10-Q Filing

NVR INC CIK: 906163 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-291128`
Period End Date	20140630
Filing Date	20140801
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	nvr-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 32 Cash Flow Statement 66

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.56M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.56M	shares	Point-in-time
Deferred compensation trust, shares	`CommonStockSharesHeldInEmployeeTrustShares`	109,256.00	shares	Point-in-time
Deferred compensation trust, shares	`CommonStockSharesHeldInEmployeeTrustShares`	109,256.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	16.34M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	16.12M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$553.71M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$778.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.15B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$866.25M	USD	Point-in-time
Mortgage loans held for sale, net	`LoansHeldForSaleMortgages`	$170.47M	USD	Point-in-time
Land under development	`InventoryRealEstateLandAndLandDevelopmentCosts`	$63.79M	USD	Point-in-time
Assets related to consolidated variable interest entity	`VariableInterestEntityConsolidatedCarryingAmountAssets`	$6.80M	USD	Point-in-time
Assets related to consolidated variable interest entity	`VariableInterestEntityConsolidatedCarryingAmountAssets`	$7.27M	USD	Point-in-time
Contract land deposits, net	`DepositsAssets`	$253.81M	USD	Point-in-time
Contract land deposits, net	`DepositsAssets`	$236.88M	USD	Point-in-time
Total assets	`Assets`	$2.38B	USD	Point-in-time
Total assets	`Assets`	$2.49B	USD	Point-in-time
Non-recourse debt related to consolidated variable interest entity	`NonRecourseDebt`	$3.37M	USD	Point-in-time
Non-recourse debt related to consolidated variable interest entity	`NonRecourseDebt`	$1.26M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.22B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.28B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.01 par value; 60,000,000 shares authorized; 20,555,330 shares issued as of both June 30, 2014 and December 31, 2013	`CommonStockValue`	$206.00K	USD	Point-in-time
Common stock, $0.01 par value; 60,000,000 shares authorized; 20,555,330 shares issued as of both June 30, 2014 and December 31, 2013	`CommonStockValue`	$206.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$1.21B	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$1.28B	USD	Point-in-time
Deferred compensation trust - 109,256 shares of NVR, Inc. common stock as of both June 30, 2014 and December 31, 2013	`CommonStockSharesHeldInEmployeeTrust`	$17.74M	USD	Point-in-time
Deferred compensation trust - 109,256 shares of NVR, Inc. common stock as of both June 30, 2014 and December 31, 2013	`CommonStockSharesHeldInEmployeeTrust`	$17.74M	USD	Point-in-time
Deferred compensation liability	`DeferredCompensationLiabilityCurrentAndNoncurrent`	$17.74M	USD	Point-in-time
Deferred compensation liability	`DeferredCompensationLiabilityCurrentAndNoncurrent`	$17.74M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.70B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.61B	USD	Point-in-time
Less treasury stock at cost - 16,342,156 and 16,121,605 shares at June 30, 2014 and December 31, 2013, respectively	`TreasuryStockValue`	$4.56B	USD	Point-in-time
Less treasury stock at cost - 16,342,156 and 16,121,605 shares at June 30, 2014 and December 31, 2013, respectively	`TreasuryStockValue`	$4.88B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.26B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.10B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$2.38B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$2.49B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Interest expense	`InterestExpense`	$10.94M	USD	2 Qtrs
Interest expense	`InterestExpense`	$5.37M	USD	1 Quarter
Interest expense	`InterestExpense`	$11.52M	USD	2 Qtrs
Interest expense	`InterestExpense`	$5.72M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$158.53M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$135.29M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$108.82M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$80.18M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$49.55M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$66.50M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$29.49M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$40.65M	USD	1 Quarter
Net income	`NetIncomeLoss`	$50.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$85.73M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$68.18M	USD	1 Quarter
Net income	`NetIncomeLoss`	$92.03M	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$20.88	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$17.38	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$10.37	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$15.68	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$10.11	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$20.19	USD	2 Qtrs
Diluted earnings per share	`EarningsPerShareDiluted`	$15.17	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$16.92	USD	2 Qtrs
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	4.93M	shares	2 Qtrs
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	4.41M	shares	2 Qtrs
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	4.35M	shares	1 Quarter
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	4.89M	shares	1 Quarter
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.56M	shares	2 Qtrs
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.01M	shares	1 Quarter
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.07M	shares	2 Qtrs
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.50M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$50.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$85.73M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$68.18M	USD	1 Quarter
Net income	`NetIncomeLoss`	$92.03M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.93M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.85M	USD	2 Qtrs
Excess income tax benefit from equity-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$6.05M	USD	2 Qtrs
Excess income tax benefit from equity-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$23.73M	USD	2 Qtrs
Equity-based compensation expense	`ShareBasedCompensation`	$26.64M	USD	2 Qtrs
Equity-based compensation expense	`ShareBasedCompensation`	$18.65M	USD	2 Qtrs
Contract land deposit recoveries, net	`ContractLandDepositImpairmentRecoveries`	$3.65M	USD	2 Qtrs
Contract land deposit recoveries, net	`ContractLandDepositImpairmentRecoveries`	$3.99M	USD	2 Qtrs
Gain on sale of loans	`GainLossOnSaleOfMortgageLoans`	$28.16M	USD	2 Qtrs
Gain on sale of loans	`GainLossOnSaleOfMortgageLoans`	$20.50M	USD	2 Qtrs
Mortgage loans closed	`PaymentsForOriginationOfMortgageLoansHeldForSale`	$1.03B	USD	2 Qtrs
Mortgage loans closed	`PaymentsForOriginationOfMortgageLoansHeldForSale`	$1.01B	USD	2 Qtrs
Mortgage loans sold and principal payments on mortgage loans held for sale	`ProceedsFromSaleOfMortgageLoansHeldForSale`	$1.06B	USD	2 Qtrs
Mortgage loans sold and principal payments on mortgage loans held for sale	`ProceedsFromSaleOfMortgageLoansHeldForSale`	$1.07B	USD	2 Qtrs
Distribution of earnings from unconsolidated joint ventures	`EquityMethodInvestmentDividendsOrDistributions`	$4.72M	USD	2 Qtrs
Distribution of earnings from unconsolidated joint ventures	`EquityMethodInvestmentDividendsOrDistributions`	$1.33M	USD	2 Qtrs
Increase in inventory	`IncreaseDecreaseInInventories`	$212.50M	USD	2 Qtrs
Increase in inventory	`IncreaseDecreaseInInventories`	$256.54M	USD	2 Qtrs
Increase in contract land deposits	`IncreaseDecreaseInDepositsOutstanding`	$12.20M	USD	2 Qtrs
Increase in contract land deposits	`IncreaseDecreaseInDepositsOutstanding`	$13.27M	USD	2 Qtrs
Increase in receivables	`IncreaseDecreaseInReceivables`	$5.59M	USD	2 Qtrs
Increase in receivables	`IncreaseDecreaseInReceivables`	$5.55M	USD	2 Qtrs
Increase in accounts payable, accrued expenses and customer deposits	`IncreaseDecreaseInAccountsPayableCustomerDepositsAndAccruedExpenses`	$106.72M	USD	2 Qtrs
Increase in accounts payable, accrued expenses and customer deposits	`IncreaseDecreaseInAccountsPayableCustomerDepositsAndAccruedExpenses`	$61.27M	USD	2 Qtrs
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$9.57M	USD	2 Qtrs
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$10.78M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.08M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-90.51M	USD	2 Qtrs
Investments in and advances to unconsolidated joint ventures	`PaymentsToAcquireInterestInJointVenture`	$11.00M	USD	2 Qtrs
Distribution of capital from unconsolidated joint ventures	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$2.12M	USD	2 Qtrs
Distribution of capital from unconsolidated joint ventures	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$8.28M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.80M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.09M	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$363.00K	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$257.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.16M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-16.71M	USD	2 Qtrs
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$294.98M	USD	2 Qtrs
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$347.45M	USD	2 Qtrs
Repayments under non-recourse debt related to consolidated variable interest entity and note payable	`RepaymentsOfOtherDebt`	$3.28M	USD	2 Qtrs
Repayments under non-recourse debt related to consolidated variable interest entity and note payable	`RepaymentsOfOtherDebt`	$2.22M	USD	2 Qtrs
Distributions to partner in consolidated variable interest entity	`PaymentsToMinorityShareholders`	$281.00K	USD	2 Qtrs
Excess income tax benefit from equity-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$23.73M	USD	2 Qtrs
Excess income tax benefit from equity-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$6.05M	USD	2 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$60.59M	USD	2 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$6.67M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-267.86M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-283.31M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-312.55M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-375.08M	USD	2 Qtrs
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$553.71M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$778.42M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.15B	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$866.25M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$553.71M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$778.42M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.15B	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$866.25M	USD	Point-in-time
Interest paid during the period, net of interest capitalized	`InterestPaidNet`	$12.17M	USD	2 Qtrs
Interest paid during the period, net of interest capitalized	`InterestPaidNet`	$12.61M	USD	2 Qtrs
Income taxes paid during the period, net of refunds	`IncomeTaxesPaidNet`	$15.04M	USD	2 Qtrs
Income taxes paid during the period, net of refunds	`IncomeTaxesPaidNet`	$63.13M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.