falsedesktopTMHC2020-09-30000162828020015258{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Class\tOutstanding as of November 2 2020\nCommon stock $0.00001 par value\t129943094\n", "q10k_tbl_1": "\tPage\nPART I. FINANCIAL INFORMATION\t\nItem 1. Financial Statements of Taylor Morrison Home Corporation (Unaudited)\t2\nCondensed Consolidated Balance Sheets as of September 30 2020 and December 31 2019\t2\nCondensed Consolidated Statements of Operations for the three and nine month periods ended September 30 2020 and 2019\t3\nCondensed Consolidated Statements of Comprehensive Income for the three and nine month periods ended September 30 2020 and 2019\t4\nCondensed Consolidated Statement of Stockholders' Equity for the three and nine month periods ended September 30 2020 and 2019\t5\nCondensed Consolidated Statements of Cash Flows for the nine month periods ended September 30 2020 and 2019\t8\nNotes to the Unaudited Condensed Consolidated Financial Statements\t10\nItem 2. Management's Discussion and Analysis of Financial Condition and Results of Operations\t31\nItem 3. Quantitative and Qualitative Disclosures About Market Risk\t48\nItem 4. Controls and Procedures\t49\nPART II. OTHER INFORMATION\t\nItem 1. Legal Proceedings\t50\nItem 1A. Risk Factors\t50\nItem 2. Unregistered Sales of Equity Securities and Use of Proceeds\t51\nItem 3. Defaults Upon Senior Securities\t52\nItem 4. Mine Safety Disclosures\t52\nItem 5. Other Information\t52\nItem 6. Exhibits\t53\nSIGNATURES\t54\n", "q10k_tbl_2": "\tSeptember 30 2020\tDecember 31 2019\nAssets\t\t\nCash and cash equivalents\t547916\t326437\nRestricted cash\t1144\t2135\nTotal cash cash equivalents and restricted cash\t549060\t328572\nOwned inventory\t5300106\t3967359\nConsolidated real estate not owned\t122776\t19185\nTotal real estate inventory\t5422882\t3986544\nLand deposits\t138160\t39810\nMortgage loans held for sale\t172501\t190880\nDerivative assets\t6800\t2099\nLease right of use assets\t71319\t36663\nPrepaid expenses and other assets net\t223891\t85515\nOther receivables net\t90722\t70447\nInvestments in unconsolidated entities\t125132\t128759\nDeferred tax assets net\t273983\t140466\nProperty and equipment net\t95546\t85866\nIntangible assets net\t950\t637\nGoodwill\t663502\t149428\nTotal assets\t7834448\t5245686\nLiabilities\t\t\nAccounts payable\t188470\t164580\nAccrued expenses and other liabilities\t398489\t325368\nLease liabilities\t80270\t42317\nIncome taxes payable\t30497\t3719\nCustomer deposits\t256295\t167328\nEstimated development liability\t35444\t36705\nSenior notes net\t2452526\t1635008\nLoans payable and other borrowings\t332953\t182531\nRevolving credit facility borrowings\t285000\t0\nMortgage warehouse borrowings\t109593\t123233\nLiabilities attributable to consolidated real estate not owned\t122776\t19185\nTotal liabilities\t4292313\t2699974\nCOMMITMENTS AND CONTINGENCIES (Note 16)\t\t\nStockholders' Equity\t\t\nTotal stockholders' equity\t3542135\t2545712\nTotal liabilities and stockholders' equity\t7834448\t5245686\n", "q10k_tbl_3": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nHome closings revenue net\t1640584\t1073110\t4376218\t3205252\nLand closings revenue\t6756\t4420\t40241\t14391\nFinancial services revenue\t47451\t23254\t115787\t62117\nAmenity and other revenue\t4643\t4321\t39572\t13863\nTotal revenue\t1699434\t1105105\t4571818\t3295623\nCost of home closings\t1358196\t874102\t3672923\t2619968\nCost of land closings\t5217\t2934\t42636\t9418\nFinancial services expenses\t22207\t12829\t65650\t36595\nAmenity and other expenses\t4125\t4166\t38986\t12754\nTotal cost of revenue\t1389745\t894031\t3820195\t2678735\nGross margin\t309689\t211074\t751623\t616888\nSales commissions and other marketing costs\t102015\t76765\t282380\t226809\nGeneral and administrative expenses\t45152\t42334\t146790\t120990\nEquity in income of unconsolidated entities\t(2957)\t(2103)\t(8878)\t(7983)\nInterest income net\t(347)\t(959)\t(1244)\t(2250)\nOther expense/(income) net\t1830\t389\t7424\t(1492)\nTransaction expenses\t4791\t617\t109877\t6496\nLoss on extinguishment of debt net\t10247\t3610\t10247\t5806\nIncome before income taxes\t148958\t90421\t205027\t268512\nIncome tax provision\t33759\t23385\t52162\t68307\nNet income before allocation to non-controlling interests\t115199\t67036\t152865\t200205\nNet income attributable to non-controlling interests - joint ventures\t(422)\t(24)\t(3845)\t(211)\nNet income available to Taylor Morrison Home Corporation\t114777\t67012\t149020\t199994\nEarnings per common share\t\t\t\t\nBasic\t0.88\t0.64\t1.17\t1.86\nDiluted\t0.87\t0.63\t1.16\t1.84\nWeighted average number of shares of common stock:\t\t\t\t\nBasic\t129775\t105472\t127113\t107389\nDiluted\t131433\t106852\t128081\t108599\n", "q10k_tbl_4": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nIncome before non-controlling interests net of tax\t115199\t67036\t152865\t200205\nPost-retirement benefits adjustments net of tax\t0\t0\t(13)\t(284)\nComprehensive income\t115199\t67036\t152852\t199921\nComprehensive income attributable to non-controlling interests - joint ventures\t(422)\t(24)\t(3845)\t(211)\nComprehensive income available to Taylor Morrison Home Corporation\t114777\t67012\t149007\t199710\n", "q10k_tbl_5": "For the three months ended September 30 2020\t\t\t\t\t\t\t\t\n\tCommon Stock\t\tAdditional Paid-in Capital\tTreasury Stock\t\tStockholders' Equity\t\t\t\t\t\t\t\t\n\tShares\tAmount\t\tAmount\tShares\tAmount\tRetained Earnings\tAccumulated Other Comprehensive Income/(Loss)\t\t\t\tNon-controlling Interest - Joint Venture\t\t\t\t\t\t\t\t\t\t\t\tTotal Stockholders' Equity\t\t\nBalance - June 30 2020\t129678751\t1\t\t2915702\t25379911\t(433687)\t816593\t871\t\t\t\t125260\t\t\t\t\t\t\t\t\t\t\t\t3424740\t\t\nNet income\t0\t0\t\t0\t0\t0\t114777\t0\t\t\t\t422\t\t\t\t\t\t\t\t\t\t\t\t115199\t\t\nExercise of stock options\t137553\t0\t\t2507\t0\t0\t0\t0\t\t\t\t0\t\t\t\t\t\t\t\t\t\t\t\t2507\t\t\nIssuance of restricted stock units net of shares withheld for tax(1)\t49122\t0\t\t(1403)\t0\t0\t0\t0\t\t\t\t0\t\t\t\t\t\t\t\t\t\t\t\t(1403)\t\t\nSettlement of equity in connection with business combinations\t0\t0\t\t(1301)\t0\t0\t0\t0\t\t\t\t0\t\t\t\t\t\t\t\t\t\t\t\t(1301)\t\t\nStock compensation expense\t0\t0\t\t5272\t0\t0\t0\t0\t\t\t\t0\t\t\t\t\t\t\t\t\t\t\t\t5272\t\t\nDistributions to non-controlling interests of consolidated joint ventures\t0\t0\t\t0\t0\t0\t0\t0\t\t\t\t(12628)\t\t\t\t\t\t\t\t\t\t\t\t(12628)\t\t\nChanges in non-controlling interests of consolidated joint ventures\t0\t0\t\t0\t0\t0\t0\t0\t\t\t\t9749\t\t\t\t\t\t\t\t\t\t\t\t9749\t\t\nBalance - September 30 2020\t129865426\t1\t\t2920777\t25379911\t(433687)\t931370\t871\t\t\t\t122803\t\t\t\t\t\t\t\t\t\t\t\t3542135\t\t\n", "q10k_tbl_6": "For the three months ended September 30 2019\t\t\t\t\t\t\t\t\t\t\n\tCommon Stock\t\tAdditional Paid-in Capital\tTreasury Stock\t\tStockholders' Equity\t\t\t\n\tShares\tAmount\t\tAmount\tShares\tAmount\tRetained Earnings\tAccumulated Other Comprehensive Income\tNon-controlling Interest - Joint Venture\tTotal Stockholders' Equity\nBalance - June 30 2019\t105184522\t1\t\t2079224\t19943432\t(343526)\t660680\t2285\t4587\t2403251\nNet income\t0\t0\t\t0\t0\t0\t67012\t0\t24\t67036\nExercise of stock options\t635524\t0\t\t10841\t0\t0\t0\t0\t0\t10841\nIssuance of restricted stock units net of shares withheld for tax(1)\t6513\t0\t\t(8)\t0\t0\t0\t0\t0\t(8)\nStock compensation expense\t0\t0\t\t3693\t0\t0\t0\t0\t0\t3693\nDistributions to non-controlling interests of consolidated joint ventures\t0\t0\t\t0\t0\t0\t0\t0\t(18)\t(18)\nChanges in non-controlling interests of consolidated joint ventures\t0\t0\t\t0\t0\t0\t0\t0\t1183\t1183\nBalance - September 30 2019\t105826559\t1\t\t2093750\t19943432\t(343526)\t727692\t2285\t5776\t2485978\n", "q10k_tbl_7": "For the nine months ended September 30 2020\t\t\t\t\t\t\t\t\t\t\t\t\n\tCommon Stock\t\tAdditional Paid-in Capital\tTreasury Stock\t\t\tStockholders' Equity\t\t\t\n\tShares\tAmount\t\t\tAmount\tShares\t\tAmount\tRetained Earnings\tAccumulated Other Comprehensive Income\tNon-controlling Interest - Joint Venture\tTotal Stockholders' Equity\nBalance - December 31 2019\t105851285\t1\t\t\t2097995\t19943432\t\t(343524)\t782350\t884\t8006\t2545712\nNet income\t0\t0\t\t\t0\t0\t\t0\t149020\t0\t3845\t152865\nOther comprehensive loss\t0\t0\t\t\t0\t0\t\t0\t0\t(13)\t0\t(13)\nExercise of stock options\t440075\t0\t\t\t7878\t0\t\t0\t0\t0\t0\t7878\nIssuance of restricted stock units net of shares withheld for tax(1)\t683255\t0\t\t\t(8655)\t0\t\t0\t0\t0\t0\t(8655)\nIssuance of equity in connection with business combinations including warrants\t28327290\t0\t\t\t787877\t0\t\t0\t0\t0\t0\t787877\nRepurchase of common stock\t(5436479)\t0\t\t\t\t5436479\t\t(90163)\t0\t0\t0\t(90163)\nStock compensation expense\t0\t0\t\t\t22154\t0\t\t0\t0\t0\t0\t22154\nStock compensation expense related to WLH acquisition\t0\t0\t\t\t5107\t0\t\t0\t0\t0\t0\t5107\nWLH equity award accelerations due to change in control\t0\t0\t\t\t8421\t0\t\t0\t0\t0\t0\t8421\nDistributions to non-controlling interests of consolidated joint ventures\t0\t0\t\t\t0\t0\t\t0\t0\t0\t(36301)\t(36301)\nChanges in non-controlling interests of consolidated joint ventures\t0\t0\t\t\t0\t0\t\t0\t0\t0\t147253\t147253\nBalance - September 30 2020\t129865426\t1\t\t\t2920777\t25379911\t\t(433687)\t931370\t871\t122803\t3542135\n", "q10k_tbl_8": "For the nine months ended September 30 2019\t\t\t\t\t\t\t\t\t\t\t\t\n\tCommon Stock\t\tAdditional Paid-in Capital\tTreasury Stock\t\t\tStockholders' Equity\t\t\t\n\tShares\tAmount\t\t\tAmount\tShares\t\tAmount\tRetained Earnings\tAccumulated Other Comprehensive Income\tNon-controlling Interest - Joint Venture\tTotal Stockholders' Equity\nBalance - December 31 2018\t112965856\t1\t\t\t2071579\t11554084\t\t(186087)\t527698\t2001\t3543\t2418735\nNet income\t0\t0\t\t\t0\t0\t\t0\t199994\t0\t211\t200205\nOther comprehensive income\t0\t\t\t\t0\t\t\t\t0\t284\t0\t284\nExercise of stock options\t754880\t0\t\t\t12746\t0\t\t0\t0\t0\t0\t12746\nIssuance of restricted stock units net of shares withheld for tax(1)\t495171\t0\t\t\t(1511)\t0\t\t0\t0\t0\t0\t(1511)\nRepurchase of common stock\t(8389348)\t0\t\t\t0\t8389348\t\t(157439)\t0\t0\t0\t(157439)\nStock compensation expense\t0\t0\t\t\t10936\t0\t\t0\t0\t0\t0\t10936\nDistributions to non-controlling interests of consolidated joint ventures\t0\t0\t\t\t0\t0\t\t0\t0\t0\t(35)\t(35)\nChanges in non-controlling interests of consolidated joint ventures\t0\t0\t\t\t0\t0\t\t0\t0\t0\t2057\t2057\nBalance - September 30 2019\t105826559\t1\t\t\t2093750\t19943432\t\t(343526)\t727692\t2285\t5776\t2485978\n", "q10k_tbl_9": "\tNine Months Ended September 30\t\n\t2020\t2019\nCASH FLOWS FROM OPERATING ACTIVITIES:\t\t\nNet income before allocation to non-controlling interests\t152865\t200205\nAdjustments to reconcile net income to net cash (used in)/provided by operating activities:\t\t\nEquity in income of unconsolidated entities\t(8878)\t(7983)\nStock compensation expense\t27260\t10936\nLoss on extinguishment of debt\t10247\t5806\nDistributions of earnings from unconsolidated entities\t9251\t8633\nDepreciation and amortization\t26939\t22087\nOperating lease expense\t12918\t6689\nDebt issuance costs/(premium) amortization\t(1970)\t325\nLand held for sale write-downs\t4347\t0\nDeferred income taxes\t11696\t524\nChanges in operating assets and liabilities:\t\t\nReal estate inventory and land deposits\t439842\t(244276)\nMortgages held for sale prepaid expenses and other assets\t20129\t45788\nCustomer deposits\t84475\t19543\nAccounts payable accrued expenses and other liabilities\t(31303)\t77502\nIncome taxes payable\t40211\t7598\nNet cash provided by operating activities\t798029\t153377\nCASH FLOWS FROM INVESTING ACTIVITIES:\t\t\nPurchase of property and equipment\t(25276)\t(18675)\nPayments for business acquisitions net of cash acquired\t(279048)\t0\nDistributions of capital from unconsolidated entities\t30853\t21694\nInvestments of capital into unconsolidated entities\t(24011)\t(10166)\nNet cash used in investing activities\t(297482)\t(7147)\nCASH FLOWS FROM FINANCING ACTIVITIES:\t\t\nIncrease in loans payable and other borrowings\t72848\t13909\nRepayments of loans payable and other borrowings\t(110177)\t(24664)\nBorrowings on revolving credit facility\t830000\t95000\nRepayments on revolving credit facility\t(545000)\t(95000)\nBorrowings on mortgage warehouse\t1750669\t752501\nRepayment on mortgage warehouse\t(1809252)\t(826803)\nProceeds from the issuance of senior notes\t500000\t950000\nRepayments on senior notes\t(861775)\t(963252)\nPayment of deferred financing costs\t(6202)\t(11802)\nProceeds from stock option exercises\t7877\t12746\nPayment of principle portion of finance lease\t(1325)\t0\nRepurchase of common stock net\t(90163)\t(157439)\nPayment of taxes related to net share settlement of equity awards\t(8654)\t(1511)\nChanges and (distributions to)/contributions to non-controlling interests of consolidated joint ventures net\t(8905)\t2022\nNet cash used in financing activities\t(280059)\t(254293)\nNET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS\t220488\t(108063)\nCASH CASH EQUIVALENTS AND RESTRICTED CASH - Beginning of period\t328572\t331859\nCASH CASH EQUIVALENTS AND RESTRICTED CASH - End of period\t549060\t223796\nSUPPLEMENTAL CASH FLOW INFORMATION:\t\t\nIncome taxes paid net\t(2490)\t(20605)\nSUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:\t\t\nChange in loans payable issued to sellers in connection with land purchase contracts\t136803\t84535\nChange in inventory not owned\t(86390)\t8444\nIssuance of common stock in connection with business acquisition\t797970\t0\nNet non-cash contributions from non-controlling interests\t5784\t0\nNon-cash portion of loss on debt extinguishment\t1723\t0\nBeginning operating lease right of use assets due to adoption of ASU 2016-02\t0\t27384\nBeginning operating lease right of use liabilities due to adoption of ASU 2016-02\t0\t30331\n", "q10k_tbl_10": "(Dollars in thousands)\t\nAcquisition Date\tFebruary 6 2020\nAssets acquired\t\nReal estate inventory\t2066902\nPrepaid expenses and other assets(1)\t264170\nDeferred tax assets net\t145213\nGoodwill(2)\t514074\nTotal assets\t2990359\nLess liabilities assumed\t\nAccrued expenses and other liabilities\t450711\nTotal debt(3)\t1306578\nNon-controlling interest\t116157\nNet assets acquired\t1116913\n", "q10k_tbl_11": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n(Dollars in thousands except per share data)\t2020 (Pro forma)\t2019 (Pro forma)\t2020 (Pro forma)\t2019 (Pro forma)\nTotal revenue\t1699434\t1571994\t4658916\t4683845\nNet income before allocation to non-controlling interests\t118579\t81165\t197708\t166559\nNet income attributable to non-controlling interests - joint ventures\t(422)\t(8054)\t(2958)\t(19235)\nNet income available to TMHC\t118157\t73111\t194750\t147324\nWeighted average shares - Basic\t130110\t134136\t131274\t135533\nWeighted average shares - Diluted\t131769\t135515\t132242\t136743\nEarnings per share - Basic\t0.91\t0.55\t1.48\t1.09\nEarnings per share - Diluted\t0.90\t0.54\t1.47\t1.08\n", "q10k_tbl_12": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nNumerator:\t\t\t\t\nNet income available to TMHC\t114777\t67012\t149020\t199994\nDenominator:\t\t\t\t\nWeighted average shares - basic\t129775\t105472\t127113\t107389\nRestricted stock units\t812\t938\t669\t912\nStock Options\t520\t442\t252\t298\nWarrants\t326\t0\t47\t0\nWeighted average shares - diluted\t131433\t106852\t128081\t108599\nEarnings per common share - basic:\t\t\t\t\nNet income available to Taylor Morrison Home Corporation\t0.88\t0.64\t1.17\t1.86\nEarnings per common share - diluted:\t\t\t\t\nNet income available to Taylor Morrison Home Corporation\t0.87\t0.63\t1.16\t1.84\n", "q10k_tbl_13": "\tAs of\t\n\tSeptember 30 2020\tDecember 31 2019\nReal estate developed and under development\t3873698\t2805506\nReal estate held for development or held for sale (1)\t171089\t146471\nOperating communities (2)\t1104646\t899789\nCapitalized interest\t150673\t115593\nTotal owned inventory\t5300106\t3967359\nReal estate not owned\t122776\t19185\nTotal real estate inventory\t5422882\t3986544\n", "q10k_tbl_14": "\tAs of\t\t\t\n\tSeptember 30 2020\t\tDecember 31 2019\t\n\tOwned Lots\tBook Value of Land and Development\tOwned Lots\tBook Value of Land and Development\nRaw(1)\t10598\t284326\t13804\t477997\nPartially developed\t21177\t1438211\t13298\t914689\nFinished\t21221\t2322250\t15504\t1559291\nTotal\t52996\t4044787\t42606\t2951977\n", "q10k_tbl_15": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nInterest capitalized - beginning of period\t143440\t111802\t115593\t96031\nInterest incurred\t41554\t29018\t122366\t85770\nInterest amortized to cost of home closings\t(34321)\t(22144)\t(87286)\t(63125)\nInterest capitalized - end of period\t150673\t118676\t150673\t118676\n", "q10k_tbl_16": "\tAs of\t\n\tSeptember 30 2020\tDecember 31 2019\nAssets:\t\t\nReal estate inventory\t323079\t367225\nOther assets\t152684\t132812\nTotal assets\t475763\t500037\nLiabilities and owners' equity:\t\t\nDebt\t184995\t178686\nOther liabilities\t21497\t20490\nTotal liabilities\t206492\t199176\nOwners' equity:\t\t\nTMHC\t125132\t128759\nOthers\t144139\t172102\nTotal owners' equity\t269271\t300861\nTotal liabilities and owners' equity\t475763\t500037\n", "q10k_tbl_17": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nRevenues\t38305\t68734\t133452\t228002\nCosts and expenses\t(29309)\t(59851)\t(107156)\t(197151)\nIncome of unconsolidated entities\t8996\t8883\t26296\t30851\nTMHC's share in income of unconsolidated entities\t2957\t2103\t8878\t7983\nDistributions to TMHC from unconsolidated entities\t11849\t8309\t40104\t30327\n", "q10k_tbl_18": "\tAs of September 30 2020\tAs of December 31 2019\nReal estate development costs to complete\t28356\t20598\nCompensation and employee benefits\t104394\t95585\nSelf-insurance and warranty reserves\t112566\t120048\nInterest payable\t36052\t23178\nProperty and sales taxes payable\t25353\t12537\nOther accruals\t91768\t53422\nTotal accrued expenses and other liabilities\t398489\t325368\n", "q10k_tbl_19": "\tThree Months Ended September 30\t\t\t\tNine Months Ended September 30\t\t\n2020\t\t2019\t\t2020\t\t2019\nReserve - beginning of period\t117462\t\t81111\t\t120048\t\t93790\nNet additions to reserves due to WLH acquisition\t0\t\t0\t\t9130\t\t0\nOther additions to reserves\t12268\t\t10114\t\t39011\t\t18809\nCost of claims incurred\t(19180)\t\t(18107)\t\t(61444)\t\t(43815)\nChanges in estimates to pre-existing reserves\t2016\t\t1141\t\t5821\t\t5475\nReserve - end of period\t112566\t\t74259\t\t112566\t\t74259\n", "q10k_tbl_20": "\tAs of\t\t\t\t\t\n\tSeptember 30 2020\t\t\tDecember 31 2019\t\t\n\tPrincipal\tUnamortized Debt Issuance (Costs)/Premium\tCarrying Value\tPrincipal\tUnamortized Debt Issuance Costs\tCarrying Value\n5.875% Senior Notes due 2023\t350000\t(1442)\t348558\t350000\t(1867)\t348133\n5.625% Senior Notes due 2024\t350000\t(1839)\t348161\t350000\t(2244)\t347756\n5.875% Senior Notes due 2027\t500000\t(5222)\t494778\t500000\t(5808)\t494192\n6.625% Senior Notes due 2027(1)\t300000\t21715\t321715\t0\t0\t0\n5.75% Senior Notes due 2028\t450000\t(4603)\t445397\t450000\t(5073)\t444927\n5.125% Senior Notes due 2030\t500000\t(6083)\t493917\t0\t0\t0\nSenior Notes subtotal\t2450000\t2526\t2452526\t1650000\t(14992)\t1635008\nLoans payable and other borrowings\t332953\t0\t332953\t182531\t0\t182531\nRevolving Credit Facility\t285000\t0\t285000\t0\t0\t0\nMortgage warehouse borrowings\t109593\t0\t109593\t123233\t0\t123233\nTotal debt\t3177546\t2526\t3180072\t1955764\t(14992)\t1940772\n", "q10k_tbl_21": "\tAs of September 30 2020\t\t\t\t\nFacility\tAmount Drawn\tFacility Amount\tInterest Rate(1)\tExpiration Date\tCollateral (2)\nWarehouse A\t40232\t55000\tLIBOR + 1.75%\tOn Demand\tMortgage Loans\nWarehouse B\t30238\t75000\tLIBOR + 2.50%\tOn Demand\tMortgage Loans\nWarehouse C\t23731\t75000\tLIBOR + 1.70%\tOn Demand\tMortgage Loans and Restricted Cash\nWarehouse D(3)\t15392\t80000\tLIBOR + 1.75%\tOn Demand\tMortgage Loans\nTotal\t109593\t285000\t\t\t\n\tAs of December 31 2019\t\t\t\t\nFacility\tAmount Drawn\tFacility Amount\tInterest Rate\tExpiration Date\tCollateral (2)\nWarehouse A\t25074\t45000\tLIBOR + 1.75%\tOn Demand\tMortgage Loans\nWarehouse B\t38481\t85000\tLIBOR + 1.75%\tOn Demand\tMortgage Loans\nWarehouse C\t59678\t100000\tLIBOR + 1.70%\tOn Demand\tMortgage Loans and Restricted Cash\nTotal\t123233\t230000\t\t\t\n", "q10k_tbl_22": "\t\tSeptember 30 2020\t\tDecember 31 2019\t\n(Dollars in thousands)\tLevel in Fair Value Hierarchy\tCarrying Value\tEstimated Fair Value\tCarrying Value\tEstimated Fair Value\nDescription:\t\t\t\t\t\nMortgage loans held for sale\t2\t172501\t172501\t190880\t190880\nDerivative assets net\t2\t6708\t6708\t1932\t1932\nMortgage warehouse borrowings\t2\t109593\t109593\t123233\t123233\nLoans payable and other borrowings\t2\t332953\t332953\t182531\t182531\n5.875% Senior Notes due 2023 (1)\t2\t348558\t367500\t348133\t378669\n5.625% Senior Notes due 2024 (1)\t2\t348161\t372750\t347756\t379453\n5.875% Senior Notes due 2027 (1)\t2\t494778\t550000\t494192\t548870\n6.625% Senior Notes due 2027 (1)\t2\t321715\t321600\t0\t0\n5.75% Senior Notes due 2028(1)\t2\t445397\t489375\t444927\t491913\n5.125% Senior Notes due 2030(1)\t2\t493917\t532500\t0\t0\nRevolving Credit Facility\t2\t285000\t285000\t0\t0\n", "q10k_tbl_23": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(Dollars in thousands)\t2020\t2019\t2020\t2019\nAmount available for repurchase - beginning of period\t9837\t0\t0\t57437\nAdditional amount authorized for repurchase\t0\t0\t100000\t100000\nAmount repurchased\t0\t0\t(90163)\t(157437)\nAmount available for repurchase - end of period\t9837\t0\t9837\t0\n", "q10k_tbl_24": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nRestricted stock units (1) (2)\t4273\t2747\t15980\t8105\nStock options\t999\t946\t6174\t2831\nTotal stock compensation\t5272\t3693\t22154\t10936\n", "q10k_tbl_25": "\tUnits\tWeighted Average Grant Date Fair Value\nBalance at December 31 2019\t1708393\t19.06\nGranted\t724370\t24.32\nVested\t(632464)\t17.34\nForfeited (1)\t(43230)\t16.29\nBalance at September 30 2020(2)\t1757069\t22.04\n", "q10k_tbl_26": "\tUnits\tWeighted Average Exercise Price Per Share\nOutstanding at December 31 2019\t3339244\t18.98\nGranted(1)\t828253\t21.95\nExercised(2)\t(372021)\t17.43\nCanceled/Forfeited(1)\t(96817)\t18.84\nOutstanding at September 30 2020(2)\t3698659\t19.81\nOptions exercisable at September 30 2020(2)\t1803042\t18.78\n", "q10k_tbl_27": "\tNine Months Ended September 30\t\nTotal Post-Retirement Benefits Adjustments:\t2020\t2019\t\t\t\t\t\t\t\t\t\t\t\t\nBalance beginning of period\t884\t2001\t\t\t\t\t\t\t\t\t\t\t\t\nOther comprehensive income net of tax\t(13)\t284\t\t\t\t\t\t\t\t\t\t\t\t\nBalance end of period\t871\t2285\t\t\t\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_28": "\tThree Months Ended September 30 2020\t\t\t\t\t\n\tEast\tCentral\tWest\tFinancial Services\tCorporate and Unallocated(1)\tTotal\nTotal revenues\t507541\t426275\t718167\t47451\t0\t1699434\nGross margin\t90018\t87352\t107075\t25244\t0\t309689\nSelling general and administrative expenses\t(41450)\t(33181)\t(45525)\t0\t(27011)\t(147167)\nEquity in (loss)/income of unconsolidated entities\t0\t(5)\t325\t2637\t0\t2957\nInterest and other expense net (2)\t(194)\t(359)\t(2880)\t(1442)\t(1399)\t(6274)\nLoss on extinguishment of debt net\t0\t0\t0\t0\t(10247)\t(10247)\nIncome/(loss) before income taxes\t48374\t53807\t58995\t26439\t(38657)\t148958\n", "q10k_tbl_29": "\tThree Months Ended September 30 2019\t\t\t\t\t\n\tEast\tCentral\tWest\tFinancial Services\tCorporate and Unallocated\tTotal\nTotal revenues\t439498\t313643\t328710\t23254\t0\t1105105\nGross margin\t74368\t58021\t68260\t10425\t0\t211074\nSelling general and administrative expenses\t(39560)\t(29918)\t(23366)\t0\t(26255)\t(119099)\nEquity in (loss)/income of unconsolidated entities\t0\t(50)\t1215\t939\t(1)\t2103\nInterest and other (expense)/income net\t(531)\t(159)\t63\t0\t(3030)\t(3657)\nIncome/(loss) before income taxes\t34277\t27894\t46172\t11364\t(29286)\t90421\n", "q10k_tbl_30": "\tNine Months Ended September 30 2020\t\t\t\t\t\n\tEast\tCentral\tWest\tFinancial Services\tCorporate and Unallocated(1)\tTotal\nTotal revenues\t1405556\t1280479\t1745279\t115787\t24717\t4571818\nGross margin\t226771\t234723\t240864\t50137\t(872)\t751623\nSelling general and administrative expenses\t(118249)\t(101405)\t(121337)\t0\t(88179)\t(429170)\nEquity in (loss)/income of unconsolidated entities\t0\t(166)\t899\t8164\t(19)\t8878\nInterest and other expense net (2)\t(308)\t(4230)\t(16170)\t(8880)\t(86469)\t(116057)\nLoss on extinguishment of debt\t0\t0\t0\t0\t(10247)\t(10247)\nIncome/(loss) before income taxes\t108214\t128922\t104256\t49421\t(185786)\t205027\n", "q10k_tbl_31": "\tNine Months Ended September 30 2019\t\t\t\t\t\n\tEast\tCentral\tWest\tFinancial Services\tCorporate and Unallocated\tTotal\nTotal revenues\t1279826\t931592\t1022088\t62117\t0\t3295623\nGross margin\t212693\t163015\t215658\t25522\t0\t616888\nSelling general and administrative expenses\t(116579)\t(87478)\t(68906)\t0\t(74836)\t(347799)\nEquity in (loss)/income of unconsolidated entities\t0\t(220)\t3771\t4274\t158\t7983\nInterest and other expense net\t(4066)\t(715)\t(148)\t0\t(3631)\t(8560)\nIncome/(loss) before income taxes\t92048\t74602\t150375\t29796\t(78309)\t268512\n", "q10k_tbl_32": "\tAs of September 30 2020\t\t\t\t\t\n\tEast\tCentral\tWest\tFinancial Services\tCorporate and Unallocated(1)\tTotal\nReal estate inventory and land deposits\t1761739\t1179559\t2619723\t0\t21\t5561042\nInvestments in unconsolidated entities\t0\t47338\t73307\t4477\t10\t125132\nOther assets\t157634\t189543\t598127\t261045\t941925\t2148274\nTotal assets\t1919373\t1416440\t3291157\t265522\t941956\t7834448\n", "q10k_tbl_33": "\tAs of December 31 2019\t\t\t\t\t\n\tEast\tCentral\tWest\tFinancial Services\tCorporate and Unallocated\tTotal\nReal estate inventory and land deposits\t1841904\t965039\t1219411\t0\t0\t4026354\nInvestments in unconsolidated entities\t0\t37506\t86996\t4015\t242\t128759\nOther assets\t165777\t121724\t60060\t257760\t485252\t1090573\nTotal assets\t2007681\t1124269\t1366467\t261775\t485494\t5245686\n", "q10k_tbl_34": "\tAs of\t\t\t\n\tSeptember 30 2020\t\tDecember 31 2019\t\n(Dollars in thousands)\tFair Value\tNotional Amount\tFair Value\tNotional Amount\nIRLCs\t6800\t305170\t2099\t86434\nMBSs(1)\t(92)\t460000\t(167)\t158000\nTotal\t6708\t\t1932\t\n", "q10k_tbl_35": "\tThree Months Ended September 30 2020\t\tNine Months Ended September 30\t\n(Dollars in thousands)\t2020\t2019\t2020\t2019\nStatements of Operations Data:\t\t\t\t\nHome closings revenue net\t1640584\t1073110\t4376218\t3205252\nLand closings revenue\t6756\t4420\t40241\t14391\nFinancial services revenue\t47451\t23254\t115787\t62117\nAmenity and other revenue\t4643\t4321\t39572\t13863\nTotal revenue\t1699434\t1105105\t4571818\t3295623\nCost of home closings\t1358196\t874102\t3672923\t2619968\nCost of land closings\t5217\t2934\t42636\t9418\nFinancial services expenses\t22207\t12829\t65650\t36595\nAmenity and other expenses\t4125\t4166\t38986\t12754\nGross margin\t309689\t211074\t751623\t616888\nSales commissions and other marketing costs\t102015\t76765\t282380\t226809\nGeneral and administrative expenses\t45152\t42334\t146790\t120990\nEquity in income of unconsolidated entities\t(2957)\t(2103)\t(8878)\t(7983)\nInterest income net\t(347)\t(959)\t(1244)\t(2250)\nOther expense/(income) net\t1830\t389\t7424\t(1492)\nTransaction expenses\t4791\t617\t109877\t6496\nLoss on extinguishment of debt net\t10247\t3610\t10247\t5806\nIncome before income taxes\t148958\t90421\t205027\t268512\nIncome tax provision\t33759\t23385\t52162\t68307\nNet income before allocation to non-controlling interests\t115199\t67036\t152865\t200205\nNet income attributable to non-controlling interests - joint ventures\t(422)\t(24)\t(3845)\t(211)\nNet income available to Taylor Morrison Home Corporation\t114777\t67012\t149020\t199994\nHome closings gross margin\t17.2%\t18.5%\t16.1%\t18.3%\nSales commissions and other marketing costs as a percentage of home closings revenue net\t6.2%\t7.2%\t6.5%\t7.1%\nGeneral and administrative expenses as a percentage of home closings revenue net\t2.8%\t3.9%\t3.4%\t3.8%\n", "q10k_tbl_36": "Adjusted Net Income and Adjusted Earnings Per Share\t\t\n\tThree Months Ended September 30\t\n(Dollars in thousands except per share data)\t2020\t2019\nNet income available to TMHC\t114777\t67012\nWilliam Lyon Homes related purchase accounting adjustments\t8913\t0\nTransaction expenses\t4791\t617\nLoss on extinguishment of debt net\t10247\t3610\nTax impact due to Transaction expenses and Loss on extinguishment of debt\t(5810)\t(1095)\nAdjusted net income\t132918\t70144\nBasic weighted average shares\t129775\t105472\nAdjusted earnings per common share - Basic\t1.02\t0.67\nAdjusted diluted weighted average shares\t131433\t106852\nAdjusted earnings per common share - Diluted\t1.01\t0.66\n", "q10k_tbl_37": "Adjusted Income Before Income Taxes and Related Margin\t\t\n\tThree Months Ended September 30\t\n(Dollars in thousands)\t2020\t2019\nIncome before income taxes\t148958\t90421\nWilliam Lyon Homes related purchase accounting adjustments\t8913\t0\nTransaction expenses\t4791\t617\nLoss on extinguishment of debt net\t10247\t3610\nAdjusted income before income taxes\t172909\t94648\nTotal revenues\t1699434\t1105105\nIncome before income taxes margin\t8.8%\t8.2%\nAdjusted income before income taxes margin\t10.2%\t8.6%\n", "q10k_tbl_38": "Adjusted Home Closings Gross Margin\t\t\n\tThree Months Ended September 30\t\n(Dollars in thousands)\t2020\t2019\nHome closings revenue\t1640584\t1073110\nCost of home closings\t1358196\t874102\nHome closings gross margin\t282388\t199008\nWilliam Lyon Homes homebuilding related purchase accounting adjustments\t8913\t0\nAdjusted home closings gross margin\t291301\t199008\nHome closings gross margin as a percentage of home closings revenue\t17.2%\t18.5%\nAdjusted home closings gross margin as a percentage of home closings revenue\t17.8%\t18.5%\n", "q10k_tbl_39": "EBITDA and Adjusted EBITDA Reconciliation\t\t\n\tThree Months Ended September 30\t\n(Dollars in thousands)\t2020\t2019\nNet income before allocation to non-controlling interests\t115199\t67036\nInterest income net\t(347)\t(959)\nAmortization of capitalized interest\t34321\t22144\nIncome tax provision\t33759\t23385\nDepreciation and amortization\t1714\t1262\nEBITDA\t184646\t112868\nNon-cash compensation expense\t5272\t3693\nWilliam Lyon Homes related purchase accounting adjustments\t8913\t0\nTransaction expenses\t4791\t617\nLoss on extinguishment of debt net\t10247\t3610\nAdjusted EBITDA\t213869\t120788\nTotal revenues\t1699434\t1105105\nEBITDA as a percentage of total revenues\t10.9%\t10.2%\nAdjusted EBITDA as a percentage of total revenues\t12.6%\t10.9%\n", "q10k_tbl_40": "Net Homebuilding Debt to Capitalization Ratio Reconciliation\t\t\n(Dollars in thousands)\tAs of September 30 2020\tAs of June 30 2020\nTotal debt\t3180072\t3769740\nLess unamortized debt issuance premiums net\t2526\t23832\nLess mortgage warehouse borrowings\t109593\t149784\nTotal homebuilding debt\t3067953\t3596124\nLess cash and cash equivalents\t547916\t674685\nNet homebuilding debt\t2520037\t2921439\nTotal equity\t3542135\t3424740\nTotal capitalization\t6062172\t6346179\nNet homebuilding debt to capitalization ratio\t41.6%\t46.0%\n", "q10k_tbl_41": "\tThree Months Ended September 30\t\t\n\t2020\t2019\tChange\nEast\t145\t153\t(5.2)%\nCentral\t122\t135\t(9.6)\nWest\t126\t58\t117.2\nTotal\t393\t346\t13.6%\n", "q10k_tbl_42": "\tNine Months Ended September 30\t\t\n\t2020\t2019\tChange\nEast\t146\t162\t(9.9)%\nCentral\t130\t138\t(5.8)\nWest\t116\t59\t96.6\nTotal\t392\t359\t9.2%\n", "q10k_tbl_43": "\tThree Months Ended September 30\t\t\t\t\t\t\t\t\n\tNet Sales Orders (1)\t\t\tSales Value (1)\t\t\tAverage Selling Price\t\t\n(Dollars in thousands)\t2020\t2019\tChange\t2020\t2019\tChange\t2020\t2019\tChange\nEast\t1548\t1161\t33.3%\t682744\t463201\t47.4%\t441\t399\t10.5%\nCentral\t1133\t759\t49.3\t537265\t360413\t49.1\t474\t475\t(0.2)\nWest\t1744\t620\t181.3\t946439\t331133\t185.8\t543\t534\t1.7\nTotal\t4425\t2540\t74.2%\t2166448\t1154747\t87.6%\t490\t455\t7.7%\n", "q10k_tbl_44": "\tNine Months Ended September 30\t\t\t\t\t\t\t\t\n\tNet Sales Orders (1)\t\t\tSales Value (1)\t\t\tAverage Selling Price\t\t\n(Dollars in thousands)\t2020\t2019\tChange\t2020\t2019\tChange\t2020\t2019\tChange\nEast\t4085\t3611\t13.1%\t1728989\t1469468\t17.7%\t423\t407\t3.9%\nCentral\t3042\t2380\t27.8\t1398896\t1129506\t23.9\t460\t475\t(3.2)\nWest\t4217\t1974\t113.6\t2221838\t1061312\t109.3\t527\t538\t(2.0)\nTotal\t11344\t7965\t42.4%\t5349723\t3660286\t46.2%\t472\t460\t2.6%\n", "q10k_tbl_45": "\tCancellation Rate(1)\t\t\t\n\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nEast\t8.1%\t10.9%\t11.7%\t11.6%\nCentral\t12.1%\t13.8%\t16.3%\t12.8%\nWest\t9.4%\t11.0%\t13.9%\t13.3%\nTotal Company\t9.7%\t11.8%\t13.8%\t12.4%\n", "q10k_tbl_46": "\tAs of September 30\t\t\t\t\t\t\t\t\n\tSold Homes in Backlog (1)\t\t\tSales Value\t\t\tAverage Selling Price\t\t\n(Dollars in thousands)\t2020\t2019\tChange\t2020\t2019\tChange\t2020\t2019\tChange\nEast\t2603\t2186\t19.1%\t1158391\t935273\t23.9%\t445\t428\t4.0%\nCentral\t2331\t1856\t25.6\t1119626\t936889\t19.5\t480\t505\t(5.0)\nWest\t2827\t1253\t125.6\t1474011\t662440\t122.5\t521\t529\t(1.5)\nTotal\t7761\t5295\t46.6%\t3752028\t2534602\t48.0%\t483\t479\t0.8%\n", "q10k_tbl_47": "\tThree Months Ended September 30\t\t\t\t\t\t\t\t\n\tHomes Closed\t\t\tHome Closings Revenue Net\t\t\tAverage Selling Price\t\t\n(Dollars in thousands)\t2020\t2019\tChange\t2020\t2019\tChange\t2020\t2019\tChange\nEast\t1216\t1029\t18.2%\t499212\t434446\t14.9%\t411\t422\t(2.6)%\nCentral\t913\t653\t39.8\t423642\t309954\t36.7\t464\t475\t(2.3)\nWest\t1340\t614\t118.2\t717730\t328710\t118.3\t536\t535\t0.2\nTotal\t3469\t2296\t51.1%\t1640584\t1073110\t52.9%\t473\t467\t1.3%\n", "q10k_tbl_48": "\tNine Months Ended September 30\t\t\t\t\t\t\t\t\n\tHomes Closed\t\t\tHome Closings Revenue Net\t\t\tAverage Selling Price\t\t\n(Dollars in thousands)\t2020\t2019\tChange\t2020\t2019\tChange\t2020\t2019\tChange\nEast\t3298\t3063\t7.7%\t1362082\t1258758\t8.2%\t413\t411\t0.5%\nCentral\t2791\t1944\t43.6\t1270215\t924411\t37.4\t455\t476\t(4.4)\nWest\t3353\t1821\t84.1\t1743921\t1022083\t70.6\t520\t561\t(7.3)\nTotal\t9442\t6828\t38.3%\t4376218\t3205252\t36.5%\t463\t469\t(1.3)%\n", "q10k_tbl_49": "\tThree Months Ended September 30\t\t\n(Dollars in thousands)\t2020\t2019\tChange\nEast\t4123\t731\t3392\nCentral\t2633\t3689\t(1056)\nWest\t0\t0\t0\nTotal\t6756\t4420\t2336\n", "q10k_tbl_50": "\tNine Months Ended September 30\t\t\t\n(Dollars in thousands)\t2020\t\t2019\tChange\nEast\t29977\tC\t7205\t22772\nCentral\t10264\t\t7181\t3083\nWest\t0\t\t5\t(5)\nTotal\t40241\t\t14391\t25850\n", "q10k_tbl_51": "\tThree Months Ended September 30\t\t\n(Dollars in thousands)\t2020\t2019\tChange\nEast\t4206\t4321\t(115)\nCentral\t0\t0\t0\nWest\t437\t0\t437\nCorporate\t0\t0\t0\nTotal\t4643\t4321\t322\n", "q10k_tbl_52": "\tNine Months Ended September 30\t\t\t\n(Dollars in thousands)\t2020\t\t2019\tChange\nEast\t13497\tC\t13863\t(366)\nCentral\t0\t\t0\t0\nWest\t1358\t\t0\t1358\nCorporate\t24717\t\t0\t24717\nTotal\t39572\t\t13863\t25709\n", "q10k_tbl_53": "\tThree Months Ended September 30\t\t\t\t\t\t\t\n\tEast\t\tCentral\t\tWest\t\tConsolidated\t\n(Dollars in thousands)\t2020\t2019\t2020\t2019\t2020\t2019\t2020\t2019\nHome closings revenue net\t499213\t434446\t423641\t309954\t717730\t328710\t1640584\t1073110\nCost of home closings\t410248\t360071\t337222\t253581\t610726\t260450\t1358196\t874102\nHome closings gross margin\t88965\t74375\t86419\t56373\t107004\t68260\t282388\t199008\nPurchase accounting adjustment\t0\t0\t3027\t0\t5886\t0\t8913\t0\nAdjusted home closings gross margin\t88965\t74375\t89446\t56373\t112890\t68260\t291301\t199008\nHome closings gross margin %\t17.8%\t17.1%\t20.4%\t18.2%\t14.9%\t20.8%\t17.2%\t18.5%\nAdjusted home closings gross margin %\t17.8%\t17.1%\t21.1%\t18.2%\t15.7%\t20.8%\t17.8%\t18.5%\n\tNine Months Ended September 30\t\t\t\t\t\t\t\n\tEast\t\tCentral\t\tWest\t\tConsolidated\t\n(Dollars in thousands)\t2020\t2019\t2020\t2019\t2020\t2019\t2020\t2019\nHome closings revenue net\t1362082\t1258758\t1270215\t924411\t1743921\t1022083\t4376218\t3205252\nCost of home closings\t1133448\t1048841\t1036691\t764699\t1502784\t806428\t3672923\t2619968\nHome closings gross margin\t228634\t209917\t233524\t159712\t241137\t215655\t703295\t585284\nPurchase accounting adjustment\t0\t0\t25440\t0\t43978\t0\t69418\t0\nAdjusted home closings gross margin\t228634\t209917\t258964\t159712\t285115\t215655\t772713\t585284\nHome closings gross margin %\t16.8%\t16.7%\t18.4%\t17.3%\t13.8%\t21.1%\t16.1%\t18.3%\nAdjusted home closings gross margin %\t16.8%\t16.7%\t20.4%\t17.3%\t16.3%\t21.1%\t17.7%\t18.3%\n", "q10k_tbl_54": "\tThree Months Ended September 30\t\t\tNine Months Ended September 30\t\t\n($ In thousands)\t\t2020\t2019\tChange\t2020\t2019\t\t\t\tChange\t\t\nFinancial services revenue\t\t40341\t18904\t113.4%\t97158\t50632\t\t\t\t91.9%\t\t\nTitle services revenue\t\t5789\t3170\t82.6\t14780\t8596\t\t\t\t71.9\t\t\nFinancial services revenue - other\t\t1321\t1180\t11.9\t3849\t2889\t\t\t\t33.2\t\t\nTotal financial services revenue\t\t47451\t23254\t104.1%\t115787\t62117\t\t\t\t86.4%\t\t\nFinancial services equity in income of unconsolidated entities\t\t2637\t939\t180.8\t8164\t4274\t\t\t\t91.0%\t\t\nTotal revenue\t\t50088\t24193\t107.0\t123951\t66391\t\t\t\t86.7\t\t\nFinancial services expenses\t\t22207\t12829\t73.1\t65650\t36595\t\t\t\t79.4\t\t\nFinancial services transaction expenses\t\t1442\t0\t0\t8880\t0\t\t\t\t0\t\t\nFinancial services income before income taxes\t\t26439\t11364\t132.7%\t49421\t29796\t\t\t\t65.9\t\t\nTotal originations:\t\t\t\t\t\t\t\t\t\t\t\t\nNumber of Loans\t\t2355\t1372\t71.6%\t6136\t3663\t\t\t\t67.5%\t\t\nPrincipal\t\t843744\t474332\t77.9%\t2107622\t1279905\t\t\t\t64.7%\t\t\n", "q10k_tbl_55": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n\t2020\t2019\t2020\t2019\nSupplemental data:\t\t\t\t\nAverage FICO score\t753\t748\t751\t749\nFunded origination breakdown:\t\t\t\t\nGovernment (FHAVAUSDA)\t17%\t15%\t16%\t14%\nOther agency\t80%\t73%\t79%\t72%\nTotal agency\t97%\t88%\t95%\t86%\nNon-agency\t3%\t12%\t5%\t14%\nTotal funded originations\t100%\t100%\t100%\t100%\n", "q10k_tbl_56": "\tAs of\t\n(Dollars in thousands)\tSeptember 30 2020\tDecember 31 2019\nCash excluding restricted cash\t547916\t326437\nRevolving credit facility\t800000\t600000\nLetters of credit outstanding\t(71898)\t(77719)\nRevolving credit facility borrowings outstanding (1)\t(285000)\t0\nRevolving credit facility availability\t443102\t522281\nTotal liquidity\t991018\t848718\n", "q10k_tbl_57": "\tExpected Maturity Date\t\t\t\t\t\t\tFair Value\n(In millions except percentage data)\t2020\t2021\t2022\t2023\t2024\tThereafter\tTotal\nFixed Rate Debt\t39.6\t121.3\t82.8\t404.0\t360.7\t1774.6\t2783.0\t2966.7\nWeighted average interest rate(1)\t2.9%\t2.9%\t2.9%\t5.4%\t5.7%\t5.7%\t5.4%\t\nVariable Rate Debt(2)(3)\t394.6\t0\t0\t0\t0\t0\t394.6\t394.6\nWeighted average interest rate\t2.6%\t0\t0\t0\t0\t0\t2.6%\t\n", "q10k_tbl_58": "Exhibit No.\tDescription\n2.1†^\tAgreement and Plan of Merger dated June 7 2018 by and among Taylor Morrison Home Corporation Taylor Morrison Communities Inc. Thor Merger Sub Inc. and AV Homes Inc. (incorporated by reference to Exhibit 2.1 to the Company's Current Report on Form 8-K filed on June 7 2018).\n2.2\tAgreement and Plan of Merger dated as of October 26 2018 by and among Taylor Morrison Home Corporation Taylor Morrison Home II Corporation and Second Half 2018 Mergerco Inc. (incorporated by reference to Exhibit 2.1 to the Company's Current Report on Form 8-K filed on October 26 2018).\n2.3†^\tAgreement and Plan of Merger dated November 5 2019 by and among Taylor Morrison Home Corporation Tower Merger Sub Inc. and William Lyon Homes (incorporated by reference to Exhibit 2.1 to the Company's Registration Statement on Form S-4 (File No. 333-235410)).\n3.1\tAmended and Restated Certificate of Incorporation. (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K filed on May 30 2019).\n3.2\tAmended and Restated By-laws. (incorporated herein by reference to Exhibit 3.2 to the Company's Current Report on Form 8-K filed on October 26 2018).\n3.3\tAmendment to the Amended and Restated By-laws. (incorporated by reference to Exhibit 3.4 to the Company's Current Report on Form 8-K filed on October 26 2018).\n4.1*\tIndenture dated as of July 22 2020 relating to Taylor Morrison Communities Inc.'s 5.125% Senior Notes Due 2030 by and among Taylor Morrison Communities Inc. the guarantors party thereto and U.S. Bank National Association as trustee.\n31.1*\tCertification of Sheryl D. Palmer Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n31.2*\tCertification of C. David Cone Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.\n32.1**\tCertification of Sheryl D. Palmer Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n32.2**\tCertification of C. David Cone Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.\n101.INS*\tInline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document\n101.SCH*\tInline XBRL Taxonomy Extension Schema Document.\n101.CAL*\tInline XBRL Taxonomy Extension Calculation Linkbase Document.\n101.DEF*\tInline XBRL Taxonomy Extension Definition Linkbase Document.\n101.LAB*\tInline XBRL Taxonomy Extension Label Linkbase Document.\n101.PRE*\tInline XBRL Taxonomy Extension Presentation Linkbase Document.\n104.1*\tCover page from the Company's Quarterly Report on Form 10-Q for the quarter ended June 30 2020 formatted in inline XBRL (and contained in Exhibit 101).\n"}{"bs": "q10k_tbl_2", "is": "q10k_tbl_3", "cf": "q10k_tbl_9"}None
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2020
OR
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission File Number: 001-35873
TAYLOR MORRISON HOME CORPORATION
(Exact name of registrant as specified in its Charter)
Delaware
83-2026677
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
4900 N. Scottsdale Road, Suite 2000
85251
Scottsdale,
Arizona
(Address of principal executive offices)
(Zip Code)
(480) 840-8100
(Registrant’s telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.00001 par value
TMHC
New York Stock Exchange
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yesý No ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yesý No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer
☒
Accelerated filer
☐
Non-accelerated filer
¨
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act. ¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ý
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.