TMHC · As filed with the SEC
Taylor Morrison Home cash flow statement, by fiscal year
The statement as Taylor Morrison Home presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Cash Flows · USD thousands
| USD thousands | FY2025 Year ended Dec 31, 2025 | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Cash Flows from Operating Activities | ||||||
| Net income before allocation to non-controlling interests | 791,263 | 886,570 | 769,741 | 1,056,247 | 682,367 | 249,527 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
| Net income from unconsolidated entities | (4,867) | (6,347) | (8,757) | 14,184 | (11,130) | (11,176) |
| Stock compensation expense | 29,049 | 22,461 | 26,095 | 26,901 | 19,943 | 32,129 |
| Loss on extinguishment of debt, net | 13,324 | 0 | 295 | — | 0 | — |
| Gain on land transfers | — | 0 | 0 | (14,508) | 0 | 0 |
| Distributions of earnings from unconsolidated entities | 12,789 | 12,929 | 9,230 | 5,270 | 10,740 | 11,564 |
| (Gain)/loss on extinguishment of debt | — | — | — | (13,876) | 0 | 10,247 |
| Depreciation and amortization | 40,182 | 41,190 | 33,406 | 33,839 | 39,980 | 37,336 |
| Lease expense | 17,641 | 20,361 | 24,808 | 27,420 | 17,885 | 16,785 |
| Debt issuance costs amortization | 2,732 | 2,890 | 3,315 | 2,260 | 539 | (1,852) |
| Estimated development liability change in estimate | 0 | (23,051) | (14,829) | — | 0 | — |
| Deferred income taxes | 1,885 | (8,423) | (169) | 83,584 | 86,838 | 50,582 |
| Real estate impairment charges | 28,821 | 29,637 | 11,791 | 24,870 | 0 | 9,611 |
| Change in Build-to-Rent/Urban Form assets due to sale | 67,247 | 79,976 | 0 | — | 20,440 | — |
| Land held for sale impairments | — | — | 0 | 0 | 4,663,000 | 4,347,000 |
| Change in Urban Form/BTR assets due to sales | — | — | — | 42,046 | 20,440 | 0 |
| Changes in operating assets and liabilities: | ||||||
| Real estate inventory and land deposits | 26,578 | (797,330) | (78,575) | (50,792) | (343,127) | 535,238 |
| Mortgage loans held for sale, prepaid expenses and other assets, net | (183,070) | (182,084) | 31,012 | 5,789 | (511,220) | (35,878) |
| Customer deposits | (114,122) | (86,936) | (86,005) | (73,613) | 174,448 | 132,446 |
| Accounts payable, accrued expenses and other liabilities | 81,990 | 215,993 | 84,811 | (61,849) | 197,121 | 62,329 |
| Income taxes payable | 5,903 | 2,243 | 0 | 0 | (12,841) | 20,047 |
| Net cash provided by operating activities | 817,345 | 210,079 | 806,169 | 1,107,772 | 376,646 | 1,123,282 |
| Cash Flows from Investing Activities: | ||||||
| Purchase of property and equipment | (40,372) | (36,330) | (33,426) | (30,581) | (21,199) | (37,760) |
| Payments for business acquisitions, net of cash acquired | — | — | — | 0 | 0 | (279,048) |
| Distributions of capital from unconsolidated entities | 30,401 | 29,698 | 824 | 125,275 | 31,915 | 40,062 |
| Investments of capital into unconsolidated entities | (85,578) | (129,809) | (64,589) | (109,574) | (74,976) | (36,058) |
| Payments to acquire investments and securities | — | — | 0 | 0 | (10,000,000) | 0 |
| Purchase of fixed-maturity securities | (55,738) | — | — | — | — | — |
| Proceeds from sale and maturities of fixed-maturity securities | 1,385 | — | — | — | — | — |
| Purchase of equity securities | (4,870) | — | — | — | — | — |
| Net cash used in investing activities | (154,772) | (136,441) | (97,191) | (14,880) | (74,260) | (312,804) |
| Cash Flows from Financing Activities | ||||||
| Increase in loans payable and other borrowings | 198,640 | 0 | 7,103 | 38,202 | 130,493 | 93,440 |
| Repayments on loans payable and other borrowings | (1,250) | (52,093) | (20,747) | (71,172) | (124,786) | (141,103) |
| Borrowings on revolving credit facilities | — | 100,000 | 0 | 381,019 | 131,529 | 830,000 |
| Borrowings on revolving credit facilities | 240,000 | — | — | — | — | — |
| Repayments on revolving credit facilities | (240,000) | (100,000) | 0 | (412,548) | (100,000) | (830,000) |
| Borrowings on mortgage warehouse facilities | 3,466,875 | 3,652,098 | 3,007,682 | 2,662,241 | 3,327,954 | 2,448,980 |
| Repayments on mortgage warehouse facilities | (3,558,730) | (3,631,102) | (3,160,290) | (2,770,056) | (3,041,356) | (2,489,867) |
| Proceeds from issuance of senior notes | 525,000 | — | — | 0 | 0 | 500,000 |
| Repayments on senior notes | (527,070) | 0 | (350,000) | (622,780) | 0 | (861,775) |
| Payment of deferred financing costs | — | — | — | 0 | 0 | (6,351) |
| Proceeds from stock option exercises | — | — | — | 6,697 | 23,331 | 9,579 |
| Payment of deferred financing costs | (15,621) | — | — | — | — | — |
| Changes in stock option exercises and issuance of restricted stock, net | (493) | (4,716) | 17,013 | — | 17,911 | — |
| Payment of principal portion of finance lease | (1,385) | (1,404) | (1,316) | (1,344) | (1,345) | (1,325) |
| Repurchase of common stock, net | (381,016) | (347,598) | (127,959) | (376,275) | (281,420) | (103,332) |
| Payment of taxes related to net share settlement of equity awards | — | — | — | (5,320) | (5,420) | (9,228) |
| Distributions to non-controlling interests of consolidated joint ventures, net | — | — | — | (31,261) | (59,135) | (8,291) |
| Payment to acquire non-controlling interests | — | — | — | 0 | 0 | (35,668) |
| Cash and distributions to non-controlling interests of consolidated joint ventures, net | (3,458) | (8,756) | 0 | — | (59,135) | — |
| Net cash used in financing activities | (298,508) | (393,571) | (628,514) | (1,202,597) | (155) | (604,941) |
| Net Increase/(Decrease) in Cash and Cash Equivalents and Restricted Cash | 364,065 | (319,933) | 80,464 | (109,705) | 302,231 | 205,537 |
| Cash, Cash Equivalents, and Restricted Cash - Beginning of period | 487,166 | 807,099 | 726,635 | 836,340 | 534,109 | 328,572 |
| Cash, Cash Equivalents, and Restricted Cash - End of period | 851,231 | 487,166 | 807,099 | 726,635 | 836,340 | 534,109 |
| Supplemental Cash Flow Information | ||||||
| Income tax payments | (303,965) | (264,425) | (204,274) | (270,034) | (146,171) | (3,357) |
| Supplemental Non-Cash Investing and Financing Activities: | ||||||
| Loans payable issued to sellers in connection with land purchase contracts | 246,588 | 341,020 | 235,554 | 231,027 | 279,646 | 193,308 |
| Change in inventory not owned | — | (423) | 47,647 | (31,343) | (67,459) | (86,393) |
| Investments of land in unconsolidated joint ventures, net | — | 0 | 0 | 146,649 | 0 | 0 |
| Impairment in unconsolidated joint ventures | — | 0 | 0 | (14,714) | 0 | 0 |
| Issuance of common stock in connection with business acquisition | — | — | — | 0 | 0 | 797,970 |
| Net non-cash (distributions)/contributions (to)/from unconsolidated entities | — | — | 0 | 0 | (3,599,000) | 5,002,000 |
| Non-cash portion of loss on debt extinguishment | — | — | — | 0 | 0 | 1,723 |
| Common stock surrendered in connection with warrant exercise | — | — | 0 | 0 | 32,587,000 | 0 |
| Common stock issued in connection with warrant exercise | — | — | 0 | 0 | (32,584,000) | 0 |
| Change in consolidated real estate not owned | 23,000 | — | — | — | — | — |
| Non-cash portion of loss on debt extinguishment | 1,860 | — | — | — | — | — |
| Accrual of excise tax on share repurchases | (3,341) | — | — | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.