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10-Q Filing

TAYLOR MORRISON HOME CORP CIK: 1562476 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001628280-22-010789
Period End Date 20220331
Filing Date 20220427
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance tmhc-20220331_htm.xml
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $832.82M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $569.25M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $1.58M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $3.52M USD Point-in-time
Total cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $393.48M USD Point-in-time
Total cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $570.83M USD Point-in-time
Total cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $534.11M USD Point-in-time
Total cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $836.34M USD Point-in-time
Owned inventory InventoryRealEstateOwned $5.70B USD Point-in-time
Owned inventory InventoryRealEstateOwned $5.44B USD Point-in-time
Consolidated real estate not owned InventoryRealEstateNotOwned $43.42M USD Point-in-time
Consolidated real estate not owned InventoryRealEstateNotOwned $55.31M USD Point-in-time
Total real estate inventory InventoryRealEstate $5.50B USD Point-in-time
Total real estate inventory InventoryRealEstate $5.74B USD Point-in-time
Land deposits DepositsAssets $260.86M USD Point-in-time
Land deposits DepositsAssets $229.53M USD Point-in-time
Mortgage loans held for sale TradeAndLoansReceivablesHeldForSaleNetNotPartOfDisposalGroup $229.65M USD Point-in-time
Mortgage loans held for sale TradeAndLoansReceivablesHeldForSaleNetNotPartOfDisposalGroup $467.53M USD Point-in-time
Derivative assets DerivativeAssets $2.11M USD Point-in-time
Derivative assets DerivativeAssets $5.50M USD Point-in-time
Lease right of use assets OperatingAndFinanceLeaseRightOfUseAsset $85.58M USD Point-in-time
Lease right of use assets OperatingAndFinanceLeaseRightOfUseAsset $85.86M USD Point-in-time
Prepaid expenses and other assets, net PrepaidExpenseAndOtherAssets $271.18M USD Point-in-time
Prepaid expenses and other assets, net PrepaidExpenseAndOtherAssets $314.99M USD Point-in-time
Other receivables, net OtherReceivables $150.86M USD Point-in-time
Other receivables, net OtherReceivables $155.66M USD Point-in-time
Investments in unconsolidated entities InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $173.23M USD Point-in-time
Investments in unconsolidated entities InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $171.41M USD Point-in-time
Deferred tax assets, net DeferredIncomeTaxAssetsNet $151.24M USD Point-in-time
Deferred tax assets, net DeferredIncomeTaxAssetsNet $151.24M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $207.92M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $155.18M USD Point-in-time
Goodwill Goodwill $663.20M USD Point-in-time
Goodwill Goodwill $663.20M USD Point-in-time
Total assets Assets $8.52B USD Point-in-time
Total assets Assets $8.73B USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $225.31M USD Point-in-time
Accounts payable AccountsPayableCurrentAndNoncurrent $253.35M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesAndOtherLiabilities $525.21M USD Point-in-time
Accrued expenses and other liabilities AccruedLiabilitiesAndOtherLiabilities $416.88M USD Point-in-time
Lease liabilities OperatingAndFinanceLeaseLiability $96.17M USD Point-in-time
Lease liabilities OperatingAndFinanceLeaseLiability $94.41M USD Point-in-time
Income taxes payable AccruedIncomeTaxes - USD Point-in-time
Income taxes payable AccruedIncomeTaxes $15.35M USD Point-in-time
Customer deposits ContractWithCustomerLiability $540.92M USD Point-in-time
Customer deposits ContractWithCustomerLiability $485.70M USD Point-in-time
Estimated development liabilities EstimatedDevelopmentLiability $38.52M USD Point-in-time
Estimated development liabilities EstimatedDevelopmentLiability $38.92M USD Point-in-time
Senior notes, net SeniorNotes $2.45B USD Point-in-time
Senior notes, net SeniorNotes $2.45B USD Point-in-time
Loans payable and other borrowings LoansPayable $395.40M USD Point-in-time
Loans payable and other borrowings LoansPayable $404.39M USD Point-in-time
Revolving credit facility borrowings LineOfCredit - USD Point-in-time
Revolving credit facility borrowings LineOfCredit $31.53M USD Point-in-time
Mortgage warehouse borrowings WarehouseAgreementBorrowings $413.89M USD Point-in-time
Mortgage warehouse borrowings WarehouseAgreementBorrowings $200.66M USD Point-in-time
Liabilities attributable to consolidated real estate not owned LiabilitiesAttributableToConsolidatedOptionAgreements $43.42M USD Point-in-time
Liabilities attributable to consolidated real estate not owned LiabilitiesAttributableToConsolidatedOptionAgreements $55.31M USD Point-in-time
Total liabilities Liabilities $4.42B USD Point-in-time
Total liabilities Liabilities $4.76B USD Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 13) CommitmentsAndContingencies - USD Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 13) CommitmentsAndContingencies - USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.09B USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.59B USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.66B USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.97B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $8.52B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $8.73B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $1.42B USD 1 Quarter
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $1.70B USD 1 Quarter
Total cost of revenue CostOfRevenue $1.31B USD 1 Quarter
Total cost of revenue CostOfRevenue $1.14B USD 1 Quarter
Gross margin GrossProfit $393.13M USD 1 Quarter
Gross margin GrossProfit $274.44M USD 1 Quarter
Sales, commissions and other marketing costs SellingAndMarketingExpense $89.12M USD 1 Quarter
Sales, commissions and other marketing costs SellingAndMarketingExpense $85.95M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $68.14M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $61.55M USD 1 Quarter
Equity in income of unconsolidated entities IncomeLossFromEquityMethodInvestments $5.66M USD 1 Quarter
Equity in income of unconsolidated entities IncomeLossFromEquityMethodInvestments $1.83M USD 1 Quarter
Interest expense/(income), net InterestIncomeExpenseNet $-4.25M USD 1 Quarter
Interest expense/(income), net InterestIncomeExpenseNet $119.00K USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-975.00K USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-542.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $232.90M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $131.74M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $29.30M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $54.44M USD 1 Quarter
Net income before allocation to non-controlling interests ProfitLoss $102.44M USD 1 Quarter
Net income before allocation to non-controlling interests ProfitLoss $178.46M USD 1 Quarter
Net income attributable to non-controlling interests NoncontrollingInterestInNetIncomeLossJointVenturePartnersRedeemable $1.76M USD 1 Quarter
Net income attributable to non-controlling interests NoncontrollingInterestInNetIncomeLossJointVenturePartnersRedeemable $4.42M USD 1 Quarter
Net income available to Taylor Morrison Home Corporation NetIncomeLoss $176.70M USD 1 Quarter
Net income available to Taylor Morrison Home Corporation NetIncomeLoss $98.02M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $1.46 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.76 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.75 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $1.44 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 121.19M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 128.88M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 122.66M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 131.25M shares 1 Quarter
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Net income before allocation to non-controlling interests ProfitLoss $102.44M USD 1 Quarter
Net income before allocation to non-controlling interests ProfitLoss $178.46M USD 1 Quarter
Equity in income of unconsolidated entities IncomeLossFromEquityMethodInvestments $5.66M USD 1 Quarter
Equity in income of unconsolidated entities IncomeLossFromEquityMethodInvestments $1.83M USD 1 Quarter
Stock compensation expense ShareBasedCompensation $5.68M USD 1 Quarter
Stock compensation expense ShareBasedCompensation $6.86M USD 1 Quarter
Distributions of earnings from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions $3.16M USD 1 Quarter
Distributions of earnings from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions $2.06M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $8.84M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $9.64M USD 1 Quarter
Operating lease expense OperatingLeaseExpense $6.91M USD 1 Quarter
Operating lease expense OperatingLeaseExpense $3.97M USD 1 Quarter
Debt issuance costs amortization AmortizationOfDebtDiscountPremium $191.00K USD 1 Quarter
Debt issuance costs amortization AmortizationOfDebtDiscountPremium $118.00K USD 1 Quarter
Real estate inventory and land deposits IncreaseDecreaseInInventories $356.52M USD 1 Quarter
Real estate inventory and land deposits IncreaseDecreaseInInventories $286.83M USD 1 Quarter
Mortgages held for sale, prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-171.62M USD 1 Quarter
Mortgages held for sale, prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $85.27M USD 1 Quarter
Customer deposits IncreaseDecreaseInContractWithCustomerLiability $110.58M USD 1 Quarter
Customer deposits IncreaseDecreaseInContractWithCustomerLiability $55.21M USD 1 Quarter
Accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-138.25M USD 1 Quarter
Accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $34.21M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $33.34M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $54.21M USD 1 Quarter
Net cash provided by/(used in) operating activities NetCashProvidedByUsedInOperatingActivities $57.46M USD 1 Quarter
Net cash provided by/(used in) operating activities NetCashProvidedByUsedInOperatingActivities $-144.31M USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $5.39M USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $7.82M USD 1 Quarter
Distributions of capital from unconsolidated entities DistributionsOfCapitalFromUnconsolidatedEntities $7.45M USD 1 Quarter
Distributions of capital from unconsolidated entities DistributionsOfCapitalFromUnconsolidatedEntities - USD 1 Quarter
Investments of capital into unconsolidated entities PaymentsToAcquireInterestInJointVenture $13.10M USD 1 Quarter
Investments of capital into unconsolidated entities PaymentsToAcquireInterestInJointVenture $2.05M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-7.44M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-13.47M USD 1 Quarter
Increase in loans payable and other borrowings ProceedsFromBankDebt $36.87M USD 1 Quarter
Increase in loans payable and other borrowings ProceedsFromBankDebt $18.29M USD 1 Quarter
Repayments on loans payable and other borrowings RepaymentsOfBankDebt $26.69M USD 1 Quarter
Repayments on loans payable and other borrowings RepaymentsOfBankDebt $27.58M USD 1 Quarter
Borrowings on revolving credit facilities ProceedsFromRevolvingCreditFacility $32.55M USD 1 Quarter
Borrowings on revolving credit facilities ProceedsFromRevolvingCreditFacility - USD 1 Quarter
Repayments on revolving credit facilities RepaymentsOfLongTermLinesOfCredit - USD 1 Quarter
Repayments on revolving credit facilities RepaymentsOfLongTermLinesOfCredit $64.08M USD 1 Quarter
Borrowings on mortgage warehouse facilities ProceedsFromLinesOfCredit $697.40M USD 1 Quarter
Borrowings on mortgage warehouse facilities ProceedsFromLinesOfCredit $562.02M USD 1 Quarter
Repayments on mortgage warehouse facilities RepaymentsOfLinesOfCredit $643.85M USD 1 Quarter
Repayments on mortgage warehouse facilities RepaymentsOfLinesOfCredit $775.25M USD 1 Quarter
Proceeds from stock option exercises ProceedsFromStockOptionsExercised $6.32M USD 1 Quarter
Proceeds from stock option exercises ProceedsFromStockOptionsExercised $2.36M USD 1 Quarter
Payment of principle portion of finance lease FinanceLeasePrincipalPayments $1.33M USD 1 Quarter
Payment of principle portion of finance lease FinanceLeasePrincipalPayments $1.32M USD 1 Quarter
Repurchase of common stock, net PaymentsForRepurchaseOfCommonStock $38.42M USD 1 Quarter
Repurchase of common stock, net PaymentsForRepurchaseOfCommonStock $58.03M USD 1 Quarter
Payment of taxes related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $5.29M USD 1 Quarter
Payment of taxes related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.62M USD 1 Quarter
Cash and distributions to non-controlling interests of consolidated joint ventures, net ProceedsFromPaymentsToMinorityShareholders $-1.75M USD 1 Quarter
Cash and distributions to non-controlling interests of consolidated joint ventures, net ProceedsFromPaymentsToMinorityShareholders $-6.97M USD 1 Quarter
Net cash (used in)/provided by financing activities NetCashProvidedByUsedInFinancingActivities $17.15M USD 1 Quarter
Net cash (used in)/provided by financing activities NetCashProvidedByUsedInFinancingActivities $-315.53M USD 1 Quarter
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-140.63M USD 1 Quarter
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-265.51M USD 1 Quarter
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $393.48M USD Point-in-time
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $570.83M USD Point-in-time
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $534.11M USD Point-in-time
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $836.34M USD Point-in-time
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $393.48M USD Point-in-time
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $570.83M USD Point-in-time
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $534.11M USD Point-in-time
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $836.34M USD Point-in-time
Income tax (payments)/refund, net IncomeTaxesPaidNet $4.59M USD 1 Quarter
Income tax (payments)/refund, net IncomeTaxesPaidNet $-228.00K USD 1 Quarter
Change in loans payable issued to sellers in connection with land purchase contracts IncreaseDecreaseInLoansPayableIssuedToSellersInConnectionWithLandPurchaseContracts $59.83M USD 1 Quarter
Change in loans payable issued to sellers in connection with land purchase contracts IncreaseDecreaseInLoansPayableIssuedToSellersInConnectionWithLandPurchaseContracts $82.38M USD 1 Quarter
Change in inventory not owned NoncashInvestingAndFinancingActivitiesIncreaseDecreaseInInventoryNotOwned $-11.90M USD 1 Quarter
Change in inventory not owned NoncashInvestingAndFinancingActivitiesIncreaseDecreaseInInventoryNotOwned $-64.92M USD 1 Quarter
Net non-cash distributions from non-controlling interests NoncashContributionsFromNonControllingInterests - USD 1 Quarter
Net non-cash distributions from non-controlling interests NoncashContributionsFromNonControllingInterests $990.00K USD 1 Quarter
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Balance, beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.09B USD Point-in-time
Balance, beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.59B USD Point-in-time
Balance, beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.66B USD Point-in-time
Balance, beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.97B USD Point-in-time
Net income ProfitLoss $102.44M USD 1 Quarter
Net income ProfitLoss $178.46M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueShareBasedCompensation $2.36M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueShareBasedCompensation $6.32M USD 1 Quarter
Issuance of restricted stock units, net of shares withheld for tax RestrictedStockValueSharesIssuedNetOfTaxWithholdings $-3.62M USD 1 Quarter
Issuance of restricted stock units, net of shares withheld for tax RestrictedStockValueSharesIssuedNetOfTaxWithholdings $-4.66M USD 1 Quarter
Repurchase of common stock (in shares) TreasuryStockSharesAcquired 1.95M shares 1 Quarter
Repurchase of common stock (in shares) TreasuryStockSharesAcquired 1.45M shares 1 Quarter
Repurchase of common stock TreasuryStockValueAcquiredCostMethod $58.03M USD 1 Quarter
Repurchase of common stock TreasuryStockValueAcquiredCostMethod $38.42M USD 1 Quarter
Stock compensation expense AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition $6.86M USD 1 Quarter
Stock compensation expense AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition $5.68M USD 1 Quarter
Distributions to non-controlling interests of consolidated joint ventures MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $7.96M USD 1 Quarter
Distributions to non-controlling interests of consolidated joint ventures MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $1.75M USD 1 Quarter
Changes in non-controlling interests of consolidated joint ventures NoncontrollingInterestIncreaseDecreaseFromContributionsDistributionsToNoncontrollingInterestHolders $-462.00K USD 1 Quarter
Changes in non-controlling interests of consolidated joint ventures NoncontrollingInterestIncreaseDecreaseFromContributionsDistributionsToNoncontrollingInterestHolders $-1.59M USD 1 Quarter
Balance, end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.09B USD Point-in-time
Balance, end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.59B USD Point-in-time
Balance, end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.66B USD Point-in-time
Balance, end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.97B USD Point-in-time
Comprehensive Income 6 line items
Line Item Tag Value Unit Period
Comprehensive Income before non-controlling interests, net of tax ProfitLoss $102.44M USD 1 Quarter
Comprehensive Income before non-controlling interests, net of tax ProfitLoss $178.46M USD 1 Quarter
Comprehensive income attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $4.42M USD 1 Quarter
Comprehensive income attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $1.76M USD 1 Quarter
Comprehensive income available to Taylor Morrison Home Corporation ComprehensiveIncomeNetOfTax $98.02M USD 1 Quarter
Comprehensive income available to Taylor Morrison Home Corporation ComprehensiveIncomeNetOfTax $176.70M USD 1 Quarter

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

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