Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2018	Feb. 08, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Trading Symbol	TPH
Entity Registrant Name	TRI Pointe Group, Inc.
Entity Central Index Key	0001561680
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		141,669,513
Entity Public Float			$ 2,448,101,287

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 277,696	$ 282,914
Receivables	51,592	125,600
Real estate inventories	3,216,059	3,105,553
Investments in unconsolidated entities	5,410	5,870
Goodwill and other intangible assets, net	160,427	160,961
Deferred tax assets, net	67,768	76,413
Other assets	105,251	48,070
Total assets	3,884,203	3,805,381
Liabilities
Accounts payable	81,313	72,870
Accrued expenses and other liabilities	335,149	330,882
Senior notes, net	1,410,804	1,471,302
Total liabilities	1,827,266	1,875,054
Commitments and contingencies
Stockholders’ Equity:
Preferred stock, $0.01 par value, 50,000,000 shares authorized; no shares issued and outstanding as of December 31, 2018 and 2017, respectively	0	0
Common stock, $0.01 par value, 500,000,000 shares authorized; 141,661,713 and 151,162,999 shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively	1,417	1,512
Additional paid-in capital	658,720	793,980
Retained earnings	1,396,787	1,134,230
Total stockholders’ equity	2,056,924	1,929,722
Noncontrolling interests	13	605
Total equity	2,056,937	1,930,327
Total liabilities and equity	$ 3,884,203	$ 3,805,381

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock authorized (shares)	50,000,000	50,000,000
Preferred stock issued (shares)	0	0
Preferred stock outstanding (shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (shares)	500,000,000	500,000,000
Common stock issued (shares)	141,661,713	151,162,999
Common stock outstanding (shares)	141,661,713	151,162,999

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues	$ 1,132,697	$ 775,071	$ 771,303	$ 583,676	$ 1,128,520	$ 717,735	$ 570,626	$ 393,391	$ 3,262,747	$ 2,810,272	$ 2,405,142
Other operations expense									3,174	2,298	2,247
Sales and marketing									187,267	137,066	127,903
General and administrative									155,030	137,764	124,119
Homebuilding income from operations									353,204	343,634	295,959
Equity in (loss) income of unconsolidated entities									(393)	(11,433)	179
Other (loss) income, net									(419)	151	312
Homebuilding income before income taxes									352,392	332,352	296,450
Equity in income of unconsolidated entities									8,517	6,426	4,810
Financial services income before income taxes									9,673	7,466	5,777
Income before income taxes									362,065	339,818	302,227
Provision for income taxes									(90,552)	(152,267)	(106,094)
Net income	100,984	63,969	63,680	42,880	74,242	72,289	32,803	8,217	271,513	187,551	196,133
Net income attributable to noncontrolling interests	(1,602)	0	0	0	(222)	(25)	(89)	(24)	(1,602)	(360)	(962)
Net income available to common stockholders	$ 99,382	$ 63,969	$ 63,680	$ 42,880	$ 74,020	$ 72,264	$ 32,714	$ 8,193	$ 269,911	$ 187,191	$ 195,171
Earnings per share
Basic (in dollars per share)	$ 0.70	$ 0.43	$ 0.42	$ 0.28	$ 0.49	$ 0.48	$ 0.21	$ 0.05	$ 1.82	$ 1.21	$ 1.21
Diluted (in dollars per share)	$ 0.70	$ 0.43	$ 0.42	$ 0.28	$ 0.49	$ 0.48	$ 0.21	$ 0.05	$ 1.81	$ 1.21	$ 1.21
Weighted average shares outstanding
Basic (shares)									148,183,431	154,134,411	160,859,782
Diluted (shares)									149,004,690	155,085,366	161,381,499
Home sales
Home sales									$ 3,244,087	$ 2,732,299	$ 2,329,336
Cost of home sales									2,536,899	2,173,251	1,836,327
Land and lot sales
Home sales									8,758	74,269	72,272
Cost of home sales									25,435	14,888	17,367
Other operations
Revenues									8,164	2,333	2,314
Homebuilding
Revenues									3,261,009	2,808,901	2,403,922
Financial services
Revenues									1,738	1,371	1,220
Cost of home sales									$ 582	$ 331	$ 253

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total Stockholders' Equity [Member]	Noncontrolling Interests [Member]
Beginning balance at Dec. 31, 2015	$ 1,686,463	$ 1,618	$ 911,197	$ 751,868	$ 1,664,683	$ 21,780
Beginning balance (shares) at Dec. 31, 2015		161,813,750
Net income	196,133			195,171	195,171	962
Shares issued under share-based awards	587	$ 4	583		587
Shares issued under share-based awards (shares)		373,332
Excess tax deficit of share-based awards, net	(165)		(165)		(165)
Minimum tax withholding paid on behalf of employees for restricted stock units	(1,359)		(1,359)		(1,359)
Stock-based compensation expense	12,612		12,612		12,612
Share repurchases	(42,082)	$ (36)	(42,046)		(42,082)
Share repurchases (shares)		(3,560,853)
Distributions to noncontrolling interests, net	(3,363)					(3,363)
Net effect of consolidations, de-consolidations and other transactions	(316)					(316)
Ending balance at Dec. 31, 2016	1,848,510	$ 1,586	880,822	947,039	1,829,447	19,063
Ending balance (shares) at Dec. 31, 2016		158,626,229
Net income	187,551			187,191	187,191	360
Shares issued under share-based awards	12,291	$ 16	12,275		12,291
Shares issued under share-based awards (shares)		1,531,475
Minimum tax withholding paid on behalf of employees for restricted stock units	(2,896)		(2,896)		(2,896)
Stock-based compensation expense	15,906		15,906		15,906
Share repurchases	(112,217)	$ (90)	(112,127)		(112,217)
Share repurchases (shares)		(8,994,705)
Distributions to noncontrolling interests, net	(1,333)					(1,333)
Net effect of consolidations, de-consolidations and other transactions	(17,485)					(17,485)
Ending balance at Dec. 31, 2017	$ 1,930,327	$ 1,512	793,980	1,134,230	1,929,722	605
Ending balance (shares) at Dec. 31, 2017	151,162,999	151,162,999
Net income	$ 271,513			269,911	269,911	1,602
Shares issued under share-based awards	1,943	$ 9	1,934		1,943
Shares issued under share-based awards (shares)		891,323
Minimum tax withholding paid on behalf of employees for restricted stock units	(6,049)		(6,049)		(6,049)
Stock-based compensation expense	14,814		14,814		14,814
Share repurchases	(146,063)	$ (104)	(145,959)		(146,063)
Share repurchases (shares)		(10,392,609)
Distributions to noncontrolling interests, net	(2,194)					(2,194)
Ending balance at Dec. 31, 2018	$ 2,056,937	$ 1,417	$ 658,720	$ 1,396,787	$ 2,056,924	$ 13
Ending balance (shares) at Dec. 31, 2018	141,661,713	141,661,713

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities
Net income	$ 271,513	$ 187,551	$ 196,133
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	29,097	3,500	3,087
Equity in (income) loss of unconsolidated entities, net	(8,124)	5,007	(4,989)
Deferred income taxes, net	11,074	46,810	7,434
Amortization of stock-based compensation	14,814	15,906	12,612
Charges for impairments and lot option abandonments	5,085	2,053	1,470
Excess tax deficit of share-based awards	0	0	(165)
Changes in assets and liabilities:
Real estate inventories	(91,757)	(205,229)	(388,145)
Receivables	74,545	(44,280)	576
Other assets	(9,895)	13,487	(8,501)
Accounts payable	3,222	2,618	5,412
Accrued expenses and other liabilities	1,906	67,036	10,490
Returns on investments in unconsolidated entities, net	9,182	7,215	6,276
Net cash provided by (used in) operating activities	310,662	101,674	(158,310)
Cash flows from investing activities:
Purchases of property and equipment	(31,651)	(2,605)	(3,985)
Proceeds from sale of property and equipment	8	6	9
Investments in unconsolidated entities	(2,274)	(980)	(32)
Net cash paid for acquisition	(61,495)	0	0
Net cash used in investing activities	(95,412)	(3,579)	(4,008)
Cash flows from financing activities:
Borrowings from debt	125,000	500,000	541,069
Repayment of debt	(193,105)	(413,726)	(330,858)
Debt issuance costs	0	(5,957)	(5,062)
Net repayments of debt held by variable interest entities	0	0	(2,442)
Contributions from noncontrolling interests	0	0	1,955
Distributions to noncontrolling interests	(2,194)	(1,333)	(5,318)
Proceeds from issuance of common stock under share-based awards	1,943	12,291	587
Minimum tax withholding paid on behalf of employees for share-based awards	(6,049)	(2,896)	(1,359)
Share repurchases	(146,063)	(112,217)	(42,082)
Net cash (used in) provided by financing activities	(220,468)	(23,838)	156,490
Net (decrease) increase in cash and cash equivalents	(5,218)	74,257	(5,828)
Cash and cash equivalents - beginning of year	282,914	208,657	214,485
Cash and cash equivalents - end of year	$ 277,696	$ 282,914	$ 208,657

Organization and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Organization and Summary of Significant Accounting Policies

Organization

TRI Pointe Group, Inc. (“TRI Pointe Group”) is engaged in the design, construction and sale of innovative single-family attached and detached homes through its portfolio of six quality brands across ten states, including Maracay in Arizona, Pardee Homes in California and Nevada, Quadrant Homes in Washington, Trendmaker Homes in Texas, TRI Pointe Homes in California, Colorado and the Carolinas and Winchester Homes in Maryland and Virginia.

Basis of Presentation

The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”).

The consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries as well as other entities in which the Company has a controlling interest and variable interest entities (“VIEs”) in which the Company is the primary beneficiary. The noncontrolling interests as of December 31, 2018 and 2017 represent the outside owners’ interests in the Company’s consolidated entities and the net equity of the VIE owners. All significant intercompany accounts have been eliminated upon consolidation.

Unless the context otherwise requires, the terms “we”, “us”, “our” and “the Company” used herein refer to TRI Pointe Group and its consolidated subsidiaries.

Reclassifications

Certain amounts in our consolidated financial statements for prior years have been reclassified to conform to the current period presentation, including the Company's condensed reporting of restructuring charges, included in general and administrative expense on the consolidated statements of operations in this annual report on Form 10-K.

Use of Estimates

Our financial statements have been prepared in accordance with GAAP. The preparation of these financial statements requires our management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from our estimates.

Subsequent Events

We evaluated subsequent events up until our consolidated financial statements were filed with the Securities and Exchange Commission.

Cash and Cash Equivalents and Concentration of Credit Risk

We define cash and cash equivalents as cash on hand, demand deposits with financial institutions, and short-term liquid investments with a maturity date of less than three months from the date of acquisition. The Company’s cash balances exceed federally insurable limits. The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts.

Revenue Recognition

In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Codified as “ASC 606”). ASC 606 supersedes the revenue-recognition requirements in ASC Topic 605, Revenue Recognition, most industry-specific guidance throughout the industry topics of the accounting standards codification, and eliminates certain cost guidance related to construction-type and production-type contracts in accordance with ASC 970. In addition, ASC 606 includes Subtopic 340-40, Other Assets and Deferred Costs - Contracts with Customers, which provided updated guidance related to certain costs incurred in obtaining and fulfilling contracts with customers. Collectively, we refer to ASC 606 and Subtopic 340-40 as ASC 606 throughout this filing. The core principle of ASC 606 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: identify the contract(s) with a customer; identify the performance obligations in the contract; determine the transaction price; allocate the transaction price to the performance obligations in the contract; and recognize revenue when (or as) the entity satisfies a performance obligation. We have adopted and applied this updated revenue recognition and cost policy as of January 1, 2018. See Adoption of New Accounting Standards below.

The majority of our revenue is related to fixed-price contracts to deliver completed homes to homebuyers, and to a much lesser degree, to deliver land or lots to other homebuilders or real estate developers. We generally deliver completed homes to homebuyers and land and lots to other homebuilders or real estate developers when all closing conditions are met, including the passage of title and the receipt of consideration, and the collection of associated receivables, if any, is reasonably assured. When it is determined that there are uncompleted performance obligations, the transaction price and the related profit for those uncompleted performance obligations are deferred for recognition in future periods based on the principles of ASC 606. The most common examples of uncompleted performance obligations are unfinished pools or outdoor landscaping features that are unable to be completed due to weather or other circumstances.

Following the adoption of ASC 606, the timing of revenue recognition for all of our contracts remained materially consistent with our historical revenue recognition policy due to the nature of our revenue generating activities, with the most common difference under ASC 606 relating to the deferral of revenue due to these uncompleted performance obligations at the time we deliver new homes to our homebuyers.

When we enter into a contract with a homebuyer, we sometimes receive a nonrefundable deposit that is recognized as revenue under circumstances in which a contract is canceled by the homebuyer. These amounts are recognized as home sales revenue at the time a contract is canceled by the homebuyer. We have not experienced significant contract modifications impacting the timing of revenue recognition under ASC 606, nor will we be required to use estimates in the application of the core revenue recognition principles.

Real Estate Inventories and Cost of Sales

Real estate inventories consist of land, land under development, homes under construction, completed homes and model homes and are stated at cost, net of impairment losses. We capitalize direct carrying costs, including interest, property taxes and related development costs to inventories. Field construction supervision and related direct overhead are also included in the capitalized cost of inventories. Direct construction costs are specifically identified and allocated to homes while other common costs, such as land, land improvements and carrying costs, are allocated to homes within a community based upon their anticipated relative sales or fair value. In accordance with ASC Topic 835, Interest (“ASC 835”), homebuilding interest capitalized as a cost of inventories owned is included in costs of sales as related units or lots are sold. To the extent our debt exceeds our qualified assets as defined in ASC 835, we expense a portion of the interest incurred by us. Qualified assets represent projects that are actively under development. Homebuilding cost of sales is recognized at the same time revenue is recognized and is recorded based upon total estimated costs to be allocated to each home within a community. Any changes to the estimated costs are allocated to the remaining undelivered lots and homes within their respective community. The estimation and allocation of these costs require a substantial degree of judgment by management.

The estimation process involved in determining relative sales or fair values is inherently uncertain because it involves estimating future sales values of homes before delivery. Additionally, in determining the allocation of costs to a particular land parcel or individual home, we rely on project budgets that are based on a variety of assumptions, including assumptions about construction schedules and future costs to be incurred. It is common that actual results differ from budgeted amounts for various reasons, including construction delays, increases in costs that have not been committed or unforeseen issues encountered during construction that fall outside the scope of existing contracts, or costs that come in less than originally anticipated. While the actual results for a particular construction project are accurately reported over time, a variance between the budget and actual costs could result in the understatement or overstatement of costs and have a related impact on gross margins between reporting periods. To reduce the potential for such variances, we have procedures that have been applied on a consistent basis, including assessing and revising project budgets on a periodic basis, obtaining commitments from subcontractors and vendors for future costs to be incurred and utilizing the most recent information available to estimate costs.

If there are indications of impairment, we perform a detailed budget and cash flow review of our real estate assets to determine whether the estimated remaining undiscounted future cash flows of the community are more or less than the asset’s carrying value. If the undiscounted cash flows are more than the asset’s carrying value, no impairment adjustment is required. However, if the undiscounted cash flows are less than the asset’s carrying value, the asset is deemed impaired and is written down to fair value. These impairment evaluations require us to make estimates and assumptions regarding future conditions, including timing and amounts of development costs and sales prices of real estate assets, to determine if expected future undiscounted cash flows will be sufficient to recover the asset’s carrying value.

When estimating undiscounted cash flows of a community, we make various assumptions, including: (i) expected sales prices and sales incentives to be offered, including the number of homes available, pricing and incentives being offered by us or other builders in other communities, and future sales price adjustments based on market and economic trends; (ii) expected sales pace and cancellation rates based on local housing market conditions, competition and historical trends; (iii) costs expended to date and expected to be incurred including, but not limited to, land and land development costs, home construction costs, interest costs, indirect construction and overhead costs, and selling costs; (iv) alternative product offerings that may be offered that could have an impact on sales pace, sales price and/or building costs; and (v) alternative uses for the property.

Many assumptions are interdependent and a change in one may require a corresponding change to other assumptions. For example, increasing or decreasing monthly sales absorption rates has a direct impact on the estimated per unit sales price of a home and the level of time sensitive costs (such as indirect construction, overhead and carrying costs). Depending on the underlying objective of the community, assumptions could have a significant impact on the projected cash flow analysis. For example, if our objective is to preserve operating margins, our cash flow analysis will be different than if the objective is to increase sales. These objectives may vary significantly from community to community and over time.

If assets are considered impaired, impairment is determined by the amount the asset’s carrying value exceeds its fair value. Fair value is determined based on estimated future cash flows discounted for inherent risks associated with real estate assets. These discounted cash flows are impacted by expected risk based on estimated land development, construction and delivery timelines; market risk of price erosion; uncertainty of development or construction cost increases; and other risks specific to the asset or market conditions where the asset is located when assessment is made. These factors are specific to each community and may vary among communities. We perform a quarterly review for indicators of impairment. For the years ended December 31, 2018 and December 31, 2016, we did not incur any real estate inventory impairment charges. For the year ended December 31, 2017, we recorded impairment charges of $854,000.

Warranty Reserves

In the normal course of business, we incur warranty-related costs associated with homes that have been delivered to homebuyers. Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related home sales revenues are recognized while indirect warranty overhead salaries and related costs are charged to cost of sales in the period incurred. Factors that affect the warranty accruals include the number of homes delivered, historical and anticipated rates of warranty claims and cost per claim. Our primary assumption in estimating the amounts we accrue for warranty costs is that historical claims experience is a strong indicator of future claims experience. In addition, we maintain general liability insurance designed to protect us against a portion of our risk of loss from warranty and construction-related claims. We also generally require our subcontractors and design professionals to indemnify us for liabilities arising from their work, subject to various limitations. However, such indemnity is significantly limited with respect to certain subcontractors that are added to our general liability insurance policy.

Our warranty reserve is based on actuarial analysis that uses our historical claim and expense data, as well as industry data to estimate these overall costs. Key assumptions used in developing these estimates include claim frequencies, severities and resolution patterns, which can occur over an extended period of time. These estimates are subject to variability due to the length of time between the delivery of a home to a homebuyer and when a warranty or construction defect claim is made, and the ultimate resolution of such claim; uncertainties regarding such claims relative to our markets and the types of product we build; and legal or regulatory actions and/or interpretations, among other factors. Due to the degree of judgment involved and the potential for variability in these underlying assumptions, our actual future costs could differ from those estimated. There can be no assurance that the terms and limitations of the limited warranty will be effective against claims made by homebuyers, that we will be able to renew our insurance coverage or renew it at reasonable rates, that we will not be liable for damages, cost of repairs, and/or the expense of litigation surrounding possible construction defects, soil subsidence or building related claims or that claims will not arise out of uninsurable events or circumstances not covered by insurance and not subject to effective indemnification agreements with certain subcontractors.

We also record expected recoveries from insurance carriers based on actual insurance claims made and actuarially determined amounts that depend on various factors, including, the above-described reserve estimates, our insurance policy coverage limits for the applicable policy years and historical recovery rates. Because of the inherent uncertainty and variability in these assumptions, our actual insurance recoveries could differ significantly from amounts currently estimated.

Investments in Unconsolidated Entities

We have investments in unconsolidated entities over which we have significant influence that we account for using the equity method with taxes provided on undistributed earnings. We record earnings and accrue taxes in the period that the earnings are recorded by our affiliates. Under the equity method, our share of the unconsolidated entities’ earnings or loss is included in equity in (loss) income of unconsolidated entities in the accompanying consolidated statements of operations. We evaluate our investments in unconsolidated entities for impairment when events and circumstances indicate that the carrying value of the investment has been impaired beyond a temporary period of time. For the year ended December 31, 2017, we had a $13.2 million impairment charge related to a joint venture formed as a limited liability company in 1999 for the entitlement and development of land located in Los Angeles County, California. For the years ended December 31, 2018 and 2016, we did not have any impairment charges related to investments in unconsolidated entities.

Variable Interest Entities

The Company accounts for variable interest entities in accordance with ASC Topic 810, Consolidation (“ASC 810”). Under ASC 810, a variable interest entity (“VIE”) is created when: (a) the equity investment at risk in the entity is not sufficient to permit the entity to finance its activities without additional subordinated financial support provided by other parties, including the equity holders; (b) the entity’s equity holders as a group (i) lack the direct or indirect ability to make decisions about the entity, (ii) are not obligated to absorb expected losses of the entity or (iii) do not have the right to receive expected residual returns of the entity; or (c) the entity’s equity holders have voting rights that are not proportionate to their economic interests, and the activities of the entity involve, or are conducted on behalf of, the equity holder with disproportionately few voting rights. If an entity is deemed to be a VIE pursuant to ASC 810, the enterprise that has both (a) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (b) the obligation to absorb the expected losses of the entity or right to receive benefits from the entity that could be potentially significant to the VIE is considered the primary beneficiary and must consolidate the VIE.

Under ASC 810, a non-refundable deposit paid to an entity is deemed to be a variable interest that will absorb some or all of the entity’s expected losses if they occur. Our land purchase and lot option deposits generally represent our maximum exposure to the land seller if we elect not to purchase the optioned property. In some instances, we may also expend funds for due diligence, development and construction activities with respect to optioned land prior to takedown. Such costs are classified as inventories owned, which we would have to write off should we not exercise the option. Therefore, whenever we enter into a land option or purchase contract with an entity and make a non-refundable deposit, a VIE may have been created. In accordance with ASC 810, we perform ongoing reassessments of whether we are the primary beneficiary of a VIE.

Stock-Based Compensation

We account for share-based awards in accordance with ASC Topic 718, Compensation-Stock Compensation (“ASC 718”). ASC 718 requires that the cost resulting from all share-based payment transactions be recognized in the financial statements. ASC 718 requires all entities to apply a fair-value-based measurement method in accounting for share-based payment transactions with employees. Share-based awards are expensed on a straight-line basis over the expected vesting period.

Sales and Marketing Expense

Following the adoption of ASC 606 on January 1, 2018, costs incurred for tangible assets directly used in the sales process that were previously capitalized to real estate inventories and amortized to cost of home sales, such as our sales offices, and model landscaping and furnishings, are capitalized to other assets and amortized to selling expense as the underlying homes are delivered. All other sales and marketing costs that were previously capitalized to real estate inventories and amortized to cost of home sales, such as advertising signage, brochures, and model and sales office conversion costs are expensed as incurred as selling expense. See Adoption of New Accounting Standards below.

Income Taxes

We account for income taxes in accordance with ASC Topic 740, Income Taxes (“ASC 740”). Deferred tax assets and liabilities are recorded based on future tax consequences of both temporary differences between the amounts reported for financial reporting purposes and the amounts deductible for income tax purposes, and are measured using enacted tax rates expected to apply in the years in which the temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period when the changes are enacted.

Each quarter we assess our deferred tax assets to determine whether all or any portion of the assets is more likely than not unrealizable under ASC 740. We are required to establish a valuation allowance for any portion of the asset we conclude is more likely than not to be unrealizable. Our assessment considers, among other things, the nature, frequency and severity of our current and cumulative losses, forecasts of our future taxable income, the duration of statutory carryforward periods and tax planning alternatives. Due to uncertainties inherent in the estimation process, it is possible that actual results may vary from estimates.

The enactment of the Tax Cuts and Jobs Act in the fourth quarter of 2017, among other things, reduced the federal corporate tax rate to 21% from 35%, effective January 1, 2018. This resulted in a $22.0 million reduction in our deferred tax asset for the year ended December 31, 2017. For further details, see Note 15, Income Taxes.

We classify any interest and penalties related to income taxes as part of income tax expense.

Business Combinations

We account for business combinations in accordance with ASC Topic 805, Business Combinations, if the assets acquired and liabilities assumed constitute a business. For acquired companies constituting a business, we recognize the identifiable assets acquired and liabilities assumed at their acquisition-date fair values and recognize any excess of total consideration paid over the fair value of the identifiable assets as goodwill. During the fourth quarter of 2018 we acquired a Dallas-based homebuilder for an all cash purchase price of approximately $61.5 million. This transaction was accounted for as a business combination in accordance with ASC 805, Business Combinations. For further details, see Note 5, Real Estate Inventories.

Goodwill and Other Intangible Assets

In accordance with ASC Topic 350, Intangibles-Goodwill and Other (“ASC 350”), we evaluate goodwill and indefinite-lived intangible assets for impairment on an annual basis, or more frequently if events or changes in circumstances between annual tests indicate that it is more likely than not that the asset is impaired. We have identified one reporting unit with goodwill, TRI Pointe Homes, and performed our annual goodwill impairment evaluation as of October 1, 2018. For further details on goodwill, see Note 8, Goodwill and Other Intangible Assets.

For our TRI Pointe Homes reporting unit, we performed a qualitative assessment to determine whether it is more likely than not that its fair value is less than its carrying amount. Upon completion of the October 2018 annual impairment assessment, we determined that no goodwill impairment was indicated. As of December 31, 2018, we are not aware of any significant indicators of impairment that exist for our goodwill that would require additional analysis.

An impairment of our indefinite-lived intangible asset is based on a comparison of its fair value to book value, without consideration of any recoverability due to the indefinite nature of the asset. As of December 31, 2018, we believe that our indefinite-lived intangible asset continues to have an indefinite life and that its fair value exceeds its carrying value. For further details on our indefinite-lived intangible asset, see Note 8, Goodwill and Other Intangible Assets.

In accordance with ASC Topic 360, Property, Plant and Equipment ("ASC 360"), we evaluate finite-lived intangible assets for impairment on an annual basis, or more frequently if events or changes in circumstances between annual tests indicate that it is more likely than not that the asset is impaired. An impairment in the carrying value of our finite-lived intangible asset is recognized whenever anticipated future undiscounted cash flows from the asset become unrecoverable and are estimated to be less than its carrying value. As of December 31, 2018, we believe that the carrying value of our finite-lived intangible asset is recoverable and that its fair value is greater than its carrying value. For further details on our finite-lived intangible asset, see Note 8, Goodwill and Other Intangible Assets.

Significant management judgment is required in the forecasts of future operating results that are used in our impairment evaluations. Our estimates are consistent with the plans and estimates that we use to manage our business. It is possible, however, that the plans may change and estimates used may prove to be inaccurate. If our actual results, or the plans and estimates used in future impairment analyses, are lower than the original estimates used to assess the recoverability of these assets, we could incur future impairment charges.

Recently Issued Accounting Standards Not Yet Adopted

In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Codified as “ASC 842”), which requires an entity to recognize assets and liabilities on the balance sheet for the rights and obligations created by leases with durations of greater than 12 months, but record expenses on the statements of operations in a manner similar to current accounting. The guidance also requires more disclosures about leases in the notes to consolidated financial statements. ASC 842 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and, at that time, we will adopt the new standard using a modified retrospective approach by recognizing a cumulative effect adjustment to the opening balance sheet. We have elected the transition package of three practical expedients permitted under ASC 842, which among other things, allows us to retain the current operating classification for all our existing leases prior to the effective adoption period. We have substantially completed our evaluation on the impact that the adoption of ASC 842 may have on our consolidated financial statements and disclosures, and we expect to recognize additional lease assets and liabilities of approximately $58 million to reflect the present value of remaining lease payments under existing leasing arrangements. The actual impact may differ from our estimate. While the adoption of ASC 842 will impact on our consolidated balance sheet, we do not expect that there will be a material impact to our consolidated statements of operations or cash flows.

In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment (“ASU 2017-04”), which removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019, with early adoption permitted, and applied prospectively. We do not expect ASU 2017-04 will have a material impact on our financial statements.

Adoption of New Accounting Standards

In August 2016, the FASB issued Accounting Standards Update No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”), which provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. We adopted ASU 2016-15 on January 1, 2018 and our adoption did not have a material impact on our consolidated financial statements.

On January 1, 2018, we adopted ASC 606 using the modified retrospective approach applying the method of presenting the standard of ASC 606 to only those contracts not considered completed under legacy GAAP. As a result of this application of ASC 606, no prior period results have been recast and the standard has been applied prospectively as of January 1, 2018. The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet resulting from the adoption of ASC 606 was as follows (in thousands):



	Balance at December 31, 2017		Adjustments due to ASC 606			Balance at January 1, 2018
Assets
Real estate inventories	$	3,105,553	$	(49,317	)	$	3,056,236
Deferred income tax asset	76,413		2,429			78,842
Other assets	48,070		39,534			87,604
Equity
Retained earnings	1,134,230		(7,354		)	1,126,876

Our cumulative adjustment to retained earnings on January 1, 2018 related primarily to the impact of ASC 340-40 and the timing of recognition and classification in our consolidated financial statements of certain sales office, model and other marketing related costs that we incur to obtain sales contracts from our customers. See our Real Estate Inventories and Cost of Sales and Revenue Recognition accounting policy above.

In accordance with ASC 606 disclosure requirements, the impact of adopting ASC 606 on our consolidated statements of operations and balance sheets for the year ended December 31, 2018 was as follows (in thousands, except per share amounts):



	Year Ended December 31, 2018
	As Reported			Balances Without Adoption of ASC 606			Effect of Change Higher/(Lower)
Statements of Operations
Revenues
Home sales	$	3,244,087		$	3,244,669		$	(582	)

Costs and expenses
Cost of home sales	2,536,899			2,575,992			(39,093		)
Sales and marketing	187,267			159,482			27,785
Provision for income taxes	(90,552		)	(87,871		)	2,681
Net income	269,911			261,866			8,045
Diluted earnings per share	$	1.81		$	1.76		$	0.05

	As of December 31, 2018
	As Reported			Balances Without Adoption of ASC 606			Effect of Change Higher/(Lower)
Balance Sheet
Assets
Real estate inventories	$	3,216,059		$	3,258,232		$	(42,173	)
Deferred tax assets, net	67,768			62,656			5,112
Other assets	105,251			64,033			41,218

Liabilities
Accrued expenses and other liabilities	335,149			335,344			(195		)

Equity
Retained earnings	1,396,787			1,392,435			4,352

Contracts with Customers

In consideration of the appropriate revenue recognition for our contracts with customers, we first assessed our ordinary operations in order to capture all revenue transactions with a counter-party appropriately considered a customer. Historically, our ordinary homebuilding revenue generating activities have included contracts with homebuyers to deliver completed homes and to a much lesser extent, contracts with other homebuilders or real estate developers to deliver land or lots in exchange for consideration. The majority of our homebuilding contracts with customers typically include a single performance obligation, which is the transfer of control of the real estate property when all closing conditions are met.

In addition to our core homebuilding operations, we undertake service operations with customers in the form of our financial services reportable segment (“TRI Pointe Solutions”), which is comprised of our mortgage financing operations, title services operations and property and casualty insurance agency operations. Our mortgage financing operation (“TRI Pointe Connect”) can act as a preferred mortgage broker to our homebuyers in all of the markets in which we operate. TRI Pointe Connect was formed as a joint venture with an established mortgage lender and is accounted for under the equity method of accounting. Our title services operation (“TRI Pointe Assurance”) provides title examinations for our homebuyers in Texas, Maryland and Virginia. TRI Pointe Assurance is a wholly owned subsidiary of TRI Pointe and acts as a title agency for First American Title Insurance Company. Our property and casualty insurance agency operations (“TRI Pointe Advantage”) is a wholly owned subsidiary of TRI Pointe that provides property and casualty insurance agency services that help facilitate the closing process in all of the markets in which we operate.

We do not currently have any long-term contracts with customers. ASC 606 provides certain practical expedients that limit some of the accounting treatments and disclosure requirements existing under this accounting standard. We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less.

Disaggregation of Revenues

We generate revenues from a mix of homebuilding operations and financial services operations. Due to the nature of our revenue generating activities, the disaggregated revenue reported on our consolidated statement of operations, in conjunction with the revenues reported in our segment disclosure, is deemed sufficient to report revenue from contracts with customers in accordance with the disaggregation disclosure requirements of ASC 606. We report total revenues in Note 2, Segment Information, which is fully comprised of our revenues from contracts with customers. While the total homebuilding revenues by segment include a mix of home sales revenue, land and lot sales revenue and other operations revenue, all material revenue amounts outside of home sales revenue are attributed to their respective homebuilding segments in the discussion below. Our consideration of disaggregated revenue consisted of a variety of facts and circumstances pertaining to our contracts with customers. These considerations included the nature, amounts, timing and other characteristics and economic factors present within each revenue line item appearing on our consolidated statement of operations. See below for further commentary regarding each of our revenue streams from contracts with customers.

Home sales revenue

We generate the majority of our total revenues from home sales, which consists of our core business operation of building and delivering completed homes to homebuyers. Included in home sales revenue are forfeited deposits, which occur when homebuyers cancel home purchase contracts that include a nonrefundable deposit. Both revenue from forfeited deposits and deferred revenue resulting from uncompleted performance obligations existing at the time we deliver new homes to our homebuyers is immaterial.

Land and lot sales revenue

Historically, we have generated land and lot sales revenue from a small number of transactions, although in some years we have realized a significant amount of revenue and gross margin. We do not expect our future land and lot sales revenue to be material, but we still consider these sales to be an ordinary part of our business, thus meeting the definition of contracts with customers. Similar to our home sales, revenue from land and lot sales is typically fully recognized when the land and lot sales transactions are consummated, at which time no further performance obligations are left to be satisfied. Some of our historical land and lot sales have included future profit participation rights. We will recognize future land and lot sales revenue in the periods in which all closing conditions are met, subject to the constraint on variable consideration related to profit participation rights, if such rights exist in the sales contract.

Other operations revenue

The majority of our other homebuilding operations revenue relates to a ground lease at our Quadrant Homes reporting segment. We are responsible for making lease payments to the land owner, and we collect sublease payments from the buyers of the buildings. This ground lease is accounted for in accordance with ASC Topic 840, Leases. We do not recognize a material profit on this ground lease.

Financial services revenues

TRI Pointe Solutions is a reportable segment and is comprised of our TRI Pointe Connect mortgage financing operations, TRI Pointe Assurance title services operations, and TRI Pointe Advantage property and casualty insurance agency operations.

Mortgage financing operations

TRI Pointe Connect was formed as a joint venture with an established mortgage lender and is accounted for under the equity method of accounting. Based on our percentage stake in this joint venture, we record a percentage of income earned by TRI Pointe Connect. Revenue by TRI Pointe Connect is recognized in the period in which the home sales transactions are consummated. TRI Pointe Connect does not have a history of uncollectable amounts from these operations. TRI Pointe Connect activity appears as equity in income of unconsolidated entities under the Financial Services section of our consolidated statements of operations.

Title services operations

TRI Pointe Assurance provides title examinations for our homebuyers in Texas, Maryland and Virginia. TRI Pointe Assurance is a wholly owned subsidiary of TRI Pointe and acts as a title agency for First American Title Insurance Company. At the time of the consummation of the home sales transactions, we recognize a percentage of revenue captured by First American Title Insurance Company. We do not have a history of uncollectable amounts from these operations. TRI Pointe Assurance revenue is included in the Financial Services section of our consolidated statements of operations.

Property and casualty insurance agency operations

TRI Pointe Advantage is a wholly owned subsidiary of TRI Pointe and provides property and casualty insurance agency services that help facilitate the closing process in all of the markets in which we operate. These operations began in February 2018 and have not generated a material amount of revenue. We expect revenue from these operations to increase as customers use these services to procure homeowners insurance, with further revenue potential as customers renew their insurance coverages beyond the initial coverage periods. The total consideration for these services, including renewal options, is estimated upon the issuance of the initial insurance policy, subject to constraint. TRI Pointe Advantage revenue is included in the Financial Services section of our consolidated statements of operations.

Segment Information

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment Information

We operate two principal businesses: homebuilding and financial services.

Our homebuilding operations consist of six homebuilding companies, each operating under different brand names, through which we acquire and develop land and construct and sell single-family detached and attached homes. In accordance with ASC Topic 280, Segment Reporting, in determining the most appropriate reportable segments, we considered similar economic and other characteristics, including product types, average selling prices, gross profits, production processes, suppliers, subcontractors, regulatory environments, land acquisition results, brand names, and underlying demand and supply. Based upon these factors, our homebuilding operations comprise the following six reportable segments: Maracay, consisting of operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California, Colorado and the early stages of expansion into the Carolinas; and Winchester Homes, consisting of operations in Maryland and Virginia.

Our TRI Pointe Solutions financial services operation is a reportable segment and is comprised of our TRI Pointe Connect mortgage financing operations, our TRI Pointe Assurance title services operations, and our TRI Pointe Advantage property and casualty insurance agency operations. For further details, see Note 1, Organization and Summary of Significant Accounting Policies.

Corporate is a non-operating segment that develops and implements company-wide strategic initiatives and provides support to our homebuilding reporting segments by centralizing certain administrative functions, such as marketing, legal, accounting, treasury, insurance, internal audit and risk management, information technology and human resources, to benefit from economies of scale. Our Corporate non-operating segment also includes general and administrative expenses related to operating our corporate headquarters. A portion of the expenses incurred by Corporate is allocated to the homebuilding reporting segments.

The reportable segments follow the same accounting policies used for our consolidated financial statements, as described in Note 1, Organization and Summary of Significant Accounting Policies. Operational results of each reportable segment are not necessarily indicative of the results that would have been achieved had the reportable segment been an independent, stand-alone entity during the periods presented.

Total revenues and income before income taxes for each of our reportable segments were as follows (in thousands):



	2018			2017			2016
Revenues
Maracay	$	263,321		$	296,768		$	255,253
Pardee Homes	999,710			826,033			730,848
Quadrant Homes	307,706			247,939			213,221
Trendmaker Homes	310,730			253,825			244,001
TRI Pointe Homes	1,073,592			927,247			723,186
Winchester Homes	305,950			257,089			237,413
Total homebuilding revenues	3,261,009			2,808,901			2,403,922
Financial services	1,738			1,371			1,220
Total	$	3,262,747		$	2,810,272		$	2,405,142
Income before taxes
Maracay	$	23,281		$	23,987		$	17,189
Pardee Homes	191,793			198,738			204,237
Quadrant Homes	38,366			32,671			21,209
Trendmaker Homes	25,228			16,764			15,353
TRI Pointe Homes	115,632			89,811			62,013
Winchester Homes	23,981			15,472			16,147
Corporate	(65,889		)	(45,091		)	(39,698		)
Total homebuilding income before income taxes	352,392			332,352			296,450
Financial services	9,673			7,466			5,777
Total	$	362,065		$	339,818		$	302,227

Total real estate inventories and total assets for each of our reportable segments, as of the date indicated, were as follows (in thousands):



	December 31, 2018		December 31, 2017
Real estate inventories
Maracay	$	293,217	$	243,883
Pardee Homes	1,286,877		1,245,659
Quadrant Homes	279,486		257,887
Trendmaker Homes	271,061		204,926
TRI Pointe Homes	812,799		855,727
Winchester Homes	272,619		297,471
Total	$	3,216,059	$	3,105,553
Total assets
Maracay	$	318,703	$	268,866
Pardee Homes	1,391,503		1,346,296
Quadrant Homes	313,947		312,803
Trendmaker Homes	325,943		224,995
TRI Pointe Homes	987,610		1,062,920
Winchester Homes	298,602		313,921
Corporate	228,010		262,740
Total homebuilding assets	3,864,318		3,792,541
Financial services	19,885		12,840
Total	$	3,884,203	$	3,805,381

Earnings Per Share

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Earnings Per Share

The following table sets forth the components used in the computation of basic and diluted earnings per share (in thousands, except share and per share amounts):



	Year Ended December 31,
	2018		2017		2016
Numerator:
Income available to common stockholders	$	269,911	$	187,191	$	195,171
Denominator:
Basic weighted-average shares outstanding	148,183,431		154,134,411		160,859,782
Effect of dilutive shares:
Stock options and unvested restricted stock units	821,259		950,955		521,717
Diluted weighted-average shares outstanding	149,004,690		155,085,366		161,381,499
Earnings per share
Basic	$	1.82	$	1.21	$	1.21
Diluted	$	1.81	$	1.21	$	1.21
Antidilutive stock options not included in diluted earnings per share	1,645,816		3,288,340		4,551,337

Receivables, Net

12 Months Ended

Dec. 31, 2018

Receivables [Abstract]

Receivables, Net

Receivables, net consisted of the following (in thousands):



	December 31, 2018		December 31, 2017
Escrow proceeds and other accounts receivable, net	$	13,995	$	89,783
Warranty insurance receivable(Note 13)	37,597		35,817
Total receivables	$	51,592	$	125,600

Receivables are evaluated for collectability and allowances for potential losses are established or maintained on applicable receivables when collection becomes doubtful. Receivables were net of allowances for doubtful accounts of $667,000 in 2018 and $330,000 in 2017.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Real Estate Inventories

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Abstract]

Real Estate Inventories

Real estate inventories consisted of the following (in thousands):



	December 31, 2018		December 31, 2017
Real estate inventories owned:
Homes completed or under construction	$	959,911	$	793,685
Land under development	1,743,537		1,934,556
Land held for future development	201,874		138,651
Model homes	238,828		211,658
Total real estate inventories owned	3,144,150		3,078,550
Real estate inventories not owned:
Land purchase and land option deposits	71,909		27,003
Total real estate inventories not owned	71,909		27,003
Total real estate inventories	$	3,216,059	$	3,105,553

Homes completed or under construction is comprised of costs associated with homes in various stages of construction and includes direct construction and related land acquisition and land development costs. Land under development primarily consists of land acquisition and land development costs, which include capitalized interest and real estate taxes, associated with land undergoing improvement activity. Land held for future development principally reflects land acquisition and land development costs related to land where development activity has not yet begun or has been suspended, but is expected to occur in the future. The real estate inventories owned balance was impacted by our one-time cumulative adjustment entry resulting from the adoption of ASC 606. As a result of our cumulative adjustment, the December 31, 2017 balance decreased by $49.3 million on January 1, 2018. For further details, see Note 1, Organization and Summary of Significant Accounting Policies.

During the fourth quarter of 2018, we acquired a Dallas-based homebuilder for an all cash purchase price of approximately $61.5 million. This transaction was accounted for as a business combination in accordance with ASC Topic 805, Business Combinations ("ASC 805"). As a result of this transaction, we recorded approximately $63.2 million of real estate inventories owned, approximately $5.5 million of other assets and approximately $7.2 million of accounts payable and other accrued liabilities. As of December 31, 2018, the purchase price accounting reflected in the accompanying financial statements is substantially complete and is based on estimates and assumptions that are subject to change within the measurement period that may impact the fair value of the assets and liabilities above (including inventories, other assets and accrued liabilities). All net assets and operations acquired in this transaction are included in the Trendmaker Homes reporting segment in Note 2, Segment Information. This transaction did not materially impact our statement of operations for the year ended December 31, 2018.

Real estate inventories not owned represents deposits related to land purchase and land and lot option agreements as well as consolidated inventory held by variable interest entities. For further details, see Note 7, Variable Interest Entities.

Interest incurred, capitalized and expensed were as follows (in thousands):



	Year Ended December 31,
	2018			2017			2016
Interest incurred	$	91,631		$	84,264		$	68,306
Interest capitalized	(91,631		)	(84,264		)	(68,306		)
Interest expensed	$	—		$	—		$	—
Capitalized interest in beginning inventory	$	176,348		$	157,329		$	140,311
Interest capitalized as a cost of inventory	91,631			84,264			68,306
Interest previously capitalized as a cost of inventory, included in cost of sales	(83,579		)	(65,245		)	(51,288		)
Capitalized interest in ending inventory	$	184,400		$	176,348		$	157,329

Interest is capitalized to real estate inventory during development and other qualifying activities. Interest that is capitalized to real estate inventory is included in cost of home sales as related units are delivered. Interest that is expensed as incurred is included in other income, net on the consolidated statements of operations.

Real Estate Inventory Impairments and Land Option Abandonments

Real estate inventory impairments and land option abandonments consisted of the following (in thousands):



	Year Ended December 31,
	2018		2017		2016
Real estate inventory impairments	$	—	$	854	$	—
Land and lot option abandonments and pre-acquisition costs	5,085		1,199		1,470
Total	$	5,085	$	2,053	$	1,470

Impairments of real estate inventory relate primarily to projects or communities that include homes completed or under construction. Within a project or community, there may be individual homes or parcels of land that are currently held for sale. Impairment charges recognized as a result of adjusting individual held-for-sale assets within a community to estimated fair value less cost to sell are also included in the total impairment charges above.

In addition to owning land and residential lots, we also have option agreements to purchase land and lots at a future date. We have option deposits and capitalized pre-acquisition costs associated with the optioned land and lots. When the economics of a project no longer support acquisition of the land or lots under option, we may elect not to move forward with the acquisition. Option deposits and capitalized pre-acquisition costs associated with the assets under option may be forfeited at that time.

Real estate inventory impairments and land option abandonments are recorded in cost of home sales and cost of land and lot sales on the consolidated statements of operations.

Investments in Unconsolidated Entities

12 Months Ended

Dec. 31, 2018

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Entities

As of December 31, 2018, we held equity investments in four active homebuilding partnerships or limited liability companies and one financial services limited liability company. Our participation in these entities may be as a developer, a builder, or an investment partner. Our ownership percentage varies from 3% to 65%, depending on the investment, with no controlling interest held in any of these investments.

Investments Held

Our cumulative investment in entities accounted for on the equity method, including our share of earnings and losses, consisted of the following (in thousands):



	December 31,
	2018		2017
Limited liability company interests	$	2,701	$	2,687
General partnership interests	2,709		3,183
Total	$	5,410	$	5,870

In the fourth quarter of 2017, we fully impaired a $13.2 million investment in a joint venture formed as a limited liability company in 1999 for the entitlement and development of land located in Los Angeles County, California. This $13.2 million impairment charge is included in equity in (loss) income of unconsolidated entities under our homebuilding operations on the consolidated statements of operations. Although we continue to hold a 3% equity stake in the joint venture, we are a non-funding member of the limited liability company and we expect our equity stake to be further diluted. This impairment charge is included in the Pardee Homes reporting segment in Note 2, Segment Information.

Unconsolidated Financial Information

Aggregated assets, liabilities and operating results of the entities we account for as equity-method investments are provided below. Because our ownership interest in these entities varies, a direct relationship does not exist between the information presented below and the amounts that are reflected on our consolidated balance sheets as our investment in unconsolidated entities or on our consolidated statement of operations as equity in (loss) income of unconsolidated entities.

Assets and liabilities of unconsolidated entities (in thousands):



	December 31,
	2018		2017
Assets
Cash	$	13,337	$	11,678
Receivables	4,674		6,564
Real estate inventories	99,864		99,997
Other assets	811		936
Total assets	$	118,686	$	119,175
Liabilities and equity
Accounts payable and other liabilities	$	11,631	$	12,208
Company’s equity	5,410		5,870
Outside interests' equity	101,645		101,097
Total liabilities and equity	$	118,686	$	119,175

Results of operations from unconsolidated entities (in thousands):



	Year Ended December 31,
	2018			2017			2016
Net sales	$	28,745		$	24,247		$	18,725
Other operating expense	(17,447		)	(13,904		)	(11,315		)
Other income	97			120			4
Net income	$	11,395		$	10,463		$	7,414
Company’s equity in income (loss) of unconsolidated entities	$	8,124		$	(5,007	)	$	4,989

Variable Interest Entities

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

In the ordinary course of business, we enter into land option agreements in order to procure land and residential lots for future development and the construction of homes. The use of such land option agreements generally allows us to reduce the risks associated with direct land ownership and development, and reduces our capital and financial commitments. Pursuant to these land option agreements, we generally provide a deposit to the seller as consideration for the right to purchase land at different times in the future, usually at predetermined prices. Such deposits are recorded as land purchase and land option deposits under real estate inventories not owned in the accompanying consolidated balance sheets.

We analyze each of our land option agreements and other similar contracts under the provisions of ASC 810 to determine whether the land seller is a VIE and, if so, whether we are the primary beneficiary. Although we do not have legal title to the underlying land, if we are determined to be the primary beneficiary of the VIE, we will consolidate the VIE in our financial statements and reflect its assets as real estate inventory not owned included in our real estate inventories, its liabilities as debt (nonrecourse) held by VIEs in accrued expenses and other liabilities and the net equity of the VIE owners as noncontrolling interests on our consolidated balance sheets. In determining whether we are the primary beneficiary, we consider, among other things, whether we have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance. Such activities would include, among other things, determining or limiting the scope or purpose of the VIE, selling or transferring property owned or controlled by the VIE, or arranging financing for the VIE.

Creditors of the entities with which we have land option agreements have no recourse against us. The maximum exposure to loss under our land option agreements is limited to non-refundable option deposits and any capitalized pre-acquisition costs. In some cases, we have also contracted to complete development work at a fixed cost on behalf of the land owner and budget shortfalls and savings will be borne by us. Additionally, we have entered into land banking arrangements which require us to complete development work even if we terminate the option to procure land or lots.

The following provides a summary of our interests in land option agreements (in thousands):



	December 31, 2018						December 31, 2017
	Deposits		Remaining Purchase Price		Consolidated Inventory Held by VIEs		Deposits		Remaining Purchase Price		Consolidated Inventory Held by VIEs
Consolidated VIEs	$	—	$	—	$	—	$	—	$	—	$	—
Unconsolidated VIEs	41,198		433,720		N/A		3,418		112,590		N/A
Other land option agreements	30,711		307,498		N/A		23,585		269,349		N/A
Total	$	71,909	$	741,218	$	—	$	27,003	$	381,939	$	—

Unconsolidated VIEs represent land option agreements that were not consolidated because we were not the primary beneficiary. Other land option agreements were not considered VIEs.

In addition to the deposits presented in the table above, our exposure to loss related to our land option contracts consisted of capitalized pre-acquisition costs of $7.5 million and $4.5 million as of December 31, 2018 and 2017, respectively. These pre-acquisition costs were included in real estate inventories as land under development on our consolidated balance sheets.

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

The Company recorded $139.3 million of goodwill in connection with the Merger with WRECO. As of December 31, 2018 and 2017, $139.3 million of goodwill is included in goodwill and other intangible assets, net, on each of the consolidated balance sheets. The Company's goodwill balance is included in the TRI Pointe Homes reporting segment in Note 2, Segment Information.

We have two intangible assets as of December 31, 2018, comprised of an existing trade name from the acquisition of Maracay in 2006, which has a 20 year useful life, and a TRI Pointe Homes trade name resulting from the acquisition of WRECO in 2014, which has an indefinite useful life.

Goodwill and other intangible assets consisted of the following (in thousands):



	December 31, 2018							December 31, 2017
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Goodwill	$	139,304	$	—		$	139,304	$	139,304	$	—		$	139,304
Trade names	27,979		(6,856		)	21,123		27,979		(6,322		)	21,657
Total	$	167,283	$	(6,856	)	$	160,427	$	167,283	$	(6,322	)	$	160,961

The remaining useful life of our amortizing intangible asset related to Maracay was 7.2 and 8.2 years as of December 31, 2018 and 2017, respectively. Amortization expense related to this intangible asset was $534,000 for each of the years ended December 31, 2018 and 2017, and was charged to sales and marketing expense. Our $17.3 million indefinite life intangible asset related to TRI Pointe Homes trade name is not amortizing. All trade names are evaluated for impairment on an annual basis or more frequently if indicators of impairment exist.

Expected amortization of our intangible asset related to Maracay for the next five years and thereafter is (in thousands):



2019	$	534
2020	534
2021	534
2022	534
2023	534
Thereafter	1,153
Total	$	3,823

Other Assets

12 Months Ended

Dec. 31, 2018

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

Other assets consisted of the following (in thousands):



	December 31, 2018		December 31, 2017
Prepaid expenses	$	31,983	$	13,040
Refundable fees and other deposits	12,376		16,012
Development rights, held for future use or sale	845		2,569
Deferred loan costs	2,424		3,427
Operating properties and equipment, net	54,198		10,528
Other	3,425		2,494
Total	$	105,251	$	48,070

Operating properties and equipment, net was impacted by our one-time cumulative adjustment resulting from the adoption of ASC 606. As a result of our cumulative adjustment, the December 31, 2017 balance increased by $39.5 million on January 1, 2018. For further details, see Note 1, Organization and Summary of Significant Accounting Policies.

Accrued Expenses and Other Liabilities

12 Months Ended

Dec. 31, 2018

Payables and Accruals [Abstract]

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following (in thousands):



	December 31, 2018		December 31, 2017
Accrued payroll and related costs	$	44,010	$	36,863
Warranty reserves (Note 13)	71,836		69,373
Estimated cost for completion of real estate inventories	114,928		105,864
Customer deposits	17,464		19,568
Income tax liability to Weyerhaeuser	6,577		7,706
Accrued income taxes payable	8,335		30,672
Liability for uncertain tax positions	972		1,458
Accrued interest	12,572		11,014
Accrued insurance expense	—		1,187
Other tax liabilities	21,892		33,671
Other	36,563		13,506
Total	$	335,149	$	330,882

Senior Notes and Unsecured Revolving Credit Facility

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Senior Notes and Unsecured Revolving Credit Facility

Senior Notes

Senior notes consisted of the following (in thousands):



	December 31, 2018			December 31, 2017
4.375% Senior Notes due June 15, 2019	$	381,895		$	450,000
4.875% Senior Notes due July 1, 2021	300,000			300,000
5.875% Senior Notes due June 15, 2024	450,000			450,000
5.250% Senior Notes due June 1, 2027	300,000			300,000
Discount and deferred loan costs	(21,091		)	(28,698		)
Total	$	1,410,804		$	1,471,302

In June 2017, TRI Pointe Group issued $300.0 million aggregate principal amount of 5.250% Senior Notes due 2027 (the “2027 Notes”) at 100.00% of their aggregate principal amount. Net proceeds of this issuance were $296.3 million, after debt issuance costs and discounts. The 2027 Notes mature on June 1, 2027 and interest is paid semiannually in arrears on June 1 and December 1 of each year until maturity, beginning on December 1, 2017.

In May 2016, TRI Pointe Group issued $300.0 million aggregate principal amount of 4.875% Senior Notes due 2021 (the “2021 Notes”) at 99.44% of their aggregate principal amount. Net proceeds of this issuance were $293.9 million, after debt issuance costs and discounts. The 2021 Notes mature on July 1, 2021 and interest is paid semiannually in arrears on January 1 and July 1.

TRI Pointe Group and its 100% owned subsidiary TRI Pointe Homes, Inc. ("TRI Pointe Homes") are co-issuers of the 4.375% Senior Notes due 2019 (the "2019 Notes") and the 5.875% Senior Notes due 2024 (the "2024 Notes"). The 2019 Notes were issued at 98.89% of their aggregate principal amount and the 2024 Notes were issued at 98.15% of their aggregate principal amount. The net proceeds from the offering were $861.3 million, after debt issuance costs and discounts. The 2019 Notes and the 2024 Notes mature on June 15, 2019 and June 15, 2024, respectively. Interest is payable semiannually in arrears on June 15 and December 15. During the year ended December 31, 2018 we repurchased and cancelled an aggregate principal amount of $68.1 million of the 2019 Notes.

As of December 31, 2018 there was $14.6 million of capitalized debt financing costs, included in senior notes, net on our consolidated balance sheet, that will amortize over the lives of the Senior Notes. Accrued interest related to the Senior Notes was $11.5 million and $10.6 million as of December 31, 2018 and 2017, respectively.

Unsecured Revolving Credit Facility

On June 20, 2017, the Company modified its existing unsecured revolving credit facility (the “Credit Facility”) to extend the maturity date by two years to May 18, 2021, while decreasing the total commitments under the Credit Facility to $600 million from $625 million. In addition, the Credit Facility was modified to give the Company the option to make offers to the lenders to extend the maturity date of the Credit Facility in twelve-month increments, subject to the satisfaction of certain conditions. The Credit Facility contains a sublimit of $75.0 million for letters of credit. The Company may borrow under the Credit Facility in the ordinary course of business to fund its operations, including its land acquisition, land development and homebuilding activities. Borrowings under the Credit Facility will be governed by, among other things, a borrowing base. Interest rates on borrowings under the Credit Facility will be based on either a daily Eurocurrency base rate or a Eurocurrency rate, in either case, plus a spread ranging from 1.25% to 2.00%, depending on the Company’s leverage ratio. As of December 31, 2018, we had no outstanding debt under the Credit Facility and $568.2 million of availability after considering the borrowing base provisions and outstanding letters of credit. As of December 31, 2018 there was $2.4 million of capitalized debt financing costs, included in other assets on our consolidated balance sheet, related to the Credit Facility that will amortize over the life of the Credit Facility, maturing on May 18, 2021. Accrued interest related to the Credit Facility was $402,000 and $426,000 as of December 31, 2018 and 2017, respectively.

At December 31, 2018 and 2017, we had outstanding letters of credit of $31.8 million and $7.7 million, respectively. These letters of credit were issued to secure various financial obligations. We believe it is not probable that any outstanding letters of credit will be drawn upon.

Interest Incurred

During the years ended December 31, 2018 and 2017, the Company incurred interest of $91.6 million and $84.3 million, respectively, related to all notes payable and Senior Notes outstanding during the period. All interest incurred was capitalized to inventory for the years ended December 31, 2018 and 2017, respectively. Included in interest incurred was amortization of deferred financing and Senior Notes discount costs of $8.0 million and $7.6 million for the years ended December 31, 2018 and 2017, respectively. Accrued interest related to all outstanding debt at December 31, 2018 and 2017 was $12.6 million and $11.0 million, respectively.

Covenant Requirements

The Senior Notes contain covenants that restrict our ability to, among other things, create liens or other encumbrances, enter into sale and leaseback transactions, or merge or sell all or substantially all of our assets. These limitations are subject to a number of qualifications and exceptions.

Under the Credit Facility, the Company is required to comply with certain financial covenants, including but not limited to (i) a minimum consolidated tangible net worth; (ii) a maximum total leverage ratio; and (iii) a minimum interest coverage ratio. The Company was in compliance with all applicable financial covenants as of December 31, 2018 and December 31, 2017.

Fair Value Disclosures

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Disclosures

Fair Value Measurements

ASC Topic 820, Fair Value Measurements and Disclosures, defines “fair value” as the price that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at measurement date and requires assets and liabilities carried at fair value to be classified and disclosed in the following three categories:


•	Level 1—Quoted prices for identical instruments in active markets


•	Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are inactive; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets at measurement date


•	Level 3—Valuations derived from techniques where one or more significant inputs or significant value drivers are unobservable in active markets at measurement date

Fair Value of Financial Instruments

A summary of assets and liabilities at December 31, 2018 and 2017, related to our financial instruments, measured at fair value on a recurring basis, is set forth below (in thousands):



		December 31, 2018				December 31, 2017
	Hierarchy	Book Value		Fair Value		Book Value		Fair Value
Senior Notes⁽¹⁾	Level 2	$	1,425,397	$	1,308,826	$	1,491,229	$	1,552,335

__________


⁽¹⁾	The book value of the Senior Notes is net of discounts, excluding deferred loan costs of $14.6 million and $19.9 million as of December 31, 2018 and 2017, respectively. The estimated fair value of our Senior Notes at December 31, 2018 and 2017 is based on quoted market prices.

At December 31, 2018 and 2017, the carrying value of cash and cash equivalents, receivables, other assets, accounts payable and accrued expenses and other liabilities approximated fair value due to their short-term nature and variable interest rate terms.

Fair Value of Nonfinancial Assets

Nonfinancial assets include items such as real estate inventories and long-lived assets that are measured at fair value on a nonrecurring basis with events and circumstances indicating the carrying value is not recoverable. The following table presents impairment charges and the remaining net fair value for nonfinancial assets that were measured during the periods presented (in thousands):



	Year Ended December 31, 2018				Year Ended December 31, 2017
	Impairment Charge		Fair Value Net of Impairment		Impairment Charge		Fair Value Net of Impairment
Real estate inventories ⁽¹⁾	$	—	$	—	$	854	$	12,950


⁽¹⁾	Fair value of real estate inventories, net of impairment charges represents only those assets whose carrying values were adjusted to fair value in the respective periods presented. The fair value of these real estate inventories impaired was determined based on recent offers received from outside third parties or actual contracts.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Legal Matters

Lawsuits, claims and proceedings have been and may be instituted or asserted against us in the normal course of business, including actions brought on behalf of various classes of claimants. We are also subject to local, state and federal laws and regulations related to land development activities, house construction standards, sales practices, employment practices, environmental protection and financial services. As a result, we are subject to periodic examinations or inquiry by agencies administering these laws and regulations.

We record a reserve for potential legal claims and regulatory matters when they are probable of occurring and a potential loss is reasonably estimable. We accrue for these matters based on facts and circumstances specific to each matter and revise these estimates when necessary. In view of the inherent difficulty of predicting outcomes of legal claims and related contingencies, we generally cannot predict their ultimate resolution, related timing or eventual loss. Accordingly, it is possible that the ultimate outcome of any matter, if in excess of a related accrual or if no accrual was made, could be material to our financial statements. Legal reserves were $17.5 million and zero as of December 31, 2018 and 2017, respectively.

On April 3, 2017, Pardee Homes was named as a defendant in a lawsuit filed in San Diego County Superior Court by Scripps Health (“Scripps”) related to the April 1989 sale by Pardee Homes of real property located in Carmel Valley, California to Scripps pursuant to a purchase agreement dated December 18, 1987 (as amended, the “Purchase Agreement”). In March 2003, Scripps contacted Pardee Homes and alleged Pardee Homes had breached a covenant in the Purchase Agreement by failing to record a restriction against the development of the surrounding property then owned by Pardee Homes for medical office use. In November 2003, the parties entered into a tolling agreement, pursuant to which the parties agreed to toll any applicable statutes of limitation from November 3, 2003 until the expiration of the agreement. The tolling agreement did not revive any cause of action already time barred by a statute of limitation as of November 3, 2003. The tolling agreement was terminated as of February 21, 2017. Pardee Homes became an indirect, wholly owned subsidiary of TRI Pointe on July 7, 2014 in connection with TRI Pointe’s acquisition of WRECO.

On May 18, 2018, Pardee Homes filed a motion for summary judgment in the action, which had a rescheduled hearing date of September 28, 2018. At the hearing, the court denied the motion for summary judgment. On October 22, 2018, Pardee Homes filed with an appellate court a writ of mandate appealing the trial court's denial of the motion for summary judgment, which writ of mandate was denied by the appellate court. On January 30, 2019, Pardee Homes and Scripps entered into a confidential settlement agreement and mutual general release pursuant to which Pardee Homes agreed to pay a settlement amount of $17.5 million and Scripps agreed to dismiss the lawsuit with prejudice. The parties also agreed to mutual general releases of all claims. On February 4, 2019, Pardee Homes paid the $17.5 million settlement amount to Scripps, and Scripps filed a request for dismissal of the lawsuit on February 7, 2019, which was entered by the court on February 21, 2019. This amount was included in accrued expenses and other liabilities on our consolidated balance sheet and in cost of land and lot sales in our consolidated statements of operations as of and for the year ended December 31, 2018.

Warranty

Warranty reserves are accrued as home deliveries occur. Our warranty reserves on homes delivered will vary based on product type and geographic area and also depending on state and local laws. The warranty reserve is included in accrued expenses and other liabilities on our consolidated balance sheets and represents expected future costs based on our historical experience over previous years. Estimated warranty costs are charged to cost of home sales in the period in which the related home sales revenue is recognized.

We maintain general liability insurance designed to protect us against a portion of our risk of loss from warranty and construction defect-related claims. We also generally require our subcontractors and design professionals to indemnify us for liabilities arising from their work, subject to various limitations. However, such indemnity is significantly limited with respect to certain subcontractors that are added to our general liability insurance policy.

Our warranty reserve and related estimated insurance recoveries are based on actuarial analysis that uses our historical claim and expense data, as well as industry data to estimate these overall costs and related recoveries. Key assumptions used in developing these estimates include claim frequencies, severities and resolution patterns, which can occur over an extended period of time. These estimates are subject to variability due to the length of time between the delivery of a home to a homebuyer and when a warranty or construction defect claim is made, and the ultimate resolution of such claim; uncertainties regarding such claims relative to our markets and the types of product we build; and legal or regulatory actions and/or interpretations, among other factors. Due to the degree of judgment involved and the potential for variability in these underlying assumptions, our actual future costs could differ from those estimated. There can be no assurance that the terms and limitations of the limited warranty will be effective against claims made by homebuyers, that we will be able to renew our insurance coverage or renew it at reasonable rates, that we will not be liable for damages, cost of repairs, and/or the expense of litigation surrounding possible construction defects, soil subsidence or building related claims or that claims will not arise out of uninsurable events or circumstances not covered by insurance and not subject to effective indemnification agreements with certain subcontractors.

We also record expected recoveries from insurance carriers based on actual insurance claims made and actuarially determined amounts that depend on various factors, including, the above-described reserve estimates, our insurance policy coverage limits for the applicable policy years and historical recovery rates. Because of the inherent uncertainty and variability in these assumptions, our actual insurance recoveries could differ significantly from amounts currently estimated. Outstanding warranty insurance receivables were $37.6 million and $35.8 million as of December 31, 2018 and 2017, respectively. Warranty insurance receivables are recorded in receivables on the accompanying consolidated balance sheet.

Warranty reserves consisted of the following (in thousands):



	Year Ended December 31,
	2018			2017			2016
Warranty reserves, beginning of period	$	69,373		$	83,135		$	45,948
Warranty reserves accrued	25,340			13,336			12,712
Adjustments to pre-existing reserves⁽¹⁾	(4,286		)	(9,354		)	36,826
Warranty expenditures	(18,591		)	(17,744		)	(12,351		)
Warranty reserves, end of period	$	71,836		$	69,373		$	83,135

__________

⁽¹⁾

Included in this amount for 2016 is approximately $38.0 million of additional warranty liabilities estimated to be covered by our insurance policies that were adjusted to present the warranty reserves and related estimated warranty insurance receivable on a gross basis at December 31, 2016. Of the $38.0 million adjusted in 2016, approximately $36.5 million related to prior year estimated warranty insurance recoveries.

Performance Bonds

We obtain surety bonds in the normal course of business with various municipalities and other government agencies to secure completion of certain infrastructure improvements of our projects. As of December 31, 2018 and December 31, 2017, the Company had outstanding surety bonds totaling $685.7 million and $627.1 million, respectively. As of December 31, 2018 and December 31, 2017, our estimated cost to complete obligations related to these surety bonds was $423.4 million and $537.4 million, respectively. If any such performance bonds or letters of credit are called, we would be obligated to reimburse the issuer of the performance bond or letter of credit. We do not believe that a material amount of any currently outstanding performance bonds or letters of credit will be called. Performance bonds do not have stated expiration dates. Rather, we are released from the performance bonds as the underlying performance is completed.

Operating Leases

Office Space, Buildings and Equipment

We lease certain property and equipment under non-cancelable operating leases. Office leases are for terms up to ten years and generally provide renewal options for terms up to an additional five years. In most cases, we expect that, in the normal course of business, leases that expire will be renewed or replaced by other leases. Equipment leases are typically for terms of three to four years. The future minimum rental payments under operating leases, which primarily consist of office leases having initial or remaining noncancellable lease terms in excess of one year, are as follows (in thousands):



2019	$	7,502
2020	7,883
2021	6,776
2022	5,198
2023	4,088
Thereafter	8,094
	$	39,541

For the years ended December 31, 2018, 2017 and 2016, rental expense was $7.8 million, $6.9 million and $6.4 million, respectively. Rental expense is included in general and administrative expenses on the consolidated statements of operations.

Ground Leases

In 1987, we obtained two 55-year ground leases of commercial property that provided for three renewal options of ten years each and one 45-year renewal option. We exercised the three ten year extensions on one of these ground leases extending the lease through 2071. The commercial buildings on these properties have been sold and the ground leases have been sublet to the buyers.

For one of these leases, we are responsible for making lease payments to the land owner, and we collect sublease payments from the buyers of the buildings. Our lease commitments under this ground lease, which extends through 2071, were (in thousands):



2019	$	2,359
2020	2,359
2021	2,359
2022	2,359
2023	2,359
Thereafter	75,592
	$	87,387

This ground lease has been subleased through 2041 to the buyers of the commercial buildings. Our lease commitments through 2041 total $54.2 million as of December 31, 2018, and are fully offset by sublease receipts under the noncancellable subleases.

For the second lease, the buyers of the buildings are responsible for making lease payments directly to the land owner. However, we have guaranteed the performance of the buyers/lessees. As of December 31, 2018, guaranteed future payments on the lease, which expires in 2041, were $12.5 million.

Purchase Obligations

In the ordinary course of business, we enter into land option contracts in order to procure lots for the construction of our homes. We are subject to customary obligations associated with entering into contracts for the purchase of land and improved lots. These purchase contracts typically require a cash deposit and the purchase of properties under these contracts is generally contingent upon satisfaction of certain requirements by the sellers, including obtaining applicable property and development entitlements. We also utilize option contracts with land sellers and land banking arrangements as a method of acquiring land in staged takedowns, to help us manage the financial and market risk associated with land holdings, and to reduce the use of funds from our corporate financing sources. These option contracts and land banking arrangements generally require a non-refundable deposit for the right to acquire land and lots over a specified period of time at pre-determined prices. We generally have the right at our discretion, to terminate our obligations under both purchase contracts and option contracts by forfeiting our cash deposit with no further financial responsibility to the land seller. In some cases, however, we may be contractually obligated to complete development work even if we terminate the option to procure land or lots. As of December 31, 2018, we had $71.9 million of non-refundable cash deposits pertaining to land option contracts and purchase contracts with an aggregate remaining purchase price of approximately $741.2 million (net of deposits).

Our utilization of land option contracts and land banking arrangements is dependent on, among other things, the availability of land sellers or land banking firms willing to enter into such option takedown arrangements, the availability of capital to financial intermediaries to finance the development of optioned lots, general housing market conditions, and local market dynamics. Options may be more difficult to procure from land sellers in strong housing markets and are more prevalent in certain geographic regions.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

2013 Long-Term Incentive Plan

The Company’s stock compensation plan, the 2013 Long-Term Incentive Plan (the “2013 Incentive Plan”), was adopted by TRI Pointe in January 2013, amended with the approval of our stockholders in 2014 and 2015, and amended and restated in 2019. In addition, our board of directors amended the 2013 Incentive Plan in 2014 to prohibit repricing (other than in connection with any equity restructuring or any change in capitalization) of outstanding options or stock appreciation rights without stockholder approval. On February 21, 2019, our board of directors approved an amendment and restatement of the 2013 Incentive Plan. The 2013 Incentive Plan provides for the grant of equity-based awards, including options to purchase shares of common stock, stock appreciation rights, bonus stock, restricted stock, restricted stock units and performance awards. The 2013 Incentive Plan will automatically expire on the tenth anniversary of its effective date. Our board of directors may terminate or amend the 2013 Incentive Plan at any time, subject to any requirement of stockholder approval required by applicable law, rule or regulation.

The number of shares of our common stock that may be issued under the 2013 Incentive Plan is 11,727,833 shares. To the extent that shares of our common stock subject to an outstanding option, stock appreciation right, stock award or performance award granted under the 2013 Incentive Plan are not issued or delivered by reason of the expiration, termination, cancellation or forfeiture of such award or the settlement of such award in cash, then such shares of our common stock generally shall again be available under the 2013 Incentive Plan. As of December 31, 2018 there were 6,455,011 shares available for future grant under the 2013 Incentive Plan.

The following table presents compensation expense recognized related to all stock-based awards (in thousands):



	Year Ended December 31,
	2018		2017		2016
Total stock-based compensation	$	14,814	$	15,906	$	12,612

Stock-based compensation is charged to general and administrative expense on the accompanying consolidated statements of operations. As of December 31, 2018, total unrecognized stock-based compensation related to all stock-based awards was $16.9 million and the weighted average term over which the expense was expected to be recognized was 1.7 years.

Summary of Stock Option Activity

The following table presents a summary of stock option awards for the year ended December 31, 2018:



	Options		Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value (in thousands)
Options outstanding at December 31, 2017	1,154,658		$	14.16	4.9	$	4,350
Granted	—		—		—
Exercised	(171,747	)	$	12.05
Forfeited	(29,006	)	$	12.73
Options outstanding at December 31, 2018	953,905		$	14.58	4.2	$	296
Options exercisable at December 31, 2018	953,905		$	14.58	4.2	$	296

The intrinsic value of each stock option award outstanding or exercisable is the difference between the fair market value of the Company's common stock at the end of the period and the exercise price of each stock option award to the extent it is considered "in-the-money". A stock option award is considered to be "in-the-money" if the fair market value of the Company's stock is greater than the exercise price of the stock option award. The aggregate intrinsic value of options outstanding and options exercisable represents the value that would have been received by the holders of stock option awards had they exercised their stock option award on the last trading day of the period and sold the underlying shares at the closing price on that day. The total intrinsic value of stock option awards exercised during the years ended December 31, 2018, 2017 and 2016 was $873,000, $4.5 million and $324,000, respectively. There were no stock option awards granted during the years ended December 31, 2018, 2017 and 2016.

Summary of Restricted Stock Unit Activity

The following table presents a summary of restricted stock units (“RSUs”) for the year ended December 31, 2018:



	Restricted Stock Units		Weighted Average Grant Date Fair Value Per Share		Aggregate Intrinsic Value (in thousands)
Nonvested RSUs at December 31, 2017	4,307,592		$	9.80	$	77,192
Granted	1,131,231		$	15.77
Vested	(1,102,727	)	$	12.47
Forfeited	(994,248	)	$	9.40
Nonvested RSUs at December 31, 2018	3,341,848		$	11.05	$	36,526

The total intrinsic value of restricted stock units that vested during the years ended December 31, 2018, 2017 and 2016 was $17.8 million, $8.8 million and $4.6 million, respectively. The total grant date fair value of restricted stock awards granted during the years ended December 31, 2018, 2017 and 2016 were $15.8 million, $18.4 million and $21.8 million, respectively.

On February 27, 2017, the Company granted an aggregate of 990,279 time-vested RSUs to employees and officers. The RSUs granted vest in equal installments annually on the anniversary of the grant date over a three year period. The fair value of each RSU granted on February 27, 2017 was measured using a price of $12.10 per share, which was the closing stock price on the date of grant. Each award will be expensed on a straight-line basis over the vesting period.

On February 27, 2017, the Company granted 257,851, 247,933 and 119,008 performance-based RSUs to the Company’s Chief Executive Officer, President, and Chief Financial Officer, respectively. These performance-based RSUs are allocated in equal parts to two separate performance metrics: (i) TSR, with vesting based on the Company’s TSR relative to its peer-group homebuilders; and (ii) earnings per share. The vesting, if at all, of these performance-based RSUs may range from 0% to 100% and will be based on the Company’s percentage attainment of specified threshold, target and maximum performance goals. The performance period for these performance-based RSUs is January 1, 2017 to December 31, 2019. The fair value of the performance-based RSUs related to the TSR metric was determined to be $6.16 per share based on a Monte Carlo simulation. The fair value of the performance-based RSUs related to the earnings per share goal was measured using a price of $12.10 per share, which was the closing stock price on the date of grant. Each award will be expensed over the requisite service period.

On May 30, 2017, the Company granted an aggregate of 55,865 RSUs to the non-employee members of its board of directors. These RSUs vest in their entirety on the day immediately prior to the Company's 2018 Annual Meeting of Stockholders. The fair value of each RSU granted on May 30, 2017 was measured using a price of $12.53 per share, which was the closing stock price on the date of grant. Each award will be expensed on a straight-line basis over the vesting period.

On February 15, 2018, the Compensation Committee of our Board of Directors certified the performance achieved with respect to performance-based RSUs granted to the Company’s Chief Executive Officer, President, and Chief Financial Officer in 2015 that resulted in the issuance of 197,898 shares of our common stock under the 2013 Incentive Plan. The vesting of these performance-based RSUs are included in the table above. RSUs that were forfeited, as reflected in the table above, during the year ended December 31, 2018 included performance-based RSUs and time-based RSUs that were forfeited for no consideration.

On February 22, 2018, the Company granted 184,179, 177,095, and 85,005 performance-based RSUs to the Company’s Chief Executive Officer, President, and Chief Financial Officer, respectively. These performance-based RSUs are allocated in equal parts to two separate performance metrics: (i) TSR, with vesting based on the Company’s TSR relative to its peer-group homebuilders; and (ii) earnings per share. The vesting, if at all, of these performance-based RSUs may range from 0% to 100% and will be based on the Company’s percentage attainment of specified threshold, target and maximum performance goals. The performance period for these performance-based RSUs is January 1, 2018 to December 31, 2020. The fair value of the performance-based RSUs related to the TSR metric was determined to be $10.97 per share based on a Monte Carlo simulation. The fair value of the performance-based RSUs related to the earnings per share goal was measured using a price of $16.94 per share, which was the closing stock price on the date of grant. Each award will be expensed over the requisite service period.

On April 30, 2018, the Company granted an aggregate of 40,910 RSUs to the non-employee members of its board of directors. On July 23, 2018, the Company granted 6,677 RSUs to a non-employee member of its board of directors in connection with such individual's appointment to the board of directors. These RSUs vest in their entirety on the day immediately prior to the Company's 2019 Annual Meeting of Stockholders. The fair value of each RSU granted on April 30, 2018 and July 23, 2018 was measured using a price of $17.11 and $16.37 per share, respectively, which was the closing stock price on the date of grant. Each award will be expensed on a straight-line basis over the vesting period.

On May 7, 2018 and February 22, 2018, the Company granted an aggregate of 4,258 and 633,107, respectively, of time-vested RSUs to certain employees and officers. The RSUs granted vest in equal installments annually on the anniversary of the grant date over a three year period. The fair value of each RSU granted on May 7, 2018 and February 22, 2018 was measured using a price of $17.61 and $16.94 per share, respectively, which was the closing stock price on the date of grant. Each award will be expensed on a straight-line basis over the vesting period.

As RSUs vest for employees, a portion of the shares awarded is generally withheld to cover employee tax withholdings. As a result, the number of RSUs vested and the number of shares of TRI Pointe common stock issued will differ.

Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

The provision for income tax attributable to income before income taxes consisted of (in thousands):



	Year Ended December 31,
	2018			2017		2016
Current:
Federal	$	70,098		$	95,814	$	90,387
State	10,941			8,961		8,744
Total current taxes	81,039			104,775		99,131
Deferred:
Federal	(350		)	37,151		5,749
State	9,863			10,341		1,214
Total deferred taxes	9,513			47,492		6,963
Total income tax expense	$	90,552		$	152,267	$	106,094

The Company’s provision for income taxes was different from the amount computed by applying the statutory federal income tax rate of 21% to the underlying income before income taxes as a result of the following (in thousands):



	Year Ended December 31,
	2018			2017			2016
Taxes at the U.S. federal statutory rate	$	76,009		$	118,936		$	105,779
State income taxes, net of federal tax impact	13,603			10,712			9,539
Domestic production activities deduction	—			(7,108		)	(5,037		)
Non-deductible transaction costs	234			541			305
Change in valuation allowance	—			3,256			(4,038		)
Tax Cuts and Jobs Act	(740		)	21,961			—
Other, net	1,446			3,969			(454		)
Total income tax expense	$	90,552		$	152,267		$	106,094
Effective income tax rate	25.0		%	44.8		%	35.1		%

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax basis, and for operating loss and tax credit carryforwards. Deferred taxes consisted of the following at December 31, 2018 and 2017 (in thousands):



	Year Ended December 31,
	2018			2017
Deferred tax assets:
Impairment and other valuation reserves	$	37,573		$	40,438
Incentive compensation	5,946			5,851
Indirect costs capitalized	20,348			19,574
Net operating loss carryforwards (state)	18,702			25,172
State taxes	2,275			2,181
Other costs and expenses	10,848			11,354
Gross deferred tax assets	95,692			104,570
Valuation allowance	(3,449		)	(3,478		)
Deferred tax assets, net of valuation allowance	92,243			101,092
Deferred tax liabilities:
Interest capitalized	(7,355		)	(7,144		)
Basis difference in inventory	(8,170		)	(9,207		)
Fixed assets	(2,473		)	(1,710		)
Intangibles	(5,187		)	(5,360		)
Deferred financing costs	(802		)	(898		)
Other	(488		)	(360		)
Deferred tax liabilities	(24,475		)	(24,679		)
Net deferred tax assets	$	67,768		$	76,413

On December 22, 2017, the Tax Cuts and Jobs Act (“the Act”) was enacted, reducing the U.S. federal corporate income tax rate from 35% to 21%, among other changes. We applied the guidance in SAB 118 when accounting for the enactment-date effects of the Act in 2017 and throughout 2018. At December 31, 2017, we had not completed our accounting for all the enactment-date income tax effects of the Act under ASC 740, Income tax for the remeasurement of deferred tax assets and liabilities and the grandfathering provisions related to performance - based executive compensation.

At December 31, 2018, we have now completed our accounting for all of the enactment-date income tax effects of the Act. In the quarter ended December 31, 2017, the Company remeasured certain deferred tax assets and liabilities based on the rates at which they were expected to reverse in the future (which was generally 21%) by recording a provisional amount of $22.0 million. Upon further analysis of certain aspects of the Act and refinement of our calculations during the year ended December 31, 2018, the Company recorded a benefit of $740,000 due to favorable provision to return adjustments upon filing of the federal consolidated return.

The Company accounts for income taxes in accordance with ASC 740, which requires an asset and liability approach for measuring deferred taxes based on temporary differences between the financial statements and tax bases of assets and liabilities using enacted tax rates for the years in which taxes are expected to be paid or recovered. Each quarter we assess our deferred tax asset to determine whether all or any portion of the asset is more likely than not unrealizable under ASC 740. We are required to establish a valuation allowance for any portion of the asset we conclude is more likely than not to be unrealizable. Our assessment considers, among other things, the nature, frequency and severity of our current and cumulative losses, forecasts of our future taxable income, the duration of statutory carryforward periods and tax planning alternatives.

As of December 31, 2018, the Company had a state net operating loss carryforward of $283.3 million, which will expire between 2028 and 2036. As of December 31, 2018 and 2017, we had a valuation allowance on our deferred tax assets of $3.4 million and $3.5 million, respectively. Our valuation allowance increased in 2017 due to a $13.2 million impairment of our investment in a limited liability company joint venture for the entitlement and development of land located in a Los Angeles County, California that was recorded in the fourth quarter of 2017. A valuation allowance was recorded against the deferred tax asset related to this impairment due to the fact that the joint venture if disposed at its carrying value would result in a capital loss, the realization of which is uncertain.

The Company will continue to evaluate both positive and negative evidence in determining the need for a valuation allowance against its deferred tax assets. Changes in positive and negative evidence, including differences between the Company’s future operating results and the estimates utilized in the determination of the valuation allowance, could result in changes in the Company’s estimate of the valuation allowance against its deferred tax assets. The accounting for deferred taxes is based upon estimates of future results. Differences between the anticipated and actual outcomes of these future results could have a material impact on the Company’s consolidated results of operations or financial position. Also, changes in existing federal and state tax laws and tax rates could affect future tax results and the valuation allowance against the Company’s deferred tax assets.

Unrecognized tax benefits represent potential future obligations to taxing authorities if uncertain tax positions we have taken on previously filed tax returns are not sustained. These amounts represent the gross amount of exposure in individual jurisdictions and do not reflect any additional benefits expected to be realized if such positions were not sustained, such as federal deduction that could be realized if an unrecognized state deduction was not sustained.

The Company files income tax returns in the U.S., including federal and multiple state and local jurisdictions. The Company’s tax years 2015-2017 will remain open to examination by the federal and state authorities for three and four years, respectively, from the date of utilization of any net operating loss or credit carryforwards.

The following table summarizes the activity related to the Company’s gross unrecognized tax benefits (in thousands):



	Year Ended December 31,
	2018			2017
Balance at beginning of year	$	1,521		$	—
Increase (decrease) related to prior year tax positions	(507		)	1,521
Balance at end of year	$	1,014		$	1,521

The Company classifies interest and penalties related to income taxes as part of income tax expense. The Company has not recorded any tax expense for interest and penalties on uncertain tax positions during the years ended December 31, 2018, 2017 and 2016. The Company estimates that the uncertain tax positions, if reversed, would result in a tax benefit of approximately $972,000.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions We had no related party transactions for the years ended December 31, 2018 or 2017. In May of 2016, we entered into an agreement with an affiliate of Starwood Capital Group, a then greater than 5% holder of our common stock, to acquire 52 lots located in Azusa, California, for an aggregate purchase price of $18.4 million. In October of 2016, we acquired 27 of these lots for a purchase price of $9.6 million. Our former Chairman of the Board is also the Chairman and Chief Executive Officer of Starwood Capital Group. This acquisition was approved by our independent directors. In January of 2015, TRI Pointe acquired 46 lots located in Castle Rock, Colorado, for a purchase price of approximately $2.8 million from an entity managed by an affiliate of Starwood Capital Group. In August of 2016, we agreed to purchase 257 additional lots for an aggregate purchase price of approximately $8.6 million. In October of 2016, we acquired 126 of these lots for a purchase price of $4.2 million. This acquisition was approved by our independent directors. As of March 27, 2017, Starwood Capital Group is no longer a related party.

Supplemental Disclosure to Consolidated Statement of Cash Flow

12 Months Ended

Dec. 31, 2018

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosure to Consolidated Statement of Cash Flow

The following are supplemental disclosures to the consolidated statements of cash flows (in thousands):



	Year Ended December 31,
	2018		2017			2016
Supplemental disclosure of cash flow information:
Cash paid during the period for:
Interest, net of amounts capitalized of $82,034, $77,193 and $53,028	$	—	$	—		$	—
Income taxes	$	102,149	$	74,388		$	117,215
Supplemental disclosures of noncash activities:
Accrued liabilities related to the purchase of operating properties and equipment	$	685	$	—		$	1,828
Amortization of senior note discount capitalized to real estate inventory	$	2,112	$	2,048		$	1,815
Amortization of deferred loan costs capitalized to real estate inventory	$	5,927	$	5,578		$	4,642
Increase in other assets related to adoption of ASC 606	$	39,534	$	—		$	—
Effect of net consolidation and de-consolidation of variable interest entities:
(Decrease) increase in consolidated real estate inventory not owned	$	—	$	(17,485	)	$	(316	)
Decrease (increase) in noncontrolling interests	$	—	$	17,485		$	316

Supplemental Guarantor Information

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

Supplemental Guarantor Information

2021 Notes and 2027 Notes

On May 26, 2016, TRI Pointe Group issued the 2021 Notes. On June 5, 2017, TRI Pointe Group issued the 2027 Notes. All of TRI Pointe Group’s 100% owned subsidiaries that are guarantors (each a “Guarantor” and, collectively, the “Guarantors”) of the Credit Facility, including TRI Pointe Homes, are party to supplemental indentures pursuant to which they jointly and severally guarantee TRI Pointe Group’s obligations with respect to the 2021 Notes and the 2027 Notes. Each Guarantor of the 2021 Notes and the 2027 Notes is 100% owned by TRI Pointe Group, and all guarantees are full and unconditional, subject to customary exceptions pursuant to the indentures governing the 2021 Notes and the 2027 Notes, as described in the following paragraph. All of our non-Guarantor subsidiaries have nominal assets and operations and are considered minor, as defined in Rule 3-10(h) of Regulation S-X. In addition, TRI Pointe Group has no independent assets or operations, as defined in Rule 3-10(h) of Regulation S-X. There are no significant restrictions upon the ability of TRI Pointe Group or any Guarantor to obtain funds from any of their respective wholly owned subsidiaries by dividend or loan. None of the assets of our subsidiaries represent restricted net assets pursuant to Rule 4-08(e)(3) of Regulation S-X.

A Guarantor of the 2021 Notes and the 2027 Notes shall be released from all of its obligations under its guarantee if (i) all of the assets of the Guarantor have been sold; (ii) all of the equity interests of the Guarantor held by TRI Pointe Group or a subsidiary thereof have been sold; (iii) the Guarantor merges with and into TRI Pointe Group or another Guarantor, with TRI Pointe Group or such other Guarantor surviving the merger; (iv) the Guarantor is designated “unrestricted” for covenant purposes; (v) the Guarantor ceases to guarantee any indebtedness of TRI Pointe Group or any other Guarantor which gave rise to such Guarantor guaranteeing the 2021 Notes or the 2027 Notes; (vi) TRI Pointe Group exercises its legal defeasance or covenant defeasance options; or (vii) all obligations under the applicable supplemental indenture are discharged.

2019 Notes and 2024 Notes

TRI Pointe Group and TRI Pointe Homes are co-issuers of the 2019 Notes and the 2024 Notes. All of the Guarantors (other than TRI Pointe Homes) have entered into supplemental indentures pursuant to which they jointly and severally guarantee the obligations of TRI Pointe Group and TRI Pointe Homes with respect to the 2019 Notes and the 2024 Notes. Each Guarantor of the 2019 Notes and the 2024 Notes is 100% owned by TRI Pointe Group and TRI Pointe Homes, and all guarantees are full and unconditional, subject to customary exceptions pursuant to the indentures governing the 2019 Notes and the 2024 Notes, as described below.

A Guarantor of the 2019 Notes and the 2024 Notes shall be released from all of its obligations under its guarantee if (i) all of the assets of the Guarantor have been sold; (ii) all of the equity interests of the Guarantor held by TRI Pointe or a subsidiary thereof have been sold; (iii) the Guarantor merges with and into TRI Pointe or another Guarantor, with TRI Pointe or such other Guarantor surviving the merger; (iv) the Guarantor is designated “unrestricted” for covenant purposes; (v) the Guarantor ceases to guarantee any indebtedness of TRI Pointe or any other Guarantor which gave rise to such Guarantor guaranteeing the 2019 Notes and 2024 Notes; (vi) TRI Pointe exercises its legal defeasance or covenant defeasance options; or (vii) all obligations under the applicable indenture are discharged.

Presented below are the condensed consolidating balance sheets at December 31, 2018 and December 31, 2017, condensed consolidating statements of operations for the full years ended December 31, 2018, 2017 and 2016, and condensed consolidating statements of cash flows for the full years ended December 31, 2018, 2017 and 2016. Because TRI Pointe’s non-Guarantor subsidiaries are considered minor, as defined in Rule 3-10(h) of Regulation S-X, the non-Guarantor subsidiaries’ information is not separately presented in the tables below, but is included with the Guarantors. Additionally, because TRI Pointe Group has no independent assets or operations, as defined in Rule 3-10(h) of Regulation S-X, the condensed consolidated financial information of TRI Pointe Group and TRI Pointe Homes, the co-issuers of the 2019 Notes and 2024 Notes, is presented together in the column titled “Issuer”.

Condensed Consolidating Balance Sheet (in thousands):



	December 31, 2018
	Issuer		Guarantor Subsidiaries		Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Assets
Cash and cash equivalents	$	148,129	$	129,567	$	—		$	277,696
Receivables	16,589		35,003		—			51,592
Intercompany receivables	758,501		—		(758,501		)	—
Real estate inventories	812,799		2,403,260		—			3,216,059
Investments in unconsolidated entities	—		5,410		—			5,410
Goodwill and other intangible assets, net	156,604		3,823		—			160,427
Investments in subsidiaries	1,672,635		—		(1,672,635		)	—
Deferred tax assets, net	14,822		52,946		—			67,768
Other assets	12,984		92,267		—			105,251
Total Assets	$	3,593,063	$	2,722,276	$	(2,431,136	)	$	3,884,203

Liabilities
Accounts payable	$	13,433	$	67,880	$	—		$	81,313
Intercompany payables	—		758,501		(758,501		)	—
Accrued expenses and other liabilities	111,902		223,247		—			335,149
Senior notes, net	1,410,804		—		—			1,410,804
Total Liabilities	1,536,139		1,049,628		(758,501		)	1,827,266
Equity
Total stockholders’ equity	2,056,924		1,672,635		(1,672,635		)	2,056,924
Noncontrolling interests	—		13		—			13
Total Equity	2,056,924		1,672,648		(1,672,635		)	2,056,937
Total Liabilities and Equity	$	3,593,063	$	2,722,276	$	(2,431,136	)	$	3,884,203

Condensed Consolidating Balance Sheet (in thousands):



	December 31, 2017
	Issuer		Guarantor Subsidiaries		Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Assets
Cash and cash equivalents	$	176,684	$	106,230	$	—		$	282,914
Receivables	56,021		69,579		—			125,600
Intercompany receivables	794,550		—		(794,550		)	—
Real estate inventories	855,727		2,249,826		—			3,105,553
Investments in unconsolidated entities	—		5,870		—			5,870
Goodwill and other intangible assets, net	156,604		4,357		—			160,961
Investments in subsidiaries	1,448,690		—		(1,448,690		)	—
Deferred tax assets, net	10,892		65,521		—			76,413
Other assets	3,465		44,605		—			48,070
Total Assets	$	3,502,633	$	2,545,988	$	(2,243,240	)	$	3,805,381

Liabilities
Accounts payable	$	9,364	$	63,506	$	—		$	72,870
Intercompany payables	—		794,550		(794,550		)	—
Accrued expenses and other liabilities	92,245		238,637		—			330,882
Senior notes, net	1,471,302		—		—			1,471,302
Total Liabilities	1,572,911		1,096,693		(794,550		)	1,875,054
Equity
Total stockholders’ equity	1,929,722		1,448,690		(1,448,690		)	1,929,722
Noncontrolling interests	—		605		—			605
Total Equity	1,929,722		1,449,295		(1,448,690		)	1,930,327
Total Liabilities and Equity	$	3,502,633	$	2,545,988	$	(2,243,240	)	$	3,805,381

Condensed Consolidating Statement of Operations (in thousands):



	Year Ended December 31, 2018
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Homebuilding:
Home sales revenue	$	1,073,592		$	2,170,495		$	—		$	3,244,087
Land and lot sales revenue	—			8,758			—			8,758
Other operations revenue	—			8,164			—			8,164
Total revenues	1,073,592			2,187,417			—			3,261,009
Cost of home sales	877,928			1,658,971			—			2,536,899
Cost of land and lot sales	17,500			7,935			—			25,435
Other operations expense	—			3,174			—			3,174
Sales and marketing	48,593			138,674			—			187,267
General and administrative	78,669			76,361			—			155,030
Homebuilding income from operations	50,902			302,302			—			353,204
Equity in loss of unconsolidated entities	—			(393		)	—			(393		)
Other (loss) income, net	(623		)	204			—			(419		)
Homebuilding income before taxes	50,279			302,113			—			352,392
Financial Services:
Revenues	—			1,738			—			1,738
Expenses	—			582			—			582
Equity in income of unconsolidated entities	—			8,517			—			8,517
Financial services income before taxes	—			9,673			—			9,673
Income before taxes	50,279			311,786			—			362,065
Provision for income taxes	(13,084		)	(77,468		)	—			(90,552		)
Equity of net income (loss) of subsidiaries	232,716			—			(232,716		)	—
Net income (loss)	269,911			234,318			(232,716		)	271,513
Net income attributable to noncontrolling interests	—			(1,602		)	—			(1,602		)
Net income (loss) available to common stockholders	$	269,911		$	232,716		$	(232,716	)	$	269,911

Condensed Consolidating Statement of Operations (in thousands):



	Year Ended December 31, 2017
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Homebuilding:
Home sales revenue	$	927,247		$	1,805,052		$	—		$	2,732,299
Land and lot sales revenue	—			74,269			—			74,269
Other operations revenue	—			2,333			—			2,333
Total revenues	927,247			1,881,654			—			2,808,901
Cost of home sales	780,732			1,392,519			—			2,173,251
Cost of land and lot sales	—			14,888			—			14,888
Other operations expense	—			2,298			—			2,298
Sales and marketing	34,286			102,780			—			137,066
General and administrative	67,006			70,758			—			137,764
Homebuilding income from operations	45,223			298,411			—			343,634
Equity in loss of unconsolidated entities	—			(11,433		)	—			(11,433		)
Other income, net	38			113			—			151
Homebuilding income before taxes	45,261			287,091			—			332,352
Financial Services:
Revenues	—			1,371			—			1,371
Expenses	—			331			—			331
Equity in income of unconsolidated entities	—			6,426			—			6,426
Financial services income before taxes	—			7,466			—			7,466
Income before taxes	45,261			294,557			—			339,818
Provision for income taxes	(22,501		)	(129,766		)	—			(152,267		)
Equity of net income (loss) of subsidiaries	164,431			—			(164,431		)	—
Net income (loss)	187,191			164,791			(164,431		)	187,551
Net income attributable to noncontrolling interests	—			(360		)	—			(360		)
Net income (loss) available to common stockholders	$	187,191		$	164,431		$	(164,431	)	$	187,191

Condensed Consolidating Statement of Operations (in thousands):



	Year Ended December 31, 2016
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Homebuilding:
Home sales revenue	$	723,186		$	1,606,150		$	—		$	2,329,336
Land and lot sales revenue	—			72,272			—			72,272
Other operations revenue	—			2,314			—			2,314
Total revenues	723,186			1,680,736			—			2,403,922
Cost of home sales	607,316			1,229,011			—			1,836,327
Cost of land and lot sales	—			17,367			—			17,367
Other operations expense	—			2,247			—			2,247
Sales and marketing	29,092			98,811			—			127,903
General and administrative	59,327			64,792			—			124,119
Homebuilding income from operations	27,451			268,508			—			295,959
Equity in income of unconsolidated entities	—			179			—			179
Other (loss) income, net	149			163			—			312
Homebuilding income before taxes	27,600			268,850			—			296,450
Financial Services:
Revenues	—			1,220			—			1,220
Expenses	—			253			—			253
Equity in income of unconsolidated entities	—			4,810			—			4,810
Financial services income before taxes	—			5,777			—			5,777
Income before taxes	27,600			274,627			—			302,227
Provision for income taxes	(11,322		)	(94,772		)	—			(106,094		)
Equity of net income (loss) of subsidiaries	178,893			—			(178,893		)	—
Net income (loss)	195,171			179,855			(178,893		)	196,133
Net income attributable to noncontrolling interests	—			(962		)	—			(962		)
Net income (loss) available to common stockholders	$	195,171		$	178,893		$	(178,893	)	$	195,171

Condensed Consolidating Statement of Cash Flows (in thousands):



	Year Ended December 31, 2018
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Cash flows from operating activities:
Net cash provided by operating activities	$	156,976		$	153,686		$	—		$	310,662
Cash flows from investing activities:
Purchases of property and equipment	(8,038		)	(23,613		)	—			(31,651		)
Proceeds from sale of property and equipment	—			8			—			8
Investments in unconsolidated entities	—			(2,274		)	—			(2,274		)
Intercompany	40,781			—			(40,781		)	—
Net cash paid for acquisition	—			(61,495		)	—			(61,495		)
Net cash provided by (used in) investing activities	32,743			(87,374		)	(40,781		)	(95,412		)
Cash flows from financing activities:
Borrowings from debt	125,000			—			—			125,000
Repayment of debt	(193,105		)	—			—			(193,105		)
Debt issuance costs	—			—			—			—
Distributions to noncontrolling interests	—			(2,194		)	—			(2,194		)
Proceeds from issuance of common stock under share-based awards	1,943			—			—			1,943
Minimum tax withholding paid on behalf of employees for share-based awards	(6,049		)	—			—			(6,049		)
Share repurchases	(146,063		)	—			—			(146,063		)
Intercompany	—			(40,781		)	40,781			—
Net cash (used in) provided by financing activities	(218,274		)	(42,975		)	40,781			(220,468		)
Net (decrease) increase in cash and cash equivalents	(28,555		)	23,337			—			(5,218		)
Cash and cash equivalents - beginning of year	176,684			106,230			—			282,914
Cash and cash equivalents - end of year	$	148,129		$	129,567		$	—		$	277,696

Condensed Consolidating Statement of Cash Flows (in thousands):



	Year Ended December 31, 2017
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Cash flows from operating activities:
Net cash provided by operating activities	$	73,208		$	28,466		$	—		$	101,674
Cash flows from investing activities:
Purchases of property and equipment	(1,424		)	(1,181		)	—			(2,605		)
Proceeds from sale of property and equipment	—			6			—			6
Investments in unconsolidated entities	—			(980		)	—			(980		)
Intercompany	(14,163		)	—			14,163			—
Net cash (used in) provided by investing activities	(15,587		)	(2,155		)	14,163			(3,579		)
Cash flows from financing activities:
Borrowings from debt	500,000			—			—			500,000
Repayment of debt	(413,726		)	—			—			(413,726		)
Debt issuance costs	(5,957		)	—			—			(5,957		)
Distributions to noncontrolling interests	—			(1,333		)	—			(1,333		)
Proceeds from issuance of common stock under share-based awards	12,291			—			—			12,291
Minimum tax withholding paid on behalf of employees for share-based awards	(2,896		)	—			—			(2,896		)
Share repurchases	(112,217		)	—			—			(112,217		)
Intercompany	—			14,163			(14,163		)	—
Net cash (used in) provided by financing activities	(22,505		)	12,830			(14,163		)	(23,838		)
Net increase in cash and cash equivalents	35,116			39,141			—			74,257
Cash and cash equivalents - beginning of year	141,568			67,089			—			208,657
Cash and cash equivalents - end of year	$	176,684		$	106,230		$	—		$	282,914

Condensed Consolidating Statement of Cash Flows (in thousands):



	Year Ended December 31, 2016
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Cash flows from operating activities:
Net cash (used in) provided by operating activities	$	(179,397	)	$	21,087		$	—		$	(158,310	)
Cash flows from investing activities:
Purchases of property and equipment	(1,603		)	(2,382		)	—			(3,985		)
Proceeds from sale of property and equipment	—			9			—			9
Investments in unconsolidated entities	—			(32		)	—			(32		)
Intercompany	12,102			—			(12,102		)	—
Net cash provided by (used in) investing activities	10,499			(2,405		)	(12,102		)	(4,008		)
Cash flows from financing activities:
Borrowings from debt	541,069			—			—			541,069
Repayment of debt	(330,458		)	(400		)	—			(330,858		)
Debt issuance costs	(5,062		)	—			—			(5,062		)
Repayment of debt payable to Weyerhaeuser	—			(2,442		)	—			(2,442		)
Decrease in book overdrafts	—			1,955			—			1,955
Distributions to Weyerhaeuser	—			(5,318		)	—			(5,318		)
Proceeds from issuance of common stock under share-based awards	587			—			—			587
Minimum tax withholding paid on behalf of employees for share-based awards	(1,359		)	—			—			(1,359		)
Share repurchases	(42,082		)	—			—			(42,082		)
Intercompany	—			(12,102		)	12,102			—
Net cash provided by (used in) financing activities	162,695			(18,307		)	12,102			156,490
Net (decrease) increase in cash and cash equivalents	(6,203		)	375			—			(5,828		)
Cash and cash equivalents - beginning of year	147,771			66,714			—			214,485
Cash and cash equivalents - end of year	$	141,568		$	67,089		$	—		$	208,657

Results of Quarterly Operations

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Results of Quarterly Operations

Results of Quarterly Operations (Unaudited)

The following table presents our unaudited quarterly financial data (in thousands, except per share amounts).



	First		Second		Third		Fourth
2018	Quarter		Quarter		Quarter		Quarter
Total revenues⁽¹⁾	$	583,676	$	771,303	$	775,071	$	1,132,697
Cost of homes sales and other⁽²⁾	451,607		606,111		609,877		897,913
Gross margin	$	132,069	$	165,192	$	165,194	$	234,784
Net income	$	42,880	$	63,680	$	63,969	$	100,984
Net income attributable to noncontrolling interests	—		—		—		(1,602		)
Net income available to common stockholders	$	42,880	$	63,680	$	63,969	$	99,382

Earnings per share
Basic	$	0.28	$	0.42	$	0.43	$	0.70
Diluted	$	0.28	$	0.42	$	0.43	$	0.70

__________

⁽¹⁾ Total revenues includes total homebuilding revenues and financial services revenue.

⁽²⁾ Cost of homes sales and other includes cost of homes sales, cost of land and lot sales, and other operations expense.



	First			Second			Third			Fourth
2017	Quarter			Quarter			Quarter			Quarter
Total revenues⁽¹⁾	$	393,391		$	570,626		$	717,735		$	1,128,520
Cost of homes sales and other⁽²⁾	319,618			455,476			534,494			880,849
Gross margin	$	73,773		$	115,150		$	183,241		$	247,671
Net income	$	8,217		$	32,803		$	72,289		$	74,242
Net income attributable to noncontrolling interests	(24		)	(89		)	(25		)	(222		)
Net income available to common stockholders	$	8,193		$	32,714		$	72,264		$	74,020

Earnings per share
Basic	$	0.05		$	0.21		$	0.48		$	0.49
Diluted	$	0.05		$	0.21		$	0.48		$	0.49

__________

⁽¹⁾ Total revenues includes total homebuilding revenues and financial services revenue.

⁽²⁾ Cost of homes sales and other includes cost of homes sales, cost of land and lot sales, and other operations expense.

Quarterly and year-to-date computations of per share amounts are made independently. Therefore, the sum of per share amounts for the quarter may not agree with per share amounts for the year.

Organization and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Organization, Formation of TRI Pointe Group and Basis of Presentation

Organization

TRI Pointe Group, Inc. (“TRI Pointe Group”) is engaged in the design, construction and sale of innovative single-family attached and detached homes through its portfolio of six quality brands across ten states, including Maracay in Arizona, Pardee Homes in California and Nevada, Quadrant Homes in Washington, Trendmaker Homes in Texas, TRI Pointe Homes in California, Colorado and the Carolinas and Winchester Homes in Maryland and Virginia.

Basis of Presentation

The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”).

The consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries as well as other entities in which the Company has a controlling interest and variable interest entities (“VIEs”) in which the Company is the primary beneficiary. The noncontrolling interests as of December 31, 2018 and 2017 represent the outside owners’ interests in the Company’s consolidated entities and the net equity of the VIE owners. All significant intercompany accounts have been eliminated upon consolidation.

Unless the context otherwise requires, the terms “we”, “us”, “our” and “the Company” used herein refer to TRI Pointe Group and its consolidated subsidiaries

Reclassifications

Certain amounts in our consolidated financial statements for prior years have been reclassified to conform to the current period presentation, including the Company's condensed reporting of restructuring charges, included in general and administrative expense on the consolidated statements of operations in this annual report on Form 10-K.

Use of Estimates

Our financial statements have been prepared in accordance with GAAP. The preparation of these financial statements requires our management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from our estimates.

Subsequent Events

We evaluated subsequent events up until our consolidated financial statements were filed with the Securities and Exchange Commission.

Cash and Cash Equivalents and Concentration of Credit Risk

We define cash and cash equivalents as cash on hand, demand deposits with financial institutions, and short-term liquid investments with a maturity date of less than three months from the date of acquisition. The Company’s cash balances exceed federally insurable limits. The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts.

Revenue Recognition

In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Codified as “ASC 606”). ASC 606 supersedes the revenue-recognition requirements in ASC Topic 605, Revenue Recognition, most industry-specific guidance throughout the industry topics of the accounting standards codification, and eliminates certain cost guidance related to construction-type and production-type contracts in accordance with ASC 970. In addition, ASC 606 includes Subtopic 340-40, Other Assets and Deferred Costs - Contracts with Customers, which provided updated guidance related to certain costs incurred in obtaining and fulfilling contracts with customers. Collectively, we refer to ASC 606 and Subtopic 340-40 as ASC 606 throughout this filing. The core principle of ASC 606 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: identify the contract(s) with a customer; identify the performance obligations in the contract; determine the transaction price; allocate the transaction price to the performance obligations in the contract; and recognize revenue when (or as) the entity satisfies a performance obligation. We have adopted and applied this updated revenue recognition and cost policy as of January 1, 2018. See Adoption of New Accounting Standards below.

The majority of our revenue is related to fixed-price contracts to deliver completed homes to homebuyers, and to a much lesser degree, to deliver land or lots to other homebuilders or real estate developers. We generally deliver completed homes to homebuyers and land and lots to other homebuilders or real estate developers when all closing conditions are met, including the passage of title and the receipt of consideration, and the collection of associated receivables, if any, is reasonably assured. When it is determined that there are uncompleted performance obligations, the transaction price and the related profit for those uncompleted performance obligations are deferred for recognition in future periods based on the principles of ASC 606. The most common examples of uncompleted performance obligations are unfinished pools or outdoor landscaping features that are unable to be completed due to weather or other circumstances.

Following the adoption of ASC 606, the timing of revenue recognition for all of our contracts remained materially consistent with our historical revenue recognition policy due to the nature of our revenue generating activities, with the most common difference under ASC 606 relating to the deferral of revenue due to these uncompleted performance obligations at the time we deliver new homes to our homebuyers.

When we enter into a contract with a homebuyer, we sometimes receive a nonrefundable deposit that is recognized as revenue under circumstances in which a contract is canceled by the homebuyer. These amounts are recognized as home sales revenue at the time a contract is canceled by the homebuyer. We have not experienced significant contract modifications impacting the timing of revenue recognition under ASC 606, nor will we be required to use estimates in the application of the core revenue recognition principles.

Real Estate Inventories and Cost of Sales

Real estate inventories consist of land, land under development, homes under construction, completed homes and model homes and are stated at cost, net of impairment losses. We capitalize direct carrying costs, including interest, property taxes and related development costs to inventories. Field construction supervision and related direct overhead are also included in the capitalized cost of inventories. Direct construction costs are specifically identified and allocated to homes while other common costs, such as land, land improvements and carrying costs, are allocated to homes within a community based upon their anticipated relative sales or fair value. In accordance with ASC Topic 835, Interest (“ASC 835”), homebuilding interest capitalized as a cost of inventories owned is included in costs of sales as related units or lots are sold. To the extent our debt exceeds our qualified assets as defined in ASC 835, we expense a portion of the interest incurred by us. Qualified assets represent projects that are actively under development. Homebuilding cost of sales is recognized at the same time revenue is recognized and is recorded based upon total estimated costs to be allocated to each home within a community. Any changes to the estimated costs are allocated to the remaining undelivered lots and homes within their respective community. The estimation and allocation of these costs require a substantial degree of judgment by management.

The estimation process involved in determining relative sales or fair values is inherently uncertain because it involves estimating future sales values of homes before delivery. Additionally, in determining the allocation of costs to a particular land parcel or individual home, we rely on project budgets that are based on a variety of assumptions, including assumptions about construction schedules and future costs to be incurred. It is common that actual results differ from budgeted amounts for various reasons, including construction delays, increases in costs that have not been committed or unforeseen issues encountered during construction that fall outside the scope of existing contracts, or costs that come in less than originally anticipated. While the actual results for a particular construction project are accurately reported over time, a variance between the budget and actual costs could result in the understatement or overstatement of costs and have a related impact on gross margins between reporting periods. To reduce the potential for such variances, we have procedures that have been applied on a consistent basis, including assessing and revising project budgets on a periodic basis, obtaining commitments from subcontractors and vendors for future costs to be incurred and utilizing the most recent information available to estimate costs.

If there are indications of impairment, we perform a detailed budget and cash flow review of our real estate assets to determine whether the estimated remaining undiscounted future cash flows of the community are more or less than the asset’s carrying value. If the undiscounted cash flows are more than the asset’s carrying value, no impairment adjustment is required. However, if the undiscounted cash flows are less than the asset’s carrying value, the asset is deemed impaired and is written down to fair value. These impairment evaluations require us to make estimates and assumptions regarding future conditions, including timing and amounts of development costs and sales prices of real estate assets, to determine if expected future undiscounted cash flows will be sufficient to recover the asset’s carrying value.

When estimating undiscounted cash flows of a community, we make various assumptions, including: (i) expected sales prices and sales incentives to be offered, including the number of homes available, pricing and incentives being offered by us or other builders in other communities, and future sales price adjustments based on market and economic trends; (ii) expected sales pace and cancellation rates based on local housing market conditions, competition and historical trends; (iii) costs expended to date and expected to be incurred including, but not limited to, land and land development costs, home construction costs, interest costs, indirect construction and overhead costs, and selling costs; (iv) alternative product offerings that may be offered that could have an impact on sales pace, sales price and/or building costs; and (v) alternative uses for the property.

Many assumptions are interdependent and a change in one may require a corresponding change to other assumptions. For example, increasing or decreasing monthly sales absorption rates has a direct impact on the estimated per unit sales price of a home and the level of time sensitive costs (such as indirect construction, overhead and carrying costs). Depending on the underlying objective of the community, assumptions could have a significant impact on the projected cash flow analysis. For example, if our objective is to preserve operating margins, our cash flow analysis will be different than if the objective is to increase sales. These objectives may vary significantly from community to community and over time.

If assets are considered impaired, impairment is determined by the amount the asset’s carrying value exceeds its fair value. Fair value is determined based on estimated future cash flows discounted for inherent risks associated with real estate assets. These discounted cash flows are impacted by expected risk based on estimated land development, construction and delivery timelines; market risk of price erosion; uncertainty of development or construction cost increases; and other risks specific to the asset or market conditions where the asset is located when assessment is made. These factors are specific to each community and may vary among communities. We perform a quarterly review for indicators of impairment. For the years ended December 31, 2018 and December 31, 2016, we did not incur any real estate inventory impairment charges. For the year ended December 31, 2017, we recorded impairment charges of $854,000.

Warranty Reserves

In the normal course of business, we incur warranty-related costs associated with homes that have been delivered to homebuyers. Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related home sales revenues are recognized while indirect warranty overhead salaries and related costs are charged to cost of sales in the period incurred. Factors that affect the warranty accruals include the number of homes delivered, historical and anticipated rates of warranty claims and cost per claim. Our primary assumption in estimating the amounts we accrue for warranty costs is that historical claims experience is a strong indicator of future claims experience. In addition, we maintain general liability insurance designed to protect us against a portion of our risk of loss from warranty and construction-related claims. We also generally require our subcontractors and design professionals to indemnify us for liabilities arising from their work, subject to various limitations. However, such indemnity is significantly limited with respect to certain subcontractors that are added to our general liability insurance policy.

Our warranty reserve is based on actuarial analysis that uses our historical claim and expense data, as well as industry data to estimate these overall costs. Key assumptions used in developing these estimates include claim frequencies, severities and resolution patterns, which can occur over an extended period of time. These estimates are subject to variability due to the length of time between the delivery of a home to a homebuyer and when a warranty or construction defect claim is made, and the ultimate resolution of such claim; uncertainties regarding such claims relative to our markets and the types of product we build; and legal or regulatory actions and/or interpretations, among other factors. Due to the degree of judgment involved and the potential for variability in these underlying assumptions, our actual future costs could differ from those estimated. There can be no assurance that the terms and limitations of the limited warranty will be effective against claims made by homebuyers, that we will be able to renew our insurance coverage or renew it at reasonable rates, that we will not be liable for damages, cost of repairs, and/or the expense of litigation surrounding possible construction defects, soil subsidence or building related claims or that claims will not arise out of uninsurable events or circumstances not covered by insurance and not subject to effective indemnification agreements with certain subcontractors.

We also record expected recoveries from insurance carriers based on actual insurance claims made and actuarially determined amounts that depend on various factors, including, the above-described reserve estimates, our insurance policy coverage limits for the applicable policy years and historical recovery rates. Because of the inherent uncertainty and variability in these assumptions, our actual insurance recoveries could differ significantly from amounts currently estimated.

Investments in Unconsolidated Entities

We have investments in unconsolidated entities over which we have significant influence that we account for using the equity method with taxes provided on undistributed earnings. We record earnings and accrue taxes in the period that the earnings are recorded by our affiliates. Under the equity method, our share of the unconsolidated entities’ earnings or loss is included in equity in (loss) income of unconsolidated entities in the accompanying consolidated statements of operations. We evaluate our investments in unconsolidated entities for impairment when events and circumstances indicate that the carrying value of the investment has been impaired beyond a temporary period of time.

Variable Interest Entities

The Company accounts for variable interest entities in accordance with ASC Topic 810, Consolidation (“ASC 810”). Under ASC 810, a variable interest entity (“VIE”) is created when: (a) the equity investment at risk in the entity is not sufficient to permit the entity to finance its activities without additional subordinated financial support provided by other parties, including the equity holders; (b) the entity’s equity holders as a group (i) lack the direct or indirect ability to make decisions about the entity, (ii) are not obligated to absorb expected losses of the entity or (iii) do not have the right to receive expected residual returns of the entity; or (c) the entity’s equity holders have voting rights that are not proportionate to their economic interests, and the activities of the entity involve, or are conducted on behalf of, the equity holder with disproportionately few voting rights. If an entity is deemed to be a VIE pursuant to ASC 810, the enterprise that has both (a) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (b) the obligation to absorb the expected losses of the entity or right to receive benefits from the entity that could be potentially significant to the VIE is considered the primary beneficiary and must consolidate the VIE.

Under ASC 810, a non-refundable deposit paid to an entity is deemed to be a variable interest that will absorb some or all of the entity’s expected losses if they occur. Our land purchase and lot option deposits generally represent our maximum exposure to the land seller if we elect not to purchase the optioned property. In some instances, we may also expend funds for due diligence, development and construction activities with respect to optioned land prior to takedown. Such costs are classified as inventories owned, which we would have to write off should we not exercise the option. Therefore, whenever we enter into a land option or purchase contract with an entity and make a non-refundable deposit, a VIE may have been created. In accordance with ASC 810, we perform ongoing reassessments of whether we are the primary beneficiary of a VIE.

Stock-Based Compensation

We account for share-based awards in accordance with ASC Topic 718, Compensation-Stock Compensation (“ASC 718”). ASC 718 requires that the cost resulting from all share-based payment transactions be recognized in the financial statements. ASC 718 requires all entities to apply a fair-value-based measurement method in accounting for share-based payment transactions with employees. Share-based awards are expensed on a straight-line basis over the expected vesting period.

Sales and Marketing Expense

Following the adoption of ASC 606 on January 1, 2018, costs incurred for tangible assets directly used in the sales process that were previously capitalized to real estate inventories and amortized to cost of home sales, such as our sales offices, and model landscaping and furnishings, are capitalized to other assets and amortized to selling expense as the underlying homes are delivered. All other sales and marketing costs that were previously capitalized to real estate inventories and amortized to cost of home sales, such as advertising signage, brochures, and model and sales office conversion costs are expensed as incurred as selling expense.

Income Taxes

We account for income taxes in accordance with ASC Topic 740, Income Taxes (“ASC 740”). Deferred tax assets and liabilities are recorded based on future tax consequences of both temporary differences between the amounts reported for financial reporting purposes and the amounts deductible for income tax purposes, and are measured using enacted tax rates expected to apply in the years in which the temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period when the changes are enacted.

Each quarter we assess our deferred tax assets to determine whether all or any portion of the assets is more likely than not unrealizable under ASC 740. We are required to establish a valuation allowance for any portion of the asset we conclude is more likely than not to be unrealizable. Our assessment considers, among other things, the nature, frequency and severity of our current and cumulative losses, forecasts of our future taxable income, the duration of statutory carryforward periods and tax planning alternatives. Due to uncertainties inherent in the estimation process, it is possible that actual results may vary from estimates.

The enactment of the Tax Cuts and Jobs Act in the fourth quarter of 2017, among other things, reduced the federal corporate tax rate to 21% from 35%, effective January 1, 2018. This resulted in a $22.0 million reduction in our deferred tax asset for the year ended December 31, 2017. For further details, see Note 15, Income Taxes.

We classify any interest and penalties related to income taxes as part of income tax expense.

Business Combinations

We account for business combinations in accordance with ASC Topic 805, Business Combinations, if the assets acquired and liabilities assumed constitute a business. For acquired companies constituting a business, we recognize the identifiable assets acquired and liabilities assumed at their acquisition-date fair values and recognize any excess of total consideration paid over the fair value of the identifiable assets as goodwill.

Goodwill and Other Intangible Assets

In accordance with ASC Topic 350, Intangibles-Goodwill and Other (“ASC 350”), we evaluate goodwill and indefinite-lived intangible assets for impairment on an annual basis, or more frequently if events or changes in circumstances between annual tests indicate that it is more likely than not that the asset is impaired. We have identified one reporting unit with goodwill, TRI Pointe Homes, and performed our annual goodwill impairment evaluation as of October 1, 2018. For further details on goodwill, see Note 8, Goodwill and Other Intangible Assets.

For our TRI Pointe Homes reporting unit, we performed a qualitative assessment to determine whether it is more likely than not that its fair value is less than its carrying amount. Upon completion of the October 2018 annual impairment assessment, we determined that no goodwill impairment was indicated. As of December 31, 2018, we are not aware of any significant indicators of impairment that exist for our goodwill that would require additional analysis.

An impairment of our indefinite-lived intangible asset is based on a comparison of its fair value to book value, without consideration of any recoverability due to the indefinite nature of the asset. As of December 31, 2018, we believe that our indefinite-lived intangible asset continues to have an indefinite life and that its fair value exceeds its carrying value. For further details on our indefinite-lived intangible asset, see Note 8, Goodwill and Other Intangible Assets.

In accordance with ASC Topic 360, Property, Plant and Equipment ("ASC 360"), we evaluate finite-lived intangible assets for impairment on an annual basis, or more frequently if events or changes in circumstances between annual tests indicate that it is more likely than not that the asset is impaired. An impairment in the carrying value of our finite-lived intangible asset is recognized whenever anticipated future undiscounted cash flows from the asset become unrecoverable and are estimated to be less than its carrying value. As of December 31, 2018, we believe that the carrying value of our finite-lived intangible asset is recoverable and that its fair value is greater than its carrying value. For further details on our finite-lived intangible asset, see Note 8, Goodwill and Other Intangible Assets.

Significant management judgment is required in the forecasts of future operating results that are used in our impairment evaluations. Our estimates are consistent with the plans and estimates that we use to manage our business. It is possible, however, that the plans may change and estimates used may prove to be inaccurate. If our actual results, or the plans and estimates used in future impairment analyses, are lower than the original estimates used to assess the recoverability of these assets, we could incur future impairment charges.

Recently Issued Accounting Standards

Recently Issued Accounting Standards Not Yet Adopted

In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Codified as “ASC 842”), which requires an entity to recognize assets and liabilities on the balance sheet for the rights and obligations created by leases with durations of greater than 12 months, but record expenses on the statements of operations in a manner similar to current accounting. The guidance also requires more disclosures about leases in the notes to consolidated financial statements. ASC 842 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and, at that time, we will adopt the new standard using a modified retrospective approach by recognizing a cumulative effect adjustment to the opening balance sheet. We have elected the transition package of three practical expedients permitted under ASC 842, which among other things, allows us to retain the current operating classification for all our existing leases prior to the effective adoption period. We have substantially completed our evaluation on the impact that the adoption of ASC 842 may have on our consolidated financial statements and disclosures, and we expect to recognize additional lease assets and liabilities of approximately $58 million to reflect the present value of remaining lease payments under existing leasing arrangements. The actual impact may differ from our estimate. While the adoption of ASC 842 will impact on our consolidated balance sheet, we do not expect that there will be a material impact to our consolidated statements of operations or cash flows.

In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment (“ASU 2017-04”), which removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019, with early adoption permitted, and applied prospectively. We do not expect ASU 2017-04 will have a material impact on our financial statements.

Adoption of New Accounting Standards

In August 2016, the FASB issued Accounting Standards Update No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”), which provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. We adopted ASU 2016-15 on January 1, 2018 and our adoption did not have a material impact on our consolidated financial statements.

On January 1, 2018, we adopted ASC 606 using the modified retrospective approach applying the method of presenting the standard of ASC 606 to only those contracts not considered completed under legacy GAAP. As a result of this application of ASC 606, no prior period results have been recast and the standard has been applied prospectively as of January 1, 2018. The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet resulting from the adoption of ASC 606 was as follows (in thousands):



	Balance at December 31, 2017		Adjustments due to ASC 606			Balance at January 1, 2018
Assets
Real estate inventories	$	3,105,553	$	(49,317	)	$	3,056,236
Deferred income tax asset	76,413		2,429			78,842
Other assets	48,070		39,534			87,604
Equity
Retained earnings	1,134,230		(7,354		)	1,126,876

Our cumulative adjustment to retained earnings on January 1, 2018 related primarily to the impact of ASC 340-40 and the timing of recognition and classification in our consolidated financial statements of certain sales office, model and other marketing related costs that we incur to obtain sales contracts from our customers. See our Real Estate Inventories and Cost of Sales and Revenue Recognition accounting policy above.

In accordance with ASC 606 disclosure requirements, the impact of adopting ASC 606 on our consolidated statements of operations and balance sheets for the year ended December 31, 2018 was as follows (in thousands, except per share amounts):



	Year Ended December 31, 2018
	As Reported			Balances Without Adoption of ASC 606			Effect of Change Higher/(Lower)
Statements of Operations
Revenues
Home sales	$	3,244,087		$	3,244,669		$	(582	)

Costs and expenses
Cost of home sales	2,536,899			2,575,992			(39,093		)
Sales and marketing	187,267			159,482			27,785
Provision for income taxes	(90,552		)	(87,871		)	2,681
Net income	269,911			261,866			8,045
Diluted earnings per share	$	1.81		$	1.76		$	0.05

	As of December 31, 2018
	As Reported			Balances Without Adoption of ASC 606			Effect of Change Higher/(Lower)
Balance Sheet
Assets
Real estate inventories	$	3,216,059		$	3,258,232		$	(42,173	)
Deferred tax assets, net	67,768			62,656			5,112
Other assets	105,251			64,033			41,218

Liabilities
Accrued expenses and other liabilities	335,149			335,344			(195		)

Equity
Retained earnings	1,396,787			1,392,435			4,352

Contracts with Customers

In consideration of the appropriate revenue recognition for our contracts with customers, we first assessed our ordinary operations in order to capture all revenue transactions with a counter-party appropriately considered a customer. Historically, our ordinary homebuilding revenue generating activities have included contracts with homebuyers to deliver completed homes and to a much lesser extent, contracts with other homebuilders or real estate developers to deliver land or lots in exchange for consideration. The majority of our homebuilding contracts with customers typically include a single performance obligation, which is the transfer of control of the real estate property when all closing conditions are met.

In addition to our core homebuilding operations, we undertake service operations with customers in the form of our financial services reportable segment (“TRI Pointe Solutions”), which is comprised of our mortgage financing operations, title services operations and property and casualty insurance agency operations. Our mortgage financing operation (“TRI Pointe Connect”) can act as a preferred mortgage broker to our homebuyers in all of the markets in which we operate. TRI Pointe Connect was formed as a joint venture with an established mortgage lender and is accounted for under the equity method of accounting. Our title services operation (“TRI Pointe Assurance”) provides title examinations for our homebuyers in Texas, Maryland and Virginia. TRI Pointe Assurance is a wholly owned subsidiary of TRI Pointe and acts as a title agency for First American Title Insurance Company. Our property and casualty insurance agency operations (“TRI Pointe Advantage”) is a wholly owned subsidiary of TRI Pointe that provides property and casualty insurance agency services that help facilitate the closing process in all of the markets in which we operate.

We do not currently have any long-term contracts with customers. ASC 606 provides certain practical expedients that limit some of the accounting treatments and disclosure requirements existing under this accounting standard. We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less.

Disaggregation of Revenues

We generate revenues from a mix of homebuilding operations and financial services operations. Due to the nature of our revenue generating activities, the disaggregated revenue reported on our consolidated statement of operations, in conjunction with the revenues reported in our segment disclosure, is deemed sufficient to report revenue from contracts with customers in accordance with the disaggregation disclosure requirements of ASC 606. We report total revenues in Note 2, Segment Information, which is fully comprised of our revenues from contracts with customers. While the total homebuilding revenues by segment include a mix of home sales revenue, land and lot sales revenue and other operations revenue, all material revenue amounts outside of home sales revenue are attributed to their respective homebuilding segments in the discussion below. Our consideration of disaggregated revenue consisted of a variety of facts and circumstances pertaining to our contracts with customers. These considerations included the nature, amounts, timing and other characteristics and economic factors present within each revenue line item appearing on our consolidated statement of operations. See below for further commentary regarding each of our revenue streams from contracts with customers.

Home sales revenue

We generate the majority of our total revenues from home sales, which consists of our core business operation of building and delivering completed homes to homebuyers. Included in home sales revenue are forfeited deposits, which occur when homebuyers cancel home purchase contracts that include a nonrefundable deposit. Both revenue from forfeited deposits and deferred revenue resulting from uncompleted performance obligations existing at the time we deliver new homes to our homebuyers is immaterial.

Land and lot sales revenue

Historically, we have generated land and lot sales revenue from a small number of transactions, although in some years we have realized a significant amount of revenue and gross margin. We do not expect our future land and lot sales revenue to be material, but we still consider these sales to be an ordinary part of our business, thus meeting the definition of contracts with customers. Similar to our home sales, revenue from land and lot sales is typically fully recognized when the land and lot sales transactions are consummated, at which time no further performance obligations are left to be satisfied. Some of our historical land and lot sales have included future profit participation rights. We will recognize future land and lot sales revenue in the periods in which all closing conditions are met, subject to the constraint on variable consideration related to profit participation rights, if such rights exist in the sales contract.

Other operations revenue

The majority of our other homebuilding operations revenue relates to a ground lease at our Quadrant Homes reporting segment. We are responsible for making lease payments to the land owner, and we collect sublease payments from the buyers of the buildings. This ground lease is accounted for in accordance with ASC Topic 840, Leases. We do not recognize a material profit on this ground lease.

Financial services revenues

TRI Pointe Solutions is a reportable segment and is comprised of our TRI Pointe Connect mortgage financing operations, TRI Pointe Assurance title services operations, and TRI Pointe Advantage property and casualty insurance agency operations.

Mortgage financing operations

TRI Pointe Connect was formed as a joint venture with an established mortgage lender and is accounted for under the equity method of accounting. Based on our percentage stake in this joint venture, we record a percentage of income earned by TRI Pointe Connect. Revenue by TRI Pointe Connect is recognized in the period in which the home sales transactions are consummated. TRI Pointe Connect does not have a history of uncollectable amounts from these operations. TRI Pointe Connect activity appears as equity in income of unconsolidated entities under the Financial Services section of our consolidated statements of operations.

Title services operations

TRI Pointe Assurance provides title examinations for our homebuyers in Texas, Maryland and Virginia. TRI Pointe Assurance is a wholly owned subsidiary of TRI Pointe and acts as a title agency for First American Title Insurance Company. At the time of the consummation of the home sales transactions, we recognize a percentage of revenue captured by First American Title Insurance Company. We do not have a history of uncollectable amounts from these operations. TRI Pointe Assurance revenue is included in the Financial Services section of our consolidated statements of operations.

Property and casualty insurance agency operations

TRI Pointe Advantage is a wholly owned subsidiary of TRI Pointe and provides property and casualty insurance agency services that help facilitate the closing process in all of the markets in which we operate. These operations began in February 2018 and have not generated a material amount of revenue. We expect revenue from these operations to increase as customers use these services to procure homeowners insurance, with further revenue potential as customers renew their insurance coverages beyond the initial coverage periods. The total consideration for these services, including renewal options, is estimated upon the issuance of the initial insurance policy, subject to constraint. TRI Pointe Advantage revenue is included in the Financial Services section of our consolidated statements of operations.

Segment Reporting

In accordance with ASC Topic 280, Segment Reporting, in determining the most appropriate reportable segments, we considered similar economic and other characteristics, including product types, average selling prices, gross profits, production processes, suppliers, subcontractors, regulatory environments, land acquisition results, brand names, and underlying demand and supply.

Fair Value Measurements

ASC Topic 820, Fair Value Measurements and Disclosures, defines “fair value” as the price that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at measurement date and requires assets and liabilities carried at fair value to be classified and disclosed in the following three categories:


•	Level 1—Quoted prices for identical instruments in active markets


•	Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are inactive; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets at measurement date


•	Level 3—Valuations derived from techniques where one or more significant inputs or significant value drivers are unobservable in active markets at measurement date

Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Schedule of Cumulative Effect of Changes on Consolidated Balance Sheet Resulting From Adoption of ASC 606

The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet resulting from the adoption of ASC 606 was as follows (in thousands):



	Balance at December 31, 2017		Adjustments due to ASC 606			Balance at January 1, 2018
Assets
Real estate inventories	$	3,105,553	$	(49,317	)	$	3,056,236
Deferred income tax asset	76,413		2,429			78,842
Other assets	48,070		39,534			87,604
Equity
Retained earnings	1,134,230		(7,354		)	1,126,876

Schedule of Impact of Adopting ASC 606 on Consolidated Statements of Operations

In accordance with ASC 606 disclosure requirements, the impact of adopting ASC 606 on our consolidated statements of operations and balance sheets for the year ended December 31, 2018 was as follows (in thousands, except per share amounts):



	Year Ended December 31, 2018
	As Reported			Balances Without Adoption of ASC 606			Effect of Change Higher/(Lower)
Statements of Operations
Revenues
Home sales	$	3,244,087		$	3,244,669		$	(582	)

Costs and expenses
Cost of home sales	2,536,899			2,575,992			(39,093		)
Sales and marketing	187,267			159,482			27,785
Provision for income taxes	(90,552		)	(87,871		)	2,681
Net income	269,911			261,866			8,045
Diluted earnings per share	$	1.81		$	1.76		$	0.05

	As of December 31, 2018
	As Reported			Balances Without Adoption of ASC 606			Effect of Change Higher/(Lower)
Balance Sheet
Assets
Real estate inventories	$	3,216,059		$	3,258,232		$	(42,173	)
Deferred tax assets, net	67,768			62,656			5,112
Other assets	105,251			64,033			41,218

Liabilities
Accrued expenses and other liabilities	335,149			335,344			(195		)

Equity
Retained earnings	1,396,787			1,392,435			4,352

Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Summary of Financial Information Relating to Reportable Segments

Total revenues and income before income taxes for each of our reportable segments were as follows (in thousands):



	2018			2017			2016
Revenues
Maracay	$	263,321		$	296,768		$	255,253
Pardee Homes	999,710			826,033			730,848
Quadrant Homes	307,706			247,939			213,221
Trendmaker Homes	310,730			253,825			244,001
TRI Pointe Homes	1,073,592			927,247			723,186
Winchester Homes	305,950			257,089			237,413
Total homebuilding revenues	3,261,009			2,808,901			2,403,922
Financial services	1,738			1,371			1,220
Total	$	3,262,747		$	2,810,272		$	2,405,142
Income before taxes
Maracay	$	23,281		$	23,987		$	17,189
Pardee Homes	191,793			198,738			204,237
Quadrant Homes	38,366			32,671			21,209
Trendmaker Homes	25,228			16,764			15,353
TRI Pointe Homes	115,632			89,811			62,013
Winchester Homes	23,981			15,472			16,147
Corporate	(65,889		)	(45,091		)	(39,698		)
Total homebuilding income before income taxes	352,392			332,352			296,450
Financial services	9,673			7,466			5,777
Total	$	362,065		$	339,818		$	302,227

Total real estate inventories and total assets for each of our reportable segments, as of the date indicated, were as follows (in thousands):



	December 31, 2018		December 31, 2017
Real estate inventories
Maracay	$	293,217	$	243,883
Pardee Homes	1,286,877		1,245,659
Quadrant Homes	279,486		257,887
Trendmaker Homes	271,061		204,926
TRI Pointe Homes	812,799		855,727
Winchester Homes	272,619		297,471
Total	$	3,216,059	$	3,105,553
Total assets
Maracay	$	318,703	$	268,866
Pardee Homes	1,391,503		1,346,296
Quadrant Homes	313,947		312,803
Trendmaker Homes	325,943		224,995
TRI Pointe Homes	987,610		1,062,920
Winchester Homes	298,602		313,921
Corporate	228,010		262,740
Total homebuilding assets	3,864,318		3,792,541
Financial services	19,885		12,840
Total	$	3,884,203	$	3,805,381

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the components used in the computation of basic and diluted earnings per share (in thousands, except share and per share amounts):



	Year Ended December 31,
	2018		2017		2016
Numerator:
Income available to common stockholders	$	269,911	$	187,191	$	195,171
Denominator:
Basic weighted-average shares outstanding	148,183,431		154,134,411		160,859,782
Effect of dilutive shares:
Stock options and unvested restricted stock units	821,259		950,955		521,717
Diluted weighted-average shares outstanding	149,004,690		155,085,366		161,381,499
Earnings per share
Basic	$	1.82	$	1.21	$	1.21
Diluted	$	1.81	$	1.21	$	1.21
Antidilutive stock options not included in diluted earnings per share	1,645,816		3,288,340		4,551,337

Receivables, net (Tables)

12 Months Ended

Dec. 31, 2018

Receivables [Abstract]

Components of Receivables, Net

Receivables, net consisted of the following (in thousands):



	December 31, 2018		December 31, 2017
Escrow proceeds and other accounts receivable, net	$	13,995	$	89,783
Warranty insurance receivable(Note 13)	37,597		35,817
Total receivables	$	51,592	$	125,600

Real Estate Inventories (Tables)

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Abstract]

Summary of Real Estate Inventories

Real estate inventories consisted of the following (in thousands):



	December 31, 2018		December 31, 2017
Real estate inventories owned:
Homes completed or under construction	$	959,911	$	793,685
Land under development	1,743,537		1,934,556
Land held for future development	201,874		138,651
Model homes	238,828		211,658
Total real estate inventories owned	3,144,150		3,078,550
Real estate inventories not owned:
Land purchase and land option deposits	71,909		27,003
Total real estate inventories not owned	71,909		27,003
Total real estate inventories	$	3,216,059	$	3,105,553

Summary of Interest Incurred, Capitalized and Expensed

Interest incurred, capitalized and expensed were as follows (in thousands):



	Year Ended December 31,
	2018			2017			2016
Interest incurred	$	91,631		$	84,264		$	68,306
Interest capitalized	(91,631		)	(84,264		)	(68,306		)
Interest expensed	$	—		$	—		$	—
Capitalized interest in beginning inventory	$	176,348		$	157,329		$	140,311
Interest capitalized as a cost of inventory	91,631			84,264			68,306
Interest previously capitalized as a cost of inventory, included in cost of sales	(83,579		)	(65,245		)	(51,288		)
Capitalized interest in ending inventory	$	184,400		$	176,348		$	157,329

Schedule of Real Estate Inventory Impairments and Land Option Abandonments

Real estate inventory impairments and land option abandonments consisted of the following (in thousands):



	Year Ended December 31,
	2018		2017		2016
Real estate inventory impairments	$	—	$	854	$	—
Land and lot option abandonments and pre-acquisition costs	5,085		1,199		1,470
Total	$	5,085	$	2,053	$	1,470

Investments in Unconsolidated Entities (Tables)

12 Months Ended

Dec. 31, 2018

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Cumulative Investment in Entities on Equity Method, Including Share of Earnings and Losses

Our cumulative investment in entities accounted for on the equity method, including our share of earnings and losses, consisted of the following (in thousands):



	December 31,
	2018		2017
Limited liability company interests	$	2,701	$	2,687
General partnership interests	2,709		3,183
Total	$	5,410	$	5,870

Aggregated Assets, Liabilities and Operating Results of Entities as Equity-Method Investments

Assets and liabilities of unconsolidated entities (in thousands):



	December 31,
	2018		2017
Assets
Cash	$	13,337	$	11,678
Receivables	4,674		6,564
Real estate inventories	99,864		99,997
Other assets	811		936
Total assets	$	118,686	$	119,175
Liabilities and equity
Accounts payable and other liabilities	$	11,631	$	12,208
Company’s equity	5,410		5,870
Outside interests' equity	101,645		101,097
Total liabilities and equity	$	118,686	$	119,175

Results of operations from unconsolidated entities (in thousands):



	Year Ended December 31,
	2018			2017			2016
Net sales	$	28,745		$	24,247		$	18,725
Other operating expense	(17,447		)	(13,904		)	(11,315		)
Other income	97			120			4
Net income	$	11,395		$	10,463		$	7,414
Company’s equity in income (loss) of unconsolidated entities	$	8,124		$	(5,007	)	$	4,989

Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Interests in Land Option Agreements

The following provides a summary of our interests in land option agreements (in thousands):



	December 31, 2018						December 31, 2017
	Deposits		Remaining Purchase Price		Consolidated Inventory Held by VIEs		Deposits		Remaining Purchase Price		Consolidated Inventory Held by VIEs
Consolidated VIEs	$	—	$	—	$	—	$	—	$	—	$	—
Unconsolidated VIEs	41,198		433,720		N/A		3,418		112,590		N/A
Other land option agreements	30,711		307,498		N/A		23,585		269,349		N/A
Total	$	71,909	$	741,218	$	—	$	27,003	$	381,939	$	—

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill and Other Intangible Assets

Goodwill and other intangible assets consisted of the following (in thousands):



	December 31, 2018							December 31, 2017
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Goodwill	$	139,304	$	—		$	139,304	$	139,304	$	—		$	139,304
Trade names	27,979		(6,856		)	21,123		27,979		(6,322		)	21,657
Total	$	167,283	$	(6,856	)	$	160,427	$	167,283	$	(6,322	)	$	160,961

Schedule of Expected Amortization of Intangible Asset

Expected amortization of our intangible asset related to Maracay for the next five years and thereafter is (in thousands):



2019	$	534
2020	534
2021	534
2022	534
2023	534
Thereafter	1,153
Total	$	3,823

Other Assets (Tables)

12 Months Ended

Dec. 31, 2018

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Assets

Other assets consisted of the following (in thousands):



	December 31, 2018		December 31, 2017
Prepaid expenses	$	31,983	$	13,040
Refundable fees and other deposits	12,376		16,012
Development rights, held for future use or sale	845		2,569
Deferred loan costs	2,424		3,427
Operating properties and equipment, net	54,198		10,528
Other	3,425		2,494
Total	$	105,251	$	48,070

Accrued Expenses and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Payables and Accruals [Abstract]

Schedule Of Accrued Expenses And Other Liabilities

Accrued expenses and other liabilities consisted of the following (in thousands):



	December 31, 2018		December 31, 2017
Accrued payroll and related costs	$	44,010	$	36,863
Warranty reserves (Note 13)	71,836		69,373
Estimated cost for completion of real estate inventories	114,928		105,864
Customer deposits	17,464		19,568
Income tax liability to Weyerhaeuser	6,577		7,706
Accrued income taxes payable	8,335		30,672
Liability for uncertain tax positions	972		1,458
Accrued interest	12,572		11,014
Accrued insurance expense	—		1,187
Other tax liabilities	21,892		33,671
Other	36,563		13,506
Total	$	335,149	$	330,882

Senior Notes and Unsecured Revolving Credit Facility (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Senior Notes

Senior notes consisted of the following (in thousands):



	December 31, 2018			December 31, 2017
4.375% Senior Notes due June 15, 2019	$	381,895		$	450,000
4.875% Senior Notes due July 1, 2021	300,000			300,000
5.875% Senior Notes due June 15, 2024	450,000			450,000
5.250% Senior Notes due June 1, 2027	300,000			300,000
Discount and deferred loan costs	(21,091		)	(28,698		)
Total	$	1,410,804		$	1,471,302

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 45
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-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Fair Value Disclosures (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Related to Financial Instruments, Measured at Fair Value on a Recurring Basis

A summary of assets and liabilities at December 31, 2018 and 2017, related to our financial instruments, measured at fair value on a recurring basis, is set forth below (in thousands):



		December 31, 2018				December 31, 2017
	Hierarchy	Book Value		Fair Value		Book Value		Fair Value
Senior Notes⁽¹⁾	Level 2	$	1,425,397	$	1,308,826	$	1,491,229	$	1,552,335

__________


⁽¹⁾	The book value of the Senior Notes is net of discounts, excluding deferred loan costs of $14.6 million and $19.9 million as of December 31, 2018 and 2017, respectively. The estimated fair value of our Senior Notes at December 31, 2018 and 2017 is based on quoted market prices.

Summary of Nonfinancial Assets Measured at Fair Value on a Nonrecurring Basis

The following table presents impairment charges and the remaining net fair value for nonfinancial assets that were measured during the periods presented (in thousands):



	Year Ended December 31, 2018				Year Ended December 31, 2017
	Impairment Charge		Fair Value Net of Impairment		Impairment Charge		Fair Value Net of Impairment
Real estate inventories ⁽¹⁾	$	—	$	—	$	854	$	12,950


⁽¹⁾	Fair value of real estate inventories, net of impairment charges represents only those assets whose carrying values were adjusted to fair value in the respective periods presented. The fair value of these real estate inventories impaired was determined based on recent offers received from outside third parties or actual contracts.

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2018

Commitment And Contingencies [Line Items]

Schedule of Warranty Reserves

Warranty reserves consisted of the following (in thousands):



	Year Ended December 31,
	2018			2017			2016
Warranty reserves, beginning of period	$	69,373		$	83,135		$	45,948
Warranty reserves accrued	25,340			13,336			12,712
Adjustments to pre-existing reserves⁽¹⁾	(4,286		)	(9,354		)	36,826
Warranty expenditures	(18,591		)	(17,744		)	(12,351		)
Warranty reserves, end of period	$	71,836		$	69,373		$	83,135

Office Space Buildings And Equipment

Commitment And Contingencies [Line Items]

Schedule of Future Minimum Lease Payments under Non-Cancellable Operating Lease Agreements

The future minimum rental payments under operating leases, which primarily consist of office leases having initial or remaining noncancellable lease terms in excess of one year, are as follows (in thousands):



2019	$	7,502
2020	7,883
2021	6,776
2022	5,198
2023	4,088
Thereafter	8,094
	$	39,541

Ground Leases

Commitment And Contingencies [Line Items]

Schedule of Future Minimum Sublease Income under Non-Cancellable Sublease Agreements

Our lease commitments under this ground lease, which extends through 2071, were (in thousands):



2019	$	2,359
2020	2,359
2021	2,359
2022	2,359
2023	2,359
Thereafter	75,592
	$	87,387

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Compensation Expense Recognized Related to all Stock-Based Awards

The following table presents compensation expense recognized related to all stock-based awards (in thousands):



	Year Ended December 31,
	2018		2017		2016
Total stock-based compensation	$	14,814	$	15,906	$	12,612

Summary of Stock Option Awards

The following table presents a summary of stock option awards for the year ended December 31, 2018:



	Options		Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value (in thousands)
Options outstanding at December 31, 2017	1,154,658		$	14.16	4.9	$	4,350
Granted	—		—		—
Exercised	(171,747	)	$	12.05
Forfeited	(29,006	)	$	12.73
Options outstanding at December 31, 2018	953,905		$	14.58	4.2	$	296
Options exercisable at December 31, 2018	953,905		$	14.58	4.2	$	296

Summary of Restricted Stock Units

The following table presents a summary of restricted stock units (“RSUs”) for the year ended December 31, 2018:



	Restricted Stock Units		Weighted Average Grant Date Fair Value Per Share		Aggregate Intrinsic Value (in thousands)
Nonvested RSUs at December 31, 2017	4,307,592		$	9.80	$	77,192
Granted	1,131,231		$	15.77
Vested	(1,102,727	)	$	12.47
Forfeited	(994,248	)	$	9.40
Nonvested RSUs at December 31, 2018	3,341,848		$	11.05	$	36,526

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Provision (Benefit) for Income Tax Attributable to Income (Loss) from Continuing Operations before Income Taxes

The provision for income tax attributable to income before income taxes consisted of (in thousands):



	Year Ended December 31,
	2018			2017		2016
Current:
Federal	$	70,098		$	95,814	$	90,387
State	10,941			8,961		8,744
Total current taxes	81,039			104,775		99,131
Deferred:
Federal	(350		)	37,151		5,749
State	9,863			10,341		1,214
Total deferred taxes	9,513			47,492		6,963
Total income tax expense	$	90,552		$	152,267	$	106,094

Effective Tax Rate Differs from Federal Statutory Rate

The Company’s provision for income taxes was different from the amount computed by applying the statutory federal income tax rate of 21% to the underlying income before income taxes as a result of the following (in thousands):



	Year Ended December 31,
	2018			2017			2016
Taxes at the U.S. federal statutory rate	$	76,009		$	118,936		$	105,779
State income taxes, net of federal tax impact	13,603			10,712			9,539
Domestic production activities deduction	—			(7,108		)	(5,037		)
Non-deductible transaction costs	234			541			305
Change in valuation allowance	—			3,256			(4,038		)
Tax Cuts and Jobs Act	(740		)	21,961			—
Other, net	1,446			3,969			(454		)
Total income tax expense	$	90,552		$	152,267		$	106,094
Effective income tax rate	25.0		%	44.8		%	35.1		%

Components of Deferred Income Tax Assets

Deferred taxes consisted of the following at December 31, 2018 and 2017 (in thousands):



	Year Ended December 31,
	2018			2017
Deferred tax assets:
Impairment and other valuation reserves	$	37,573		$	40,438
Incentive compensation	5,946			5,851
Indirect costs capitalized	20,348			19,574
Net operating loss carryforwards (state)	18,702			25,172
State taxes	2,275			2,181
Other costs and expenses	10,848			11,354
Gross deferred tax assets	95,692			104,570
Valuation allowance	(3,449		)	(3,478		)
Deferred tax assets, net of valuation allowance	92,243			101,092
Deferred tax liabilities:
Interest capitalized	(7,355		)	(7,144		)
Basis difference in inventory	(8,170		)	(9,207		)
Fixed assets	(2,473		)	(1,710		)
Intangibles	(5,187		)	(5,360		)
Deferred financing costs	(802		)	(898		)
Other	(488		)	(360		)
Deferred tax liabilities	(24,475		)	(24,679		)
Net deferred tax assets	$	67,768		$	76,413

Schedule of Gross Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s gross unrecognized tax benefits (in thousands):



	Year Ended December 31,
	2018			2017
Balance at beginning of year	$	1,521		$	—
Increase (decrease) related to prior year tax positions	(507		)	1,521
Balance at end of year	$	1,014		$	1,521

Supplemental Disclosure to Consolidated Statement of Cash Flow (Tables)

12 Months Ended

Dec. 31, 2018

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosure to Consolidated Statement of Cash Flows

The following are supplemental disclosures to the consolidated statements of cash flows (in thousands):



	Year Ended December 31,
	2018		2017			2016
Supplemental disclosure of cash flow information:
Cash paid during the period for:
Interest, net of amounts capitalized of $82,034, $77,193 and $53,028	$	—	$	—		$	—
Income taxes	$	102,149	$	74,388		$	117,215
Supplemental disclosures of noncash activities:
Accrued liabilities related to the purchase of operating properties and equipment	$	685	$	—		$	1,828
Amortization of senior note discount capitalized to real estate inventory	$	2,112	$	2,048		$	1,815
Amortization of deferred loan costs capitalized to real estate inventory	$	5,927	$	5,578		$	4,642
Increase in other assets related to adoption of ASC 606	$	39,534	$	—		$	—
Effect of net consolidation and de-consolidation of variable interest entities:
(Decrease) increase in consolidated real estate inventory not owned	$	—	$	(17,485	)	$	(316	)
Decrease (increase) in noncontrolling interests	$	—	$	17,485		$	316

Supplemental Guarantor Information (Tables)

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet (in thousands):



	December 31, 2018
	Issuer		Guarantor Subsidiaries		Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Assets
Cash and cash equivalents	$	148,129	$	129,567	$	—		$	277,696
Receivables	16,589		35,003		—			51,592
Intercompany receivables	758,501		—		(758,501		)	—
Real estate inventories	812,799		2,403,260		—			3,216,059
Investments in unconsolidated entities	—		5,410		—			5,410
Goodwill and other intangible assets, net	156,604		3,823		—			160,427
Investments in subsidiaries	1,672,635		—		(1,672,635		)	—
Deferred tax assets, net	14,822		52,946		—			67,768
Other assets	12,984		92,267		—			105,251
Total Assets	$	3,593,063	$	2,722,276	$	(2,431,136	)	$	3,884,203

Liabilities
Accounts payable	$	13,433	$	67,880	$	—		$	81,313
Intercompany payables	—		758,501		(758,501		)	—
Accrued expenses and other liabilities	111,902		223,247		—			335,149
Senior notes, net	1,410,804		—		—			1,410,804
Total Liabilities	1,536,139		1,049,628		(758,501		)	1,827,266
Equity
Total stockholders’ equity	2,056,924		1,672,635		(1,672,635		)	2,056,924
Noncontrolling interests	—		13		—			13
Total Equity	2,056,924		1,672,648		(1,672,635		)	2,056,937
Total Liabilities and Equity	$	3,593,063	$	2,722,276	$	(2,431,136	)	$	3,884,203

Condensed Consolidating Balance Sheet (in thousands):



	December 31, 2017
	Issuer		Guarantor Subsidiaries		Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Assets
Cash and cash equivalents	$	176,684	$	106,230	$	—		$	282,914
Receivables	56,021		69,579		—			125,600
Intercompany receivables	794,550		—		(794,550		)	—
Real estate inventories	855,727		2,249,826		—			3,105,553
Investments in unconsolidated entities	—		5,870		—			5,870
Goodwill and other intangible assets, net	156,604		4,357		—			160,961
Investments in subsidiaries	1,448,690		—		(1,448,690		)	—
Deferred tax assets, net	10,892		65,521		—			76,413
Other assets	3,465		44,605		—			48,070
Total Assets	$	3,502,633	$	2,545,988	$	(2,243,240	)	$	3,805,381

Liabilities
Accounts payable	$	9,364	$	63,506	$	—		$	72,870
Intercompany payables	—		794,550		(794,550		)	—
Accrued expenses and other liabilities	92,245		238,637		—			330,882
Senior notes, net	1,471,302		—		—			1,471,302
Total Liabilities	1,572,911		1,096,693		(794,550		)	1,875,054
Equity
Total stockholders’ equity	1,929,722		1,448,690		(1,448,690		)	1,929,722
Noncontrolling interests	—		605		—			605
Total Equity	1,929,722		1,449,295		(1,448,690		)	1,930,327
Total Liabilities and Equity	$	3,502,633	$	2,545,988	$	(2,243,240	)	$	3,805,381

Condensed Consolidating Statement of Operations

Condensed Consolidating Statement of Operations (in thousands):



	Year Ended December 31, 2018
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Homebuilding:
Home sales revenue	$	1,073,592		$	2,170,495		$	—		$	3,244,087
Land and lot sales revenue	—			8,758			—			8,758
Other operations revenue	—			8,164			—			8,164
Total revenues	1,073,592			2,187,417			—			3,261,009
Cost of home sales	877,928			1,658,971			—			2,536,899
Cost of land and lot sales	17,500			7,935			—			25,435
Other operations expense	—			3,174			—			3,174
Sales and marketing	48,593			138,674			—			187,267
General and administrative	78,669			76,361			—			155,030
Homebuilding income from operations	50,902			302,302			—			353,204
Equity in loss of unconsolidated entities	—			(393		)	—			(393		)
Other (loss) income, net	(623		)	204			—			(419		)
Homebuilding income before taxes	50,279			302,113			—			352,392
Financial Services:
Revenues	—			1,738			—			1,738
Expenses	—			582			—			582
Equity in income of unconsolidated entities	—			8,517			—			8,517
Financial services income before taxes	—			9,673			—			9,673
Income before taxes	50,279			311,786			—			362,065
Provision for income taxes	(13,084		)	(77,468		)	—			(90,552		)
Equity of net income (loss) of subsidiaries	232,716			—			(232,716		)	—
Net income (loss)	269,911			234,318			(232,716		)	271,513
Net income attributable to noncontrolling interests	—			(1,602		)	—			(1,602		)
Net income (loss) available to common stockholders	$	269,911		$	232,716		$	(232,716	)	$	269,911

Condensed Consolidating Statement of Operations (in thousands):



	Year Ended December 31, 2017
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Homebuilding:
Home sales revenue	$	927,247		$	1,805,052		$	—		$	2,732,299
Land and lot sales revenue	—			74,269			—			74,269
Other operations revenue	—			2,333			—			2,333
Total revenues	927,247			1,881,654			—			2,808,901
Cost of home sales	780,732			1,392,519			—			2,173,251
Cost of land and lot sales	—			14,888			—			14,888
Other operations expense	—			2,298			—			2,298
Sales and marketing	34,286			102,780			—			137,066
General and administrative	67,006			70,758			—			137,764
Homebuilding income from operations	45,223			298,411			—			343,634
Equity in loss of unconsolidated entities	—			(11,433		)	—			(11,433		)
Other income, net	38			113			—			151
Homebuilding income before taxes	45,261			287,091			—			332,352
Financial Services:
Revenues	—			1,371			—			1,371
Expenses	—			331			—			331
Equity in income of unconsolidated entities	—			6,426			—			6,426
Financial services income before taxes	—			7,466			—			7,466
Income before taxes	45,261			294,557			—			339,818
Provision for income taxes	(22,501		)	(129,766		)	—			(152,267		)
Equity of net income (loss) of subsidiaries	164,431			—			(164,431		)	—
Net income (loss)	187,191			164,791			(164,431		)	187,551
Net income attributable to noncontrolling interests	—			(360		)	—			(360		)
Net income (loss) available to common stockholders	$	187,191		$	164,431		$	(164,431	)	$	187,191

Condensed Consolidating Statement of Operations (in thousands):



	Year Ended December 31, 2016
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Homebuilding:
Home sales revenue	$	723,186		$	1,606,150		$	—		$	2,329,336
Land and lot sales revenue	—			72,272			—			72,272
Other operations revenue	—			2,314			—			2,314
Total revenues	723,186			1,680,736			—			2,403,922
Cost of home sales	607,316			1,229,011			—			1,836,327
Cost of land and lot sales	—			17,367			—			17,367
Other operations expense	—			2,247			—			2,247
Sales and marketing	29,092			98,811			—			127,903
General and administrative	59,327			64,792			—			124,119
Homebuilding income from operations	27,451			268,508			—			295,959
Equity in income of unconsolidated entities	—			179			—			179
Other (loss) income, net	149			163			—			312
Homebuilding income before taxes	27,600			268,850			—			296,450
Financial Services:
Revenues	—			1,220			—			1,220
Expenses	—			253			—			253
Equity in income of unconsolidated entities	—			4,810			—			4,810
Financial services income before taxes	—			5,777			—			5,777
Income before taxes	27,600			274,627			—			302,227
Provision for income taxes	(11,322		)	(94,772		)	—			(106,094		)
Equity of net income (loss) of subsidiaries	178,893			—			(178,893		)	—
Net income (loss)	195,171			179,855			(178,893		)	196,133
Net income attributable to noncontrolling interests	—			(962		)	—			(962		)
Net income (loss) available to common stockholders	$	195,171		$	178,893		$	(178,893	)	$	195,171

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows (in thousands):



	Year Ended December 31, 2018
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Cash flows from operating activities:
Net cash provided by operating activities	$	156,976		$	153,686		$	—		$	310,662
Cash flows from investing activities:
Purchases of property and equipment	(8,038		)	(23,613		)	—			(31,651		)
Proceeds from sale of property and equipment	—			8			—			8
Investments in unconsolidated entities	—			(2,274		)	—			(2,274		)
Intercompany	40,781			—			(40,781		)	—
Net cash paid for acquisition	—			(61,495		)	—			(61,495		)
Net cash provided by (used in) investing activities	32,743			(87,374		)	(40,781		)	(95,412		)
Cash flows from financing activities:
Borrowings from debt	125,000			—			—			125,000
Repayment of debt	(193,105		)	—			—			(193,105		)
Debt issuance costs	—			—			—			—
Distributions to noncontrolling interests	—			(2,194		)	—			(2,194		)
Proceeds from issuance of common stock under share-based awards	1,943			—			—			1,943
Minimum tax withholding paid on behalf of employees for share-based awards	(6,049		)	—			—			(6,049		)
Share repurchases	(146,063		)	—			—			(146,063		)
Intercompany	—			(40,781		)	40,781			—
Net cash (used in) provided by financing activities	(218,274		)	(42,975		)	40,781			(220,468		)
Net (decrease) increase in cash and cash equivalents	(28,555		)	23,337			—			(5,218		)
Cash and cash equivalents - beginning of year	176,684			106,230			—			282,914
Cash and cash equivalents - end of year	$	148,129		$	129,567		$	—		$	277,696

Condensed Consolidating Statement of Cash Flows (in thousands):



	Year Ended December 31, 2017
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Cash flows from operating activities:
Net cash provided by operating activities	$	73,208		$	28,466		$	—		$	101,674
Cash flows from investing activities:
Purchases of property and equipment	(1,424		)	(1,181		)	—			(2,605		)
Proceeds from sale of property and equipment	—			6			—			6
Investments in unconsolidated entities	—			(980		)	—			(980		)
Intercompany	(14,163		)	—			14,163			—
Net cash (used in) provided by investing activities	(15,587		)	(2,155		)	14,163			(3,579		)
Cash flows from financing activities:
Borrowings from debt	500,000			—			—			500,000
Repayment of debt	(413,726		)	—			—			(413,726		)
Debt issuance costs	(5,957		)	—			—			(5,957		)
Distributions to noncontrolling interests	—			(1,333		)	—			(1,333		)
Proceeds from issuance of common stock under share-based awards	12,291			—			—			12,291
Minimum tax withholding paid on behalf of employees for share-based awards	(2,896		)	—			—			(2,896		)
Share repurchases	(112,217		)	—			—			(112,217		)
Intercompany	—			14,163			(14,163		)	—
Net cash (used in) provided by financing activities	(22,505		)	12,830			(14,163		)	(23,838		)
Net increase in cash and cash equivalents	35,116			39,141			—			74,257
Cash and cash equivalents - beginning of year	141,568			67,089			—			208,657
Cash and cash equivalents - end of year	$	176,684		$	106,230		$	—		$	282,914

Condensed Consolidating Statement of Cash Flows (in thousands):



	Year Ended December 31, 2016
	Issuer			Guarantor Subsidiaries			Consolidating Adjustments			Consolidated TRI Pointe Group, Inc.
Cash flows from operating activities:
Net cash (used in) provided by operating activities	$	(179,397	)	$	21,087		$	—		$	(158,310	)
Cash flows from investing activities:
Purchases of property and equipment	(1,603		)	(2,382		)	—			(3,985		)
Proceeds from sale of property and equipment	—			9			—			9
Investments in unconsolidated entities	—			(32		)	—			(32		)
Intercompany	12,102			—			(12,102		)	—
Net cash provided by (used in) investing activities	10,499			(2,405		)	(12,102		)	(4,008		)
Cash flows from financing activities:
Borrowings from debt	541,069			—			—			541,069
Repayment of debt	(330,458		)	(400		)	—			(330,858		)
Debt issuance costs	(5,062		)	—			—			(5,062		)
Repayment of debt payable to Weyerhaeuser	—			(2,442		)	—			(2,442		)
Decrease in book overdrafts	—			1,955			—			1,955
Distributions to Weyerhaeuser	—			(5,318		)	—			(5,318		)
Proceeds from issuance of common stock under share-based awards	587			—			—			587
Minimum tax withholding paid on behalf of employees for share-based awards	(1,359		)	—			—			(1,359		)
Share repurchases	(42,082		)	—			—			(42,082		)
Intercompany	—			(12,102		)	12,102			—
Net cash provided by (used in) financing activities	162,695			(18,307		)	12,102			156,490
Net (decrease) increase in cash and cash equivalents	(6,203		)	375			—			(5,828		)
Cash and cash equivalents - beginning of year	147,771			66,714			—			214,485
Cash and cash equivalents - end of year	$	141,568		$	67,089		$	—		$	208,657

Results of Quarterly Operations (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Results of Operations

The following table presents our unaudited quarterly financial data (in thousands, except per share amounts).



	First		Second		Third		Fourth
2018	Quarter		Quarter		Quarter		Quarter
Total revenues⁽¹⁾	$	583,676	$	771,303	$	775,071	$	1,132,697
Cost of homes sales and other⁽²⁾	451,607		606,111		609,877		897,913
Gross margin	$	132,069	$	165,192	$	165,194	$	234,784
Net income	$	42,880	$	63,680	$	63,969	$	100,984
Net income attributable to noncontrolling interests	—		—		—		(1,602		)
Net income available to common stockholders	$	42,880	$	63,680	$	63,969	$	99,382

Earnings per share
Basic	$	0.28	$	0.42	$	0.43	$	0.70
Diluted	$	0.28	$	0.42	$	0.43	$	0.70

__________

⁽¹⁾ Total revenues includes total homebuilding revenues and financial services revenue.

⁽²⁾ Cost of homes sales and other includes cost of homes sales, cost of land and lot sales, and other operations expense.



	First			Second			Third			Fourth
2017	Quarter			Quarter			Quarter			Quarter
Total revenues⁽¹⁾	$	393,391		$	570,626		$	717,735		$	1,128,520
Cost of homes sales and other⁽²⁾	319,618			455,476			534,494			880,849
Gross margin	$	73,773		$	115,150		$	183,241		$	247,671
Net income	$	8,217		$	32,803		$	72,289		$	74,242
Net income attributable to noncontrolling interests	(24		)	(89		)	(25		)	(222		)
Net income available to common stockholders	$	8,193		$	32,714		$	72,264		$	74,020

Earnings per share
Basic	$	0.05		$	0.21		$	0.48		$	0.49
Diluted	$	0.05		$	0.21		$	0.48		$	0.49

__________

⁽¹⁾ Total revenues includes total homebuilding revenues and financial services revenue.

⁽²⁾ Cost of homes sales and other includes cost of homes sales, cost of land and lot sales, and other operations expense.

Organization and Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended		12 Months Ended
	Dec. 31, 2018 USD ($) state brand $ / shares shares	Dec. 31, 2017 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) state brand $ / shares shares	Dec. 31, 2017 USD ($) $ / shares shares	Dec. 31, 2016 USD ($) shares	Jan. 01, 2019 USD ($)	Dec. 31, 2015 shares
Debt Instrument [Line Items]
Number of quality brands in portfolio \| brand	6		6
Number of states in which entity operates \| state	10		10
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common stock issued and outstanding - historical (shares) \| shares	141,661,713	151,162,999	141,661,713	151,162,999
Common stock outstanding (shares) \| shares	141,661,713	151,162,999	141,661,713	151,162,999
Impairment charges			$ 0	$ 854,000	$ 0
Impairment of investments in unconsolidated entities			0	13,200,000	0
Gross unrecognized tax benefits	$ 1,014,000	$ 1,521,000	1,014,000	1,521,000	$ 0
Reduction in deferred tax asset		$ 22,000,000	$ (740,000)	$ 22,000,000
Common Stock [Member]
Debt Instrument [Line Items]
Common stock outstanding (shares) \| shares	141,661,713	151,162,999	141,661,713	151,162,999	158,626,229		161,813,750
Dallas-based homebuilder [Member]
Debt Instrument [Line Items]
Cash payment to acquire homebuilder	$ 61,500,000
ASU 2016-02 [Member] \| Expected impact [Member]
Debt Instrument [Line Items]
Expected increase in lease asset						$ 58,000,000
Expected increase in lease liability						$ 57,000,000

Organization and Summary of Significant Accounting Policies - Cumulative Effect of Changes on Consolidated Balance Sheet Resulting From Adoption of ASC 606 (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Real estate inventories	$ 3,216,059	$ 3,056,236	$ 3,105,553
Deferred tax assets, net	67,768	78,842	76,413
Other assets	105,251	87,604	48,070
Retained earnings	1,396,787	1,126,876	1,134,230
Difference between Revenue Guidance in Effect before and after Topic 606 \| Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Real estate inventories	(42,173)	(49,317)
Deferred tax assets, net	5,112	2,429
Other assets	41,218	39,534
Retained earnings	4,352	$ (7,354)
Calculated under Revenue Guidance in Effect before Topic 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Real estate inventories	3,258,232		3,105,553
Deferred tax assets, net	62,656		76,413
Other assets	64,033		48,070
Retained earnings	$ 1,392,435		$ 1,134,230

Organization and Summary of Significant Accounting Policies - Impact of Adopting ASC 606 on Consolidated Statements of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018
Disaggregation of Revenue [Line Items]
Sales and marketing									$ 187,267
Provision for income taxes									(90,552)	$ (152,267)	$ (106,094)
Net Income (Loss) Attributable to Parent	$ 99,382	$ 63,969	$ 63,680	$ 42,880	$ 74,020	$ 72,264	$ 32,714	$ 8,193	$ 269,911	$ 187,191	$ 195,171
Diluted (in dollars per share)	$ 0.70	$ 0.43	$ 0.42	$ 0.28	$ 0.49	$ 0.48	$ 0.21	$ 0.05	$ 1.81	$ 1.21	$ 1.21
Real estate inventories	$ 3,216,059				$ 3,105,553				$ 3,216,059	$ 3,105,553		$ 3,056,236
Deferred tax assets, net	67,768				76,413				67,768	76,413		78,842
Other assets	105,251				48,070				105,251	48,070		87,604
Accrued expenses and other liabilities	335,149				330,882				335,149	330,882
Retained earnings	1,396,787				1,134,230				1,396,787	1,134,230		1,126,876
Home sales
Disaggregation of Revenue [Line Items]
Home sales									3,244,087	2,732,299	$ 2,329,336
Cost of home sales									2,536,899	2,173,251	$ 1,836,327
Calculated under Revenue Guidance in Effect before Topic 606
Disaggregation of Revenue [Line Items]
Sales and marketing									159,482
Provision for income taxes									(87,871)
Net Income (Loss) Attributable to Parent									$ 261,866
Diluted (in dollars per share)									$ 1.76
Real estate inventories	3,258,232				3,105,553				$ 3,258,232	3,105,553
Deferred tax assets, net	62,656				76,413				62,656	76,413
Other assets	64,033				48,070				64,033	48,070
Accrued expenses and other liabilities	335,344								335,344
Retained earnings	1,392,435				$ 1,134,230				1,392,435	$ 1,134,230
Calculated under Revenue Guidance in Effect before Topic 606 \| Home sales
Disaggregation of Revenue [Line Items]
Home sales									3,244,669
Cost of home sales									2,575,992
Accounting Standards Update 2014-09 \| Difference between Revenue Guidance in Effect before and after Topic 606
Disaggregation of Revenue [Line Items]
Sales and marketing									27,785
Provision for income taxes									2,681
Net Income (Loss) Attributable to Parent									$ 8,045
Diluted (in dollars per share)									$ 0.05
Real estate inventories	(42,173)								$ (42,173)			(49,317)
Deferred tax assets, net	5,112								5,112			2,429
Other assets	41,218								41,218			39,534
Accrued expenses and other liabilities	(195)								(195)
Retained earnings	$ 4,352								4,352			$ (7,354)
Accounting Standards Update 2014-09 \| Difference between Revenue Guidance in Effect before and after Topic 606 \| Home sales
Disaggregation of Revenue [Line Items]
Home sales									(582)
Cost of home sales									$ (39,093)

Segment Information - Additional Information (Detail)	12 Months Ended
Segment Information - Additional Information (Detail)	Dec. 31, 2018 company business segment
Segment Reporting Information [Line Items]
Number of principal businesses \| business	2
All HomeBuilding Segments [Member]
Segment Reporting Information [Line Items]
Number of operating divisions \| company	6
Number of reportable segments	6
Financial Services Segment [Member]
Segment Reporting Information [Line Items]
Number of reportable segments	1

Segment Information - Summary of Financial Information Relating to Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 1,132,697	$ 775,071	$ 771,303	$ 583,676	$ 1,128,520	$ 717,735	$ 570,626	$ 393,391	$ 3,262,747	$ 2,810,272	$ 2,405,142
Income before income taxes									362,065	339,818	302,227
Financial Services Income Loss From Continuing Operations Before Taxes									9,673	7,466	5,777
Real estate inventories	3,216,059				3,105,553				3,216,059	3,105,553		$ 3,056,236
Total assets	3,884,203				3,805,381				3,884,203	3,805,381
All HomeBuilding Segments [Member]
Segment Reporting Information [Line Items]
Income before income taxes									352,392	332,352	296,450
Real estate inventories	3,216,059				3,105,553				3,216,059	3,105,553
Total assets	3,864,318				3,792,541				3,864,318	3,792,541
Operating segments [Member] \| Maracay Homes [Member]
Segment Reporting Information [Line Items]
Income before income taxes									23,281	23,987	17,189
Real estate inventories	293,217				243,883				293,217	243,883
Total assets	318,703				268,866				318,703	268,866
Operating segments [Member] \| Pardee Homes [Member]
Segment Reporting Information [Line Items]
Income before income taxes									191,793	198,738	204,237
Real estate inventories	1,286,877				1,245,659				1,286,877	1,245,659
Total assets	1,391,503				1,346,296				1,391,503	1,346,296
Operating segments [Member] \| Quadrant Homes [Member]
Segment Reporting Information [Line Items]
Income before income taxes									38,366	32,671	21,209
Real estate inventories	279,486				257,887				279,486	257,887
Total assets	313,947				312,803				313,947	312,803
Operating segments [Member] \| Trendmaker Homes [Member]
Segment Reporting Information [Line Items]
Income before income taxes									25,228	16,764	15,353
Real estate inventories	271,061				204,926				271,061	204,926
Total assets	325,943				224,995				325,943	224,995
Operating segments [Member] \| Tri Pointe [Member]
Segment Reporting Information [Line Items]
Income before income taxes									115,632	89,811	62,013
Real estate inventories	812,799				855,727				812,799	855,727
Total assets	987,610				1,062,920				987,610	1,062,920
Operating segments [Member] \| Winchester Homes [Member]
Segment Reporting Information [Line Items]
Income before income taxes									23,981	15,472	16,147
Real estate inventories	272,619				297,471				272,619	297,471
Total assets	298,602				313,921				298,602	313,921
Operating segments [Member] \| Financial Services Segment [Member]
Segment Reporting Information [Line Items]
Financial Services Income Loss From Continuing Operations Before Taxes									9,673	7,466	5,777
Total assets	19,885				12,840				19,885	12,840
Corporate [Member]
Segment Reporting Information [Line Items]
Income before income taxes									(65,889)	(45,091)	(39,698)
Total assets	$ 228,010				$ 262,740				228,010	262,740
Homebuilding
Segment Reporting Information [Line Items]
Total revenues									3,261,009	2,808,901	2,403,922
Homebuilding \| All HomeBuilding Segments [Member]
Segment Reporting Information [Line Items]
Total revenues									3,261,009	2,808,901	2,403,922
Homebuilding \| Operating segments [Member] \| Maracay Homes [Member]
Segment Reporting Information [Line Items]
Total revenues									263,321	296,768	255,253
Homebuilding \| Operating segments [Member] \| Pardee Homes [Member]
Segment Reporting Information [Line Items]
Total revenues									999,710	826,033	730,848
Homebuilding \| Operating segments [Member] \| Quadrant Homes [Member]
Segment Reporting Information [Line Items]
Total revenues									307,706	247,939	213,221
Homebuilding \| Operating segments [Member] \| Trendmaker Homes [Member]
Segment Reporting Information [Line Items]
Total revenues									310,730	253,825	244,001
Homebuilding \| Operating segments [Member] \| Tri Pointe [Member]
Segment Reporting Information [Line Items]
Total revenues									1,073,592	927,247	723,186
Homebuilding \| Operating segments [Member] \| Winchester Homes [Member]
Segment Reporting Information [Line Items]
Total revenues									305,950	257,089	237,413
Financial services
Segment Reporting Information [Line Items]
Total revenues									$ 1,738	$ 1,371	$ 1,220

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Numerator:
Income available to common stockholders									$ 269,911	$ 187,191	$ 195,171
Denominator:
Basic weighted-average shares outstanding (shares)									148,183,431	154,134,411	160,859,782
Effect of dilutive shares:
Stock options and unvested restricted stock units (shares)									821,259	950,955	521,717
Diluted weighted-average shares outstanding (shares)									149,004,690	155,085,366	161,381,499
Basic
Basic (in dollars per share)	$ 0.70	$ 0.43	$ 0.42	$ 0.28	$ 0.49	$ 0.48	$ 0.21	$ 0.05	$ 1.82	$ 1.21	$ 1.21
Diluted
Diluted (in dollars per share)	$ 0.70	$ 0.43	$ 0.42	$ 0.28	$ 0.49	$ 0.48	$ 0.21	$ 0.05	$ 1.81	$ 1.21	$ 1.21
Antidilutive stock options not included in diluted earnings per share (in shares)									1,645,816	3,288,340	4,551,337

Earnings Per Share - Additional Information (Detail) - shares	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Common stock issued and outstanding - historical (shares)	141,661,713	151,162,999
TRI Pointe shares outstanding - recast (shares)	141,661,713	151,162,999
Common Stock [Member]
Business Acquisition [Line Items]
TRI Pointe shares outstanding - recast (shares)	141,661,713	151,162,999	158,626,229	161,813,750

Receivables, Net - Components of Receivables, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Escrow proceeds and other accounts receivable, net	$ 13,995	$ 89,783
Warranty insurance receivable	37,597	35,817
Total receivables	$ 51,592	$ 125,600

Receivables, Net - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Allowances for doubtful accounts	$ 667	$ 330

Real Estate Inventories - Summary of Real Estate Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Real estate inventories owned:
Homes completed or under construction	$ 959,911		$ 793,685
Land under development	1,743,537		1,934,556
Land held for future development	201,874		138,651
Model homes	238,828		211,658
Total real estate inventories owned	3,144,150		3,078,550
Real estate inventories not owned:
Land purchase and land option deposits	71,909		27,003
Total real estate inventories not owned	71,909		27,003
Total real estate inventories	$ 3,216,059	$ 3,056,236	$ 3,105,553

Real Estate Inventories - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Decrease in real estate inventories	$ (3,216,059)	$ (3,056,236)	$ (3,105,553)
Real estate inventories owned	3,144,150		$ 3,078,550
Accounting Standards Update 2014-09 \| Difference between Revenue Guidance in Effect before and after Topic 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Decrease in real estate inventories	42,173	$ 49,317
Dallas-based homebuilder [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cash payment to acquire homebuilder	61,500
Real estate inventories owned	63,200
Other assets	5,500
Accounts payable and other accrued liabilities	$ 7,200

Real Estate Inventories - Summary of Interest Incurred, Capitalized and Expensed (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate [Abstract]
Interest incurred	$ 91,631	$ 84,264	$ 68,306
Interest capitalized	(91,631)	(84,264)	(68,306)
Interest expensed		0	0
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Capitalized interest in beginning inventory	176,348	157,329	140,311
Interest capitalized as a cost of inventory	91,631	84,264	68,306
Interest previously capitalized as a cost of inventory, included in cost of sales	(83,579)	(65,245)	(51,288)
Capitalized interest in ending inventory	$ 184,400	$ 176,348	$ 157,329

Real Estate Inventories - Schedule of Real Estate Inventory Impairments and Land Option Abandonments (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate [Abstract]
Real estate inventory impairments	$ 0	$ 854,000	$ 0
Land and lot option abandonments and pre-acquisition costs	5,085,000	1,199,000	1,470,000
Real estate inventory impairments and land option abandonments, Total	$ 5,085,000	$ 2,053,000	$ 1,470,000

Investments in Unconsolidated Entities - Additional Information (Detail)	3 Months Ended	12 Months Ended
	Dec. 31, 2018 USD ($)	Dec. 31, 2018 USD ($) investment	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Sep. 30, 2017 USD ($)
Investment Holdings [Line Items]
Impairment of joint venture		$ 0	$ 13,200,000	$ 0
Minimum [Member]
Investment Holdings [Line Items]
Ownership interest (percent)	3.00%	3.00%
Maximum [Member]
Investment Holdings [Line Items]
Ownership interest (percent)	65.00%	65.00%
Homebuilding Partnerships or Limited Liability Companies [Member]
Investment Holdings [Line Items]
Number of equity investments \| investment		4
Financial Services Limited Liability Company [Member]
Investment Holdings [Line Items]
Number of equity investments \| investment		1
Investment Joint Venture [Member]
Investment Holdings [Line Items]
Impaired joint venture					$ 13,200,000
Impairment of joint venture	$ 13,200,000
Equity stake in joint venture (percent)	3.00%	3.00%

Investments in Unconsolidated Entities - Schedule of Cumulative Investment in Entities on Equity Method, Including Share of Earnings and Losses (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Schedule of Investments [Line Items]
Investments in unconsolidated entities	$ 5,410	$ 5,870
Limited Liability Company Interests [Member]
Schedule of Investments [Line Items]
Investments in unconsolidated entities	2,701	2,687
General Partnership Interests [Member]
Schedule of Investments [Line Items]
Investments in unconsolidated entities	$ 2,709	$ 3,183

Investments in Unconsolidated Entities - Aggregated Assets, Liabilities and Operating Results of Entities as Equity-Method Investments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets
Total assets	$ 118,686	$ 119,175
Liabilities and equity
Accounts payable and other liabilities	11,631	12,208
Company’s equity	5,410	5,870
Outside interests' equity	101,645	101,097
Total liabilities and equity	118,686	119,175
Net sales	28,745	24,247	$ 18,725
Other operating expense	(17,447)	(13,904)	(11,315)
Other income	97	120	4
Net income	11,395	10,463	7,414
Company’s equity in income (loss) of unconsolidated entities	8,124	(5,007)	$ 4,989
Cash [Member]
Assets
Total assets	13,337	11,678
Receivables [Member]
Assets
Total assets	4,674	6,564
Real Estate Inventories [Member]
Assets
Total assets	99,864	99,997
Other Assets [Member]
Assets
Total assets	$ 811	$ 936

Variable Interest Entities - Summary of Interests in Land Option Agreements (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Variable Interest Entity [Line Items]
Deposits	$ 71,909	$ 27,003
Remaining Purchase Price	741,218	381,939
Consolidated inventory held by VIEs	0	0
Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Deposits	0	0
Remaining Purchase Price	0	0
Consolidated inventory held by VIEs	0	0
Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Deposits	41,198	3,418
Remaining Purchase Price	433,720	112,590
Other land option agreements [Member]
Variable Interest Entity [Line Items]
Deposits	30,711	23,585
Remaining Purchase Price	$ 307,498	$ 269,349

Variable Interest Entities - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Other land option agreements [Member]
Variable Interest Entity [Line Items]
Capitalized pre-acquisition costs	$ 7.5	$ 4.5

Goodwill and Other Intangible Assets - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($) asset	Dec. 31, 2017 USD ($)	Jul. 07, 2014 USD ($)
Schedule Of Intangible Assets And Goodwill [Line Items]
Goodwill	$ 139,304	$ 139,304
Number of intangible assets \| asset	2
Indefinite-Lived Trade Names [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Indefinite life intangible asset	$ 17,300
Finite-Lived Trade Names [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Remaining useful life of amortizing asset	7 years 2 months 12 days	8 years 2 months 12 days
Amortization expense	$ 534	$ 534
Maracay Homes [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Intangible assets useful life	20 years
WRECO Transaction [Member]
Schedule Of Intangible Assets And Goodwill [Line Items]
Goodwill			$ 139,300

Goodwill and Other Intangible Assets - Schedule of Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 139,304	$ 139,304
Trade names, Gross Carrying Amount	27,979	27,979
Goodwill and Trade name, Gross Carrying Amount	167,283	167,283
Accumulated Amortization	(6,856)	(6,322)
Trade names, Net Carrying Amount	21,123	21,657
Goodwill and Trade name, Net Carrying Amount	$ 160,427	$ 160,961

Goodwill and Other Intangible Assets - Schedule of Expected Amortization of Intangible Asset (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2019	$ 534
2020	534
2021	534
2022	534
2023	534
Thereafter	1,153
Total	$ 3,823

Other Assets - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 31,983		$ 13,040
Refundable fees and other deposits	12,376		16,012
Development rights, held for future use or sale	845		2,569
Deferred loan costs	2,424		3,427
Operating properties and equipment, net	54,198		10,528
Other	3,425		2,494
Other assets, total	$ 105,251	$ 87,604	$ 48,070

Other Assets - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Other assets	$ 105,251	$ 87,604	$ 48,070
Difference between Revenue Guidance in Effect before and after Topic 606 \| Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Other assets	$ 41,218	$ 39,534

Accrued Expenses and Other Liabilities - Schedule of Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued payroll and related costs	$ 44,010	$ 36,863
Warranty reserves	71,836	69,373	$ 83,135	$ 45,948
Estimated cost for completion of real estate inventories	114,928	105,864
Customer deposits	17,464	19,568
Income tax liability to Weyerhaeuser	6,577	7,706
Accrued income taxes payable	8,335	30,672
Liability for uncertain tax positions	972	1,458
Accrued interest	12,572	11,014
Accrued insurance expense	0	1,187
Other tax liabilities	21,892	33,671
Other	36,563	13,506
Total	$ 335,149	$ 330,882

Senior Notes and Unsecured Revolving Credit Facility - Schedule of Senior Notes (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Discount and deferred loan costs	$ (21,091)	$ (28,698)
Long-term Debt	1,410,804	1,471,302
Senior Notes [Member] \| 4.375% Senior notes due 2019 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	381,895	450,000
Senior Notes [Member] \| 4.875% Senior Notes due July 1, 2021 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	300,000	300,000
Senior Notes [Member] \| 5.875% Senior notes due 2024 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	450,000	450,000
Senior Notes [Member] \| 5.250% Senior Notes due June 1, 2027 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 300,000	$ 300,000

Senior Notes and Unsecured Revolving Credit Facility - Schedule of Senior Notes (Phantoms) (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	May 31, 2016
4.375% Senior notes due 2019 [Member]
Debt Instrument [Line Items]
Maturity date of senior note	Jun. 15, 2019
5.875% Senior notes due 2024 [Member]
Debt Instrument [Line Items]
Maturity date of senior note	Jun. 15, 2024
Senior Notes [Member] \| 4.375% Senior notes due 2019 [Member]
Debt Instrument [Line Items]
Interest rate on senior note (percent)		4.375%	4.375%
Maturity date of senior note		Jun. 15, 2019	Jun. 15, 2019
Senior Notes [Member] \| 4.875% Senior Notes due 2021 [Member]
Debt Instrument [Line Items]
Interest rate on senior note (percent)		4.875%	4.875%	4.875%
Maturity date of senior note		Jul. 01, 2021	Jul. 01, 2021
Senior Notes [Member] \| 5.875% Senior notes due 2024 [Member]
Debt Instrument [Line Items]
Interest rate on senior note (percent)		5.875%	5.875%
Maturity date of senior note		Jun. 15, 2024	Jun. 15, 2024

Senior Notes and Unsecured Revolving Credit Facility - Additional Information (Detail) - USD ($)		1 Months Ended		3 Months Ended	12 Months Ended
	Jun. 13, 2014	Jun. 30, 2017	May 31, 2016	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jun. 30, 2018	Jun. 20, 2017	Jun. 19, 2017
Debt Instrument [Line Items]
Proceeds from issuance of senior notes	$ 861,300,000
Capitalization of deferred finance costs					$ 2,424,000	$ 3,427,000
Accrued interest					12,572,000	11,014,000
Outstanding letters of credit					31,800,000	7,700,000
Interest incurred					91,631,000	84,264,000	$ 68,306,000
Interest capitalized					91,631,000	84,264,000	$ 68,306,000
Notes payable [Member]
Debt Instrument [Line Items]
Amortization of deferred financing costs					8,000,000	7,600,000
Senior Notes [Member]
Debt Instrument [Line Items]
Capitalization of deferred finance costs					14,600,000	19,900,000
Accrued interest					$ 11,500,000	$ 10,600,000
5.250% Senior Notes due June 1, 2027 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount								$ 300,000,000
Interest rate on debt (percent)								5.25%
Percentage of aggregate principal amount (percent)		100.00%
Proceeds from issuance of debt note, net		$ 296,300,000
4.875% Senior Notes due July 1, 2021 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount			$ 300,000,000
Interest rate on debt (percent)			4.875%		4.875%	4.875%
Percentage of aggregate principal amount (percent)			99.44%
Proceeds from issuance of debt note, net			$ 293,900,000
Maturity date of senior note					Jul. 01, 2021	Jul. 01, 2021
4.375% Senior notes due 2019 [Member]
Debt Instrument [Line Items]
Notes issue price as a percentage of principal amount					98.89%
Maturity date of senior note				Jun. 15, 2019
Aggregate principal amount of debt repurchased and cancelled					$ 68,100,000
4.375% Senior notes due 2019 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on debt (percent)					4.375%	4.375%
Maturity date of senior note					Jun. 15, 2019	Jun. 15, 2019
5.875% Senior notes due 2024 [Member]
Debt Instrument [Line Items]
Notes issue price as a percentage of principal amount					98.15%
Maturity date of senior note				Jun. 15, 2024
5.875% Senior notes due 2024 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on debt (percent)					5.875%	5.875%
Maturity date of senior note					Jun. 15, 2024	Jun. 15, 2024
Unsecured revolving credit facility [Member] \| Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility									$ 600,000,000	$ 625,000,000
Unsecured revolving credit facility [Member] \| Six Hundred And Twenty Five Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Accrued interest					$ 402,000	$ 426,000
Available secured revolving credit facility					$ 568,200,000
Unsecured revolving credit facility [Member] \| Six Hundred And Twenty Five Million Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument variable interest rate					1.25%
Unsecured revolving credit facility [Member] \| Six Hundred And Twenty Five Million Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument variable interest rate					2.00%
Letters of credit [Member] \| Six Hundred And Twenty Five Million Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility					$ 75,000,000

Fair Value Disclosures - Summary of Assets and Liabilities Related to Financial Instruments, Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior notes, net	$ 1,410,804	$ 1,471,302
Level 2 [Member] \| Recurring [Member] \| Book Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior notes, net	1,425,397	1,491,229
Level 2 [Member] \| Recurring [Member] \| Fair Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior notes, net	$ 1,308,826	$ 1,552,335

Fair Value Disclosures - Summary of Assets and Liabilities Related to Financial Instruments, Measured at Fair Value on a Recurring Basis (Phantoms) (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Deferred loan cost	$ 2,424	$ 3,427
Senior Notes [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Deferred loan cost	$ 14,600	$ 19,900

Fair Value Disclosures - Summary of Nonfinancial Assets Measured at Fair Value on a Nonrecurring Basis (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Real estate inventory impairments	$ 0	$ 854,000	$ 0
Real estate inventories	3,216,059,000	3,105,553,000		$ 3,056,236,000
Fair Value Measurements Nonrecurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Real estate inventory impairments	0	854,000
Real estate inventories	$ 0	$ 12,950,000

Commitments and Contingencies - Additional Information (Detail)			12 Months Ended
	Feb. 04, 2019 USD ($)	Jan. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 1987 lease_renewal lease_extension lease
Commitment And Contingencies [Line Items]
Legal reserve			$ 17,500,000	$ 0
Increase in warrant liability			(4,286,000)	(9,354,000)	$ 36,826,000
Outstanding warranty insurance receivables			37,597,000	35,817,000
Rental expense			7,800,000	6,900,000	$ 6,400,000
Operating leases future commitments			54,200,000
Operating leases guaranteed future payments			12,500,000
Deposits			71,909,000	27,003,000
Land purchase and land option deposits			71,909,000	27,003,000
Aggregate remaining purchase price			741,200,000
55 year ground lease [Member]
Commitment And Contingencies [Line Items]
Lease term						55 years
Operating leases, renewal term						10 years
Number of properties obtained subject to ground leases \| lease						2
Number of lease renewal options \| lease_renewal						3
Number of lease extensions exercised \| lease_extension						1
45 year ground lease [Member]
Commitment And Contingencies [Line Items]
Lease term						45 years
Number of properties obtained subject to ground leases \| lease						1
Surety bonds [Member]
Commitment And Contingencies [Line Items]
Outstanding surety bonds			$ 685,700,000	$ 627,100,000
Property Subject to Operating Lease [Member] \| Office Leases [Member]
Commitment And Contingencies [Line Items]
Lease term			10 years
Operating leases, renewal term			5 years
Property Subject to Operating Lease [Member] \| Minimum [Member] \| Equipment Leases [Member]
Commitment And Contingencies [Line Items]
Lease term			3 years
Property Subject to Operating Lease [Member] \| Maximum [Member] \| Equipment Leases [Member]
Commitment And Contingencies [Line Items]
Lease term			4 years
Scripps Health v Pardee Homes [Member] \| Subsequent Event [Member]
Commitment And Contingencies [Line Items]
Settlement amount agreed on		$ 17,500,000
Payments of settlement amount	$ 17,500,000

Commitments and Contingencies - Schedule of Warranty Reserves (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty reserves, beginning of period	$ 69,373	$ 83,135	$ 45,948
Warranty reserves accrued	25,340	13,336	12,712
Adjustments to pre-existing reserves(1)	(4,286)	(9,354)	36,826
Warranty expenditures	(18,591)	(17,744)	(12,351)
Warranty reserves, end of period	$ 71,836	$ 69,373	83,135	$ 45,948
Estimated warranty insurance recoveries			$ 38,000	$ 36,500

Commitments and Contingencies - Schedule of Future Minimum Lease Payments under Non-Cancellable Operating Lease Agreements (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Office Space Buildings And Equipment
Other Commitments [Line Items]
2019	$ 7,502
2020	7,883
2021	6,776
2022	5,198
2023	4,088
Thereafter	8,094
Future minimum lease payments under non-cancellable operating lease agreements	39,541
Ground Leases
Other Commitments [Line Items]
2019	2,359
2020	2,359
2021	2,359
2022	2,359
2023	2,359
Thereafter	75,592
Future minimum lease payments under non-cancellable operating lease agreements	$ 87,387

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands									12 Months Ended
	Jul. 23, 2018	May 07, 2018	Apr. 30, 2018	Feb. 22, 2018	Feb. 15, 2018	May 30, 2017	Feb. 27, 2017	Mar. 09, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock based compensation related to all stock-based awards									$ 16,900
Weighted average period, expense to recognize									1 year 8 months 12 days
Intrinsic value of stock option awards exercised									$ 873	$ 4,500	$ 324
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of restricted stock units vested									17,800	8,800	4,600
Grant date fair value of restricted stock awards granted or assumed									$ 15,800	$ 18,400	$ 21,800
Restricted stock units, granted (shares)									1,131,231
Restricted stock units, vested (shares)									1,102,727
Fair value of awards (in usd per share)									$ 11.05	$ 9.80
Restricted Stock Units (RSUs) [Member] \| Employees and Officers [Member] \| Total Shareholder Return [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)		4,258		633,107			990,279
Restricted stock units, vesting period				3 years			3 years
Closing stock price on date of grant (in usd per share)		$ 17.61		$ 16.94			$ 12.10
Restricted Stock Units (RSUs) [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)				184,179			257,851
Restricted Stock Units (RSUs) [Member] \| President [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)				177,095			247,933
Restricted Stock Units (RSUs) [Member] \| Chief Financial Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)				85,005			119,008
Restricted stock units, vested (shares)					197,898
Restricted Stock Units (RSUs) [Member] \| Board of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)						55,865
Closing stock price on date of grant (in usd per share)						$ 12.53
Restricted Stock Units (RSUs) [Member] \| Board of Directors [Member] \| Total Shareholder Return [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted (shares)	6,677		40,910
Closing stock price on date of grant (in usd per share)	$ 16.37		$ 17.11
Restricted Stock Units (RSUs) [Member] \| Employees, officers and Directors [Member] \| Earnings Per Share [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price on date of grant (in usd per share)				$ 16.94			$ 12.10
Fair value of awards (in usd per share)				$ 10.97			$ 6.16
Performance-based RSUs [Member] \| Total Shareholder Return [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocation amount (percent)								33.33%
Performance-based RSUs [Member] \| Earnings Per Share [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocation amount (percent)								33.33%
Performance-based RSUs [Member] \| Stock Price [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocation amount (percent)								33.33%
2013 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock (shares)									11,727,833
Shares available for future grant (shares)									6,455,011
Minimum [Member] \| Restricted Stock Units (RSUs) [Member] \| Earnings Per Share [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocation amount (percent)				0.00%			0.00%
Maximum [Member] \| Restricted Stock Units (RSUs) [Member] \| Earnings Per Share [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocation amount (percent)				100.00%			100.00%

Stock-Based Compensation - Summary of Compensation Expense Recognized Related to all Stock-Based Awards (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total stock-based compensation	$ 14,814	$ 15,906	$ 12,612

Stock-Based Compensation - Summary of Stock Option Awards (Detail) - Employee Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding at December 31, 2016 (shares)	1,154,658
Options granted (shares)	0	0	0
Options exercised (shares)	(171,747)
Options forfeited (shares)	(29,006)
Options outstanding at December 31, 2017 (shares)	953,905	1,154,658
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted Average Exercise Price, Outstanding, Balance (in usd per share)	$ 14.16
Weighted Average Exercise Price, Granted (in usd per share)	0.00
Weighted Average Exercise Price, Exercised (in usd per share)	12.05
Weighted Average Exercise Price, Forfeited (in usd per share)	12.73
Weighted Average Exercise Price, Outstanding, Balance (in usd per share)	14.58	$ 14.16
Weighted Average Exercise Price, Options exercisable at December 31, 2017 (in usd per share)	$ 14.58
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options exercisable at December 31, 2017 (shares)	953,905
Weighted Average Remaining Contractual Life, Outstanding	4 years 2 months 12 days	4 years 10 months 24 days
Weighted Average Remaining Contractual Life, Options exercisable at December 31, 2017	4 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding, Balance	$ 296	$ 4,350
Aggregate Intrinsic Value, Outstanding, Options exercisable at December 31, 2017	$ 296

Stock-Based Compensation - Summary of Restricted Stock Units (Detail) - Restricted Stock Units (RSUs) [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($) $ / shares shares
Restricted Stock Units
Nonvested RSUs at December 31, 2016 (shares) \| shares	4,307,592
Granted (shares) \| shares	1,131,231
Vested (shares) \| shares	(1,102,727)
Forfeited (shares) \| shares	(994,248)
Nonvested RSUs at December 31, 2017 (shares) \| shares	3,341,848
Weighted Average Grant Date Fair Value Per Share
Weighted Average Grant Date Fair Value, Beginning Balance (in usd per share) \| $ / shares	$ 9.80
Weighted Average Grant Date Fair Value, Granted (in usd per share) \| $ / shares	15.77
Weighted Average Grant Date Fair Value, Vested (in usd per share) \| $ / shares	12.47
Weighted Average Grant Date Fair Value, Forfeited (in usd per share) \| $ / shares	9.40
Weighted Average Grant Date Fair Value, Ending Balance (in usd per share) \| $ / shares	$ 11.05
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Beginning Balance \| $	$ 77,192
Aggregate Intrinsic Value, Granted \| $
Aggregate Intrinsic Value, Ending Balance \| $	$ 36,526

Income Taxes - Provision (Benefit) for Income Tax Attributable to Income (Loss) from Continuing Operations before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
Federal	$ 70,098	$ 95,814	$ 90,387
State	10,941	8,961	8,744
Total current taxes	81,039	104,775	99,131
Deferred:
Federal	(350)	37,151	5,749
State	9,863	10,341	1,214
Total deferred taxes	9,513	47,492	6,963
Total income tax expense	$ 90,552	$ 152,267	$ 106,094

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Contingency [Line Items]
Federal statutory rate (percent)		21.00%
Tax provision (benefit) to remeasure certain deferred tax assets and liabilities	$ 22,000,000	$ (740,000)	$ 22,000,000
Valuation allowance related to deferred tax assets	3,478,000	3,449,000	3,478,000
Impairment of joint venture		0	13,200,000	$ 0
Unpaid interest amount	0		0
Tax benefit that would result if uncertain tax positions are reversed		972,000
State and Local Jurisdiction
Income Tax Contingency [Line Items]
Net operating loss carryforward		283,300,000
Valuation allowance related to deferred tax assets	$ 3,500,000	$ 3,400,000	$ 3,500,000
State and Local Jurisdiction \| Minimum [Member]
Income Tax Contingency [Line Items]
Net operating loss carryforward, expire date		Dec. 31, 2028
State and Local Jurisdiction \| Maximum [Member]
Income Tax Contingency [Line Items]
Net operating loss carryforward, expire date		Dec. 31, 2036

Income Taxes - Effective Tax Rate Differs from Federal Statutory Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Taxes at the U.S. federal statutory rate	$ 76,009	$ 118,936	$ 105,779
State income taxes, net of federal tax impact	13,603	10,712	9,539
Domestic production activities deduction	0	(7,108)	(5,037)
Non-deductible transaction costs	234	541	305
Change in valuation allowance	0	3,256	(4,038)
Tax Cuts and Jobs Act	(740)	21,961	0
Other, net	1,446	3,969	(454)
Total income tax expense	$ 90,552	$ 152,267	$ 106,094
Effective income tax rate (percent)	25.00%	44.80%	35.10%

Income Taxes - Components of Deferred Income Tax Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Impairment and other valuation reserves	$ 37,573	$ 40,438
Incentive compensation	5,946	5,851
Indirect costs capitalized	20,348	19,574
Net operating loss carryforwards (state)	18,702	25,172
State taxes	2,275	2,181
Other costs and expenses	10,848	11,354
Gross deferred tax assets	95,692	104,570
Valuation allowance	(3,449)	(3,478)
Deferred tax assets, net of valuation allowance	92,243	101,092
Deferred tax liabilities:
Interest capitalized	(7,355)	(7,144)
Basis difference in inventory	(8,170)	(9,207)
Fixed assets	(2,473)	(1,710)
Intangibles	(5,187)	(5,360)
Deferred financing costs	(802)	(898)
Other	(488)	(360)
Deferred tax liabilities	(24,475)	(24,679)
Net deferred tax assets	$ 67,768	$ 76,413

Income Taxes - Schedule of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of year	$ 1,521	$ 0
Increase (decrease) related to prior year tax positions		1,521
Increase (decrease) related to prior year tax positions	(507)
Balance at end of year	$ 1,014	$ 1,521

Related Party Transactions - Additional Information (Detail)	1 Months Ended				12 Months Ended
	Oct. 31, 2016 USD ($) lot	Aug. 31, 2016 USD ($) lot	May 31, 2016 USD ($) lot	Jan. 31, 2015 USD ($) lot	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Related Party Transaction [Line Items]
Related party transactions					$ 0	$ 0
Azusa, California \| Affiliate of Starwood Capital Group
Related Party Transaction [Line Items]
Percentage of common stock held (percent)			5.00%
Number of lots acquired \| lot	27		52
Related party transactions	$ 9,600,000		$ 18,400,000
Castle Rock, Colorado \| Affiliate of Starwood Capital Group
Related Party Transaction [Line Items]
Number of lots acquired \| lot	126	257		46
Related party transactions	$ 4,200,000	$ 8,600,000		$ 2,800,000

Supplemental Disclosure to Consolidated Statement of Cash Flow - Supplemental Disclosure to Consolidated Statement of Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Supplemental disclosure of cash flow information:
Interest, net of amounts capitalized of $82,034, $77,193 and $53,028	$ 0	$ 0	$ 0
Income taxes	102,149	74,388	117,215
Supplemental disclosures of noncash activities:
Accrued liabilities related to the purchase of operating properties and equipment	685	0	1,828
Amortization of senior note discount capitalized to real estate inventory	2,112	2,048	1,815
Amortization of deferred loan costs capitalized to real estate inventory	5,927	5,578	4,642
Increase in other assets related to adoption of ASC 606	39,534	0	0
Effect of net consolidation and de-consolidation of variable interest entities:
(Decrease) increase in consolidated real estate inventory not owned	0	(17,485)	(316)
Decrease (increase) in noncontrolling interests	$ 0	$ 17,485	$ 316

Supplemental Disclosure to Consolidated Statement of Cash Flow - Supplemental Disclosure to Consolidated Statement of Cash Flows (Phantoms) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Interest capitalized	$ 82,034	$ 77,193	$ 53,028

Supplemental Guarantor Information - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 277,696		$ 282,914	$ 208,657	$ 214,485
Receivables	51,592		125,600
Intercompany receivables	0		0
Real estate inventories	3,216,059	$ 3,056,236	3,105,553
Investments in unconsolidated entities	5,410		5,870
Goodwill and other intangible assets, net	160,427		160,961
Investments in subsidiaries	0		0
Deferred tax assets, net	67,768	78,842	76,413
Other assets	105,251	$ 87,604	48,070
Total assets	3,884,203		3,805,381
Liabilities
Accounts payable	81,313		72,870
Intercompany payables	0		0
Accrued expenses and other liabilities	335,149		330,882
Senior notes, net	1,410,804		1,471,302
Total liabilities	1,827,266		1,875,054
Equity
Total stockholders’ equity	2,056,924		1,929,722
Noncontrolling interests	13		605
Total equity	2,056,937		1,930,327	1,848,510	1,686,463
Total liabilities and equity	3,884,203		3,805,381
Reporting Entity [Member] \| Guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents	129,567		106,230	67,089	66,714
Receivables	35,003		69,579
Intercompany receivables	0		0
Real estate inventories	2,403,260		2,249,826
Investments in unconsolidated entities	5,410		5,870
Goodwill and other intangible assets, net	3,823		4,357
Investments in subsidiaries	0		0
Deferred tax assets, net	52,946		65,521
Other assets	92,267		44,605
Total assets	2,722,276		2,545,988
Liabilities
Accounts payable	67,880		63,506
Intercompany payables	758,501		794,550
Accrued expenses and other liabilities	223,247		238,637
Senior notes, net	0		0
Total liabilities	1,049,628		1,096,693
Equity
Total stockholders’ equity	1,672,635		1,448,690
Noncontrolling interests	13		605
Total equity	1,672,648		1,449,295
Total liabilities and equity	2,722,276		2,545,988
Reporting Entity [Member] \| Issuer [Member]
Assets
Cash and cash equivalents	148,129		176,684	141,568	147,771
Receivables	16,589		56,021
Intercompany receivables	758,501		794,550
Real estate inventories	812,799		855,727
Investments in unconsolidated entities	0		0
Goodwill and other intangible assets, net	156,604		156,604
Investments in subsidiaries	1,672,635		1,448,690
Deferred tax assets, net	14,822		10,892
Other assets	12,984		3,465
Total assets	3,593,063		3,502,633
Liabilities
Accounts payable	13,433		9,364
Intercompany payables	0		0
Accrued expenses and other liabilities	111,902		92,245
Senior notes, net	1,410,804		1,471,302
Total liabilities	1,536,139		1,572,911
Equity
Total stockholders’ equity	2,056,924		1,929,722
Noncontrolling interests	0		0
Total equity	2,056,924		1,929,722
Total liabilities and equity	3,593,063		3,502,633
Consolidating Adjustments [Member]
Assets
Cash and cash equivalents	0		0	$ 0	$ 0
Receivables	0		0
Intercompany receivables	(758,501)		(794,550)
Real estate inventories	0		0
Investments in unconsolidated entities	0		0
Goodwill and other intangible assets, net	0		0
Investments in subsidiaries	(1,672,635)		(1,448,690)
Deferred tax assets, net	0		0
Other assets	0		0
Total assets	(2,431,136)		(2,243,240)
Liabilities
Accounts payable	0		0
Intercompany payables	(758,501)		(794,550)
Accrued expenses and other liabilities	0		0
Senior notes, net	0		0
Total liabilities	(758,501)		(794,550)
Equity
Total stockholders’ equity	(1,672,635)		(1,448,690)
Noncontrolling interests	0		0
Total equity	(1,672,635)		(1,448,690)
Total liabilities and equity	$ (2,431,136)		$ (2,243,240)

Supplemental Guarantor Information - Condensed Consolidating Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Financial Statements Captions [Line Items]
Revenues	$ 1,132,697	$ 775,071	$ 771,303	$ 583,676	$ 1,128,520	$ 717,735	$ 570,626	$ 393,391	$ 3,262,747	$ 2,810,272	$ 2,405,142
Other operations expense									3,174	2,298	2,247
Sales and marketing									187,267	137,066	127,903
General and administrative									155,030	137,764	124,119
Homebuilding income from operations									353,204	343,634	295,959
Equity in loss of unconsolidated entities									(393)	(11,433)	179
Other (loss) income, net									(419)	151	312
Homebuilding income before income taxes									352,392	332,352	296,450
Equity in income of unconsolidated entities									8,517	6,426	4,810
Financial services income before income taxes									9,673	7,466	5,777
Income before income taxes									362,065	339,818	302,227
Provision for income taxes									(90,552)	(152,267)	(106,094)
Equity of net income (loss) of subsidiaries									0	0	0
Net income	100,984	63,969	63,680	42,880	74,242	72,289	32,803	8,217	271,513	187,551	196,133
Net income attributable to noncontrolling interests	(1,602)	0	0	0	(222)	(25)	(89)	(24)	(1,602)	(360)	(962)
Net income available to common stockholders	$ 99,382	$ 63,969	$ 63,680	$ 42,880	$ 74,020	$ 72,264	$ 32,714	$ 8,193	269,911	187,191	195,171
Reporting Entity [Member] \| Guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Other operations expense									3,174	2,298	2,247
Sales and marketing									138,674	102,780	98,811
General and administrative									76,361	70,758	64,792
Homebuilding income from operations									302,302	298,411	268,508
Equity in loss of unconsolidated entities									(393)	(11,433)	179
Other (loss) income, net									204	113	163
Homebuilding income before income taxes									302,113	287,091	268,850
Equity in income of unconsolidated entities									8,517	6,426	4,810
Financial services income before income taxes									9,673	7,466	5,777
Income before income taxes									311,786	294,557	274,627
Provision for income taxes									(77,468)	(129,766)	(94,772)
Equity of net income (loss) of subsidiaries									0	0	0
Net income									234,318	164,791	179,855
Net income attributable to noncontrolling interests									(1,602)	(360)	(962)
Net income available to common stockholders									232,716	164,431	178,893
Reporting Entity [Member] \| Issuer [Member]
Condensed Financial Statements Captions [Line Items]
Other operations expense									0	0	0
Sales and marketing									48,593	34,286	29,092
General and administrative									78,669	67,006	59,327
Homebuilding income from operations									50,902	45,223	27,451
Equity in loss of unconsolidated entities									0	0	0
Other (loss) income, net									(623)	38	149
Homebuilding income before income taxes									50,279	45,261	27,600
Equity in income of unconsolidated entities									0	0	0
Financial services income before income taxes									0	0	0
Income before income taxes									50,279	45,261	27,600
Provision for income taxes									(13,084)	(22,501)	(11,322)
Equity of net income (loss) of subsidiaries									232,716	164,431	178,893
Net income									269,911	187,191	195,171
Net income attributable to noncontrolling interests									0	0	0
Net income available to common stockholders									269,911	187,191	195,171
Consolidating Adjustments [Member]
Condensed Financial Statements Captions [Line Items]
Other operations expense									0	0	0
Sales and marketing									0	0	0
General and administrative									0	0	0
Homebuilding income from operations									0	0	0
Equity in loss of unconsolidated entities									0	0	0
Other (loss) income, net									0	0	0
Homebuilding income before income taxes									0	0	0
Equity in income of unconsolidated entities									0	0	0
Financial services income before income taxes									0	0	0
Income before income taxes									0	0	0
Provision for income taxes									0	0	0
Equity of net income (loss) of subsidiaries									(232,716)	(164,431)	(178,893)
Net income									(232,716)	(164,431)	(178,893)
Net income attributable to noncontrolling interests									0	0	0
Net income available to common stockholders									(232,716)	(164,431)	(178,893)
Homebuilding
Condensed Financial Statements Captions [Line Items]
Revenues									3,261,009	2,808,901	2,403,922
Homebuilding \| Reporting Entity [Member] \| Guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Revenues									2,187,417	1,881,654	1,680,736
Homebuilding \| Reporting Entity [Member] \| Issuer [Member]
Condensed Financial Statements Captions [Line Items]
Revenues									1,073,592	927,247	723,186
Homebuilding \| Consolidating Adjustments [Member]
Condensed Financial Statements Captions [Line Items]
Revenues									0	0	0
Home sales
Condensed Financial Statements Captions [Line Items]
Home sales									3,244,087	2,732,299	2,329,336
Cost of home sales									2,536,899	2,173,251	1,836,327
Home sales \| Reporting Entity [Member] \| Guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Home sales									2,170,495	1,805,052	1,606,150
Cost of home sales									1,658,971	1,392,519	1,229,011
Home sales \| Reporting Entity [Member] \| Issuer [Member]
Condensed Financial Statements Captions [Line Items]
Home sales									1,073,592	927,247	723,186
Cost of home sales									877,928	780,732	607,316
Home sales \| Consolidating Adjustments [Member]
Condensed Financial Statements Captions [Line Items]
Home sales									0	0	0
Cost of home sales									0	0	0
Land and lot sales
Condensed Financial Statements Captions [Line Items]
Home sales									8,758	74,269	72,272
Cost of home sales									25,435	14,888	17,367
Land and lot sales \| Reporting Entity [Member] \| Guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Home sales									8,758	74,269	72,272
Cost of home sales									7,935	14,888	17,367
Land and lot sales \| Reporting Entity [Member] \| Issuer [Member]
Condensed Financial Statements Captions [Line Items]
Home sales									0	0	0
Cost of home sales									17,500	0	0
Land and lot sales \| Consolidating Adjustments [Member]
Condensed Financial Statements Captions [Line Items]
Home sales									0	0	0
Cost of home sales									0	0	0
Other operations
Condensed Financial Statements Captions [Line Items]
Revenues									8,164	2,333	2,314
Other operations \| Reporting Entity [Member] \| Guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Revenues									8,164	2,333	2,314
Other operations \| Reporting Entity [Member] \| Issuer [Member]
Condensed Financial Statements Captions [Line Items]
Revenues									0	0	0
Other operations \| Consolidating Adjustments [Member]
Condensed Financial Statements Captions [Line Items]
Revenues									0	0	0
Financial services
Condensed Financial Statements Captions [Line Items]
Revenues									1,738	1,371	1,220
Cost of home sales									582	331	253
Financial services \| Reporting Entity [Member] \| Guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Revenues									1,738	1,371	1,220
Cost of home sales									582	331	253
Financial services \| Reporting Entity [Member] \| Issuer [Member]
Condensed Financial Statements Captions [Line Items]
Revenues									0	0	0
Cost of home sales									0	0	0
Financial services \| Consolidating Adjustments [Member]
Condensed Financial Statements Captions [Line Items]
Revenues									0	0	0
Cost of home sales									$ 0	$ 0	$ 0

Supplemental Guarantor Information - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities
Net cash provided by operating activities	$ 310,662	$ 101,674	$ (158,310)
Cash flows from investing activities:
Purchases of property and equipment	(31,651)	(2,605)	(3,985)
Proceeds from sale of property and equipment	8	6	9
Investments in unconsolidated entities	(2,274)	(980)	(32)
Intercompany	0	0	0
Net cash paid for acquisition	(61,495)	0	0
Net cash used in investing activities	(95,412)	(3,579)	(4,008)
Cash flows from financing activities:
Borrowings from debt	125,000	500,000	541,069
Repayment of debt	(193,105)	(413,726)	(330,858)
Debt issuance costs	0	(5,957)	(5,062)
Net repayments of debt held by variable interest entities	0	0	(2,442)
Contributions from noncontrolling interests	0	0	1,955
Distributions to Weyerhaeuser	(2,194)	(1,333)	(5,318)
Proceeds from issuance of common stock under share-based awards	1,943	12,291	587
Minimum tax withholding paid on behalf of employees for share-based awards	(6,049)	(2,896)	(1,359)
Payments for Repurchase of Common Stock	146,063	112,217	42,082
Intercompany	0	0	0
Net cash (used in) provided by financing activities	(220,468)	(23,838)	156,490
Net (decrease) increase in cash and cash equivalents	(5,218)	74,257	(5,828)
Cash and cash equivalents - beginning of year	282,914	208,657	214,485
Cash and cash equivalents - end of year	277,696	282,914	208,657
Reporting Entity [Member] \| Guarantor Subsidiaries [Member]
Cash flows from operating activities
Net cash provided by operating activities	153,686	28,466	21,087
Cash flows from investing activities:
Purchases of property and equipment	(23,613)	(1,181)	(2,382)
Proceeds from sale of property and equipment	8	6	9
Investments in unconsolidated entities	(2,274)	(980)	(32)
Intercompany	0	0	0
Net cash paid for acquisition	(61,495)
Net cash used in investing activities	(87,374)	(2,155)	(2,405)
Cash flows from financing activities:
Borrowings from debt	0	0	0
Repayment of debt	0	0	(400)
Debt issuance costs	0	0	0
Net repayments of debt held by variable interest entities			(2,442)
Contributions from noncontrolling interests			1,955
Distributions to Weyerhaeuser	(2,194)	(1,333)	(5,318)
Proceeds from issuance of common stock under share-based awards	0	0	0
Minimum tax withholding paid on behalf of employees for share-based awards	0	0	0
Payments for Repurchase of Common Stock	0	0	0
Intercompany	(40,781)	14,163	(12,102)
Net cash (used in) provided by financing activities	(42,975)	12,830	(18,307)
Net (decrease) increase in cash and cash equivalents	23,337	39,141	375
Cash and cash equivalents - beginning of year	106,230	67,089	66,714
Cash and cash equivalents - end of year	129,567	106,230	67,089
Reporting Entity [Member] \| Issuer [Member]
Cash flows from operating activities
Net cash provided by operating activities	156,976	73,208	(179,397)
Cash flows from investing activities:
Purchases of property and equipment	(8,038)	(1,424)	(1,603)
Proceeds from sale of property and equipment	0	0	0
Investments in unconsolidated entities	0	0	0
Intercompany	40,781	(14,163)	12,102
Net cash paid for acquisition	0
Net cash used in investing activities	32,743	(15,587)	10,499
Cash flows from financing activities:
Borrowings from debt	125,000	500,000	541,069
Repayment of debt	(193,105)	(413,726)	(330,458)
Debt issuance costs	0	(5,957)	(5,062)
Net repayments of debt held by variable interest entities			0
Contributions from noncontrolling interests			0
Distributions to Weyerhaeuser	0	0	0
Proceeds from issuance of common stock under share-based awards	1,943	12,291	587
Minimum tax withholding paid on behalf of employees for share-based awards	(6,049)	(2,896)	(1,359)
Payments for Repurchase of Common Stock	146,063	112,217	42,082
Intercompany	0	0	0
Net cash (used in) provided by financing activities	(218,274)	(22,505)	162,695
Net (decrease) increase in cash and cash equivalents	(28,555)	35,116	(6,203)
Cash and cash equivalents - beginning of year	176,684	141,568	147,771
Cash and cash equivalents - end of year	148,129	176,684	141,568
Consolidating Adjustments [Member]
Cash flows from operating activities
Net cash provided by operating activities	0	0	0
Cash flows from investing activities:
Purchases of property and equipment	0	0	0
Proceeds from sale of property and equipment	0	0	0
Investments in unconsolidated entities	0	0	0
Intercompany	(40,781)	14,163	(12,102)
Net cash paid for acquisition	0
Net cash used in investing activities	(40,781)	14,163	(12,102)
Cash flows from financing activities:
Borrowings from debt	0	0	0
Repayment of debt	0	0	0
Debt issuance costs	0	0	0
Net repayments of debt held by variable interest entities			0
Contributions from noncontrolling interests			0
Distributions to Weyerhaeuser	0	0	0
Proceeds from issuance of common stock under share-based awards	0	0	0
Minimum tax withholding paid on behalf of employees for share-based awards	0	0	0
Payments for Repurchase of Common Stock	0	0	0
Intercompany	40,781	(14,163)	12,102
Net cash (used in) provided by financing activities	40,781	(14,163)	12,102
Net (decrease) increase in cash and cash equivalents	0	0	0
Cash and cash equivalents - beginning of year	0	0	0
Cash and cash equivalents - end of year	$ 0	$ 0	$ 0

Results of Quarterly Operations - Schedule of Quarterly Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 1,132,697	$ 775,071	$ 771,303	$ 583,676	$ 1,128,520	$ 717,735	$ 570,626	$ 393,391	$ 3,262,747	$ 2,810,272	$ 2,405,142
Cost of homes sales and other	897,913	609,877	606,111	451,607	880,849	534,494	455,476	319,618
Gross margin	234,784	165,194	165,192	132,069	247,671	183,241	115,150	73,773
Net income	100,984	63,969	63,680	42,880	74,242	72,289	32,803	8,217	271,513	187,551	196,133
Net income attributable to noncontrolling interests	(1,602)	0	0	0	(222)	(25)	(89)	(24)	(1,602)	(360)	(962)
Net income available to common stockholders	$ 99,382	$ 63,969	$ 63,680	$ 42,880	$ 74,020	$ 72,264	$ 32,714	$ 8,193	$ 269,911	$ 187,191	$ 195,171
Earnings per share
Basic (in dollars per share)	$ 0.70	$ 0.43	$ 0.42	$ 0.28	$ 0.49	$ 0.48	$ 0.21	$ 0.05	$ 1.82	$ 1.21	$ 1.21
Diluted (in dollars per share)	$ 0.70	$ 0.43	$ 0.42	$ 0.28	$ 0.49	$ 0.48	$ 0.21	$ 0.05	$ 1.81	$ 1.21	$ 1.21

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (7,354,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(7,354,000)
Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (7,354,000)