other borrowing or repurchase agreement. As of December 31, 2015 and 2014, there was no debt outstanding under the Repurchase Agreement. There were no borrowing base limitations at December 31, 2015. The Repurchase Agreement contains various affirmative and negative covenants. The negative covenants include, among others, certain limitations on transactions involving acquisitions, mergers, the incurrence of debt, sale of assets and creation of liens upon any of its Mortgage Notes. Additional covenants include (i) a tangible net worth requirement, (ii) a minimum liquidity requirement, (iii) a minimum net income requirement, and (iv) a maximum leverage ratio requirement. The Company was in compliance with all covenants under the Repurchase Agreement at December 31, 2015. On January 18, 2016, NVRM entered into the Seventh Amendment (the “Amendment”) to its Repurchase Agreement. The Amendment increased borrowing capacity to $150,000, subject to certain sub-limits, and provides for an incremental commitment pursuant to which NVRM may from time to time request increases in the total commitment available under the Repurchase Agreement by up to $50,000 in the aggregate. The Amendment did not materially change any other terms and conditions of the Repurchase Agreement.

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Common Stock	10. Common Stock There were approximately 3,891 and 4,049 common shares outstanding at December 31, 2015 and 2014, respectively. As of December 31, 2015, NVR had reacquired a total of approximately 24,100 shares of NVR common stock at an aggregate cost of approximately $6,307,000 since December 31, 1993. The Company made the following share repurchases during the years indicated: Year Ended December 31, 2015 2014 2013 Aggregate purchase price $ 431,367 $ 567,544 $ 554,491 Number of shares repurchased 290 508 581 Since 1999, the Company has issued shares from the treasury for all stock option exercises. There have been approximately 7,418 shares reissued from the treasury in satisfaction of stock option exercises, vesting of restricted share units and other employee benefit obligations. The Company issued 131, 123 and 102 such shares during 2015, 2014 and 2013, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The provision for income taxes consists of the following: Year Ended December 31, 2015 2014 2013 Current: Federal $ 180,895 $ 148,221 $ 137,675 State 36,142 28,881 30,352 Deferred: Federal 2,681 (4,451 ) (13,402 ) State 567 (735 ) (2,406 ) $ 220,285 $ 171,916 $ 152,219 In addition to amounts applicable to income before taxes, the following income tax benefits were recorded in shareholders’ equity: Year Ended December 31, 2015 2014 2013 Income tax benefits arising from compensation expense for tax purposes in excess of amounts recognized for financial statement purposes $ 23,311 $ 9,437 $ 20,636 Deferred income taxes on NVR’s consolidated balance sheets were comprised of the following: December 31, 2015 2014 Deferred tax assets: Other accrued expenses and contract land deposit reserve $ 77,781 $ 84,817 Deferred compensation 7,280 7,500 Equity-based compensation expense 45,361 46,257 Inventory 12,722 11,153 Unrecognized tax benefit 24,740 24,485 Other 9,391 5,847 Total deferred tax assets 177,275 180,059 Less: deferred tax liabilities 6,489 7,371 Net deferred tax position $ 170,786 $ 172,688 Deferred tax assets arise principally as a result of various accruals required for financial reporting purposes and equity-based compensation expense, which are not currently deductible for tax return purposes. Management believes that the Company will have sufficient available carry-backs and future taxable income to make it more likely than not that the net deferred tax assets will be realized. Federal taxable income is estimated to be approximately $472,728 for the year ended December 31, 2015, and was $391,781 for the year ended December 31, 2014. A reconciliation of income tax expense in the accompanying consolidated statements of income to the amount computed by applying the statutory federal income tax rate of 35% to income before taxes is as follows: Year Ended December 31, 2015 2014 2013 Income taxes computed at the federal statutory rate $ 211,124 $ 158,741 $ 146,544 State income taxes, net of federal income tax benefit 23,919 18,800 18,210 Other, net (14,758 ) (5,625 ) (12,535 ) $ 220,285 $ 171,916 $ 152,219 The Company’s effective tax rate in 2015, 2014 and 2013 was 36.52%, 37.90% and 36.36%, respectively. During 2014, the Company recognized income tax expense of approximately $7,000 due to the reversal of certain previously recognized tax deductions. The Company files a consolidated U.S. federal income tax return, as well as state and local tax returns in all jurisdictions where the Company maintains operations. With few exceptions, the Company is no longer subject to income tax examinations by tax authorities for years prior to 2012. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Year Ended December 31, 2015 2014 Balance at beginning of year $ 46,004 $ 43,796 Additions based on tax positions related to the current year 3,897 6,008 Reductions for tax positions of prior years (3,310 ) (3,800 ) Settlements — — Balance at end of year $ 46,591 $ 46,004 If recognized, the total amount of unrecognized tax benefits that would affect the effective tax rate (net of the federal tax benefit) is $30,284 as of December 31, 2015. The Company recognizes interest related to unrecognized tax benefits as a component of income tax expense. For the year ended December 31, 2015, the Company recognized a net addition of accrued interest on unrecognized tax benefits in the amount of $125. For the year ended December 31, 2014, the Company had a net reversal to accrued interest on unrecognized tax benefits in the amount of $184. For the year ended December 31, 2013, the Company recognized a net addition of accrued interest on unrecognized tax benefits in the amount of $625. As of December 31, 2015 and 2014, the Company had a total of $21,221 and $21,096, respectively, of accrued interest on unrecognized tax benefits which are included in “Accrued expenses and other liabilities” on the accompanying consolidated balance sheets. Based on its historical experience in dealing with various taxing authorities, the Company has found that it is the administrative practice of these authorities to not seek penalties from the Company for the tax positions it has taken on its returns, related to its unrecognized tax benefits. Therefore, the Company does not accrue penalties for the positions in which it has an unrecognized tax benefit. However, if such penalties were to be accrued, they would be recorded as a component of income tax expense. The Company believes that within the next 12 months, it is reasonably possible that the unrecognized tax benefits as of December 31, 2015 will be reduced by approximately $10,210 due to statute expiration and effectively settled positions in various state jurisdictions.

Equity-Based Compensation, Prof

Equity-Based Compensation, Profit Sharing and Deferred Compensation Plans	12 Months Ended
	Dec. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity-Based Compensation, Profit Sharing and Deferred Compensation Plans	12. Equity-Based Compensation, Profit Sharing and Deferred Compensation Plans Equity-Based Compensation Plans NVR’s equity-based compensation plans provide for the granting of non-qualified stock options to purchase shares of NVR common stock (“Options”) and restricted share units (“RSUs”) to key management employees, including executive officers and Board members, of the Company. The exercise price of Options granted is equal to the closing price of the Company’s common stock on the New York Stock Exchange (the “NYSE”) on the day prior to the date of grant, and RSUs are issued at a $0 exercise price. Options are granted for a ten-year term and typically vest in separate tranches over periods of 3 to 6 years. The vesting for certain Options is contingent solely on continued employment or service as a Director, while vesting for other Options is contingent upon both continued employment or service as a Director and the achievement of a performance metric as discussed further in the summary description of the NVR, Inc. 2014 Equity Incentive Plan below. RSUs generally vest in separate tranches over periods of 2 to 4 years, based solely on continued employment or continued service as a Director. The following table provides a summary of each of the Company’s equity-based compensation plans for any plan with grants outstanding at December 31, 2015: Equity-Based Compensation Plans Shares Authorized Options/RSUs Outstanding Shares Available to Issue 1998 Management Long-Term Stock Option Plan 1,000 6 — 1998 Directors' Long-Term Stock Option Plan 150 8 — 2000 Broadly-Based Stock Option Plan 2,000 126 — 2010 Equity Incentive Plan (1) 700 359 39 NVR, Inc. 2014 Equity Incentive Plan (2) 950 648 302 (1) During 2010, the Company’s shareholders approved the 2010 Equity Incentive Plan (the “2010 Plan”). The 2010 Plan authorizes the Company to issue Options and RSUs to key management employees, including executive officers and Board members. Of the 700 aggregate shares available to issue, up to 240 may be granted in the form of RSUs. There were 308 Options and 51 RSUs outstanding as of December 31, 2015. Of the 39 shares available to be issued under the 2010 Plan, 36 may be granted as RSUs. (2) During 2014, the Company’s shareholders approved the NVR, Inc. 2014 Equity Incentive Plan (the “2014 Plan”). The 2014 Plan authorizes the Company to issue Options to key management employees, including executive officers and Board members. Option grants under the 2014 Plan are generally divided such that vesting for 50% of the Option grant is solely contingent upon continued employment or continued service as a Director, while vesting for the remaining 50% of the Option grant is contingent upon both continued employment or service as a Director and the achievement of a performance metric. The performance metric is based on the Company’s return on capital performance during a specified three year period based on the date of Option grant, with the initial performance period being 2014 through 2016. Options granted under the 2014 Plan generally vest annually over four years in 25% increments beginning on December 31, 2016. During 2015, the Company issued 38 Options under the 2014 Plan. Substantially all of the Options granted in 2015 will vest annually over four years in 25% increments beginning on December 31, 2017. Vesting for 24 of the Options granted is contingent both upon continued employment or continued service as a director and the Company’s return on capital performance. Vesting for the other 14 Options granted under the 2014 Plan is contingent solely upon continued employment or continued service as a director. The Company also issued 10 Options under the 2010 Plan during 2015. All of the 2010 Plan Options granted during 2015 will vest annually over four years in 25% increments beginning on December 31, 2017. The vesting for the Options granted under the 2010 Plan is based solely on continued employment. The following table provides additional information relative to NVR’s equity-based compensation plans for the year ended December 31, 2015: Shares Weighted Exercise Weighted Contract Aggregate Intrinsic Stock Options Outstanding at December 31, 2014 1,201 $ 947.39 Granted 48 1,417.22 Exercised (129 ) 663.96 Forfeited (24 ) 1,060.29 Outstanding at December 31, 2015 1,096 $ 998.88 7.4 $ 705,684 Exercisable at December 31, 2015 272 $ 721.35 4.8 $ 250,617 RSUs Outstanding at December 31, 2014 55 Granted — Vested (2 ) Forfeited (2 ) Outstanding at December 31, 2015 51 $ 83,340 Vested, but not issued at December 31, 2015 33 $ 53,710 To estimate the grant-date fair value of its Options, the Company uses the Black-Scholes option-pricing model (the “Pricing Model”). The Pricing Model estimates the per share fair value of an option on its date of grant based on the following factors: the option’s exercise price; the price of the underlying stock on the date of grant; the estimated dividend yield; a risk-free interest rate; the estimated option term; and the expected volatility. For the risk-free interest rate, the Company uses U.S. Treasury STRIPS which mature at approximately the same time as the option’s expected holding term. For expected volatility, NVR has concluded that its historical volatility over the option’s expected holding term provides the most reasonable basis for this estimate. The fair value of the Options granted during 2015, 2014 and 2013 was estimated on the grant date using the Pricing Model, based on the following assumptions: 2015 2014 2013 Estimated option life 5.17 years 5.16 years 5.20 years Risk free interest rate (range) 1.04%-2.07% 1.06%-2.49% 0.42%-2.10% Expected volatility (range) 17.00%-26.79% 18.26%-30.57% 17.98%-32.72% Expected dividend rate 0.00% 0.00% 0.00% Weighted average grant-date fair value per share of options granted $ 296.50 $ 267.66 $ 268.13 In accordance with ASC 718, Compensation – Stock Compensation Compensation cost for Options and RSUs is recognized on a straight-line basis over the requisite service period for the entire award (from the date of grant through the period of the last separately vesting portion of the grant). For the recognition of equity-based compensation, the RSUs are treated as a separate award from the Options. Additionally, the Options which are subject to a performance condition are treated as a separate award from the “service-only” Options, and compensation expense is recognized when it becomes probable that the stated performance target will be achieved. The Company currently believes that it is probable that the performance condition will be satisfied at the target level and is recognizing compensation expense related to such Options accordingly. Compensation cost is recognized within the income statement in the same expense line as the cash compensation paid to the respective employees. ASC 718 also requires the Company to estimate forfeitures in calculating the expense related to equity-based compensation and requires that the compensation costs of equity-based awards be recognized net of estimated forfeitures. The impact on compensation costs due to changes in the expected forfeiture rate will be recognized in the period that they become known. In 2015, 2014 and 2013, the Company recognized $54,091, $63,227, and $34,296 in equity-based compensation costs, respectively, and approximately $19,700, $22,900, and $12,100 in tax benefit related to equity-based compensation costs, respectively. In 2013, the Company reversed approximately $7,900 in equity-based compensation expense previously recorded to adjust stock option forfeiture rates based on actual forfeiture experience. The reversal was made to the accounts originally charged as follows; approximately $7,100 and $300 from homebuilding general and administrative and cost of sales expense, respectively, and approximately $500 from NVRM general and administrative expense. As of December 31, 2015, the total unrecognized compensation cost for all outstanding Options and RSUs equaled approximately $152,000, net of estimated forfeitures. The unrecognized compensation cost will be recognized over each grant’s applicable vesting period with the latest vesting date being December 31, 2021. The weighted-average period over which the unrecognized compensation will be recorded is equal to approximately 2.4 years. The Company settles Option exercises and vesting of RSUs by issuing shares of treasury stock to Option holders. Shares are relieved from the treasury account based on the weighted average cost of treasury shares acquired. During the years ended December 31, 2015, 2014 and 2013, the Company issued 131, 123 and 102 shares, respectively, from the treasury account for Option exercises and vesting of RSUs. Information with respect to the vested RSUs and exercised Options is as follows: Year Ended December 31, 2015 2014 2013 Aggregate exercise proceeds (1) $ 85,948 $ 76,153 $ 14,834 Aggregate intrinsic value on exercise dates $ 99,288 $ 62,136 $ 84,908 (1) Aggregate exercise proceeds include the Option exercise price received in cash or the fair market value of NVR stock surrendered by the optionee in lieu of cash. Profit Sharing Plans NVR has a trustee-administered, profit sharing retirement plan (the “Profit Sharing Plan”) and an Employee Stock Ownership Plan (“ESOP”) covering substantially all employees. The Profit Sharing Plan and the ESOP provide for annual discretionary contributions in amounts as determined by the NVR Board of Directors. The combined plan contribution for the years ended December 31, 2015, 2014 and 2013 was $17,900, $16,980 and $12,012, respectively. The ESOP purchased approximately 11 and 14 shares of NVR common stock in the open market for the 2015 and 2014 plan year contributions, respectively, using cash contributions provided by the Company. As of December 31, 2015, all shares held by the ESOP had been allocated to participants’ accounts. The 2015 plan year contribution was funded and fully allocated to participants in February 2016. Deferred Compensation Plans The Company has two deferred compensation plans (“Deferred Comp Plans”). The specific purpose of the Deferred Comp Plans is to i) establish a vehicle whereby named executive officers may defer the receipt of salary and bonus that otherwise would be nondeductible for Company tax purposes into a period where the Company would realize a tax deduction for the amounts paid, and ii) to enable certain employees who are subject to the Company’s stock holding requirements to acquire shares of the Company’s common stock on a pre-tax basis in order to more quickly meet, and maintain compliance with those stock holding requirements. Amounts deferred into the Deferred Comp Plans are invested in NVR common stock, held in a rabbi trust account, and are paid out in a fixed number of shares upon expiration of the deferral period. The rabbi trust account held 109 shares of NVR common stock as of both December 31, 2015 and 2014. There were no shares of NVR common stock contributed to the rabbi trust in 2015 or 2014. Shares held by the Deferred Comp Plans are treated as outstanding shares in the Company’s earnings per share calculation for each of the years ended December 31, 2015, 2014 and 2013.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	12 Months Ended
	Dec. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	13. Commitments and Contingent Liabilities NVR is committed under multiple non-cancelable operating leases involving office space, model homes, production facilities, automobiles and equipment. Future minimum lease payments under these operating leases as of December 31, 2015 are as follows: Year Ending December 31, 2016 $ 24,032 2017 17,926 2018 13,945 2019 12,791 2020 8,291 Thereafter 22,414 99,399 Sublease income (48 ) $ 99,351 Total rent expense incurred under operating leases was $48,056, $45,508 and $39,608 for the years ended December 31, 2015, 2014 and 2013, respectively. The Company generally does not engage in the land development business. Instead, the Company typically acquires finished building lots at market prices from various development entities under fixed price purchase agreements. The purchase agreements require deposits that may be forfeited if the Company fails to perform under the agreement. The deposits required under the purchase agreements are in the form of cash or letters of credit in varying amounts, and typically range up to 10% of the aggregate purchase price of the finished lots. The Company believes this lot acquisition strategy reduces the financial requirements and risks associated with direct land ownership and land development. The Company generally seeks to maintain control over a supply of lots believed to be suitable to meet its five-year business plan. At December 31, 2015, assuming that contractual development milestones are met and the Company exercises its option, the Company expects to place additional forfeitable deposits with land developers under existing lot option contracts of approximately $94,200. The Company also has one specific performance contract pursuant to which the Company is committed to purchase 10 finished lots at an aggregate purchase price of approximately $1,505. Additionally, as of December 31, 2015, we had funding commitments totaling approximately $19,200 under a joint development agreement related to our land under development, a portion of which we expect will be offset by development credits of approximately $9,600. During the ordinary course of operating the homebuilding and mortgage banking businesses, the Company is required to enter into bond or letter of credit arrangements with local municipalities, government agencies, or land developers to collateralize its obligations under various contracts. The Company had approximately $58,300 of contingent obligations under such agreements, including approximately $11,900 for letters of credit issued under an uncommitted, collateralized letter of credit facility as of December 31, 2015. The Company believes it will fulfill its obligations under the related contracts and does not anticipate any material losses under these bonds or letters of credit. The following table reflects the changes in the Company’s warranty reserve (see Note 1 herein for further discussion of warranty/product liability reserves): Year Ended December 31, 2015 2014 2013 Warranty reserve, beginning of year $ 94,060 $ 101,507 $ 62,742 Provision 47,003 51,668 82,860 Payments (53,656 ) (59,115 ) (44,095 ) Warranty reserve, end of year $ 87,407 $ 94,060 $ 101,507 The warranty reserve provision for 2013 included two warranty accrual charges totaling approximately $31,600. The first charge of approximately $15,600 related to remediation of primarily water infiltration issues in a single completed community. The second charge of approximately $16,000 was recorded to increase the warranty accrual for a non-recurring service issue. In June 2010, the Company received a Request for Information from the United States Environmental Protection Agency (“EPA”) pursuant to Section 308 of the Clean Water Act. The request sought information about storm water discharge practices in connection with homebuilding projects completed or underway by the Company in New York and New Jersey. The Company cooperated with this request, and provided information to the EPA. The Company was subsequently informed by the United States Department of Justice (“DOJ”) that the EPA forwarded the information on the matter to the DOJ, and the DOJ requested that the Company meet with the government to discuss the status of the case. Meetings took place in January 2012, August 2012 and November 2014 with representatives from both the EPA and DOJ. The Company has continued discussions with the EPA and DOJ and is presently engaged in settlement discussions with them. Any settlement is expected to include injunctive relief and payment of a civil penalty. Although there can be no assurance that a settlement will be reached, the Company recorded a liability and corresponding expense associated with an estimated civil penalty amount on the accompanying consolidated financial statements in 2015. The Company and its subsidiaries are also involved in various other litigation arising in the ordinary course of business. In the opinion of management, and based on advice of legal counsel, this litigation is not expected to have a material adverse effect on the financial position, results of operations or cash flows of the Company. Legal costs incurred in connection with outstanding litigation are expensed as incurred.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value	14. Fair Value GAAP assigns a fair value hierarchy to the inputs used to measure fair value. Level 1 inputs are quoted prices in active markets for identical assets and liabilities. Level 2 inputs are inputs other than quoted market prices that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs. Financial Instruments The estimated fair value of NVR’s Senior Notes as of December 31, 2015 was $606,000. The estimated fair value is based on recent market prices of similar transactions, which is classified as Level 2 within the fair value hierarchy. The carrying value was $599,260 at December 31, 2015. Except as otherwise noted below, NVR believes that insignificant differences exist between the carrying value and the fair value of its financial instruments, which consists primarily of cash equivalents, due to their short term nature. Derivative Instruments and Mortgage Loans Held for Sale In the normal course of business, NVRM, enters into contractual commitments to extend credit to buyers of single-family homes with fixed expiration dates. The commitments become effective when the borrowers “lock-in” a specified interest rate within time frames established by NVRM. All mortgagors are evaluated for credit worthiness prior to the extension of the commitment. Market risk arises if interest rates move adversely between the time of the “lock-in” of rates by the borrower and the sale date of the loan to a broker/dealer. To mitigate the effect of the interest rate risk inherent in providing rate lock commitments to borrowers, NVRM enters into optional or mandatory delivery forward sales contracts to sell whole loans and mortgage-backed securities to broker/dealers. The forward sales contracts lock in an interest rate and price for the sale of loans similar to the specific rate lock commitments. NVRM does not engage in speculative or trading derivative activities. Both the rate lock commitments to borrowers and the forward sale contracts to broker/dealers are undesignated derivatives and, accordingly, are marked to fair value through earnings. At December 31, 2015, there were contractual commitments to extend credit to borrowers aggregating $462,329 and open forward delivery contracts aggregating $737,052, which hedge both the rate lock loan commitments and closed loans held for sale. The fair value of the Company’s rate lock commitments to borrowers and the related input levels includes, as applicable: i) the assumed gain/loss of the expected resultant loan sale (Level 2); ii) the effects of interest rate movements between the date of the rate lock and the balance sheet date (Level 2); and iii) the value of the servicing rights associated with the loan (Level 2). The assumed gain/loss considers the excess servicing to be received or buydown fees to be paid upon securitization of the loan. The excess servicing and buydown fees are calculated pursuant to contractual terms with investors. To calculate the effects of interest rate movements, NVRM utilizes applicable published mortgage-backed security prices, and multiplies the price movement between the rate lock date and the balance sheet date by the notional loan commitment amount. NVRM sells all of its loans on a servicing released basis, and receives a servicing released premium upon sale. Thus, the value of the servicing rights, which averaged 120 basis points of the loan amount as of December 31, 2015, is included in the fair value measurement and is based upon contractual terms with investors and varies depending on the loan type. NVRM assumes an approximate 12% fallout rate when measuring the fair value of rate lock commitments. Fallout is defined as locked loan commitments for which NVRM does not close a mortgage loan and is based on historical experience. The fair value of NVRM’s forward sales contracts to broker/dealers solely considers the market price movement of the same type of security between the trade date and the balance sheet date (Level 2). The market price changes are multiplied by the notional amount of the forward sales contracts to measure the fair value. Mortgage loans held for sale are recorded at the lower of cost or fair value, net of deferred origination costs, until sold. Fair value is measured using Level 2 inputs. The fair value of loans held for sale of $319,553 included on the accompanying consolidated balance sheet has been increased by $341 from the aggregate principal balance of $319,212. The undesignated derivative instruments are included on the accompanying consolidated balance sheet, as of December 31, 2015, as follows: Fair Value Balance Sheet Location Rate lock commitments: Gross assets $ 5,549 Gross liabilities 2,362 Net rate lock commitments $ 3,187 NVRM - Other assets Forward sales contracts: Gross assets $ 3,994 Gross liabilities 190 Net forward sales contracts $ 3,804 NVRM - Other assets The fair value measurement as of December 31, 2015 was as follows: Notional or Principal Amount Assumed Gain/(Loss) From Loan Sale Interest Rate Movement Effect Servicing Rights Value Security Price Change Total Fair Value Measurement Gain/(Loss) Rate lock commitments $ 462,329 $ (1,108 ) $ (774 ) $ 5,069 $ — $ 3,187 Forward sales contracts $ 737,052 — — — 3,804 3,804 Mortgages held for sale $ 319,212 (954 ) (2,353 ) 3,648 — 341 Total fair value measurement $ (2,062 ) $ (3,127 ) $ 8,717 $ 3,804 $ 7,332 For the years ended December 31, 2015, 2014 and 2013, NVRM recorded a fair value adjustment to income of $3,508, $3,305 and $3,021, respectively. Unrealized gains/losses from the change in the fair value measurements are included in earnings as a component of mortgage banking fees in the accompanying consolidated statements of income. The fair value measurement will be impacted in the future by the change in the value of the servicing rights, interest rate movements, security price fluctuations, and the volume and product mix of NVRM’s closed loans and locked loan commitments.

Mortgage Loan Loss Allowance

Mortgage Loan Loss Allowance	12 Months Ended
	Dec. 31, 2015
Text Block [Abstract]
Mortgage Loan Loss Allowance	15. Mortgage Loan Loss Allowance During the years ended December 31, 2015, 2014 and 2013, the Company recognized pre-tax charges for loan losses related to mortgage loans sold of approximately $2,700, $2,400 and $2,300, respectively. Included in the Mortgage Banking segment’s “Accounts payable and other liabilities” line item on the accompanying consolidated balance sheets is a mortgage loan loss allowance equal to approximately $12,300 and $10,000 at December 31, 2015 and 2014, respectively.

Quarterly Results (unaudited)

Quarterly Results (unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (unaudited)	16. Quarterly Results (unaudited) The following table sets forth unaudited selected financial data and operating information on a quarterly basis for the years ended December 31, 2015 and 2014. Year Ended December 31, 2015 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter Revenues – homebuilding operations $ 1,528,084 $ 1,374,467 $ 1,221,111 $ 941,538 Gross profit – homebuilding operations $ 289,496 $ 262,795 $ 234,257 $ 159,870 Mortgage banking fees $ 27,191 $ 27,884 $ 22,522 $ 16,211 Net income $ 134,004 $ 116,470 $ 93,395 $ 39,058 Diluted earnings per share $ 31.92 $ 27.11 $ 21.91 $ 9.22 Contracts for sale, net of cancellations (units) 3,100 3,258 3,796 3,926 Settlements (units) 4,010 3,607 3,175 2,534 Backlog, end of period (units) 6,229 7,139 7,488 6,867 Loans closed $ 1,042,440 $ 951,872 $ 859,403 $ 638,627 Year Ended December 31, 2014 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter Revenues – homebuilding operations $ 1,306,632 $ 1,185,160 $ 1,084,080 $ 799,187 Gross profit – homebuilding operations $ 236,031 $ 225,105 $ 201,302 $ 144,035 Mortgage banking fees $ 21,406 $ 18,006 $ 17,974 $ 12,123 Net income $ 99,451 $ 90,152 $ 68,178 $ 23,849 Diluted earnings per share $ 23.24 $ 20.70 $ 15.17 $ 5.16 Contracts for sale, net of cancellations (units) 2,713 2,936 3,415 3,325 Settlements (units) 3,469 3,236 2,943 2,211 Backlog, end of period (units) 5,475 6,231 6,531 6,059 Loans closed $ 881,930 $ 803,125 $ 675,625 $ 472,933

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of NVR, Inc. and its subsidiaries (“NVR” or the “Company”) and certain other entities in which the Company is deemed to be the primary beneficiary (see Notes 3 and 4 herein for additional information). All significant intercompany transactions have been eliminated in consolidation.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Management continually evaluates the estimates used to prepare the consolidated financial statements and updates those estimates as necessary. In general, the Company’s estimates are based on historical experience, on information from third party professionals, and other various assumptions that are believed to be reasonable under the facts and circumstances. Actual results could differ materially from those estimates made by management.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include short-term investments with original maturities of three months or less. At December 31, 2015 and 2014, $990 and $481, respectively, of cash related to a consolidated variable interest entity is included in “Assets related to consolidated variable interest entity” on the accompanying consolidated balance sheet. The homebuilding segment had restricted cash of $23,440 and $24,106 at December 31, 2015 and 2014, respectively. Restricted cash in both 2015 and 2014 was attributable to holding requirements related to outstanding letters of credit issued under the Company’s letter of credit agreement as discussed further in Note 13 herein. In addition, restricted cash relates to customer deposits for certain home sales. Restricted cash is recorded in “Other assets” in the homebuilding section of the accompanying consolidated balance sheets. The mortgage banking segment had restricted cash of $2,038 and $1,947 at December 31, 2015 and 2014, respectively, which included amounts collected from customers for loans in process and closed mortgage loans held for sale. The mortgage banking segment’s restricted cash is recorded in “Other assets” in the mortgage banking section of the accompanying consolidated balance sheets.
Homebuilding Inventory	Homebuilding Inventory The carrying value of inventory is stated at the lower of cost or market value. Cost of lots and completed and uncompleted housing units represent the accumulated actual cost of the units. Field construction supervisors’ salaries and related direct overhead expenses are included in inventory costs. Interest costs are not capitalized into inventory, with the exception of land under development and joint venture investments, as applicable (see below). Upon settlement, the cost of the unit is expensed on a specific identification basis. Cost of building materials is determined on a first-in, first-out basis. Sold inventory is evaluated for impairment based on the contractual sales price compared to the total estimated cost to construct plus a reasonable profit margin. Unsold inventory is evaluated for impairment by analyzing recent comparable sales prices within the applicable community compared to the costs incurred to date plus the expected costs to complete and a reasonable profit margin. Any calculated impairments are recorded immediately.
Contract Land Deposits	Contract Land Deposits The Company purchases finished lots under fixed price purchase agreements that require deposits that may be forfeited if NVR fails to perform under the contract. The deposits are in the form of cash or letters of credit in varying amounts and represent a percentage of the aggregate purchase price of the finished lots. NVR maintains an allowance for losses on contract land deposits that reflects the Company’s judgment of the present loss exposure in the existing contract land deposit portfolio at the end of the reporting period. To analyze contract land deposit impairments, NVR utilizes an Accounting Standards Codification (“ASC”) 450, Contingencies NVR’s analysis is focused on whether the Company can sell houses profitably in a particular community in the current market with which the Company is faced. Because the Company does not own the finished lots on which the Company has placed a contract land deposit, if the above analysis leads to a determination that the Company cannot sell homes profitably at the current contractual lot price, the Company then determines whether it will elect to default under the contract, forfeit the deposit and terminate the contract, or whether the Company will attempt to restructure the lot purchase contract, which may require it to forfeit the deposit to obtain contract concessions from a developer. The Company also assesses whether impairment is present due to collectability issues resulting from a developer’s non-performance because of financial or other conditions. For the years ended December 31, 2015, 2014 and 2013, the Company recognized pre-tax recoveries of $11,058, $225 and $5,313, respectively, of contract land deposits previously determined to be unrecoverable. The contract land deposit assets on the accompanying consolidated balance sheets are shown net of $42,239 and $56,074 impairment valuation allowances at December 31, 2015, and 2014, respectively.
Land Under Development	Land Under Development On a limited basis, NVR directly acquires raw parcels of land already zoned for its intended use to develop into finished lots. Land under development includes the land acquisition costs, direct improvement costs, capitalized interest, where applicable, and real estate taxes. Land under development, including the land under development held by the Company’s unconsolidated joint ventures and the related joint venture investments, is reviewed for potential write-downs when impairment indicators are present. In addition to considering market and economic conditions, the Company assesses land under development impairments on a community-by-community basis, analyzing, as applicable, current sales absorption levels, recent sales’ gross profit, and the dollar differential between the projected fully-developed cost of the lots and the current market price for lots. If indicators of impairment are present for a community, NVR performs an analysis to determine if the undiscounted cash flows estimated to be generated by those assets are less than their carrying amounts, and if so, impairment charges are required to be recorded if the fair value of such assets is less than their carrying amounts. For those assets deemed to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. The Company’s determination of fair value is primarily based on discounting the estimated future cash flows at a rate commensurate with the inherent risks associated with the assets and related estimated cash flow streams. NVR does not believe that any of the land under development is impaired at this time.
Property, Plant, and Equipment	Property, Plant, and Equipment Property, plant, and equipment are carried at cost less accumulated depreciation and amortization. Depreciation is based on the estimated useful lives of the assets using the straight-line method. Model home furniture and fixtures are generally depreciated over a two-year period, office facilities and other equipment are depreciated over a period of three to ten years and production facilities are depreciated over periods of five to forty years.
Intangible Assets	Intangible Assets On December 31, 2012, the Company acquired substantially all of the assets of Heartland Homes, Inc., which resulted in the Company recording finite-lived intangible assets and goodwill. The Company completed its annual assessment for impairment of goodwill and management determined that there was no impairment. As of December 31, 2015 and 2014, finite-lived intangible assets attributable to the Heartland Homes, Inc. acquisition, net of accumulated amortization, totaled $3,541 and $4,923, respectively. As of both December 31, 2015 and 2014, the goodwill value was $441. The remaining finite-lived intangible assets will be amortized on a straight-line basis over a weighted average life of 4 years.
Warranty/Product Liability Accruals	Warranty/Product Liability Accruals The Company establishes warranty and product liability reserves to provide for estimated future expenses as a result of construction and product defects, product recalls and litigation incidental to NVR’s homebuilding business. Liability estimates are determined based on management’s judgment considering such factors as historical experience, the likely current cost of corrective action, manufacturers’ and subcontractors’ participation in sharing the cost of corrective action, consultations with third party experts such as engineers, and discussions with the Company’s General Counsel and outside counsel retained to handle specific product liability cases.
Mortgage Loans Held for Sale, Derivatives and Hedging Activities	Mortgage Loans Held for Sale, Derivatives and Hedging Activities NVR originates several different loan products to its customers to finance the purchase of a home through its wholly-owned mortgage subsidiary, NVR Mortgage Finance, Inc. (“NVRM”). NVRM sells all of the loans it originates into the secondary market on a servicing released basis, typically within 30 days from origination. All of the loans that NVRM originates are underwritten to the standards and specifications of the ultimate investor. Those underwriting standards are typically equal to or more stringent than the underwriting standards required by Fannie Mae (“FNMA”), Department of Veterans Affairs (“VA”) and the Federal Housing Administration (“FHA”). Insofar as NVRM underwrites its originated loans to those standards, NVRM bears no increased concentration of credit risk from the issuance of loans, except in certain limited instances where early payment default occurs. NVRM employs a quality control department to ensure that its underwriting controls are effectively operating, and further assesses the underwriting function as part of its assessment of internal controls over financial reporting. NVRM maintains an allowance for losses on mortgage loans originated that reflects NVR’s judgment of the present loss exposure in the loans that NVRM has originated and sold. The allowance is calculated based on an analysis of historical experience and exposure (see Note 15 herein for further information). Mortgage loans held for sale are carried at the lower of cost or fair value, net of deferred origination costs, until sold. In the normal course of business, NVRM enters into contractual commitments to extend credit to buyers of single-family homes with fixed expiration dates. The commitments become effective when the borrowers “lock-in” a specified interest rate within time frames established by NVRM. All mortgagors are evaluated for credit worthiness prior to the extension of the commitment. Market risk arises if interest rates move adversely between the time of the “lock-in” of rates by the borrower and the sale date of the loan to a broker/dealer. To mitigate the effect of the interest rate risk inherent in providing rate lock commitments to borrowers, NVRM enters into optional or mandatory delivery forward sale contracts to sell whole loans and mortgage-backed securities to broker/dealers. The forward sale contracts lock in an interest rate and price for the sale of loans similar to the specific rate lock commitments. NVRM does not engage in speculative or trading derivative activities. Both the rate lock commitments to borrowers and the forward sale contracts to broker/dealers are undesignated derivatives, and, accordingly, are marked to fair value through earnings. At December 31, 2015, there were contractual commitments to extend credit to borrowers aggregating $462,329, and open forward delivery sale contracts aggregating $737,052, which hedge both the rate lock commitments and closed loans held for sale (see Note 14 herein for a description of the Company’s fair value accounting).
Earnings Per Share	Earnings per Share The following weighted average shares and share equivalents were used to calculate basic and diluted earnings per share for the years ended December 31, 2015 2014 and 2013: Year Ended December 31, 2015 2014 2013 Weighted average number of shares outstanding used to calculate basic EPS 4,022 4,278 4,737 Dilutive securities: Stock options and restricted share units 233 157 125 Weighted average number of shares and share equivalents outstanding used to calculate diluted EPS 4,255 4,435 4,862 The assumed proceeds used in the treasury method for calculating NVR’s diluted earnings per share includes the amount the employee must pay upon exercise, the amount of compensation cost attributed to future services not yet recognized and the amount of tax benefits that would be credited or charged to additional paid-in-capital assuming exercise of the stock option or vesting of the restricted share unit. The assumed amount credited to additional paid-in-capital equals the tax benefit from assumed exercise of stock options or the assumed vesting of restricted share units after consideration of the intrinsic value upon assumed exercise or vesting less the actual stock-based compensation expense to be recognized in the income statement. The following stock options and restricted share units issued under equity incentive plans were outstanding during the years ended December 31, 2015, 2014 and 2013; however, they were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive. Year Ended December 31, 2015 2014 2013 Anti-dilutive securities 50 757 157
Revenues-Homebuilding Operations	Revenues – Homebuilding Operations NVR builds single-family detached homes, townhomes and condominium buildings, which generally are constructed on a pre-sold basis for the ultimate customer. Revenues are recognized at the time the unit is settled and title passes to the customer, adequate cash payment has been received and there is no continuing involvement. In situations where the buyer’s financing is originated by NVRM and the buyer has not made an adequate initial or continuing investment as prescribed by GAAP, the profit on such settlement is deferred until the sale of the related loan to a third-party investor has been completed.
Mortgage Banking Fees	Mortgage Banking Fees Mortgage banking fees include income earned by NVRM for originating mortgage loans, servicing mortgage loans held on an interim basis, title fees, gains and losses on the sale of mortgage loans and mortgage servicing and other activities incidental to mortgage banking. Mortgage banking fees are generally recognized after the loan has been sold to an unaffiliated, third party investor.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on the deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ASC 740-10, Income Taxes
Financial Instruments	Financial Instruments Except as otherwise noted herein, NVR believes that insignificant differences exist between the carrying value and the fair value of its financial instruments (see Note 14 herein for further information).
Equity-Based Compensation	Equity-Based Compensation The company accounts for its equity-based compensation in accordance with ASC 718, Compensation – Stock Compensation.
Comprehensive Income	Comprehensive Income For the years ended December 31, 2015, 2014 and 2013, comprehensive income equaled net income; therefore, a separate statement of comprehensive income is not included in the accompanying consolidated financial statements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers In August 2014, FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In February 2015, FASB issued ASU 2015-02, Consolidation (Topic 810) – Amendments to the Consolidation Analysis In April 2015, FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30) – Simplifying the Presentation of Debt Issuance Costs. In April 2015, FASB issued ASU 2015-05, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) In July 2015, FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Weighted Average Shares and Share Equivalents Used to Calculate Basic and Diluted Earnings Per Share	The following weighted average shares and share equivalents were used to calculate basic and diluted earnings per share for the years ended December 31, 2015 2014 and 2013: Year Ended December 31, 2015 2014 2013 Weighted average number of shares outstanding used to calculate basic EPS 4,022 4,278 4,737 Dilutive securities: Stock options and restricted share units 233 157 125 Weighted average number of shares and share equivalents outstanding used to calculate diluted EPS 4,255 4,435 4,862
Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following stock options and restricted share units issued under equity incentive plans were outstanding during the years ended December 31, 2015, 2014 and 2013; however, they were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive. Year Ended December 31, 2015 2014 2013 Anti-dilutive securities 50 757 157

Segment Information, Nature o25

Segment Information, Nature of Operations, and Certain Concentrations (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Revenues	Following are tables presenting segment revenues, profit before taxes, assets, interest income, interest expense, depreciation and amortization and expenditures for property and equipment, with reconciliations to the amounts reported for the consolidated enterprise, where applicable: Year Ended December 31, 2015 2014 2013 Revenues: Homebuilding Mid Atlantic $ 3,022,789 $ 2,617,108 $ 2,439,387 Homebuilding North East 432,145 376,862 332,681 Homebuilding Mid East 1,014,920 892,513 908,198 Homebuilding South East 595,346 488,576 454,215 Mortgage Banking 93,808 69,509 76,786 Consolidated revenues $ 5,159,008 $ 4,444,568 $ 4,211,267
Profit before Taxes	Year Ended December 31, 2015 2014 2013 Profit before taxes: Homebuilding Mid Atlantic $ 322,829 $ 271,965 $ 276,399 Homebuilding North East 37,914 33,390 14,294 Homebuilding Mid East 86,336 47,538 55,537 Homebuilding South East 57,384 37,525 35,001 Mortgage Banking 51,236 30,388 42,075 Total segment profit 555,699 420,806 423,306 Reconciling items: Contract land deposit reserve adjustment (1) 13,805 3,612 5,313 Equity-based compensation expense (2) (54,091 ) (63,227 ) (34,296 ) Corporate capital allocation (3) 171,170 152,140 116,458 Unallocated corporate overhead (83,124 ) (61,108 ) (72,703 ) Consolidation adjustments and other 22,622 23,867 2,361 Corporate interest expense (22,869 ) (22,544 ) (21,743 ) Reconciling items sub-total 47,513 32,740 (4,610 ) Consolidated profit before taxes $ 603,212 $ 453,546 $ 418,696 ( 1 ) This item represents changes to the contract land deposit impairment reserve, which are not allocated to the reportable segments. (2) The increase in equity-based compensation expense in 2014 is primarily attributable to the issuance of stock options under the NVR, Inc. 2014 Equity Incentive Plan (the “2014 Plan”) and restricted share units (“RSUs”) issued in the second quarter of 2013. Equity-based compensation expense was also lower in 2013 due to an approximate $7,900 pre-tax compensation expense reversal in 2013 attributable to an adjustment of the stock option forfeiture rates based on the Company’s actual forfeiture experience. ( 3 ) This item represents the elimination of the corporate capital allocation charge included in the respective homebuilding reportable segments. The corporate capital allocation charge is based on the segment’s monthly average asset balance, and was as follows for the years presented: Year Ended December 31, 2015 2014 2013 Corporate capital allocation charge: Homebuilding Mid Atlantic $ 107,705 $ 96,328 $ 72,272 Homebuilding North East 16,987 12,107 9,461 Homebuilding Mid East 27,263 26,299 22,580 Homebuilding South East 19,215 17,406 12,145 Total corporate capital allocation charge $ 171,170 $ 152,140 $ 116,458
Assets	As of December 31, 2015 2014 Assets: Homebuilding Mid Atlantic $ 994,804 $ 917,689 Homebuilding North East 133,106 103,631 Homebuilding Mid East 220,094 192,781 Homebuilding South East 175,572 144,939 Mortgage Banking 372,203 255,969 Total segment assets 1,895,779 1,615,009 Reconciling items: Consolidated variable interest entity 1,749 3,590 Cash and cash equivalents 397,522 514,780 Deferred taxes 161,805 165,189 Intangible assets and goodwill 52,909 54,291 Contract land deposit reserve (42,239 ) (56,074 ) Consolidation adjustments and other 47,606 54,550 Reconciling items sub-total 619,352 736,326 Consolidated assets $ 2,515,131 $ 2,351,335
Interest Income	Year Ended December 31, 2015 2014 2013 Interest income: Mortgage Banking $ 6,485 $ 4,940 $ 4,983 Total segment interest income 6,485 4,940 4,983 Other unallocated interest income 1,211 1,311 2,319 Consolidated interest income $ 7,696 $ 6,251 $ 7,302
Interest Expense	Year Ended December 31, 2015 2014 2013 Interest expense: Homebuilding Mid Atlantic $ 107,748 $ 96,364 $ 72,351 Homebuilding North East 16,991 12,114 9,466 Homebuilding Mid East 27,263 26,300 22,587 Homebuilding South East 19,217 17,409 12,151 Mortgage Banking 641 549 545 Total segment interest expense 171,860 152,736 117,100 Corporate capital allocation (171,170 ) (152,140 ) (116,458 ) Senior Notes and other interest 22,869 22,544 21,743 Consolidated interest expense $ 23,559 $ 23,140 $ 22,385
Depreciation and Amortization	Year Ended December 31, 2015 2014 2013 Depreciation and amortization: Homebuilding Mid Atlantic $ 7,876 $ 6,489 $ 4,784 Homebuilding North East 1,571 1,208 853 Homebuilding Mid East 4,003 3,212 1,911 Homebuilding South East 2,191 1,715 1,008 Mortgage Banking 1,136 1,089 669 Total segment depreciation and amortization 16,777 13,713 9,225 Unallocated corporate 4,757 3,901 4,166 Consolidated depreciation and amortization $ 21,534 $ 17,614 $ 13,391
Expenditures for Property and Equipment	Year Ended December 31, 2015 2014 2013 Expenditures for property and equipment: Homebuilding Mid Atlantic $ 8,287 $ 9,047 $ 7,947 Homebuilding North East 2,220 2,311 1,454 Homebuilding Mid East 3,774 6,982 3,282 Homebuilding South East 1,753 3,472 2,662 Mortgage Banking 265 2,580 2,933 Total segment expenditures for property and equipment 16,299 24,392 18,278 Unallocated corporate 1,978 7,280 738 Consolidated expenditures for property and equipment $ 18,277 $ 31,672 $ 19,016
Corporate Capital Allocation Charge	The corporate capital allocation charge is based on the segment’s monthly average asset balance, and was as follows for the years presented: Year Ended December 31, 2015 2014 2013 Corporate capital allocation charge: Homebuilding Mid Atlantic $ 107,705 $ 96,328 $ 72,272 Homebuilding North East 16,987 12,107 9,461 Homebuilding Mid East 27,263 26,299 22,580 Homebuilding South East 19,215 17,406 12,145 Total corporate capital allocation charge $ 171,170 $ 152,140 $ 116,458

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2015
Variable Interest Entity Reporting Entity Involvement Maximum Loss Exposure [Abstract]
Total Risk of Loss Related to Contract Land Deposits	NVR’s total risk of loss related to contract land deposits as of December 31, 2015 and 2014 was as follows: December 31, 2015 2014 Contract land deposits $ 385,534 $ 350,750 Loss reserve on contract land deposits (42,239 ) (56,074 ) Contract land deposits, net 343,295 294,676 Contingent obligations in the form of letters of credit 3,302 4,674 Contingent specific performance obligations (1) 1,505 1,505 Total risk of loss $ 348,102 $ 300,855 (1) As of both December 31, 2015 and 2014, the Company was committed to purchase 10 finished lots under specific performance obligations.

Joint Ventures (Tables)

Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2015
Consolidated Joint Venture
Schedule Of Equity Method Investments [Line Items]
Condensed Balance Sheets	The condensed balance sheets of the consolidated JV at December 31, 2015 and 2014 were as follows: December 31, 2015 2014 Assets: Cash $ 990 $ 481 Restricted cash — 160 Other assets 379 332 Land under development 380 2,617 Total assets $ 1,749 $ 3,590 Liabilities and equity: Debt $ — $ 64 Accrued expenses 567 1,231 Equity 1,182 2,295 Total liabilities and equity $ 1,749 $ 3,590

Capitalized Interest (Tables)

Capitalized Interest (Tables)	12 Months Ended
	Dec. 31, 2015
Interest Costs Incurred Capitalized [Abstract]
Summary of Interest Costs Incurred, Capitalized, Expensed and Charged to Cost of Sales	NVR’s interest costs incurred, capitalized, expensed and charged to cost of sales during the years ended December 31, 2015, 2014 and 2013 was as follows: December 31, 2015 2014 2013 Interest capitalized, beginning of year $ 4,072 $ 3,294 $ 893 Interest incurred 25,155 24,994 25,048 Interest charged to interest expense (23,559 ) (23,140 ) (22,385 ) Interest charged to cost of sales (1,234 ) (1,076 ) (262 ) Interest capitalized, end of year $ 4,434 $ 4,072 $ 3,294

Property, Plant and Equipment29

Property, Plant and Equipment, net (Tables)	12 Months Ended
	Dec. 31, 2015
Property Plant And Equipment [Abstract]
Summary of Property, Plant and Equipment, Net	December 31, 2015 2014 Homebuilding: Office facilities and other $ 31,696 $ 29,326 Model home furniture and fixtures 33,041 28,945 Production facilities 51,636 47,796 116,373 106,067 Less: accumulated depreciation (71,722 ) (59,825 ) $ 44,651 $ 46,242 Mortgage Banking: Office facilities and other $ 10,629 $ 10,508 Less: accumulated depreciation (5,316 ) (4,319 ) $ 5,313 $ 6,189

Common Stock (Tables)

Common Stock (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Share Repurchases of Common Stock	The Company made the following share repurchases during the years indicated: Year Ended December 31, 2015 2014 2013 Aggregate purchase price $ 431,367 $ 567,544 $ 554,491 Number of shares repurchased 290 508 581

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Provision for Income Taxes	The provision for income taxes consists of the following: Year Ended December 31, 2015 2014 2013 Current: Federal $ 180,895 $ 148,221 $ 137,675 State 36,142 28,881 30,352 Deferred: Federal 2,681 (4,451 ) (13,402 ) State 567 (735 ) (2,406 ) $ 220,285 $ 171,916 $ 152,219
Income Tax Benefits in Shareholders' Equity	In addition to amounts applicable to income before taxes, the following income tax benefits were recorded in shareholders’ equity: Year Ended December 31, 2015 2014 2013 Income tax benefits arising from compensation expense for tax purposes in excess of amounts recognized for financial statement purposes $ 23,311 $ 9,437 $ 20,636
Deferred Income Taxes on Consolidated Balance Sheets	Deferred income taxes on NVR’s consolidated balance sheets were comprised of the following: December 31, 2015 2014 Deferred tax assets: Other accrued expenses and contract land deposit reserve $ 77,781 $ 84,817 Deferred compensation 7,280 7,500 Equity-based compensation expense 45,361 46,257 Inventory 12,722 11,153 Unrecognized tax benefit 24,740 24,485 Other 9,391 5,847 Total deferred tax assets 177,275 180,059 Less: deferred tax liabilities 6,489 7,371 Net deferred tax position $ 170,786 $ 172,688
Income Tax Expense Reconciliation	A reconciliation of income tax expense in the accompanying consolidated statements of income to the amount computed by applying the statutory federal income tax rate of 35% to income before taxes is as follows: Year Ended December 31, 2015 2014 2013 Income taxes computed at the federal statutory rate $ 211,124 $ 158,741 $ 146,544 State income taxes, net of federal income tax benefit 23,919 18,800 18,210 Other, net (14,758 ) (5,625 ) (12,535 ) $ 220,285 $ 171,916 $ 152,219
Reconciliation of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Year Ended December 31, 2015 2014 Balance at beginning of year $ 46,004 $ 43,796 Additions based on tax positions related to the current year 3,897 6,008 Reductions for tax positions of prior years (3,310 ) (3,800 ) Settlements — — Balance at end of year $ 46,591 $ 46,004

Equity-Based Compensation, Pr32

Equity-Based Compensation, Profit Sharing and Deferred Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Equity-Based Compensation Plans with Grants Outstanding	The following table provides a summary of each of the Company’s equity-based compensation plans for any plan with grants outstanding at December 31, 2015: Equity-Based Compensation Plans Shares Authorized Options/RSUs Outstanding Shares Available to Issue 1998 Management Long-Term Stock Option Plan 1,000 6 — 1998 Directors' Long-Term Stock Option Plan 150 8 — 2000 Broadly-Based Stock Option Plan 2,000 126 — 2010 Equity Incentive Plan (1) 700 359 39 NVR, Inc. 2014 Equity Incentive Plan (2) 950 648 302 (1) During 2010, the Company’s shareholders approved the 2010 Equity Incentive Plan (the “2010 Plan”). The 2010 Plan authorizes the Company to issue Options and RSUs to key management employees, including executive officers and Board members. Of the 700 aggregate shares available to issue, up to 240 may be granted in the form of RSUs. There were 308 Options and 51 RSUs outstanding as of December 31, 2015. Of the 39 shares available to be issued under the 2010 Plan, 36 may be granted as RSUs. (2) During 2014, the Company’s shareholders approved the NVR, Inc. 2014 Equity Incentive Plan (the “2014 Plan”). The 2014 Plan authorizes the Company to issue Options to key management employees, including executive officers and Board members. Option grants under the 2014 Plan are generally divided such that vesting for 50% of the Option grant is solely contingent upon continued employment or continued service as a Director, while vesting for the remaining 50% of the Option grant is contingent upon both continued employment or service as a Director and the achievement of a performance metric. The performance metric is based on the Company’s return on capital performance during a specified three year period based on the date of Option grant, with the initial performance period being 2014 through 2016. Options granted under the 2014 Plan generally vest annually over four years in 25% increments beginning on December 31, 2016.
Equity-Based Compensation Plans	The following table provides additional information relative to NVR’s equity-based compensation plans for the year ended December 31, 2015: Shares Weighted Exercise Weighted Contract Aggregate Intrinsic Stock Options Outstanding at December 31, 2014 1,201 $ 947.39 Granted 48 1,417.22 Exercised (129 ) 663.96 Forfeited (24 ) 1,060.29 Outstanding at December 31, 2015 1,096 $ 998.88 7.4 $ 705,684 Exercisable at December 31, 2015 272 $ 721.35 4.8 $ 250,617 RSUs Outstanding at December 31, 2014 55 Granted — Vested (2 ) Forfeited (2 ) Outstanding at December 31, 2015 51 $ 83,340 Vested, but not issued at December 31, 2015 33 $ 53,710
Black-Scholes Option-Pricing Model Assumptions	The fair value of the Options granted during 2015, 2014 and 2013 was estimated on the grant date using the Pricing Model, based on the following assumptions: 2015 2014 2013 Estimated option life 5.17 years 5.16 years 5.20 years Risk free interest rate (range) 1.04%-2.07% 1.06%-2.49% 0.42%-2.10% Expected volatility (range) 17.00%-26.79% 18.26%-30.57% 17.98%-32.72% Expected dividend rate 0.00% 0.00% 0.00% Weighted average grant-date fair value per share of options granted $ 296.50 $ 267.66 $ 268.13
Exercised Option Proceeds	Information with respect to the vested RSUs and exercised Options is as follows: Year Ended December 31, 2015 2014 2013 Aggregate exercise proceeds (1) $ 85,948 $ 76,153 $ 14,834 Aggregate intrinsic value on exercise dates $ 99,288 $ 62,136 $ 84,908 (1) Aggregate exercise proceeds include the Option exercise price received in cash or the fair market value of NVR stock surrendered by the optionee in lieu of cash.

Commitments and Contingent Li33

Commitments and Contingent Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
Future Minimum Lease Payments under Operating Leases	Future minimum lease payments under these operating leases as of December 31, 2015 are as follows: Year Ending December 31, 2016 $ 24,032 2017 17,926 2018 13,945 2019 12,791 2020 8,291 Thereafter 22,414 99,399 Sublease income (48 ) $ 99,351
Summary of Changes in Product Warranties Reserve	The following table reflects the changes in the Company’s warranty reserve (see Note 1 herein for further discussion of warranty/product liability reserves): Year Ended December 31, 2015 2014 2013 Warranty reserve, beginning of year $ 94,060 $ 101,507 $ 62,742 Provision 47,003 51,668 82,860 Payments (53,656 ) (59,115 ) (44,095 ) Warranty reserve, end of year $ 87,407 $ 94,060 $ 101,507

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Undesignated Derivative Instruments	The undesignated derivative instruments are included on the accompanying consolidated balance sheet, as of December 31, 2015, as follows: Fair Value Balance Sheet Location Rate lock commitments: Gross assets $ 5,549 Gross liabilities 2,362 Net rate lock commitments $ 3,187 NVRM - Other assets Forward sales contracts: Gross assets $ 3,994 Gross liabilities 190 Net forward sales contracts $ 3,804 NVRM - Other assets
Fair Value Measurement	The fair value measurement as of December 31, 2015 was as follows: Notional or Principal Amount Assumed Gain/(Loss) From Loan Sale Interest Rate Movement Effect Servicing Rights Value Security Price Change Total Fair Value Measurement Gain/(Loss) Rate lock commitments $ 462,329 $ (1,108 ) $ (774 ) $ 5,069 $ — $ 3,187 Forward sales contracts $ 737,052 — — — 3,804 3,804 Mortgages held for sale $ 319,212 (954 ) (2,353 ) 3,648 — 341 Total fair value measurement $ (2,062 ) $ (3,127 ) $ 8,717 $ 3,804 $ 7,332

Quarterly Results (unaudited) (

Quarterly Results (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data and Operating Information	The following table sets forth unaudited selected financial data and operating information on a quarterly basis for the years ended December 31, 2015 and 2014. Year Ended December 31, 2015 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter Revenues – homebuilding operations $ 1,528,084 $ 1,374,467 $ 1,221,111 $ 941,538 Gross profit – homebuilding operations $ 289,496 $ 262,795 $ 234,257 $ 159,870 Mortgage banking fees $ 27,191 $ 27,884 $ 22,522 $ 16,211 Net income $ 134,004 $ 116,470 $ 93,395 $ 39,058 Diluted earnings per share $ 31.92 $ 27.11 $ 21.91 $ 9.22 Contracts for sale, net of cancellations (units) 3,100 3,258 3,796 3,926 Settlements (units) 4,010 3,607 3,175 2,534 Backlog, end of period (units) 6,229 7,139 7,488 6,867 Loans closed $ 1,042,440 $ 951,872 $ 859,403 $ 638,627 Year Ended December 31, 2014 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter Revenues – homebuilding operations $ 1,306,632 $ 1,185,160 $ 1,084,080 $ 799,187 Gross profit – homebuilding operations $ 236,031 $ 225,105 $ 201,302 $ 144,035 Mortgage banking fees $ 21,406 $ 18,006 $ 17,974 $ 12,123 Net income $ 99,451 $ 90,152 $ 68,178 $ 23,849 Diluted earnings per share $ 23.24 $ 20.70 $ 15.17 $ 5.16 Contracts for sale, net of cancellations (units) 2,713 2,936 3,415 3,325 Settlements (units) 3,469 3,236 2,943 2,211 Backlog, end of period (units) 5,475 6,231 6,531 6,059 Loans closed $ 881,930 $ 803,125 $ 675,625 $ 472,933

Summary of Significant Accoun36

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Significant Accounting Policies [Line Items]
Cash	$ 425,316,000	$ 545,419,000	$ 866,253,000	$ 1,153,507,000
Pre-tax recovery related to impairment of contract land deposits	11,058,000	225,000	$ 5,313,000
Contract land deposit assets impairment valuation allowances	$ 42,239,000	56,074,000
Model Home Furniture and Fixtures [Member]
Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	2 years
Office Facilities and Other [Member] | Minimum [Member]
Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Office Facilities and Other [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Manufacturing Facilities [Member] | Minimum [Member]
Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Manufacturing Facilities [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Homebuilding [Member]
Significant Accounting Policies [Line Items]
Cash	$ 397,522,000	514,780,000
Restricted cash	23,440,000	24,106,000
Impairment of goodwill	0
Homebuilding [Member] | Heartland Homes Inc [Member]
Significant Accounting Policies [Line Items]
Goodwill acquired from business acquisition	441,000	441,000
Finite-lived intangibles acquired from business acquisition, net of accumulated amortization	$ 3,541,000	4,923,000
Weighted average life of finite-lived intangible assets	4 years
Mortgage Banking [Member]
Significant Accounting Policies [Line Items]
Cash	$ 26,804,000	30,158,000
Restricted cash	$ 2,038,000	1,947,000
Mortgage Banking [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Significant Accounting Policies [Line Items]
Typical length of days loans sold into secondary market	30 days
Mortgage Banking [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Rate Lock Commitments [Member]
Significant Accounting Policies [Line Items]
Notional or Principal Amount	$ 462,329,000
Mortgage Banking [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Sales Contracts [Member]
Significant Accounting Policies [Line Items]
Notional or Principal Amount	737,052,000
Consolidated Joint Venture
Significant Accounting Policies [Line Items]
Cash	$ 990,000	481,000
Restricted cash		$ 160,000

Summary of Significant Accoun37

Summary of Significant Accounting Policies - Weighted Average Shares and Share Equivalents Used to Calculate Basic and Diluted Earnings Per Share (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Weighted average number of shares outstanding used to calculate basic EPS	4,022	4,278	4,737
Dilutive securities:
Stock options and restricted share units	233	157	125
Weighted average number of shares and share equivalents outstanding used to calculate diluted EPS	4,255	4,435	4,862

Summary of Significant Accoun38

Summary of Significant Accounting Policies - Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Anti-dilutive securities	50	757	157

Segment Information, Nature o39

Segment Information, Nature of Operations, and Certain Concentrations - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015MetropolitanAreaSegment
Segment Reporting Information [Line Items]
Number of metropolitan areas Ryan Homes product are sold | MetropolitanArea	28
Senior Notes due 2022 [Member]
Segment Reporting Information [Line Items]
Senior notes interest rate	3.95%
Senior notes maturity	Sep. 15, 2022
Homebuilding [Member]
Segment Reporting Information [Line Items]
Number of reportable segments	4
Mortgage Banking [Member]
Segment Reporting Information [Line Items]
Number of reportable segments	1
Geographic Concentration Risk | Homebuilding [Member] | District of Columbia [Member]
Segment Reporting Information [Line Items]
Revenue derived	31.00%
Geographic Concentration Risk | Homebuilding [Member] | Maryland, Baltimore [Member]
Segment Reporting Information [Line Items]
Revenue derived	13.00%

Segment Information, Nature o40

Segment Information, Nature of Operations, and Certain Concentrations - Revenues (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Revenue Reconciling Item [Line Items]
Consolidated revenues									$ 5,159,008	$ 4,444,568	$ 4,211,267
Homebuilding [Member]
Segment Reporting Revenue Reconciling Item [Line Items]
Revenues	$ 1,528,084	$ 1,374,467	$ 1,221,111	$ 941,538	$ 1,306,632	$ 1,185,160	$ 1,084,080	$ 799,187	5,065,200	4,375,059	4,134,481
Homebuilding [Member] | Mid Atlantic [Member]
Segment Reporting Revenue Reconciling Item [Line Items]
Revenues									3,022,789	2,617,108	2,439,387
Homebuilding [Member] | North East [Member]
Segment Reporting Revenue Reconciling Item [Line Items]
Revenues									432,145	376,862	332,681
Homebuilding [Member] | Mid East [Member]
Segment Reporting Revenue Reconciling Item [Line Items]
Revenues									1,014,920	892,513	908,198
Homebuilding [Member] | South East [Member]
Segment Reporting Revenue Reconciling Item [Line Items]
Revenues									595,346	488,576	454,215
Mortgage Banking [Member]
Segment Reporting Revenue Reconciling Item [Line Items]
Mortgage Banking	$ 27,191	$ 27,884	$ 22,522	$ 16,211	$ 21,406	$ 18,006	$ 17,974	$ 12,123	$ 93,808	$ 69,509	$ 76,786

Segment Information, Nature o41

Segment Information, Nature of Operations, and Certain Concentrations - Profit before Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Profit before taxes	$ 603,212	$ 453,546	$ 418,696
Equity-based compensation expense	(54,091)	(63,227)	(34,296)
Corporate interest expense	(23,559)	(23,140)	(22,385)
Homebuilding [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Profit before taxes	555,329	427,884	379,370
Corporate interest expense	(22,918)	(22,591)	(21,840)
Mortgage Banking [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Profit before taxes	47,883	25,662	39,326
Corporate interest expense	(641)	(549)	(545)
Operating Segments [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Profit before taxes	555,699	420,806	423,306
Corporate interest expense	(171,860)	(152,736)	(117,100)
Operating Segments [Member] | Homebuilding [Member] | Mid Atlantic [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Profit before taxes	322,829	271,965	276,399
Corporate interest expense	(107,748)	(96,364)	(72,351)
Operating Segments [Member] | Homebuilding [Member] | North East [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Profit before taxes	37,914	33,390	14,294
Corporate interest expense	(16,991)	(12,114)	(9,466)
Operating Segments [Member] | Homebuilding [Member] | Mid East [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Profit before taxes	86,336	47,538	55,537
Corporate interest expense	(27,263)	(26,300)	(22,587)
Operating Segments [Member] | Homebuilding [Member] | South East [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Profit before taxes	57,384	37,525	35,001
Corporate interest expense	(19,217)	(17,409)	(12,151)
Operating Segments [Member] | Mortgage Banking [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Profit before taxes	51,236	30,388	42,075
Corporate interest expense	(641)	(549)	(545)
Reconciling Items [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Profit before taxes	47,513	32,740	(4,610)
Contract land deposit reserve adjustment	13,805	3,612	5,313
Equity-based compensation expense	(54,091)	(63,227)	(34,296)
Corporate capital allocation	171,170	152,140	116,458
Unallocated corporate overhead	(83,124)	(61,108)	(72,703)
Consolidation adjustments and other	22,622	23,867	2,361
Corporate interest expense	(22,869)	(22,544)	(21,743)
Reconciling Items [Member] | Homebuilding [Member] | Mid Atlantic [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Corporate capital allocation	107,705	96,328	72,272
Reconciling Items [Member] | Homebuilding [Member] | North East [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Corporate capital allocation	16,987	12,107	9,461
Reconciling Items [Member] | Homebuilding [Member] | Mid East [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Corporate capital allocation	27,263	26,299	22,580
Reconciling Items [Member] | Homebuilding [Member] | South East [Member]
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Corporate capital allocation	$ 19,215	$ 17,406	$ 12,145

Segment Information, Nature o42

Segment Information, Nature of Operations, and Certain Concentrations - Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Asset Reconciling Item [Line Items]
Assets	$ 2,515,131	$ 2,351,335
Cash and cash equivalents	425,316	545,419	$ 866,253	$ 1,153,507
Contract land deposit reserve	(42,239)	(56,074)
Homebuilding [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Assets	2,135,581	2,088,019
Consolidated variable interest entity	1,749	3,590
Cash and cash equivalents	397,522	514,780
Deferred taxes	161,805	165,189
Intangible assets and goodwill	3,982	5,364
Mortgage Banking [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Assets	379,550	263,316
Cash and cash equivalents	26,804	30,158
Operating Segments [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Assets	1,895,779	1,615,009
Operating Segments [Member] | Homebuilding [Member] | Mid Atlantic [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Assets	994,804	917,689
Operating Segments [Member] | Homebuilding [Member] | North East [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Assets	133,106	103,631
Operating Segments [Member] | Homebuilding [Member] | Mid East [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Assets	220,094	192,781
Operating Segments [Member] | Homebuilding [Member] | South East [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Assets	175,572	144,939
Operating Segments [Member] | Mortgage Banking [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Assets	372,203	255,969
Reconciling Items [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Assets	619,352	736,326
Consolidated variable interest entity	1,749	3,590
Cash and cash equivalents	397,522	514,780
Deferred taxes	161,805	165,189
Intangible assets and goodwill	52,909	54,291
Contract land deposit reserve	(42,239)	(56,074)
Consolidation adjustments and other	$ 47,606	$ 54,550

Segment Information, Nature o43

Segment Information, Nature of Operations, and Certain Concentrations - Interest Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated interest income	$ 7,696	$ 6,251	$ 7,302
Mortgage Banking [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Interest income	6,485	4,940	4,983
Operating Segments [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Interest income	6,485	4,940	4,983
Consolidation adjustments and other [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Other unallocated interest income	$ 1,211	$ 1,311	$ 2,319

Segment Information, Nature o44

Segment Information, Nature of Operations, and Certain Concentrations - Interest Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated interest expense	$ 23,559	$ 23,140	$ 22,385
Homebuilding [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated interest expense	22,918	22,591	21,840
Mortgage Banking [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated interest expense	641	549	545
Operating Segments [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated interest expense	171,860	152,736	117,100
Operating Segments [Member] | Homebuilding [Member] | Mid Atlantic [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated interest expense	107,748	96,364	72,351
Operating Segments [Member] | Homebuilding [Member] | North East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated interest expense	16,991	12,114	9,466
Operating Segments [Member] | Homebuilding [Member] | Mid East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated interest expense	27,263	26,300	22,587
Operating Segments [Member] | Homebuilding [Member] | South East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated interest expense	19,217	17,409	12,151
Operating Segments [Member] | Mortgage Banking [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated interest expense	641	549	545
Reconciling Items [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated interest expense	22,869	22,544	21,743
Corporate capital allocation	(171,170)	(152,140)	(116,458)
Reconciling Items [Member] | Homebuilding [Member] | Mid Atlantic [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Corporate capital allocation	(107,705)	(96,328)	(72,272)
Reconciling Items [Member] | Homebuilding [Member] | North East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Corporate capital allocation	(16,987)	(12,107)	(9,461)
Reconciling Items [Member] | Homebuilding [Member] | Mid East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Corporate capital allocation	(27,263)	(26,299)	(22,580)
Reconciling Items [Member] | Homebuilding [Member] | South East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Corporate capital allocation	$ (19,215)	$ (17,406)	$ (12,145)

Segment Information, Nature o45

Segment Information, Nature of Operations, and Certain Concentrations - Depreciation and Amortization (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated depreciation and amortization	$ 21,534	$ 17,614	$ 13,391
Operating Segments [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated depreciation and amortization	16,777	13,713	9,225
Operating Segments [Member] | Homebuilding [Member] | Mid Atlantic [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated depreciation and amortization	7,876	6,489	4,784
Operating Segments [Member] | Homebuilding [Member] | North East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated depreciation and amortization	1,571	1,208	853
Operating Segments [Member] | Homebuilding [Member] | Mid East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated depreciation and amortization	4,003	3,212	1,911
Operating Segments [Member] | Homebuilding [Member] | South East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated depreciation and amortization	2,191	1,715	1,008
Operating Segments [Member] | Mortgage Banking [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated depreciation and amortization	1,136	1,089	669
Consolidation adjustments and other [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated depreciation and amortization	$ 4,757	$ 3,901	$ 4,166

Segment Information, Nature o46

Segment Information, Nature of Operations, and Certain Concentrations - Expenditures for Property and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated expenditures for property and equipment	$ 18,277	$ 31,672	$ 19,016
Operating Segments [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated expenditures for property and equipment	16,299	24,392	18,278
Operating Segments [Member] | Homebuilding [Member] | Mid Atlantic [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated expenditures for property and equipment	8,287	9,047	7,947
Operating Segments [Member] | Homebuilding [Member] | North East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated expenditures for property and equipment	2,220	2,311	1,454
Operating Segments [Member] | Homebuilding [Member] | Mid East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated expenditures for property and equipment	3,774	6,982	3,282
Operating Segments [Member] | Homebuilding [Member] | South East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated expenditures for property and equipment	1,753	3,472	2,662
Operating Segments [Member] | Mortgage Banking [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated expenditures for property and equipment	265	2,580	2,933
Consolidation adjustments and other [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Consolidated expenditures for property and equipment	$ 1,978	$ 7,280	$ 738

Segment Information, Nature o47

Segment Information, Nature of Operations, and Certain Concentrations - Profit before Taxes (Parenthetical) (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2013USD ($)
Segment Reporting [Abstract]
Pre-tax compensation expense reversal attributable to an adjustment of the option forfeiture rates	$ 7,900

Segment Information, Nature o48

Segment Information, Nature of Operations, and Certain Concentrations - Corporate Capital Allocation Charge (Detail) - Reconciling Items [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Other Significant Reconciling Item [Line Items]
Corporate capital allocation charge	$ 171,170	$ 152,140	$ 116,458
Homebuilding [Member] | Mid Atlantic [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Corporate capital allocation charge	107,705	96,328	72,272
Homebuilding [Member] | North East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Corporate capital allocation charge	16,987	12,107	9,461
Homebuilding [Member] | Mid East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Corporate capital allocation charge	27,263	26,299	22,580
Homebuilding [Member] | South East [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Corporate capital allocation charge	$ 19,215	$ 17,406	$ 12,145

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail) $ in Thousands	1 Months Ended
	Feb. 29, 2016USD ($)LotParcel	Dec. 31, 2015USD ($)Lot	Dec. 31, 2014USD ($)
Variable Interest Entity [Line Items]
Maximum range of deposits required under the purchase agreements		10.00%
Contract land deposits		$ 385,534	$ 350,750
Subsequent Event [Member]
Variable Interest Entity [Line Items]
Acquisition costs of raw parcel of land	$ 150,000
Number of lots expected to produce from raw land acquisition | Lot	1,000
Number of lots under contract with unrelated party | Lot	160
Variable Interest Entities [Member]
Variable Interest Entity [Line Items]
Maximum range of deposits required under the purchase agreements		10.00%
Lots controlled by NVR | Lot		68,800
Contract land deposits in cash		$ 373,300
Letters of credit related to lots		$ 3,000
Contract on Raw Ground with Landowners [Member]
Variable Interest Entity [Line Items]
Lots controlled by NVR | Lot		8,800
Contract land deposits		$ 12,200
Letters of credit related to land contract		350
Refundable deposits and letters of credit		8,700
Contract land deposits amount related to property acquired		$ 5,000
Contract on Raw Ground with Landowners [Member] | Subsequent Event [Member]
Variable Interest Entity [Line Items]
Number of raw parcels of land acquired | Parcel	1
Acquisition costs of raw parcel of land	$ 150,000
Number of lots expected to produce from raw land acquisition | Lot	1,000
Number of lots under contract with unrelated party | Lot	160

Variable Interest Entities - To

Variable Interest Entities - Total Risk of Loss Related to Contract Land Deposits (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Variable Interest Entity Reporting Entity Involvement Maximum Loss Exposure [Abstract]
Contract land deposits		$ 385,534	$ 350,750
Loss reserve on contract land deposits		(42,239)	(56,074)
Contract land deposits, net		343,295	294,676
Contingent obligations in the form of letters of credit		3,302	4,674
Contingent specific performance obligations	[1]	1,505	1,505
Total risk of loss		$ 348,102	$ 300,855
[1]	As of both December 31, 2015 and 2014, the Company was committed to purchase 10 finished lots under specific performance obligations.

Variable Interest Entities - 51

Variable Interest Entities - Total Risk of Loss Related to Contract Land Deposits (Parenthetical) (Detail) - Lot	Dec. 31, 2015	Dec. 31, 2014
Variable Interest Entity Reporting Entity Involvement Maximum Loss Exposure [Abstract]
Finished lots committed to purchase under specific performance obligations	10	10

Joint Ventures - Additional Inf

Joint Ventures - Additional Information (Detail) $ in Thousands	Dec. 31, 2015USD ($)LotJointVenture	Dec. 31, 2014USD ($)LotJointVenture
Joint Ventures [Line Items]
Aggregate investment | $	$ 60,500	$ 82,000
Number of joint ventures | JointVenture	6	5
Expected production of finished lots | Lot	8,000	8,800
Total lots not under contract with NVR under the joint venture | Lot	3,300	3,300
Additional funding commitments in the aggregate | $	$ 11,500	$ 11,850
Number of joint ventures with additional funding commitment | JointVenture	3	2
Number of joint ventures NVR is not primary beneficiary | JointVenture	5
Other Assets [Member]
Joint Ventures [Line Items]
Aggregate investment | $	$ 59,800	$ 80,100

Joint Ventures - Condensed Bala

Joint Ventures - Condensed Balance Sheets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Assets:
Cash	$ 425,316	$ 545,419	$ 866,253	$ 1,153,507
Land under development	60,611	33,689
Liabilities and equity:
Equity	1,239,165	1,124,255	$ 1,261,352	$ 1,480,477
Total liabilities and shareholders' equity	2,515,131	2,351,335
Consolidated Joint Venture
Assets:
Cash	990	481
Restricted cash		160
Other assets	379	332
Land under development	380	2,617
Total assets	1,749	3,590
Liabilities and equity:
Debt		64
Accrued expenses	567	1,231
Equity	1,182	2,295
Total liabilities and shareholders' equity	$ 1,749	$ 3,590

Land Under Development - Additi

Land Under Development - Additional Information (Detail) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 29, 2016USD ($)Lot	Dec. 31, 2015USD ($)LotParcel	Dec. 31, 2014USD ($)LotParcel
Real Estate Properties [Line Items]
Number of raw parcels of land owned | Parcel		4	4
Carrying value of raw parcels of land		$ 60,611	$ 33,689
Number of finished lots for use in homebuilding operations | Lot		980	480
Aggregate additional funding commitments related to raw land property development		$ 19,200
Expected development credit offset amount		9,600
Letters of credit related to land under development		$ 2,200
Subsequent Event [Member]
Real Estate Properties [Line Items]
Acquisition costs of raw parcel of land	$ 150,000
Number of lots expected to produce from raw land acquisition | Lot	1,000
Number of lots under contract with unrelated party | Lot	160

Capitalized Interest - Summary

Capitalized Interest - Summary of Interest Costs Incurred, Capitalized, Expensed and Charged to Cost of Sales (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest Costs Incurred Capitalized [Abstract]
Interest capitalized, beginning of year	$ 4,072	$ 3,294	$ 893
Interest incurred	25,155	24,994	25,048
Interest expense	(23,559)	(23,140)	(22,385)
Interest charged to cost of sales	(1,234)	(1,076)	(262)
Interest capitalized, end of year	$ 4,434	$ 4,072	$ 3,294

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - Elm Street [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Lot	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Related Party Transaction [Line Items]
Related party forward lot purchase agreement purchase price	$ 68,000
Number of related parties for forward lot purchase agreement | Lot	1
Market price of developed lots	$ 41,200	$ 50,100	$ 38,400
Expected number of lots from joint venture with Elm Street | Lot	2,400
Development costs to manage property under related party transactions	$ 143	$ 143	$ 143

Property Plant and Equipment Ne

Property Plant and Equipment Net - Summary of Property Plant and Equipment Net Table (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Homebuilding [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 116,373	$ 106,067
Less: accumulated depreciation	(71,722)	(59,825)
Property, Plant and Equipment, Net	44,651	46,242
Homebuilding [Member] | Office Facilities and Other [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	31,696	29,326
Homebuilding [Member] | Model Home Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	33,041	28,945
Homebuilding [Member] | Production Facilities [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	51,636	47,796
Mortgage Banking [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Net	5,313	6,189
Mortgage Banking [Member] | Office Facilities and Other [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	10,629	10,508
Less: accumulated depreciation	(5,316)	(4,319)
Property, Plant and Equipment, Net	$ 5,313	$ 6,189

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Jan. 18, 2016	Dec. 31, 2015	Dec. 31, 2014
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Repurchase agreement maximum loan borrowing capacity		$ 25,000,000
Expiration date of repurchase agreement		Jul. 27, 2016
Repurchase facility maximum pricing rate		2.70%
Debt outstanding under repurchase agreement		$ 0	$ 0
Borrowing base		$ 0
Revolving Credit Facility [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Repurchase agreement maximum loan borrowing capacity	$ 150,000,000
Increase in commitment available under repurchase agreement	$ 50,000,000
Senior Notes due 2022 [Member]
Debt Instrument [Line Items]
Debt issuance date		Sep. 10, 2012
Senior notes principal amount		$ 600,000,000
Senior notes maturity		Sep. 15, 2022
Senior notes effective interest rate		3.97%
Senior notes proceeds		$ 593,900,000
Senior notes interest rate		3.95%
Frequency of senior notes payment		semi-annually in arrears on March 15 and September 15

Common Stock - Additional Infor

Common Stock - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended			192 Months Ended	264 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2015
Statement Of Stockholders Equity [Abstract]
Common shares outstanding	3,891	4,049		3,891	3,891
Treasury stock repurchases, shares	290	508	581		24,100
Treasury stock repurchases, value	$ 431,367	$ 567,544	$ 554,491		$ 6,307,000
Reissued shares during the period, shares	131	123	102	7,418

Common Stock - Share Repurchase

Common Stock - Share Repurchase of Common Stock (Detail) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended			264 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015
Statement Of Stockholders Equity [Abstract]
Aggregate purchase price	$ 431,367	$ 567,544	$ 554,491	$ 6,307,000
Number of shares repurchased	290	508	581	24,100

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
Federal	$ 180,895	$ 148,221	$ 137,675
State	36,142	28,881	30,352
Deferred:
Federal	2,681	(4,451)	(13,402)
State	567	(735)	(2,406)
Total	$ 220,285	$ 171,916	$ 152,219

Income Taxes - Income Tax Benef

Income Taxes - Income Tax Benefits in Shareholders' Equity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Income tax benefits arising from compensation expense for tax purposes in excess of amounts recognized for financial statement purposes	$ 23,311	$ 9,437	$ 20,636

Income Taxes - Deferred Income

Income Taxes - Deferred Income Taxes on Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Other accrued expenses and contract land deposit reserve	$ 77,781	$ 84,817
Deferred compensation	7,280	7,500
Equity-based compensation expense	45,361	46,257
Inventory	12,722	11,153
Unrecognized tax benefit	24,740	24,485
Other	9,391	5,847
Total deferred tax assets	177,275	180,059
Less: deferred tax liabilities	6,489	7,371
Net deferred tax position	$ 170,786	$ 172,688

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Estimated federal taxable income	$ 472,728	$ 391,781
Statutory federal income tax rate	35.00%
Effective tax rate	36.52%	37.90%	36.36%
Income tax expense due to reversal of previously recognized tax deductions		$ 7,000
Unrecognized tax benefits that would affect effective tax rate	$ 30,284
Accrued interest on unrecognized tax benefits	125		$ 625
Reversal of accrued interest on unrecognized tax benefits		184
Total accrued interest on unrecognized tax benefits	21,221	$ 21,096
Reduction in unrecognized tax benefits	$ 10,210

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense Reconciliation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Income taxes computed at the federal statutory rate	$ 211,124	$ 158,741	$ 146,544
State income taxes, net of federal income tax benefit	23,919	18,800	18,210
Other, net	(14,758)	(5,625)	(12,535)
Total	$ 220,285	$ 171,916	$ 152,219

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Balance at beginning of year	$ 46,004	$ 43,796
Additions based on tax positions related to the current year	3,897	6,008
Reductions for tax positions of prior years	(3,310)	(3,800)
Settlements	0	0
Balance at end of year	$ 46,591	$ 46,004

Equity-Based Compensation, Pr67

Equity-Based Compensation, Profit Sharing and Deferred Compensation Plans - Additional Information (Detail) $ / shares in Units, $ in Thousands	12 Months Ended			192 Months Ended
	Dec. 31, 2015USD ($)CompensationPlan$ / sharesshares	Dec. 31, 2014USD ($)shares	Dec. 31, 2013USD ($)shares	Dec. 31, 2015USD ($)shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity-based compensation expense | $	$ 54,091	$ 63,227	$ 34,296
Tax benefit related to equity-based compensation costs | $	19,700	$ 22,900	12,100
Forfeiture estimate adjustment | $			7,900
Forfeiture estimate adjustment charged from homebuilding general and administrative expense | $			7,100
Forfeiture estimate adjustment charged from homebuilding cost of sales expense | $			300
Forfeiture estimate adjustment charged from NVRM general and administrative expense | $			$ 500
Total unrecognized compensation cost for all outstanding Options and RSUs | $	$ 152,000			$ 152,000
Weighted-average period over which the unrecognized compensation will be recorded	2 years 4 months 24 days
Reissued shares during the period, shares	131,000	123,000	102,000	7,418,000
Combined plan contribution | $	$ 17,900	$ 16,980	$ 12,012
Shares contributed to the Employee Stock Ownership Plan	11,000	14,000
Number of deferred compensation plans | CompensationPlan	2
Common stock shares held in rabbi trust account	108,614	108,614		108,614
Shares of common stock contributed to rabbi trust account	0	0
RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price | $ / shares	$ 0
RSUs [Member] | Two Thousand Ten Equity Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted share units grants during period	0
Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of years for options granted	10 years
Options [Member] | 2014 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted share units vesting period or Option vesting period	4 years
Options issued under the plan	38,000
Options vesting rights	over four years in 25% increments beginning on December 31, 2016
Percentage of options vesting rights	25.00%
Options [Member] | Two Thousand Ten Equity Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted share units vesting period or Option vesting period	4 years
Options issued under the plan	10,000
Options vesting rights	over four years in 25% increments beginning on December 31, 2017
Percentage of options vesting rights	25.00%
Options [Member] | Option Grant Contingent upon Continued Employment or Service as a Director and Achievement of Performance Metric | 2014 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of options vesting rights	50.00%
Options granted	24,000
Options [Member] | Option Grant Solely Contingent upon Continued Employment or Continued Service as a Director | 2014 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of options vesting rights	50.00%
Options granted	14,000
Options [Member] | Options Granted in 2015 [Member] | 2014 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options vesting rights	Over four years in 25% increments beginning on December 31, 2017
Minimum [Member] | RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted share units vesting period or Option vesting period	2 years
Minimum [Member] | Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted share units vesting period or Option vesting period	3 years
Maximum [Member] | RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted share units vesting period or Option vesting period	4 years
Maximum [Member] | Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted share units vesting period or Option vesting period	6 years

Equity-Based Compensation, Pr68

Equity-Based Compensation, Profit Sharing and Deferred Compensation Plans - Summary of Equity-Based Compensation Plans with Grants Outstanding (Detail)	Dec. 31, 2015shares
1998 Management Long-Term Stock Option Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Authorized	1,000,000
Options/RSUs Outstanding	6,000
1998 Directors' Long-Term Stock Option Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Authorized	150,000
Options/RSUs Outstanding	8,000
2000 Broadly-Based Stock Option Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Authorized	2,000,000
Options/RSUs Outstanding	126,000
2010 Equity Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Authorized	700,000	[1]
Options/RSUs Outstanding	359,000	[1]
Shares Available to Issue	39,000	[1]
NVR, Inc. 2014 Equity Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Authorized	950,000	[2]
Options/RSUs Outstanding	648,000	[2]
Shares Available to Issue	302,000	[2]
[1]	During 2010, the Company’s shareholders approved the 2010 Equity Incentive Plan (the “2010 Plan”). The 2010 Plan authorizes the Company to issue Options and RSUs to key management employees, including executive officers and Board members. Of the 700 aggregate shares available to issue, up to 240 may be granted in the form of RSUs. There were 308 Options and 51 RSUs outstanding as of December 31, 2015. Of the 39 shares available to be issued under the 2010 Plan, 36 may be granted as RSUs.
[2]	During 2014, the Company’s shareholders approved the NVR, Inc. 2014 Equity Incentive Plan (the “2014 Plan”). The 2014 Plan authorizes the Company to issue Options to key management employees, including executive officers and Board members. Option grants under the 2014 Plan are generally divided such that vesting for 50% of the Option grant is solely contingent upon continued employment or continued service as a Director, while vesting for the remaining 50% of the Option grant is contingent upon both continued employment or service as a Director and the achievement of a performance metric. The performance metric is based on the Company’s return on capital performance during a specified three year period based on the date of Option grant, with the initial performance period being 2014 through 2016. Options granted under the 2014 Plan generally vest annually over four years in 25% increments beginning on December 31, 2016.

Equity-Based Compensation, Pr69

Equity-Based Compensation, Profit Sharing and Deferred Compensation Plans - Summary of Equity-Based Compensation Plans with Grants Outstanding (Parenthetical) (Detail) - shares		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options outstanding		1,096,000	1,201,000
Two Thousand Ten Equity Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Authorized	[1]	700,000
Shares Available to Issue	[1]	39,000
Two Thousand Ten Equity Plan | RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Authorized		240,000
Restricted share units outstanding		51,000	55,000
Shares Available to Issue		36,000
Two Thousand Ten Equity Plan | Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options outstanding		308,000
Shares Available to Issue		39,000
Restricted share units vesting period or Option vesting period		4 years
Options vesting rights		over four years in 25% increments beginning on December 31, 2017
2014 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Authorized	[2]	950,000
Shares Available to Issue	[2]	302,000
2014 Plan [Member] | Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of options vesting rights		25.00%
Performance metric period		3 years
Restricted share units vesting period or Option vesting period		4 years
Options vesting rights		over four years in 25% increments beginning on December 31, 2016
2014 Plan [Member] | Options [Member] | Option Grant Solely Contingent upon Continued Employment or Continued Service as a Director
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of options vesting rights		50.00%
2014 Plan [Member] | Options [Member] | Option Grant Contingent upon Continued Employment or Service as a Director and Achievement of Performance Metric
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of options vesting rights		50.00%
[1]	During 2010, the Company’s shareholders approved the 2010 Equity Incentive Plan (the “2010 Plan”). The 2010 Plan authorizes the Company to issue Options and RSUs to key management employees, including executive officers and Board members. Of the 700 aggregate shares available to issue, up to 240 may be granted in the form of RSUs. There were 308 Options and 51 RSUs outstanding as of December 31, 2015. Of the 39 shares available to be issued under the 2010 Plan, 36 may be granted as RSUs.
[2]	During 2014, the Company’s shareholders approved the NVR, Inc. 2014 Equity Incentive Plan (the “2014 Plan”). The 2014 Plan authorizes the Company to issue Options to key management employees, including executive officers and Board members. Option grants under the 2014 Plan are generally divided such that vesting for 50% of the Option grant is solely contingent upon continued employment or continued service as a Director, while vesting for the remaining 50% of the Option grant is contingent upon both continued employment or service as a Director and the achievement of a performance metric. The performance metric is based on the Company’s return on capital performance during a specified three year period based on the date of Option grant, with the initial performance period being 2014 through 2016. Options granted under the 2014 Plan generally vest annually over four years in 25% increments beginning on December 31, 2016.

Equity-Based Compensation, Pr70

Equity-Based Compensation, Profit Sharing and Deferred Compensation Plans - Equity-Based Compensation Plans (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding at beginning of period (Shares)	1,201,000
Granted (Shares)	48,000
Exercised (Shares)	(129,000)
Forfeited (Shares)	(24,000)
Outstanding at end of period (Shares)	1,096,000
Exercisable at end of period (Shares)	272,000
Outstanding at beginning of period (Weighted Average Exercise Price) | $ / shares	$ 947.39
Granted (Weighted Average Exercise Price) | $ / shares	1,417.22
Exercised (Weighted Average Exercise Price) | $ / shares	663.96
Forfeited (Weighted Average Exercise Price) | $ / shares	1,060.29
Outstanding at end of period (Weighted Average Exercise Price) | $ / shares	998.88
Exercisable at end of period (Weighted Average Exercise Price) | $ / shares	$ 721.35
Outstanding at end of period (Weighted Average Remaining Contract Life (Years)	7 years 4 months 24 days
Exercisable at end of period (Weighted Average Remaining Contract Life (Years)	4 years 9 months 18 days
Outstanding at end of period (Aggregate Intrinsic Value) | $	$ 705,684
Exercisable at end of period (Aggregate Intrinsic Value) | $	$ 250,617
Two Thousand Ten Equity Plan | Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding at end of period (Shares)	308,000
Two Thousand Ten Equity Plan | RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding at beginning of period (Shares)	55,000
Granted (Shares)	0
Vested (Shares)	(2,000)
Forfeited (Shares)	(2,000)
Outstanding at end of period (Shares)	51,000
Vested, but not issued at end of period (Shares)	33,000
Outstanding at end of period (Aggregate Intrinsic Value) | $	$ 83,340
Vested, but not issued at end of period (Aggregate Intrinsic Value) | $	$ 53,710

Equity-Based Compensation, Pr71

Equity-Based Compensation, Profit Sharing and Deferred Compensation Plans - Black-Scholes Option-Pricing Model Assumptions (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Estimated option life	5 years 2 months 1 day	5 years 1 month 28 days	5 years 2 months 12 days
Risk free interest rate (range), minimum	1.04%	1.06%	0.42%
Risk free interest rate (range), maximum	2.07%	2.49%	2.10%
Expected volatility (range), minimum	17.00%	18.26%	17.98%
Expected volatility (range), maximum	26.79%	30.57%	32.72%
Expected dividend rate	0.00%	0.00%	0.00%
Weighted average grant-date fair value per share of options granted	$ 296.50	$ 267.66	$ 268.13

Equity-Based Compensation, Pr72

Equity-Based Compensation, Profit Sharing and Deferred Compensation Plans - Exercised Option Proceeds (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Aggregate exercise proceeds	[1]	$ 85,948	$ 76,153	$ 14,834
Aggregate intrinsic value on exercise dates		$ 99,288	$ 62,136	$ 84,908
[1]	Aggregate exercise proceeds include the Option exercise price received in cash or the fair market value of NVR stock surrendered by the optionee in lieu of cash.

Commitments and Contingent Li73

Commitments and Contingent Liabilities - Future Minimum Lease Payments under Operating Leases (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Commitments And Contingencies Disclosure [Abstract]
2,016	$ 24,032
2,017	17,926
2,018	13,945
2,019	12,791
2,020	8,291
Thereafter	22,414
Subtotal	99,399
Sublease income	(48)
Total minimum lease payments	$ 99,351

Commitments and Contingent Li74

Commitments and Contingent Liabilities - Additional Information (Detail) $ in Thousands		12 Months Ended
		Dec. 31, 2015USD ($)LotContract	Dec. 31, 2014USD ($)Lot	Dec. 31, 2013USD ($)
Commitments And Contingencies Disclosure [Abstract]
Rent expense under operating leases		$ 48,056	$ 45,508	$ 39,608
Maximum range of deposits required under the purchase agreements		10.00%
Term of business plan		5 years
Contingent forfeitable deposits with land developers		$ 94,200
Number of specific performance contracts | Contract		1
Finished lots committed to purchase under specific performance obligations | Lot		10	10
Purchase price of finished lots committed to purchase under specific performance obligations	[1]	$ 1,505	$ 1,505
Aggregate additional funding commitments related to raw land property development		19,200
Expected development credit offset amount		9,600
Contingent obligations under bonds or letters of credit arrangements		58,300
Contingent obligations under letters of credit arrangements		$ 11,900
Warranty reserve provision including accrual charges				31,600
Warranty accrual related to a single completed community				15,600
Warranty accrual for a non-recurring service issue				$ 16,000
[1]	As of both December 31, 2015 and 2014, the Company was committed to purchase 10 finished lots under specific performance obligations.

Commitments and Contingent Li75

Commitments and Contingent Liabilities - Summary of Changes in Product Warranty/Liability Reserve (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Product Warranties Disclosures [Abstract]
Warranty reserve, beginning of year	$ 94,060	$ 101,507	$ 62,742
Provision	47,003	51,668	82,860
Payments	(53,656)	(59,115)	(44,095)
Warranty reserve, end of year	$ 87,407	$ 94,060	$ 101,507

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Fair Value Measurement Gain/(Loss)	$ 7,332
Homebuilding [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes carrying value	599,260	$ 599,166
Homebuilding [Member] | Senior Notes due 2022 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes carrying value	599,260
Homebuilding [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Senior Notes due 2022 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes fair value	606,000
Mortgage Banking [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of mortgage loans held for sale	319,553	205,664
Mortgage Banking [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value adjustment income (expense)	3,508	$ 3,305	$ 3,021
Mortgage Banking [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Rate Lock Commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount of contractual commitments	$ 462,329
Average basis points of loan amount	1.20%
Fallout rate of measuring fair value of rate lock commitments	12.00%
Total Fair Value Measurement Gain/(Loss)	$ 3,187
Mortgage Banking [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Sales Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount of contractual commitments	737,052
Total Fair Value Measurement Gain/(Loss)	3,804
Mortgage Banking [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgages Held for Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount of contractual commitments	319,212
Fair value of mortgage loans held for sale	319,553
Total Fair Value Measurement Gain/(Loss)	$ 341

Fair Value - Undesignated Deriv

Fair Value - Undesignated Derivative Instruments (Detail) - Mortgage Banking [Member] - Level 2 [Member] - Fair Value, Measurements, Recurring [Member] $ in Thousands	Dec. 31, 2015USD ($)
Rate Lock Commitments [Member]
Derivatives Fair Value [Line Items]
Gross assets	$ 5,549
Gross liabilities	2,362
Fair value of derivatives, assets	3,187
Forward Sales Contracts [Member]
Derivatives Fair Value [Line Items]
Gross assets	3,994
Gross liabilities	190
Fair value of derivatives, assets	$ 3,804

Fair Value - Fair Value Measure

Fair Value - Fair Value Measurement (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assumed Gain/(Loss) From Loan Sale	$ (2,062)
Interest Rate Movement Effect	(3,127)
Servicing Rights Value	8,717
Security Price Change	3,804
Total Fair Value Measurement Gain/(Loss)	7,332
Mortgage Banking [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Rate Lock Commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional or Principal Amount	462,329
Assumed Gain/(Loss) From Loan Sale	(1,108)
Interest Rate Movement Effect	(774)
Servicing Rights Value	5,069
Total Fair Value Measurement Gain/(Loss)	3,187
Mortgage Banking [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Forward Sales Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional or Principal Amount	737,052
Security Price Change	3,804
Total Fair Value Measurement Gain/(Loss)	3,804
Mortgage Banking [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Mortgages Held for Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional or Principal Amount	319,212
Assumed Gain/(Loss) From Loan Sale	(954)
Interest Rate Movement Effect	(2,353)
Servicing Rights Value	3,648
Total Fair Value Measurement Gain/(Loss)	$ 341

Mortgage Loan Losses Allowance

Mortgage Loan Losses Allowance - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Mortgage Loan Loss Allowance [Abstract]
Pre-tax charges for loan losses related to mortgage loans sold	$ 2,700	$ 2,400	$ 2,300
Mortgage loan loss allowance	$ 12,300	$ 10,000

Quarterly Results (unaudited) -

Quarterly Results (unaudited) - Quarterly Financial Data and Operating Information (Detail) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015USD ($)ContractSettlementsBacklog$ / shares	Sep. 30, 2015USD ($)ContractSettlementsBacklog$ / shares	Jun. 30, 2015USD ($)ContractSettlementsBacklog$ / shares	Mar. 31, 2015USD ($)ContractSettlementsBacklog$ / shares	Dec. 31, 2014USD ($)ContractSettlementsBacklog$ / shares	Sep. 30, 2014USD ($)ContractSettlementsBacklog$ / shares	Jun. 30, 2014USD ($)ContractSettlementsBacklog$ / shares	Mar. 31, 2014USD ($)ContractSettlementsBacklog$ / shares	Dec. 31, 2015USD ($)$ / shares	Dec. 31, 2014USD ($)$ / shares	Dec. 31, 2013USD ($)$ / shares
Quarterly Financial Information [Line Items]
Net income	$ 134,004	$ 116,470	$ 93,395	$ 39,058	$ 99,451	$ 90,152	$ 68,178	$ 23,849	$ 382,927	$ 281,630	$ 266,477
Diluted earnings per share | $ / shares	$ 31.92	$ 27.11	$ 21.91	$ 9.22	$ 23.24	$ 20.70	$ 15.17	$ 5.16	$ 89.99	$ 63.50	$ 54.81
Contracts for sale, net of cancellations (units) | Contract	3,100	3,258	3,796	3,926	2,713	2,936	3,415	3,325
Settlements (units) | Settlements	4,010	3,607	3,175	2,534	3,469	3,236	2,943	2,211
Backlog, end of period (units) | Backlog	6,229	7,139	7,488	6,867	5,475	6,231	6,531	6,059
Loans closed	$ 1,042,440	$ 951,872	$ 859,403	$ 638,627	$ 881,930	$ 803,125	$ 675,625	$ 472,933
Homebuilding [Member]
Quarterly Financial Information [Line Items]
Revenues – homebuilding operations	1,528,084	1,374,467	1,221,111	941,538	1,306,632	1,185,160	1,084,080	799,187	$ 5,065,200	$ 4,375,059	$ 4,134,481
Gross profit – homebuilding operations	289,496	262,795	234,257	159,870	236,031	225,105	201,302	144,035
Mortgage Banking [Member]
Quarterly Financial Information [Line Items]
Mortgage banking fees	$ 27,191	$ 27,884	$ 22,522	$ 16,211	$ 21,406	$ 18,006	$ 17,974	$ 12,123	$ 93,808	$ 69,509	$ 76,786