Cover	12 Months Ended
Cover	Dec. 31, 2023
Document Information [Line Items]
Document Type	DEF 14A
Amendment Flag	false
Entity Information [Line Items]
Entity Registrant Name	M/I Homes, Inc.
Entity Central Index Key	0000799292

Pay vs Performance Disclosure - USD ($)

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

PAY VERSUS PERFORMANCE


Year	Summary Compensation Table Total for PEO ($) (1)		Compensation Actually Paid to PEO ($) (2)		Average Summary Compensation Table Total for Non-PEO Named Executive Officers ($) (3)		Average Compensation Actually Paid to Non-PEO Named Executive Officers ($) (4)		Value of Initial Fixed $100 Investment Based On:				Net Income (in millions) ($) (6)		Adjusted Pre-Tax Income (in millions) ($) (7)
Year	Summary Compensation Table Total for PEO ($) (1)		Compensation Actually Paid to PEO ($) (2)						Total Shareholder Return ($)		Peer Group Total Shareholder Return ($) (5)		Net Income (in millions) ($) (6)		Adjusted Pre-Tax Income (in millions) ($) (7)
2023		9,208,595		43,391,100		3,292,874		14,239,549		350.04		263.07		465.4		617.9
2022		8,207,473		4,791,541		2,981,956		1,998,482		117.36		151.13		490.7		643.4
2021		7,427,795		13,186,658		1,942,429		3,329,440		158.02		187.16		396.9		516.3
2020		6,882,675		8,732,502		2,889,120		3,786,386		112.55		124.48		239.9		319.3

(1)	Robert H. Schottenstein was our Chief Executive Officer for each year shown. The amounts shown reflect the amounts of total compensation reported for Mr. Schottenstein for each corresponding year in the “Total” column of the Summary Compensation Table.

(2)

The amounts shown reflect the amounts of “compensation actually paid” to Mr. Schottenstein as computed in accordance with Item 402(v) of Regulation

S-K.

The amounts do not reflect the actual amount of compensation earned by or paid to Mr. Schottenstein during the applicable year. In accordance with Item 402(v) of Regulation

S-K,

the following adjustments were made to the total compensation reported for Mr. Schottenstein for the “Total” column of the Summary Compensation Table for 2023:


Year	Reported Summary Compensation Table Total for PEO ($)		Reported Value of Equity Awards ($) (a)			Equity Award Adjustments ($) (b)		Compensation Actually Paid to PEO ($)
2023		9,208,595		(3,979,872	)		38,162,377		43,391,100

(a)

The amount shown reflects the sum of the amounts reported for Mr. Schottenstein in the “Stock Awards” and “Option Awards” columns of the Summary Compensation Table for 2023.

(b)

The amount shown reflects the addition or subtraction, as applicable, of the following: (i) the fair value as of the end of 2023 of the equity awards that we granted to Mr. Schottenstein during 2023 that were unvested and outstanding as of the end of 2023; (ii) the change (positive or negative) in the fair value as of the end of 2023 from the end of 2022 of any equity awards that we granted to Mr. Schottenstein in prior years that were unvested and outstanding as of the end of 2023; and (iii) the change (positive or negative) in the fair value as of the vesting date from the end of 2022 of any equity awards that we granted to Mr. Schottenstein in prior years that vested during 2023. The amounts added or subtracted in calculating the equity award adjustments for 2023 are as follows:


Year	Year End Fair Value of Equity Awards ($)		Year over Year Change in Fair Value of Unvested and Outstanding Equity Awards ($)		Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($)		Total Equity Award Adjustments ($)
2023		13,644,845		23,663,447		854,085		38,162,377

(3)

During 2023 and 2022, our other Named Executive Officers consisted of Phillip G. Creek and Susan E. Krohne. During 2021, our other Named Executive Officers consisted of Mr. Creek, Ms. Krohne and J. Thomas Mason. During 2020, our other Named Executive Officers consisted of Mr. Creek and Mr. Mason. The amounts shown reflect the average of the amounts of total compensation reported for our other Named Executive Officers for each corresponding year in the “Total” column of the Summary Compensation Table.

(4)

The amounts shown reflect the average amount of “compensation actually paid” to our other Named Executive Officers as computed in accordance with Item 402(v) of Regulation

S-K.

The amounts do not reflect the average of the actual amount of compensation earned by or paid to the other Named Executive Officers during the applicable year. In accordance with Item 402(v) of Regulation

S-K,

the following adjustments were made to the average total compensation reported for our other Named Executive Officers for the “Total” column of the Summary Compensation Table for 2023:


Year	Average Reported Summary Compensation Table Total for Non-PEO NEOs ($)		Average Reported Value of Equity Awards for Non- PEO NEOs ($) (a)			Average Equity Award Adjustments for Non- PEO NEOs ($) (b)		Average Compensation Actually Paid to Non-PEO NEOs ($) (d)
2023		3,292,874		(1,323,474	)		12,270,149		14,239,549

(a)

The amount shown reflects the average of the sum of the amounts reported for our other Named Executive Officers in the “Stock Awards” and “Option Awards” columns of the Summary Compensation Table for 2023.

(b)

The amount shown reflects the addition or subtraction, as applicable, of the following: (i) the average fair value as of the end of 2023 of the equity awards that we granted to our other Named Executive Officers during 2023 that were unvested and outstanding as of the end of 2023; (ii) the average change (positive or negative) in the fair value as of the end of 2023 from the end of 2022 of any equity awards that we granted to our other Named Executive Officers in prior years that were unvested and outstanding as of the end of 2023; and (iii) the average change (positive or negative) in the fair value as of the vesting date from the end of 2022 of any equity awards that we granted to our other Named Executive Officers in prior years that vested during 2023. The amounts added or subtracted in calculating the equity award adjustments for 2023 are as follows:


Year	Average Year End Fair Value of Equity Awards ($)		Average Year over Year Change in Fair Value of Unvested and Outstanding Equity Awards ($)		Average Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($)		Total Equity Award Adjustments ($)
2023		4,578,073		7,403,512		288,564		12,270,149

(5)

The peer group used for this purpose is the Standard & Poor’s 500 Homebuilding Index, which is the same index that we use in our 2023 Form

10-K.

The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the Standard & Poor’s 500 Homebuilding Index, respectively.

(6)	The amounts shown reflect the net income reported in the Company’s audited financial statements for the corresponding year.

(7)

Adjusted

Pre-Tax

Income, which is a

non-GAAP

measure, means the Company’s

pre-tax

income from operations, excluding extraordinary items, such as asset impairments and certain other

non-cash

write-offs. For 2020, Adjusted

Pre-Tax

Income was equal to the sum of (a) income before income taxes, (b) impairment of inventory and investment in joint venture arrangements and (c) stucco-related charges, net of recoveries, included in “Costs and expenses: Land and housing;” for 2021, Adjusted

Pre-Tax

Income was equal to (a) the sum of (i) income before income taxes and (ii) loss on early extinguishment of debt less (b) a

one-time

gain included in “Other income”; for 2022, Adjusted

Pre-Tax

Income was equal to the sum of (a) income before income taxes and (b) asset impairment charges; and for 2023, Adjusted

Pre-Tax

Income was equal to the sum of (a) income before income taxes and (b) asset impairment charges, in each case as reflected in our audited consolidated statements of income included in our 2023 Form

10-K.

Adjusted

Pre-Tax

Income represents the most important performance measure used by the Company to link the compensation actually paid to the Company’s Named Executive Officers to Company performance for 2023. We may determine a different financial performance measure to be the most important financial performance measure in future years.

Company Selected Measure Name

Adjusted Pre-Tax Income

Named Executive Officers, Footnote

Peer Group Issuers, Footnote

The peer group used for this purpose is the Standard & Poor’s 500 Homebuilding Index, which is the same index that we use in our 2023 Form

10-K.

PEO Total Compensation Amount

$ 9,208,595

$ 8,207,473

$ 7,427,795

$ 6,882,675

PEO Actually Paid Compensation Amount

$ 43,391,100

4,791,541

13,186,658

8,732,502

Adjustment To PEO Compensation, Footnote

(2)

The amounts shown reflect the amounts of “compensation actually paid” to Mr. Schottenstein as computed in accordance with Item 402(v) of Regulation

S-K.

The amounts do not reflect the actual amount of compensation earned by or paid to Mr. Schottenstein during the applicable year. In accordance with Item 402(v) of Regulation

S-K,

the following adjustments were made to the total compensation reported for Mr. Schottenstein for the “Total” column of the Summary Compensation Table for 2023:


Year	Reported Summary Compensation Table Total for PEO ($)		Reported Value of Equity Awards ($) (a)			Equity Award Adjustments ($) (b)		Compensation Actually Paid to PEO ($)
2023		9,208,595		(3,979,872	)		38,162,377		43,391,100

(a)

The amount shown reflects the sum of the amounts reported for Mr. Schottenstein in the “Stock Awards” and “Option Awards” columns of the Summary Compensation Table for 2023.

(b)


Year	Year End Fair Value of Equity Awards ($)		Year over Year Change in Fair Value of Unvested and Outstanding Equity Awards ($)		Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($)		Total Equity Award Adjustments ($)
2023		13,644,845		23,663,447		854,085		38,162,377

Non-PEO NEO Average Total Compensation Amount

$ 3,292,874

2,981,956

1,942,429

2,889,120

Non-PEO NEO Average Compensation Actually Paid Amount

$ 14,239,549

1,998,482

3,329,440

3,786,386

Adjustment to Non-PEO NEO Compensation Footnote

(4)

The amounts shown reflect the average amount of “compensation actually paid” to our other Named Executive Officers as computed in accordance with Item 402(v) of Regulation

S-K.

S-K,

the following adjustments were made to the average total compensation reported for our other Named Executive Officers for the “Total” column of the Summary Compensation Table for 2023:


Year	Average Reported Summary Compensation Table Total for Non-PEO NEOs ($)		Average Reported Value of Equity Awards for Non- PEO NEOs ($) (a)			Average Equity Award Adjustments for Non- PEO NEOs ($) (b)		Average Compensation Actually Paid to Non-PEO NEOs ($) (d)
2023		3,292,874		(1,323,474	)		12,270,149		14,239,549

(a)

(b)


Year	Average Year End Fair Value of Equity Awards ($)		Average Year over Year Change in Fair Value of Unvested and Outstanding Equity Awards ($)		Average Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($)		Total Equity Award Adjustments ($)
2023		4,578,073		7,403,512		288,564		12,270,149

Compensation Actually Paid vs. Total Shareholder Return

Relationship of Compensation Actually Paid and Cumulative Total Shareholder Return

The following chart sets forth the relationship between Compensation Actually Paid to our Chief Executive Officer, the average Compensation Actually Paid to our other Named Executive Officers, and the Company’s and Peer Group’s cumulative total shareholder return over the four most recently completed fiscal years.

Compensation Actually Paid vs. Net Income

Relationship of Compensation Actually Paid and Net Income

The following chart sets forth the relationship between Compensation

Actually

Paid to our Chief Executive Officer, the average Compensation Actually Paid to our other Named Executive Officers, and our net income during the four most recently completed fiscal years.

Compensation Actually Paid vs. Company Selected Measure

Relationship of Compensation Actually Paid and Adjusted

Pre-Tax

Income

Pre-Tax

Income

during the four most recently completed fiscal years.

Total Shareholder Return Vs Peer Group

Relationship of Compensation Actually Paid and Cumulative Total Shareholder Return

Tabular List, Table

Financial Performance Measures

We structure our executive compensation program to award compensation that depends on, and rewards executives on the basis of, individual and Company short- and long-term performance and thereby fosters a

pay-for-performance

culture. The Compensation Committee selects the metrics used for both our short-term and long-term incentive awards because it believes they effectively drive financial and operational performance and incentivize our executives to pursue actions that create sustainable shareholder value. The financial performance measures used by the Company for 2023 to link the compensation actually paid to the Company’s Named Executive Officers to Company performance are:


• Adjusted Pre-Tax Income		• Relative Total Shareholder Return

Total Shareholder Return Amount

$ 350.04

117.36

158.02

112.55

Peer Group Total Shareholder Return Amount

263.07

151.13

187.16

124.48

Net Income (Loss)

$ 465,400,000

$ 490,700,000

$ 396,900,000

$ 239,900,000

Company Selected Measure Amount

617,900,000

643,400,000

516,300,000

319,300,000

PEO Name

Robert H. Schottenstein

Measure:: 1

Pay vs Performance Disclosure

Name

Adjusted Pre-Tax Income

Non-GAAP Measure Description

Adjusted

Pre-Tax

Income, which is a

non-GAAP

measure, means the Company’s

pre-tax

income from operations, excluding extraordinary items, such as asset impairments and certain other

non-cash

write-offs. For 2020, Adjusted

Pre-Tax

Income was equal to (a) the sum of (i) income before income taxes and (ii) loss on early extinguishment of debt less (b) a

one-time

gain included in “Other income”; for 2022, Adjusted

Pre-Tax

Income was equal to the sum of (a) income before income taxes and (b) asset impairment charges; and for 2023, Adjusted

Pre-Tax

Income was equal to the sum of (a) income before income taxes and (b) asset impairment charges, in each case as reflected in our audited consolidated statements of income included in our 2023 Form

10-K.

Adjusted

Pre-Tax

Measure:: 2

Pay vs Performance Disclosure

Name

Relative Total Shareholder Return

PEO | Reported Value Of Equity Awards [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (3,979,872)

PEO | Year End Fair Value Of Equity Awards [Member]