Taylor Morrison Home (TMHC) 10-Q26 Jul 232023 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2023	Jul. 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-35873
Entity Registrant Name	TAYLOR MORRISON HOME CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-2026677
Entity Address, Address Line One	4900 N. Scottsdale Road
Entity Address, Address Line Two	Suite 2000
Entity Address, City or Town	Scottsdale
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85251
City Area Code	480
Local Phone Number	840-8100
Title of 12(b) Security	Common Stock, $0.00001 par value
Trading Symbol	TMHC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		109,448,089
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001562476

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 1,227,264	$ 724,488
Restricted cash	765	2,147
Total cash, cash equivalents, and restricted cash	1,228,029	726,635
Real estate inventory:
Owned inventory	5,232,853	5,346,905
Consolidated real estate not owned	892	23,971
Total real estate inventory	5,233,745	5,370,876
Land deposits	207,946	263,356
Mortgage loans held for sale	287,001	346,364
Lease right of use assets	80,578	90,446
Prepaid expenses and other assets, net	261,070	265,392
Other receivables, net	189,455	191,504
Investments in unconsolidated entities	306,265	282,900
Deferred tax assets, net	67,656	67,656
Property and equipment, net	223,847	202,398
Goodwill	663,197	663,197
Total assets	8,748,789	8,470,724
Liabilities
Accounts payable	281,583	269,761
Accrued expenses and other liabilities	462,032	490,253
Lease liabilities	89,310	100,174
Income taxes payable	3,012	0
Customer deposits	380,724	412,092
Estimated development liabilities	42,352	43,753
Senior notes, net	1,817,457	1,816,303
Loans payable and other borrowings	326,216	361,486
Mortgage warehouse borrowings	249,898	306,072
Liabilities attributable to consolidated real estate not owned	892	23,971
Total liabilities	3,653,476	3,823,865
COMMITMENTS AND CONTINGENCIES (Note 13)
Stockholders' equity
Total stockholders’ equity	5,095,313	4,646,859
Total liabilities and stockholders’ equity	$ 8,748,789	$ 8,470,724

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Total revenue	$ 2,060,564	$ 1,995,023	$ 3,722,421	$ 3,698,147
Total cost of revenue	1,560,879	1,453,543	2,823,170	2,763,539
Gross margin	499,685	541,480	899,251	934,608
Sales, commissions and other marketing costs	113,034	96,135	205,794	185,258
General and administrative expenses	70,649	69,407	136,910	137,549
Net (income)/loss from unconsolidated entities	(3,186)	3,637	(5,115)	1,806
Interest (income)/expense, net	(5,120)	5,189	(6,231)	9,441
Other expense/(income), net	8,549	(11,014)	3,715	(10,472)
Gain on extinguishment of debt, net	0	(13,471)	0	(13,471)
Income before income taxes	315,759	391,597	564,178	624,497
Income tax provision	80,854	98,443	138,045	152,882
Net income before allocation to non-controlling interests	234,905	293,154	426,133	471,615
Net income attributable to non-controlling interests	(303)	(2,167)	(480)	(3,925)
Net income available to Taylor Morrison Home Corporation	$ 234,602	$ 290,987	$ 425,653	$ 467,690
Earnings per common share
Basic (in dollars per share)	$ 2.15	$ 2.47	$ 3.91	$ 3.91
Diluted (in dollars per share)	$ 2.12	$ 2.45	$ 3.85	$ 3.87
Weighted average number of shares of common stock:
Basic (in shares)	109,210	117,932	108,822	119,550
Diluted (in shares)	110,856	118,931	110,466	120,796
Home closings
Total revenue	$ 1,996,747	$ 1,883,020	$ 3,609,342	$ 3,527,429
Total cost of revenue	1,514,237	1,381,610	2,741,750	2,646,584
Land closings
Total revenue	12,628	36,816	17,148	52,426
Total cost of revenue	12,703	24,204	17,048	38,568
Financial services
Total revenue	41,914	35,471	77,063	70,670
Total cost of revenue	25,342	21,483	47,490	45,697
Amenity and other
Total revenue	9,275	39,716	18,868	47,622
Total cost of revenue	$ 8,597	$ 26,246	$ 16,882	$ 32,690

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands		Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income	Non-controlling Interest
Balance, beginning of period at Dec. 31, 2021		$ 3,970,982	$ 1	$ 2,997,211	$ (760,863)	$ 1,688,815	$ 689	$ 45,129
Balance, beginning of period (in shares) at Dec. 31, 2021			121,833,649		36,828,559
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		471,615				467,690		3,925
Exercise of stock options and issuance of restricted stock units, net (shares)	[1]		534,761
Exercise of stock options and issuance of restricted stock units, net	[1]	$ (733)		(733)
Repurchase of common stock (shares)		(8,727,685)	(8,727,685)		8,727,685
Repurchase of common stock		$ (230,413)			$ (230,413)
Stock compensation expense		12,141		12,141
Distributions to non-controlling interests of consolidated joint ventures		(28,928)						(28,928)
Changes in non-controlling interests of consolidated joint ventures		(769)						(769)
Balance, end of period (in shares) at Jun. 30, 2022			113,640,725		45,556,244
Balance, end of period at Jun. 30, 2022		4,193,895	$ 1	3,008,619	$ (991,276)	2,156,505	689	19,357
Balance, beginning of period at Mar. 31, 2022		4,094,798	$ 1	3,002,809	$ (818,892)	1,865,518	689	44,673
Balance, beginning of period (in shares) at Mar. 31, 2022			120,365,390		38,776,746
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		293,154				290,987		2,167
Exercise of stock options and issuance of restricted stock units, net (shares)	[1]		54,833
Exercise of stock options and issuance of restricted stock units, net	[1]	$ 532		532
Repurchase of common stock (shares)		(6,779,498)	(6,779,498)		6,779,498
Repurchase of common stock		$ (172,384)			$ (172,384)
Stock compensation expense		5,278		5,278
Distributions to non-controlling interests of consolidated joint ventures		(27,176)						(27,176)
Changes in non-controlling interests of consolidated joint ventures		(307)						(307)
Balance, end of period (in shares) at Jun. 30, 2022			113,640,725		45,556,244
Balance, end of period at Jun. 30, 2022		4,193,895	$ 1	3,008,619	$ (991,276)	2,156,505	689	19,357
Balance, beginning of period at Dec. 31, 2022		4,646,859	$ 1	3,025,489	$ (1,137,138)	2,741,615	359	16,533
Balance, beginning of period (in shares) at Dec. 31, 2022			107,995,262		51,396,923
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		426,133				425,653		480
Exercise of stock options and issuance of restricted stock units, net (shares)	[2]		1,557,847
Exercise of stock options and issuance of restricted stock units, net	[2]	$ 13,084		13,084
Repurchase of common stock (shares)		(109,325)	(109,325)		109,325
Repurchase of common stock		$ (3,568)			$ (3,568)
Stock compensation expense		12,804		12,804
Changes in non-controlling interests of consolidated joint ventures		1						1
Balance, end of period (in shares) at Jun. 30, 2023			109,443,784		51,506,248
Balance, end of period at Jun. 30, 2023		5,095,313	$ 1	3,051,377	$ (1,140,706)	3,167,268	359	17,014
Balance, beginning of period at Mar. 31, 2023		4,846,546	$ 1	3,037,515	$ (1,140,706)	2,932,666	359	16,711
Balance, beginning of period (in shares) at Mar. 31, 2023			109,034,112		51,506,248
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		234,905				234,602		303
Exercise of stock options and issuance of restricted stock units, net (shares)	[2]		409,672
Exercise of stock options and issuance of restricted stock units, net	[2]	$ 8,591		8,591
Repurchase of common stock (shares)		0
Repurchase of common stock		$ 0
Stock compensation expense		5,271		5,271
Balance, end of period (in shares) at Jun. 30, 2023			109,443,784		51,506,248
Balance, end of period at Jun. 30, 2023		$ 5,095,313	$ 1	$ 3,051,377	$ (1,140,706)	$ 3,167,268	$ 359	$ 17,014

[1] Dollar amount includes $ 0.6 million of stock options exercised netted with the value of shares withheld for taxes on the issuance of restricted stock units. Dollar amount includes $ 8.9 million of stock options exercised netted with the value of shares withheld for taxes on the issuance of restricted stock units.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
stock options exercised	$ 8.9	$ 0.6	$ 22.4	$ 2.9

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows from Operating Activities
Net income before allocation to non-controlling interests	$ 426,133	$ 471,615
Adjustments to reconcile net income to net cash provided by operating activities:
Net (income)/loss from unconsolidated entities	(5,115)	1,806
Stock compensation expense	12,804	12,141
Gain on extinguishment of debt, net	0	(13,471)
Gain on land transfers	0	(13,700)
Distributions of earnings from unconsolidated entities	5,534	4,252
Depreciation and amortization	14,478	17,758
Operating lease expense	13,512	13,632
Debt issuance costs amortization	1,744	544
Change in Urban Form assets due to sale	0	11,675
Changes in operating assets and liabilities:
Real estate inventory and land deposits	169,462	(667,846)
Mortgages loans held for sale, prepaid expenses and other assets	46,618	305,465
Customer deposits	(31,368)	94,240
Accounts payable, accrued expenses and other liabilities	(49,703)	(44,476)
Income taxes payable	3,012	1,855
Net cash provided by operating activities	607,111	195,490
Cash Flows from Investing Activities:
Purchase of property and equipment	(21,045)	(12,801)
Distributions of capital from unconsolidated entities	350	86,576
Investments of capital into unconsolidated entities	(24,134)	(69,582)
Net cash (used in)/provided by investing activities	(44,829)	4,193
Cash Flows from Financing Activities
Increase in loans payable and other borrowings	2,426	29,877
Repayments of loans payable and other borrowings	(15,346)	(45,226)
Borrowings on revolving credit facility	0	182,548
Repayments on revolving credit facilities	0	(64,077)
Borrowings on mortgage warehouse facilities	1,503,098	1,193,232
Repayments on mortgage warehouse facilities	(1,559,272)	(1,427,564)
Repayments on senior notes	0	(264,111)
Proceeds from stock option exercises and issuance of restricted stock units, net	13,084	(733)
Payment of principle portion of finance lease	(1,310)	(1,335)
Repurchase of common stock, net	(3,568)	(230,413)
Cash and distributions to non-controlling interests of consolidated joint ventures, net	0	(28,928)
Net cash used in financing activities	(60,888)	(656,730)
Net Increase/Decrease in Cash and Cash Equivalents and Restricted Cash	501,394	(457,047)
Cash, Cash Equivalents, and Restricted Cash - Beginning of period	726,635	836,340
Cash, Cash Equivalents, and Restricted Cash - End of period	1,228,029	379,293
Supplemental Cash Flow Information
Income tax payments	(78,877)	(112,167)
Supplemental Non-Cash Investing and Financing Activities:
Change in loans payable issued to sellers in connection with land purchase contracts	84,445	159,637
Change in inventory not owned	(23,079)	15,503
Investments of land in unconsolidated joint ventures, net	$ 0	$ 143,206

BUSINESS

BUSINESS	6 Months Ended
BUSINESS	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	1. BUSINESS Description of the Business — Taylor Morrison Home Corporation (“TMHC”), through its subsidiaries (together with TMHC referred to herein as “we,” “our,” “the Company” and “us”), owns and operates a residential homebuilding business and is a land developer. We operate in the states of Arizona, California, Colorado, Florida, Georgia, Nevada, North and South Carolina, Oregon, Texas, and Washington. We provide an assortment of homes across a wide range of price points to appeal to an array of consumer groups. We design, build and sell single and multi-family detached and attached homes in traditionally high growth markets for entry level, move-up, and resort-lifestyle buyers. We are the general contractors for all real estate projects and retain subcontractors for home construction and land development. Our homebuilding segments operate under our various brand names including Taylor Morrison, Darling Homes Collection by Taylor Morrison, and Esplanade. We also have a “Build-to-Rent” homebuilding business which operates under the Yardly brand name. In addition, we develop and construct multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand. We also have operations which provide financial services to customers through our wholly owned mortgage subsidiary, Taylor Morrison Home Funding, INC (“TMHF”), title services through our wholly owned title services subsidiary, Inspired Title Services, LLC (“Inspired Title”), and homeowner’s insurance policies through our wholly owned insurance agency, Taylor Morrison Insurance Services, LLC (“TMIS”). Our business is organized into multiple homebuilding operating components, and a financial services component, all of which are managed as four reportable segments: East, Central, West, and Financial Services.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Consolidation — The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “Annual Report”). Certain prior year amounts have been reclassified to conform to current year presentation. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements include all normal and recurring adjustments that are considered necessary for the fair presentation of our results for the interim periods presented. Results for interim periods are not necessarily indicative of results to be expected for a full fiscal year. Joint Ventures - We consolidate certain joint ventures in accordance with Accounting Standards Codification (“ASC”) Topic 810, Consolidation. The income from the percentage of the joint venture not owned by us is presented as “Net income attributable to non-controlling interests” on the unaudited Condensed Consolidated Statement of Operations. The equity from the percentage of the joint ventures not owned by us is presented as “Non-controlling interests” on the unaudited Condensed Consolidated Statement of Stockholders’ Equity. The balance of Non-Controlling interests will fluctuate from period to period as a result of activities within the respective joint ventures which may include the allocation of income or losses, distributions or contributions associated with the partners within the joint venture. Use of Estimates — The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in the unaudited Condensed Consolidated Financial Statements and these accompanying notes. Significant estimates include real estate development costs to complete, valuation of real estate, valuation of acquired assets, valuation of goodwill, valuation of development liabilities, valuation of equity awards, valuation allowance on deferred tax assets, and reserves for warranty and self-insured risks. Actual results could differ from those estimates. Real Estate Inventory — Inventory consists of raw land, land under development, homes under construction, completed homes, and model homes, all of which are stated at cost. In addition to direct carrying costs, we also capitalize interest, real estate taxes, and related development costs that benefit the entire community, such as field construction supervision and related direct overhead. Home vertical construction costs are accumulated and charged to Cost of home closings at the time of home closing using the specific identification method. Land acquisition, development, interest, and real estate taxes are allocated to homes and units generally using the relative sales value method. Generally, all overhead costs relating to purchasing, vertical construction of a home, and construction utilities are considered overhead costs and allocated on a per unit basis. These costs are capitalized to inventory from the point development begins to the point construction is completed. Changes in estimated costs to be incurred in a community are generally allocated to the remaining lots on a prospective basis. The life cycle of a typical community generally ranges from two to five years , commencing with the acquisition of unentitled or entitled land, continuing through the land development phase and concluding with the sale, construction and delivery of homes. Actual community duration will vary based on the size of the community, the sales absorption rate and whether we purchased the property as raw land or as finished lots. We capitalize qualifying interest costs to inventory during the development and construction periods. Capitalized interest is charged to Cost of home closings when the related inventory is charged to Cost of home closings. We assess the recoverability of our inventory in accordance with the provisions of ASC Topic 360, Property, Plant, and Equipment . We review our real estate inventory for indicators of impairment on a community-level basis during each reporting period. If indicators of impairment are present for a community, an undiscounted cash flow analysis is generally prepared in order to determine if the carrying value of the assets in that community exceeds the estimated undiscounted cash flows. Generally, if the carrying value of the assets exceeds their estimated undiscounted cash flows, the assets are potentially impaired, requiring a fair value analysis. Our determination of fair value is primarily based on a discounted cash flow model which includes projections and estimates relating to sales prices, construction costs, sales pace, and other factors. However, fair value can be determined through other methods, such as appraisals, contractual purchase offers, and other third party opinions of value. Changes in these expectations may lead to a change in the outcome of our impairment analysis, and actual results may also differ from our assumptions. For the three and six months ended June 30, 2023 and 2022 , no impairment charges to our real estate inventory were recorded. In certain cases, we may elect to cease development and/or marketing of an existing community if we believe the economic performance of the community would be maximized by deferring development for a period of time to allow for market conditions to improve. We refer to such communities as long-term strategic assets. The decision may be based on financial and/or operational metrics as determined by us. For those communities that have been temporarily closed or development has been discontinued, we do not allocate interest or other costs to the community's inventory until activity resumes. Such costs are expensed as incurred. In addition, if we decide to cease development, we will evaluate the project for impairment and then cease future development and marketing activity until such a time when we believe that market conditions have improved and economic performance can be maximized. Our assessment of the carrying value of our long-term strategic assets typically includes estimates of future performance, including the timing of when development will recommence, the type of product to be offered, and the margin to be realized. In the future, some of these inactive communities may be re-opened while others may be sold. As of June 30, 2023 and December 31, 2022, we had no inactive projects. In the ordinary course of business, we enter into various option agreements to acquire lots in staged takedowns which may require a significant cash deposit. We are not legally obligated to purchase the balance of the lots, but would forfeit any existing deposits and could be subject to financial and other penalties if the lots are not purchased. Real estate not owned under these agreements is reflected in Consolidated real estate not owned with a corresponding liability in Liabilities attributable to consolidated real estate not owned in the unaudited Condensed Consolidated Balance Sheets. Land held for sale — In some locations where we act as a developer, we occasionally purchase land that includes commercially zoned parcels or areas designated for school or government use, which we typically sell to commercial developers or municipalities, as applicable. We also sell residential lots or land parcels to manage our land and lot supply on larger tracts of land. Land is considered held for sale once management intends to actively sell a parcel within the next 12 months or the parcel is under contract to sell. Land held for sale is recorded at the lower of cost or fair value less costs to sell. In determining the value of land held for sale, we consider recent offers received, prices for land in recent comparable sales transactions, and other factors. We record fair value adjustments for land held for sale within Cost of land closings on the unaudited Condensed Consolidated Statements of Operations. Land banking arrangements — We have land purchase agreements with various land sellers. As a method of acquiring land in staged takedowns, while limiting risk and minimizing the use of funds from our available cash or other financing sources, we may transfer our right under certain specific performance agreements to entities owned by third parties (“land banking arrangements”). These entities use equity contributions from their owners and/or incur debt to finance the acquisition and development of the land. The entities grant us an option to acquire lots in staged takedowns. In consideration for this option, we make a non-refundable deposit. We are not legally obligated to purchase the balance of the lots, but would forfeit any existing deposits and could be subject to financial and other penalties if the lots were not purchased. We do not have an ownership interest in these entities or title to their assets and do not guarantee their liabilities. These land banking arrangements help us manage the financial and market risk associated with land holdings which are not included in the unaudited Condensed Consolidated Balance Sheets. Investments in Consolidated and Unconsolidated Entities Consolidated Entities — In the ordinary course of business, we enter into land purchase contracts, lot option contracts and land banking arrangements in order to procure land or lots for the construction of homes. Such contracts enable us to control significant lot positions with a minimal initial capital investment and substantially reduce the risk associated with land ownership and development. In accordance with ASC Topic 810, Consolidation , when we enter into agreements to acquire land or lots and pay a non-refundable deposit, we evaluate if a Variable Interest Entity (“VIE”) should be created if we are deemed to have provided subordinated financial support that will absorb some or all of an entity’s expected losses if they occur. If we are the primary beneficiary of the VIE, we consolidate the VIE and reflect such assets and liabilities as Consolidated real estate not owned and Liabilities attributable to consolidated real estate not owned, respectively, in the unaudited Condensed Consolidated Balance Sheets. Unconsolidated Joint Ventures — We use the equity method of accounting for entities which we exercise significant influence but do not have a controlling interest over the operating and financial policies of the investee. For unconsolidated entities in which we function as the managing member, we have evaluated the rights held by our joint venture partners and determined that the partners have substantive participating rights that preclude the presumption of control. Our share of net earnings or losses is included in Net income/loss from unconsolidated entities on the unaudited Condensed Consolidated Statement of Operations when earned and distributions are credited against our Investments in unconsolidated entities on the unaudited Condensed Consolidated Balance Sheets when received. We evaluate our investments in unconsolidated entities for indicators of impairment semi-annually. A series of operating losses of an investee or other factors may indicate that a decrease in value of our investment in the unconsolidated entity has occurred which is other-than-temporary. The amount of impairment recognized, if any, is the excess of the investment's carrying amount over its estimated fair value. Additionally, we consider various qualitative factors to determine if a decrease in the value of the investment is other-than-temporary. These factors include age of the venture, stage in its life cycle, intent and ability for us to recover our investment in the entity, financial condition and long-term prospects of the entity, short-term liquidity needs of the unconsolidated entity, trends in the general economic environment of the land, entitlement status of the land held by the unconsolidated entity, overall projected returns on investment, defaults under contracts with third parties (including bank debt), recoverability of the investment through future cash flows and relationships among the entity's partners. If we believe that the decline in the fair value of the investment is temporary, then no impairment is recorded. We recorded a $ 3.5 million impairment charge related to an investment in one of our unconsolidated entities for the three and six months ended June 30, 2022. No such charges were recorded for the three or six months ended June 30, 2023. Revenue Recognition — Revenue is recognized in accordance with ASC Topic 606, Revenue from Contracts with Customers (“Topic 606”) . The standard's core principle requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. Home and land closings revenue Under Topic 606, the following steps are applied to determine home closings revenue and land closings revenue recognition: (1) identify the contract(s) with our customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the performance obligation(s) are satisfied. Our home sales transactions, have one contract, with one performance obligation, with each customer to build and deliver the home purchased (or develop and deliver land). Based on the application of the five steps, the following summarizes the timing and manner of the recognition of home and land sales revenue: • Revenue from closings of residential real estate is recognized when the buyer has made the required minimum down payment, obtained necessary financing, the risks and rewards of ownership are transferred to the buyer, and we have no continuing involvement with the property, which is generally upon the close of escrow. Revenue is reported net of any discounts and incentives. • Revenue from land sales is recognized when a significant down payment is received, title passes and collectability of the receivable, if any, is reasonably assured, and we have no continuing involvement with the property, which is generally upon the close of escrow. Amenity and other revenue We own and operate certain amenities such as golf courses, clubhouses, and fitness centers, which require us to provide club members with access to the facilities in exchange for the payment of club dues. We collect club dues and other fees from club members, which are invoiced on a monthly basis. Revenue from our golf club operations is also included in amenity and other revenue. Amenity and other revenue also includes revenue from the sale of assets from our Urban Form and Build-to-Rent operations. Financial services revenue Mortgage operations and hedging activity related to financial services are not within the scope of Topic 606. Loan origination fees (including title fees, points, and closing costs) are recognized at the time the related real estate transactions are completed, which is usually upon the close of escrow. Generally, loans TMHF originates are sold to third party investors within a short period of time, on a non-recourse basis. Gains and losses from the sale of mortgages are recognized in accordance with ASC Topic 860-20, Sales of Financial Assets. TMHF does not have continuing involvement with the transferred assets; therefore, we derecognize the mortgage loans at time of sale, and based on the difference between the selling price and carrying value of the related loans upon sale, record a gain/loss on sale in the period of sale. Also included in Financial services revenue/expenses are realized and unrealized gains and losses from hedging instruments. ASC Topic 815-25, Derivatives and Hedging , requires that all hedging instruments be recognized as assets or liabilities on the balance sheet at their fair value. We do not meet the criteria for hedge accounting; therefore, we account for these instruments as free-standing derivatives, with changes in fair value recognized in Financial services revenue/expenses on the statement of operations in the period in which they occur.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
EARNINGS PER SHARE	Jun. 30, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	3. EARNINGS PER SHARE Basic earnings per common share is computed by dividing net income available to TMHC by the weighted average number of shares of Common Stock (as defined in Note 10) outstanding during the period. Diluted earnings per share gives effect to the potential dilution that could occur if all outstanding dilutive equity awards to issue shares of Common Stock were exercised or settled. The following is a summary of the components of basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended Six Months Ended 2023 2022 2023 2022 Numerator: Net income available to TMHC $ 234,602 $ 290,987 $ 425,653 $ 467,690 Denominator: Weighted average shares – basic 109,210 117,932 108,822 119,550 Restricted stock units 804 513 863 667 Stock Options 842 486 781 579 Weighted average shares – diluted 110,856 118,931 110,466 120,796 Earnings per common share – basic: Net income available to Taylor Morrison Home Corporation $ 2.15 $ 2.47 $ 3.91 $ 3.91 Earnings per common share – diluted: Net income available to Taylor Morrison Home Corporation $ 2.12 $ 2.45 $ 3.85 $ 3.87 The above calculations of weighted average shares - diluted exclude 347,052 and 267,531 of anti-dilutive stock options and unvested restricted stock units (“RSUs”) for the three and six months ended June 30, 2023 , respectively, and 2,176,897 and 1,462,766 of anti-dilutive stock options and RSUs for the three and six months ended June 30, 2022 , respectively.

REAL ESTATE INVENTORY AND LAND

REAL ESTATE INVENTORY AND LAND DEPOSITS	6 Months Ended
REAL ESTATE INVENTORY AND LAND DEPOSITS	Jun. 30, 2023
Real Estate [Abstract]
REAL ESTATE INVENTORY AND LAND DEPOSITS	4. REAL ESTATE INVENTORY AND LAND DEPOSITS Inventory consists of the following (in thousands): As of June 30, December 31, Real estate developed and under development $ 3,613,811 $ 3,607,227 Real estate held for development or held for sale (1) 56,035 43,314 Total owned 3,669,846 3,650,541 Operating communities (2) 1,371,703 1,506,241 Capitalized interest 191,304 190,123 Total owned inventory 5,232,853 5,346,905 Consolidated real estate not owned 892 23,971 Total real estate inventory $ 5,233,745 $ 5,370,876 (1) Real estate held for development or held for sale includes properties which are not in active production. (2) Operating communities consist of all vertical construction costs relating to homes in progress and completed homes. The development status of our land inventory is as follows (dollars in thousands): As of June 30, 2023 December 31, 2022 Owned Lots Book Value Owned Lots Book Value Homebuilding owned lots Undeveloped 13,585 $ 453,893 14,985 $ 522,594 Under development 8,671 924,530 10,716 1,106,751 Finished 19,154 2,289,534 18,366 2,018,062 Total homebuilding owned lots 41,410 3,667,957 44,067 3,647,407 Other assets (1) — 1,889 — 3,134 Total owned lots 41,410 $ 3,669,846 44,067 $ 3,650,541 (1) The remaining book value of land and development relates to parcels of commercial assets which are . excluded from the owned lots presented in the table. Undeveloped lots are those where no phase specific development work has commenced. Under development lots include land where phase specific development has commenced. Finished lots are fully developed. This classification allows for multi-phase or master planned communities to be presented in more than one lot status based on their development. We have land option purchase contracts, land banking arrangements and other controlled lot agreements. We do not have title to the properties, and the property owner and its creditors generally only have recourse against us in the form of retaining any non-refundable deposits. We are also not legally obligated to purchase the balance of the lots. Deposits related to these lots are capitalized when paid and classified as Land deposits until the associated property is purchased. The table below presents a summary of our controlled lots for the following periods (dollars in thousands): As of June 30, 2023 December 31, 2022 Controlled Lots Purchase Price Land Deposits (1) Controlled Lots Purchase Price Land Deposits (1) Homebuilding controlled lots Land option purchase contracts 5,946 $ 455,581 $ 38,547 6,582 $ 428,612 $ 47,678 Land banking arrangements 6,816 991,636 145,817 7,369 1,057,065 156,653 Other controlled lots 18,272 923,510 19,667 16,891 956,712 50,218 Total controlled lots 31,034 $ 2,370,727 $ 204,031 30,842 $ 2,442,389 $ 254,549 (1) Land deposits are non-refundable and represent exposure to loss related to our contracts with third parties, unconsolidated entities, and land banking arrangements. . In addition, at June 30, 2023 and December 31, 2022 we had refundable deposits of $ 3.9 million and $ 8.8 million respectively. Capitalized Interest — Interest capitalized, incurred and amortized is as follows (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Interest capitalized - beginning of period $ 196,607 $ 177,969 $ 190,123 $ 168,670 Interest incurred and capitalized (1) 32,049 40,815 66,182 80,544 Interest amortized to cost of home closings ( 37,352 ) ( 33,420 ) ( 65,001 ) ( 63,850 ) Interest capitalized - end of period $ 191,304 $ 185,364 $ 191,304 $ 185,364 (1) Excludes Interest expense, net on the unaudited Condensed Consolidated Statement of Operations as such amounts are not capitalizable.

INVESTMENTS IN CONSOLIDATED AND

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES	6 Months Ended
INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES	5. INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES Unconsolidated Entities We have investments in a number of joint ventures with third parties. These entities are generally involved in real estate development, homebuilding, Build-to-Rent, and/or mortgage lending activities. The primary activity of the real estate development joint ventures is development and sale of lots to joint venture partners and/or unrelated builders. Our share of the joint venture profit relating to lots we purchase from the joint ventures is deferred until homes are delivered by us and title passes to a homebuyer. Summarized, unaudited condensed combined financial information of unconsolidated entities that are accounted for by the equity method are as follows (in thousands): As of June 30, December 31, Assets: Real estate inventory $ 833,192 $ 749,942 Other assets 168,072 146,770 Total assets $ 1,001,264 $ 896,712 Liabilities and owners’ equity: Debt $ 277,282 $ 238,263 Other liabilities 44,792 31,824 Total liabilities $ 322,074 $ 270,087 Owners’ equity: TMHC $ 306,265 $ 282,900 Others 372,925 343,725 Total owners’ equity $ 679,190 $ 626,625 Total liabilities and owners’ equity $ 1,001,264 $ 896,712 Three Months Ended Six Months Ended 2023 2022 2023 2022 Revenues $ 32,100 $ 94,166 $ 51,637 $ 124,567 Costs and expenses ( 24,067 ) ( 94,086 ) ( 38,766 ) ( 119,016 ) Net income from unconsolidated entities $ 8,033 $ 80 $ 12,871 $ 5,551 TMHC’s share in net income/(loss) of unconsolidated entities $ 3,186 $ ( 3,637 ) $ 5,115 $ ( 1,806 ) Distributions to TMHC from unconsolidated entities $ 4,687 $ 88,770 $ 5,884 $ 90,828 Consolidated Entities We have several joint ventures for the purpose of real estate development and homebuilding activities, which we have determined to be VIEs. As the managing member, we oversee the daily operations and have the power to direct the activities of the VIEs, or joint ventures. For this specific subset of joint ventures, based upon the allocation of income and loss per the applicable joint venture agreements and certain performance guarantees, we have potentially significant exposure to the risks and rewards of the joint ventures. Therefore, we are the primary beneficiary of these joint venture VIEs, and the entities are consolidated. As of June 30, 2023 , the assets of the consolidated joint ventures totaled $ 273.9 million, of which $ 23.9 million was cash and cash equivalents, $ 75.9 million was owned inventory and $ 123.0 million was fixed assets (primarily related to Urban Form). The majority of the fixed asset balance which was previously classified as held for sale, has been reclassified as held for investment as of June 30, 2023. As of December 31, 2022 , the assets of the consolidated joint ventures totaled $ 277.6 million, of which $ 38.9 million was cash and cas h equivalents, $ 72.0 million was owned inventory and $ 123.2 million was fixed assets. The liabilities of the consolidated joint ventures totaled $ 149.1 million and $ 155.5 million as of June 30, 2023 and December 31, 2022 , respectively, and were primarily comprised of notes payable, accounts payable and accrued liabilities.

ACCRUED EXPENSES AND OTHER LIAB

ACCRUED EXPENSES AND OTHER LIABILITIES	6 Months Ended
ACCRUED EXPENSES AND OTHER LIABILITIES	Jun. 30, 2023
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER LIABILITIES	6. ACCRUED EXPENSES AND OTHER LIABILITIES Accrued expenses and other liabilities consist of the following (in thousands): As of As of Real estate development costs to complete $ 50,915 $ 53,155 Compensation and employee benefits 91,333 112,294 Self-insurance and warranty reserves 160,326 161,675 Interest payable 37,064 37,434 Property and sales taxes payable 24,233 30,046 Other accruals 98,161 95,649 Total accrued expenses and other liabilities $ 462,032 $ 490,253 Self-Insurance and Warranty Reserves – We accrue for the expected costs associated with our limited warranty, deductibles and self-insured exposure under our various insurance policies within Beneva Indemnity Company (“Beneva”), a wholly owned subsidiary. A summary of the changes in reserves are as follows (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Reserve - beginning of period $ 158,222 $ 140,970 $ 161,675 $ 141,839 Additions to reserves 24,887 23,519 39,334 32,403 Cost of claims incurred ( 23,318 ) ( 27,729 ) ( 43,826 ) ( 40,202 ) Changes in estimates to pre-existing reserves 535 731 3,143 3,451 Reserve - end of period $ 160,326 $ 137,491 $ 160,326 $ 137,491

DEBT

DEBT	6 Months Ended
DEBT	Jun. 30, 2023
Debt Disclosure [Abstract]
DEBT	7. DEBT Total debt consists of the following (in thousands): As of June 30, 2023 December 31, 2022 Principal Unamortized Carrying Principal Unamortized Carrying 5.625 % Senior Notes due 2024 350,000 ( 359 ) 349,641 350,000 ( 628 ) 349,372 5.875 % Senior Notes due 2027 500,000 ( 3,063 ) 496,937 500,000 ( 3,459 ) 496,541 6.625 % Senior Notes due 2027 (1) 27,070 1,166 28,236 27,070 1,310 28,380 5.75 % Senior Notes due 2028 450,000 ( 2,867 ) 447,133 450,000 ( 3,183 ) 446,817 5.125 % Senior Notes due 2030 500,000 ( 4,490 ) 495,510 500,000 ( 4,807 ) 495,193 Senior Notes subtotal $ 1,827,070 $ ( 9,613 ) $ 1,817,457 $ 1,827,070 $ ( 10,767 ) $ 1,816,303 Loans payable and other borrowings 326,216 — 326,216 361,486 — 361,486 $ 1 Billion Revolving Credit Facility (2)(3) — — — — — — $ 100 Million Revolving Credit Facility (2)(3) — — — — — — Mortgage warehouse borrowings 249,898 — 249,898 306,072 — 306,072 Total debt $ 2,403,184 $ ( 9,613 ) $ 2,393,571 $ 2,494,628 $ ( 10,767 ) $ 2,483,861 (1) Unamortized Debt Issuance (Cost)/Premium for such notes is reflective of fair value adjustments as a result of purchase accounting. (2) Unamortized debt issuance costs are included in the Prepaid expenses and other assets, net on the Condensed Consolidated Balance Sheets. (3) The $ 1 Billion Revolving Credit Facility Agreement together with the $ 100 Million Revolving Credit Facility Agreement, the “Revolving Credit Facilities”. Debt Instruments Excluding the debt instruments discussed below, the terms governing all other debt instruments listed in the table above have not substantially changed from the year ended December 31, 2022. For information regarding such instruments, refer to Note 8 - Debt to the Consolidated Financial Statements in our Annual Report. As of June 30, 2023, we were in compliance with all of the covenants in the debt instruments listed in the table above. $ 1 Billion Revolving Credit Facility Our $ 1 Billion Revolving Credit Facility has a maturity date of March 11, 2027 . We had no outstanding borrowings under our $ 1 Billion Revolving Credit Facility as of June 30, 2023 and December 31, 2022. As of June 30, 2023 and December 31, 2022 , we had $ 3.3 million and $ 3.8 million, respectively, of unamortized debt issuance costs relating to our $ 1 Billion Revolving Credit Facility, which are included in Prepaid expenses and other assets, net, on the unaudited Condensed Consolidated Balance Sheets. As of June 30, 2023 and December 31, 2022 , we had $ 71.9 million and $ 69.2 million, respectively, of utilized letters of credit, resulting in $ 928.1 million and $ 930.8 million, respectively, of availability under the $ 1 Billion Revolving Credit Facility. The $ 1 Billion Revolving Credit Facility contains certain “springing” financial covenants, requiring us and our subsidiaries to comply with a maximum debt to capitalization ratio of not more than 0.60 to 1.00 and a minimum consolidated tangible net worth level, currently of at least $ 3.2 billion. The financial covenants would be in effect for any fiscal quarter during which any (a) loans under the $ 1 Billion Revolving Credit Facility are outstanding during the last day of such fiscal quarter or on more than five separate days during such fiscal quarter or (b) undrawn letters of credit (except to the extent cash collateralized) issued under the $ 1 Billion Revolving Credit Facility in an aggregate amount greater than $ 40.0 million or unreimbursed letters of credit issued under the $ 1 Billion Revolving Credit Facility are outstanding on the last day of such fiscal quarter or for more than five consecutive days during such fiscal quarter. For purposes of determining compliance with the financial covenants for any fiscal quarter, the $ 1 Billion Revolving Credit Facility provides that we may exercise an equity cure by issuing certain permitted securities for cash or otherwise recording cash contributions to our capital that will, upon the contribution of such cash, be included in the calculation of consolidated tangible net worth and consolidated total capitalization. The equity cure right is exercisable up to twice in any period of four consecutive fiscal quarters and up to five times overall. The $ 1 Billion Revolving Credit Facility contains certain restrictive covenants including limitations on incurrence of liens, the payment of dividends and other distributions, asset dispositions and investments in entities that are not guarantors, limitations on prepayment of subordinated indebtedness and limitations on fundamental changes. The $ 1 Billion Revolving Credit Facility contains customary events of default, subject to applicable grace periods, including for nonpayment of principal, interest or other amounts, violation of covenants (including financial covenants, subject to the exercise of an equity cure), incorrectness of representations and warranties in any material respect, cross default and cross acceleration, bankruptcy, material monetary judgments, ERISA events with material adverse effect, actual or asserted invalidity of material guarantees and change of control. As of June 30, 2023 , we were in compliance with all of the covenants under the $ 1 Billion Revolving Credit Facility. Mortgage Warehouse Borrowings The following is a summary of our mortgage warehouse borrowings (in thousands): As of June 30, 2023 Facility Amount Facility Interest Expiration Collateral (1) Warehouse A $ 51,735 $ 60,000 Daily SOFR + 1.70 % on Demand Mortgage Loans Warehouse B (2) 18,446 75,000 BSBY 1M + 1.65 % on Demand Mortgage Loans Warehouse C 60,512 100,000 Term SOFR + 1.65 % on Demand Mortgage Loans & Pledged Cash Warehouse D (3) 57,835 70,000 Daily SOFR + 1.50 % September 6, 2023 Mortgage Loans Warehouse E 61,370 70,000 Term SOFR + 1.60 % on Demand Mortgage Loans Total $ 249,898 $ 375,000 As of December 31, 2022 Facility Amount Facility Interest Expiration Collateral (1) Warehouse A $ 29,066 $ 60,000 Daily SOFR + 1.70 % on Demand Mortgage Loans Warehouse B 94,258 150,000 BSBY 1M + 1.65 % on Demand Mortgage Loans Warehouse C 53,607 75,000 Term SOFR + 1.65 % on Demand Mortgage Loans & Pledged Cash Warehouse D 83,259 140,000 Daily SOFR + 1.50 % September 6, 2023 Mortgage Loans Warehouse E 45,882 70,000 Term SOFR + 1.60 % on Demand Mortgage Loans Total $ 306,072 $ 495,000 (1) The mortgage warehouse borrowings outstanding as of June 30, 2023 and December 31, 2022 were collateralized by $ 287.0 million and $ 346.4 million, respectively, of mortgage loans held for sale, which comprise the balance of mortgage loans held for sale, and approximately $ 0.8 million and $ 2.1 million, respectively, of restricted cash on our unaudited Condensed Consolidated Balance Sheets. (2) Beginning October 1, 2023, the lender for Warehouse B will discontinue providing mortgage warehouse facility financing to the industry in general. However, the line will not be terminated until all loans are sold or transferred. We expect to replace the liquidity provided by Warehouse B by expanding the size of other facilities, and do not believe the termination of Warehouse B will have a significant impact on our liquidity or mortgage operations. (3) We intend on renewing this warehouse facility upon expiration. Loans Payable and Other Borrowings Loans payable and other borrowings as of June 30, 2023 and December 31, 2022 consist of project-level debt due to various land sellers and financial institutions for specific projects. Project-level debt is generally secured by the land that was acquired and the principal payments generally coincide with corresponding project lot closings or a principal reduction schedule. Loans payable bear interest at rates that ranged from 0 % to 9 % and 0 % to 8 % at each of June 30, 2023 and December 31, 2022 , respectively. We impute interest for loans with no stated interest rates.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	6 Months Ended
FAIR VALUE DISCLOSURES	Jun. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	8. FAIR VALUE DISCLOSURES ASC Topic 820 provides a framework for measuring fair value under GAAP, expands disclosures about fair value measurements, and establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of the fair value hierarchy are summarized as follows: Level 1 — Fair value is based on quoted prices for identical assets or liabilities in active markets. Level 2 — Fair value is determined using quoted prices for similar assets or liabilities in active markets or quoted prices for identical or similar assets or liabilities in markets that are not active or are directly or indirectly observable. Level 3 — Fair value is determined using one or more significant inputs that are unobservable in active markets at the measurement date, such as a pricing model, discounted cash flow, or similar technique. The fair value of our mortgage loans held for sale is derived from negotiated rates with partner lending institutions. Derivative assets and liabilities include interest rate lock commitments (“IRLCs”) and mortgage backed securities (“MBS”). The fair value of IRLCs is based on the value of the underlying mortgage loans, quoted MBS prices and the probability that the mortgage loan will fund within the terms of the IRLCs. We estimate the fair value of the forward sales commitments based on quoted MBS prices. The fair value of our mortgage warehouse borrowings, loans payable and other borrowings, and the borrowings under our Revolving Credit Facilities approximate carrying value due to their short term nature and variable interest rate terms. The fair value of our Senior Notes is derived from quoted market prices by independent dealers in markets that are not active. The fair value of our Equity Security Investment in a public company is based upon quoted prices for identical assets in an active market. There were no changes to or transfers between the levels of the fair value hierarchy for any of our financial instruments as of June 30, 2023, when compared to December 31, 2022. The carrying value and fair value of our financial instruments are as follows: June 30, 2023 December 31, 2022 (Dollars in thousands) Level in Fair Carrying Estimated Carrying Estimated Description: Mortgage loans held for sale 2 $ 287,001 $ 287,001 $ 346,364 $ 346,364 IRLCs 3 ( 77 ) ( 77 ) 2,386 2,386 MBSs 2 1,166 1,166 1,090 1,090 Mortgage warehouse borrowings 2 249,898 249,898 306,072 306,072 Loans payable and other borrowings 2 326,216 326,216 361,486 361,486 5.625 % Senior Notes due 2024 (1) 2 349,641 347,375 349,372 347,375 5.875 % Senior Notes due 2027 (1) 2 496,937 491,095 496,541 480,060 6.625 % Senior Notes due 2027 (1) 2 28,236 26,778 28,380 26,123 5.75 % Senior Notes due 2028 (1) 2 447,133 435,119 446,817 421,358 5.125 % Senior Notes due 2030 (1) 2 495,510 461,745 495,193 434,330 Equity Security 1 460 460 460 460 (1) Carrying value for Senior Notes, as presented, includes unamortized debt issuance costs and premiums. Debt issuance costs are not factored into the fair value calculation for the Senior Notes. Fair value measurements are used for inventories on a nonrecurring basis when events and circumstances indicate that their carrying value is not recoverable. The following table presents the fair value for our inventories measured at fair value on a nonrecurring basis: (Dollars in thousands) Level in Fair As of Description: Real estate inventories 3 $ 48,360 As of June 30, 2023 , the fair value for such inventories was not determined as there were no events and circumstances that indicated their carrying value was not recoverable.

INCOME TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	9. INCOME TAXES The effective tax rate for the three and six months ended June 30, 2023 was 25.6 % and 24.5 %, respectively, compared to 25.1 % and 24.5 %, respectively, for the same periods in 2022. For the three months ended June 30, 2023 the effective tax rate differed from the U.S. federal statutory income tax rate primarily due to state income taxes, non-deductible executive compensation, excess tax benefits related to stock-based compensation, and amounts attributable to non-controlling interests in joint ventures. For the six months ended June 30, 2023, the effective tax rate differed from the U.S. federal statutory income tax rate primarily due to state income taxes, excess tax benefits related to stock-based compensation, non-deductible executive compensation, and special deductions and credits relating to homebuilding activities. The effective tax rate benefited from the extension of the federal §45L energy-efficient homes tax credits. The tax credit provisions were extended and modified by the Inflation Reduction Act ("IRA") enacted in August 2022 and applies to homes closed in 2022-2032. For the three and six months ended June 30, 2022 the effective tax rate differed from the U.S. federal statutory income tax rate primarily due to state income taxes, non-deductible executive compensation, excess tax benefits related to stock-based compensation and special deductions and credits relating to prior homebuilding activities. The IRA also created a 15% corporate alternative minimum tax. The corporate alternative minimum tax had no material impact on our consolidated financial statements for the three and six months ended June 30, 2023. There were no unrecognized tax benefits as of June 30, 2023 or December 31, 2022 .

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
STOCKHOLDERS' EQUITY	Jun. 30, 2023
Equity [Abstract]
STOCKHOLDERS' EQUITY	10. STOCKHOLDERS’ EQUITY Capital Stock The Company’s authorized capital stock consists of 400,000,000 shares of common stock, par value $ 0.00001 per share (the “Common Stock”), and 50,000,000 shares of preferred stock, par value $ 0.00001 per share. Stock Repurchase Program The following table summarizes share repurchase activity for the periods presented: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2023 2022 2023 2022 Amount available for repurchase — beginning of period $ 275,570 $ 172,384 $ 279,138 $ 230,413 Amount cancelled from expired or unused authorizations — ( 75,000 ) — ( 75,000 ) Additional amount authorized for repurchase — 500,000 — 500,000 Amount repurchased — ( 172,384 ) ( 3,568 ) ( 230,413 ) Amount available for repurchase — end of period $ 275,570 $ 425,000 $ 275,570 $ 425,000 The Company repurchased no shares for the three months ended June 30, 2023 and 109,325 shares during the six months ended June 30, 2023. The Company repurchased 6,779,498 and 8,727,685 shares during the three and six months ended June 30, 2022, respectively. The Inflation Reduction Act was enacted on August 16, 2022 and includes a one percent excise tax on the net repurchase of company stock. This act was effective as of January 1, 2023 and did not have a material impact on our financial statements for the three and six months ended June 30, 2023. We will continue to assess the impact it may have on our financial results.

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	6 Months Ended
STOCK BASED COMPENSATION	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
STOCK BASED COMPENSATION	11. STOCK BASED COMPENSATION Equity-Based Compensation In April 2013, we adopted the Taylor Morrison Home Corporation 2013 Omnibus Equity Award Plan (the “Plan”). The Plan was most recently amended and restated in May 2022. The Plan provides for the grant of stock options, RSUs, performance-based restricted stock units (“PRSUs”), and other equity-based awards deliverable in shares of our Common Stock. As of June 30, 2023 , we had an aggregate of 5,123,541 shares of Common Stock available for future grants under the Plan. The following table provides the outstanding balance of RSUs, PRSUs, and stock options as of June 30, 2023: Restricted Stock Units Stock Options Units Weighted Average Units Weighted Balance at June 30, 2023 1,489,690 $ 30.20 2,429,418 $ 26.50 The following table provides information regarding the amount and components of stock-based compensation expense, all of which is included in General and administrative expenses in the unaudited Condensed Consolidated Statements of Operations (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Restricted stock units (1) $ 4,212 $ 4,137 $ 10,887 $ 9,918 Stock options 1,059 1,141 1,917 2,223 Total stock compensation $ 5,271 $ 5,278 $ 12,804 $ 12,141 (1) Includes compensation expense related to time-based RSUs and PRSUs. At June 30, 2023 and December 31, 2022 , the aggregate unrecognized value of all outstanding stock-based compensation awards was approximately $ 38.4 million and $ 27.1 million, respectively.

REPORTING SEGMENTS

REPORTING SEGMENTS	6 Months Ended
REPORTING SEGMENTS	Jun. 30, 2023
Segment Reporting [Abstract]
REPORTING SEGMENTS	12. REPORTING SEGMENTS We have multiple homebuilding operating components which are engaged in the business of acquiring and developing land, constructing homes, marketing and selling homes, and providing warranty and customer service. We aggregate our homebuilding operating components into three reporting segments, East, Central, and West, based on similar long-term economic characteristics. The activity from our Build-to-Rent and Urban Form operations are included in our Corporate segment. We also have a Financial Services reporting segment. We have no inter-segment sales as all sales are to external customers. Our reporting segments are as follows: East Atlanta, Charlotte, Jacksonville, Naples, Orlando, Raleigh, Sarasota, and Tampa Central Austin, Dallas, Denver, and Houston West Bay Area, Las Vegas, Phoenix, Portland, Sacramento, Seattle, and Southern California Financial Services Taylor Morrison Home Funding, Inspired Title Services, and Taylor Morrison Insurance Services Segment information is as follows (in thousands): Three Months Ended June 30, 2023 East Central West Financial Corporate (1) Total Total revenue $ 740,064 $ 623,207 $ 652,257 $ 41,914 $ 3,122 $ 2,060,564 Gross margin 203,165 160,485 119,113 16,572 350 499,685 Selling, general and administrative expenses ( 47,904 ) ( 45,390 ) ( 47,101 ) ( 91 ) ( 43,197 ) ( 183,683 ) Net income/(loss) from unconsolidated entities — 100 ( 173 ) 3,259 — 3,186 Interest and other (expense)/income, net (2) ( 1,136 ) ( 1,520 ) ( 3,007 ) — 2,234 ( 3,429 ) Income/(loss) before income taxes $ 154,125 $ 113,675 $ 68,832 $ 19,740 $ ( 40,613 ) $ 315,759 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Interest and other income/(expense), net includes pre-acquisition write-offs of terminated projects. Three Months Ended June 30, 2022 East Central West Financial Services Corporate (1) Total Total revenue $ 635,862 $ 457,512 $ 832,274 $ 35,471 $ 33,904 $ 1,995,023 Gross margin 174,535 117,356 222,687 13,988 12,914 541,480 Selling, general and administrative expenses ( 44,589 ) ( 33,499 ) ( 42,374 ) — ( 45,080 ) ( 165,542 ) Net (loss)/income from unconsolidated entities — ( 39 ) ( 5,793 ) 2,195 — ( 3,637 ) Interest and other income/(expense), net (2) 10,110 ( 1,076 ) ( 3,703 ) — 494 5,825 Gain on extinguishment of debt, net — — — — 13,471 13,471 Income/(loss) before income taxes $ 140,056 $ 82,742 $ 170,817 $ 16,183 $ ( 18,201 ) $ 391,597 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Interest and other income/(expense), net includes pre-acquisition write-offs of terminated projects. Six Months Ended June 30, 2023 East Central West Financial Corporate (1) Total Total revenue $ 1,350,877 $ 1,088,219 $ 1,200,162 $ 77,063 $ 6,100 $ 3,722,421 Gross margin 368,872 271,798 227,741 29,573 1,267 899,251 Selling, general and administrative expenses ( 90,951 ) ( 82,346 ) ( 87,585 ) ( 91 ) ( 81,731 ) ( 342,704 ) Net income/(loss) from unconsolidated entities — 19 ( 408 ) 5,534 ( 30 ) 5,115 Interest and other (expense)/income, net (2) ( 2,348 ) ( 2,861 ) 772 — 6,953 2,516 Income/(loss) before income taxes $ 275,573 $ 186,610 $ 140,520 $ 35,016 $ ( 73,541 ) $ 564,178 (1) Includes the activity from our Build-To-Rent and Urban Form operations (2) Interest and other income/(expense), net includes pre-acquisition write-offs of terminated projects. (3) Six Months Ended June 30, 2022 East Central West Financial Corporate (1) Total Total revenue $ 1,160,983 $ 828,247 $ 1,602,484 $ 70,670 $ 35,763 $ 3,698,147 Gross margin 300,226 191,364 404,218 24,973 13,827 934,608 Selling, general and administrative expenses ( 84,915 ) ( 62,939 ) ( 85,893 ) — ( 89,060 ) ( 322,807 ) Net income/(loss) from unconsolidated entities — 46 ( 6,105 ) 4,253 0 ( 1,806 ) Interest and other income/(expense), net (2) 9,678 ( 2,936 ) ( 5,669 ) — ( 42 ) 1,031 Gain on extinguishment of debt, net — — — — 13,471 13,471 Income/(loss) before income taxes $ 224,989 $ 125,535 $ 306,551 $ 29,226 $ ( 61,804 ) $ 624,497 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Interest and other income/(expense), net includes pre-acquisition write-offs of terminated projects. As of June 30, 2023 East Central West Financial Services Corporate (1) Total Real estate inventory and land deposits $ 1,811,595 $ 1,153,486 $ 2,476,610 $ — $ — $ 5,441,691 Investments in unconsolidated entities 49,359 114,867 82,656 5,283 54,100 306,265 Other assets 164,370 231,157 600,774 373,674 1,630,858 3,000,833 Total assets $ 2,025,324 $ 1,499,510 $ 3,160,040 $ 378,957 $ 1,684,958 $ 8,748,789 (1) Includes the assets from our Build-To-Rent and Urban Form operations. As of December 31, 2022 East Central West Financial Corporate (1) Total Real estate inventory and land deposits $ 1,820,765 $ 1,359,805 $ 2,453,662 $ — $ — $ 5,634,232 Investments in unconsolidated entities 46,629 104,070 80,310 5,283 46,608 282,900 Other assets 216,816 251,727 613,029 431,535 1,040,485 2,553,592 Total assets $ 2,084,210 $ 1,715,602 $ 3,147,001 $ 436,818 $ 1,087,093 $ 8,470,724 (1) Includes the assets from our Build-To-Rent and Urban Form operations.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	13. COMMITMENTS AND CONTINGENCIES Letters of Credit and Surety Bonds — We are committed, under various letters of credit and surety bonds, to perform certain development and construction activities and provide certain guarantees in the normal course of business. Outstanding letters of credit and surety bonds under these arrangements totaled $ 1.3 billion as of June 30, 2023 and $ 1.2 billion as of December 31, 2022. Although significant development and construction activities have been completed related to these site improvements, the bonds are generally not released until all development and construction activities are completed. We do not believe that it is probable that any outstanding bonds as of June 30, 2023 will be drawn upon. Purchase Commitments —We are subject to the usual obligations associated with entering into contracts (including land option contracts and land banking arrangements) for the purchase, development, and sale of real estate in the routine conduct of our business. We have a number of land purchase option contracts and land banking agreements, generally through cash deposits, for the right to purchase land or lots at a future point in time with predetermined terms. We do not have title to the property and the property owner and its creditors generally have no recourse. Our obligations with respect to such contracts are generally limited to the forfeiture of the related non-refundable cash deposits. At June 30, 2023 and December 31, 2022, the aggregate purchase price for land under these contracts wa s $ 1.4 billion and $ 1.5 billion, respectively. Legal Proceedings — We are involved in various litigation and legal claims in the normal course of business, including actions brought on behalf of various classes of claimants. We are also subject to a variety of local, state, and federal laws and regulations related to land development activities, house construction standards, sales practices, mortgage lending operations, employment practices, and protection of the environment. As a result, we are subject to periodic examination or inquiry by various governmental agencies that administer these laws and regulations. We establish liabilities for legal claims and regulatory matters when such matters are both probable of occurring and any potential loss can be reasonably estimated. At June 30, 2023 and December 31, 2022 , our legal accruals were $ 19.0 million and $ 20.6 million, respectively. We accrue for such matters based on the facts and circumstances specific to each matter and revise these estimates as the matters evolve. In such cases, there may exist an exposure to loss in excess of any amounts currently accrued. Predicting the ultimate resolution of the pending matters, the related timing, or the eventual loss associated with these matters is inherently difficult. Accordingly, the liability arising from the ultimate resolution of any matter may exceed the estimate reflected in the recorded reserves relating to such matter. While the outcome of such contingencies cannot be predicted with certainty, we do not believe that the resolution of such matters will have a material adverse impact on our results of operations, financial position, or cash flows. On April 26, 2017, a class action complaint was filed in the Circuit Court of the Tenth Judicial Circuit in and for Polk County, Florida by Norman Gundel, William Mann, and Brenda Taylor against Avatar Properties, Inc. (an acquired AV Homes entity), generally alleging that our collection of club membership fees in connection with the use of one of our amenities in our East homebuilding segment violates various laws relating to homeowner associations and other Florida-specific laws. The class action complaint seeks an injunction to prohibit future collection of club membership fees. On November 2, 2021, the trial court determined that the club membership fees were improper and that plaintiffs were entitled to $ 35.0 million in fee reimbursements. We appealed the court’s ruling to the Sixth District Court of Appeal on November 29, 2021, and on June 23, 2023 the District Court affirmed the trial court judgment in a split decision, with three separate opinions. Recognizing the potential “far-reaching effects on homeowners associations throughout the State,” the District Court certified a question of great public importance to the Florida Supreme Court. We have since filed a notice to invoke the discretionary review of the Florida Supreme Court. Plaintiffs have agreed to continue to pay club membership fees pending the outcome of the appeal to the Florida Supreme Court. We believe, based on our assessment and the opinion of external legal counsel, that the trial and District Court’s legal interpretation constitutes legal error and the courts incorrectly ruled on this matter. In accordance with ASC Topic 450, Contingencies, we evaluated the range of loss and the likelihood of each potential amount of loss within the range. While the ultimate outcome and the costs associated with litigation are inherently uncertain and difficult to predict, in evaluating the potential outcomes, we believe the more likely outcome is that we win the appeal to the Florida Supreme Court. This belief is based on our review of the legal merit of the judgment and the opinions of the trial and District Courts, as well as the opinion of external legal counsel. Accordingly, in assessing the range of possible loss, we believe the more likely outcome is that we win on appeal to the Florida Supreme Court and will have zero liability. Leases — Our leases primarily consist of office space, construction trailers, model home leasebacks, a ground lease, equipment, and storage units. We assess each of these contracts to determine whether the arrangement contains a lease as defined by ASC 842, Leases . Lease obligations were $ 89.3 million and $ 100.2 million as of June 30, 2023 and December 31, 2022 , respectively. We recorded lease expense of approximately $ 6.4 million and $ 13.5 million for the three and six months ended June 30, 2023, and $ 6.7 million and $ 13.6 million for the three and six months ended June 30, 2022, within General and administrative expenses on our unaudited Condensed Consolidated Statement of Operations

MORTGAGE HEDGING ACTIVITIES

MORTGAGE HEDGING ACTIVITIES	6 Months Ended
MORTGAGE HEDGING ACTIVITIES	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
MORTGAGE HEDGING ACTIVITIES	14. MORTGAGE HEDGING ACTIVITIES The following summarizes derivative instrument assets (liabilities) as of the periods presented: As of June 30, 2023 December 31, 2022 (Dollars in thousands) Fair Value Notional Amount (1) Fair Value Notional Amount (1) IRLCs $ ( 77 ) $ 280,235 $ 2,386 $ 375,030 MBSs 1,166 478,887 1,090 504,000 Total $ 1,089 $ 3,476 (1) The notional amounts in the table above include mandatory and best effort mortgages, that have been locked and approved. Total commitments to originate loans approximated $ 307.4 million and $ 419.6 million as of June 30, 2023 and December 31, 2022, respectively. This amount represents the commitments to originate loans that have been locked and approved by underwriting. The notional amounts in the table above includes mandatory and best effort loans that have been locked and approved by underwriting. We have exposure to credit loss in the event of contractual non-performance by our trading counterparties in derivative instruments that we use in our rate risk management activities. We manage this credit risk by selecting only counterparties that we believe to be financially strong, spreading the risk among multiple counterparties, placing contractual limits on the amount of unsecured credit extended to any single counterparty, and entering into netting agreements with counterparties, as appropriate. Commitments to originate loans do not necessarily reflect future cash requirements as some commitments are expected to expire without being drawn upon.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation — The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “Annual Report”). Certain prior year amounts have been reclassified to conform to current year presentation. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements include all normal and recurring adjustments that are considered necessary for the fair presentation of our results for the interim periods presented. Results for interim periods are not necessarily indicative of results to be expected for a full fiscal year.
Joint Ventures	Joint Ventures - We consolidate certain joint ventures in accordance with Accounting Standards Codification (“ASC”) Topic 810, Consolidation. The income from the percentage of the joint venture not owned by us is presented as “Net income attributable to non-controlling interests” on the unaudited Condensed Consolidated Statement of Operations. The equity from the percentage of the joint ventures not owned by us is presented as “Non-controlling interests” on the unaudited Condensed Consolidated Statement of Stockholders’ Equity. The balance of Non-Controlling interests will fluctuate from period to period as a result of activities within the respective joint ventures which may include the allocation of income or losses, distributions or contributions associated with the partners within the joint venture.
Use of Estimates	Use of Estimates — The preparation of financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in the unaudited Condensed Consolidated Financial Statements and these accompanying notes. Significant estimates include real estate development costs to complete, valuation of real estate, valuation of acquired assets, valuation of goodwill, valuation of development liabilities, valuation of equity awards, valuation allowance on deferred tax assets, and reserves for warranty and self-insured risks. Actual results could differ from those estimates.
Real Estate Inventory	Real Estate Inventory — Inventory consists of raw land, land under development, homes under construction, completed homes, and model homes, all of which are stated at cost. In addition to direct carrying costs, we also capitalize interest, real estate taxes, and related development costs that benefit the entire community, such as field construction supervision and related direct overhead. Home vertical construction costs are accumulated and charged to Cost of home closings at the time of home closing using the specific identification method. Land acquisition, development, interest, and real estate taxes are allocated to homes and units generally using the relative sales value method. Generally, all overhead costs relating to purchasing, vertical construction of a home, and construction utilities are considered overhead costs and allocated on a per unit basis. These costs are capitalized to inventory from the point development begins to the point construction is completed. Changes in estimated costs to be incurred in a community are generally allocated to the remaining lots on a prospective basis. The life cycle of a typical community generally ranges from two to five years , commencing with the acquisition of unentitled or entitled land, continuing through the land development phase and concluding with the sale, construction and delivery of homes. Actual community duration will vary based on the size of the community, the sales absorption rate and whether we purchased the property as raw land or as finished lots. We capitalize qualifying interest costs to inventory during the development and construction periods. Capitalized interest is charged to Cost of home closings when the related inventory is charged to Cost of home closings. We assess the recoverability of our inventory in accordance with the provisions of ASC Topic 360, Property, Plant, and Equipment . We review our real estate inventory for indicators of impairment on a community-level basis during each reporting period. If indicators of impairment are present for a community, an undiscounted cash flow analysis is generally prepared in order to determine if the carrying value of the assets in that community exceeds the estimated undiscounted cash flows. Generally, if the carrying value of the assets exceeds their estimated undiscounted cash flows, the assets are potentially impaired, requiring a fair value analysis. Our determination of fair value is primarily based on a discounted cash flow model which includes projections and estimates relating to sales prices, construction costs, sales pace, and other factors. However, fair value can be determined through other methods, such as appraisals, contractual purchase offers, and other third party opinions of value. Changes in these expectations may lead to a change in the outcome of our impairment analysis, and actual results may also differ from our assumptions. For the three and six months ended June 30, 2023 and 2022 , no impairment charges to our real estate inventory were recorded. In certain cases, we may elect to cease development and/or marketing of an existing community if we believe the economic performance of the community would be maximized by deferring development for a period of time to allow for market conditions to improve. We refer to such communities as long-term strategic assets. The decision may be based on financial and/or operational metrics as determined by us. For those communities that have been temporarily closed or development has been discontinued, we do not allocate interest or other costs to the community's inventory until activity resumes. Such costs are expensed as incurred. In addition, if we decide to cease development, we will evaluate the project for impairment and then cease future development and marketing activity until such a time when we believe that market conditions have improved and economic performance can be maximized. Our assessment of the carrying value of our long-term strategic assets typically includes estimates of future performance, including the timing of when development will recommence, the type of product to be offered, and the margin to be realized. In the future, some of these inactive communities may be re-opened while others may be sold. As of June 30, 2023 and December 31, 2022, we had no inactive projects. In the ordinary course of business, we enter into various option agreements to acquire lots in staged takedowns which may require a significant cash deposit. We are not legally obligated to purchase the balance of the lots, but would forfeit any existing deposits and could be subject to financial and other penalties if the lots are not purchased. Real estate not owned under these agreements is reflected in Consolidated real estate not owned with a corresponding liability in Liabilities attributable to consolidated real estate not owned in the unaudited Condensed Consolidated Balance Sheets. Land held for sale — In some locations where we act as a developer, we occasionally purchase land that includes commercially zoned parcels or areas designated for school or government use, which we typically sell to commercial developers or municipalities, as applicable. We also sell residential lots or land parcels to manage our land and lot supply on larger tracts of land. Land is considered held for sale once management intends to actively sell a parcel within the next 12 months or the parcel is under contract to sell. Land held for sale is recorded at the lower of cost or fair value less costs to sell. In determining the value of land held for sale, we consider recent offers received, prices for land in recent comparable sales transactions, and other factors. We record fair value adjustments for land held for sale within Cost of land closings on the unaudited Condensed Consolidated Statements of Operations. Land banking arrangements — We have land purchase agreements with various land sellers. As a method of acquiring land in staged takedowns, while limiting risk and minimizing the use of funds from our available cash or other financing sources, we may transfer our right under certain specific performance agreements to entities owned by third parties (“land banking arrangements”). These entities use equity contributions from their owners and/or incur debt to finance the acquisition and development of the land. The entities grant us an option to acquire lots in staged takedowns. In consideration for this option, we make a non-refundable deposit. We are not legally obligated to purchase the balance of the lots, but would forfeit any existing deposits and could be subject to financial and other penalties if the lots were not purchased. We do not have an ownership interest in these entities or title to their assets and do not guarantee their liabilities. These land banking arrangements help us manage the financial and market risk associated with land holdings which are not included in the unaudited Condensed Consolidated Balance Sheets.
Investments in Consolidated and Unconsolidated Entities	Investments in Consolidated and Unconsolidated Entities Consolidated Entities — In the ordinary course of business, we enter into land purchase contracts, lot option contracts and land banking arrangements in order to procure land or lots for the construction of homes. Such contracts enable us to control significant lot positions with a minimal initial capital investment and substantially reduce the risk associated with land ownership and development. In accordance with ASC Topic 810, Consolidation , when we enter into agreements to acquire land or lots and pay a non-refundable deposit, we evaluate if a Variable Interest Entity (“VIE”) should be created if we are deemed to have provided subordinated financial support that will absorb some or all of an entity’s expected losses if they occur. If we are the primary beneficiary of the VIE, we consolidate the VIE and reflect such assets and liabilities as Consolidated real estate not owned and Liabilities attributable to consolidated real estate not owned, respectively, in the unaudited Condensed Consolidated Balance Sheets. Unconsolidated Joint Ventures — We use the equity method of accounting for entities which we exercise significant influence but do not have a controlling interest over the operating and financial policies of the investee. For unconsolidated entities in which we function as the managing member, we have evaluated the rights held by our joint venture partners and determined that the partners have substantive participating rights that preclude the presumption of control. Our share of net earnings or losses is included in Net income/loss from unconsolidated entities on the unaudited Condensed Consolidated Statement of Operations when earned and distributions are credited against our Investments in unconsolidated entities on the unaudited Condensed Consolidated Balance Sheets when received. We evaluate our investments in unconsolidated entities for indicators of impairment semi-annually. A series of operating losses of an investee or other factors may indicate that a decrease in value of our investment in the unconsolidated entity has occurred which is other-than-temporary. The amount of impairment recognized, if any, is the excess of the investment's carrying amount over its estimated fair value. Additionally, we consider various qualitative factors to determine if a decrease in the value of the investment is other-than-temporary. These factors include age of the venture, stage in its life cycle, intent and ability for us to recover our investment in the entity, financial condition and long-term prospects of the entity, short-term liquidity needs of the unconsolidated entity, trends in the general economic environment of the land, entitlement status of the land held by the unconsolidated entity, overall projected returns on investment, defaults under contracts with third parties (including bank debt), recoverability of the investment through future cash flows and relationships among the entity's partners. If we believe that the decline in the fair value of the investment is temporary, then no impairment is recorded. We recorded a $ 3.5 million impairment charge related to an investment in one of our unconsolidated entities for the three and six months ended June 30, 2022. No such charges were recorded for the three or six months ended June 30, 2023.
Revenue Recognition	Revenue Recognition — Revenue is recognized in accordance with ASC Topic 606, Revenue from Contracts with Customers (“Topic 606”) . The standard's core principle requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. Home and land closings revenue Under Topic 606, the following steps are applied to determine home closings revenue and land closings revenue recognition: (1) identify the contract(s) with our customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the performance obligation(s) are satisfied. Our home sales transactions, have one contract, with one performance obligation, with each customer to build and deliver the home purchased (or develop and deliver land). Based on the application of the five steps, the following summarizes the timing and manner of the recognition of home and land sales revenue: • Revenue from closings of residential real estate is recognized when the buyer has made the required minimum down payment, obtained necessary financing, the risks and rewards of ownership are transferred to the buyer, and we have no continuing involvement with the property, which is generally upon the close of escrow. Revenue is reported net of any discounts and incentives. • Revenue from land sales is recognized when a significant down payment is received, title passes and collectability of the receivable, if any, is reasonably assured, and we have no continuing involvement with the property, which is generally upon the close of escrow. Amenity and other revenue We own and operate certain amenities such as golf courses, clubhouses, and fitness centers, which require us to provide club members with access to the facilities in exchange for the payment of club dues. We collect club dues and other fees from club members, which are invoiced on a monthly basis. Revenue from our golf club operations is also included in amenity and other revenue. Amenity and other revenue also includes revenue from the sale of assets from our Urban Form and Build-to-Rent operations. Financial services revenue Mortgage operations and hedging activity related to financial services are not within the scope of Topic 606. Loan origination fees (including title fees, points, and closing costs) are recognized at the time the related real estate transactions are completed, which is usually upon the close of escrow. Generally, loans TMHF originates are sold to third party investors within a short period of time, on a non-recourse basis. Gains and losses from the sale of mortgages are recognized in accordance with ASC Topic 860-20, Sales of Financial Assets. TMHF does not have continuing involvement with the transferred assets; therefore, we derecognize the mortgage loans at time of sale, and based on the difference between the selling price and carrying value of the related loans upon sale, record a gain/loss on sale in the period of sale. Also included in Financial services revenue/expenses are realized and unrealized gains and losses from hedging instruments. ASC Topic 815-25, Derivatives and Hedging , requires that all hedging instruments be recognized as assets or liabilities on the balance sheet at their fair value. We do not meet the criteria for hedge accounting; therefore, we account for these instruments as free-standing derivatives, with changes in fair value recognized in Financial services revenue/expenses on the statement of operations in the period in which they occur.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
EARNINGS PER SHARE (Tables)	Jun. 30, 2023
Earnings Per Share [Abstract]
Summary of Components of Basic and Diluted Earnings Per Share	The following is a summary of the components of basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended Six Months Ended 2023 2022 2023 2022 Numerator: Net income available to TMHC $ 234,602 $ 290,987 $ 425,653 $ 467,690 Denominator: Weighted average shares – basic 109,210 117,932 108,822 119,550 Restricted stock units 804 513 863 667 Stock Options 842 486 781 579 Weighted average shares – diluted 110,856 118,931 110,466 120,796 Earnings per common share – basic: Net income available to Taylor Morrison Home Corporation $ 2.15 $ 2.47 $ 3.91 $ 3.91 Earnings per common share – diluted: Net income available to Taylor Morrison Home Corporation $ 2.12 $ 2.45 $ 3.85 $ 3.87

REAL ESTATE INVENTORY AND LAN_2

REAL ESTATE INVENTORY AND LAND DEPOSITS (Tables)	6 Months Ended
REAL ESTATE INVENTORY AND LAND DEPOSITS (Tables)	Jun. 30, 2023
Real Estate [Abstract]
Schedule of Inventory	Inventory consists of the following (in thousands): As of June 30, December 31, Real estate developed and under development $ 3,613,811 $ 3,607,227 Real estate held for development or held for sale (1) 56,035 43,314 Total owned 3,669,846 3,650,541 Operating communities (2) 1,371,703 1,506,241 Capitalized interest 191,304 190,123 Total owned inventory 5,232,853 5,346,905 Consolidated real estate not owned 892 23,971 Total real estate inventory $ 5,233,745 $ 5,370,876 (1) Real estate held for development or held for sale includes properties which are not in active production. (2) Operating communities consist of all vertical construction costs relating to homes in progress and completed homes.
Summary of Development Status of Land Inventory	The development status of our land inventory is as follows (dollars in thousands): As of June 30, 2023 December 31, 2022 Owned Lots Book Value Owned Lots Book Value Homebuilding owned lots Undeveloped 13,585 $ 453,893 14,985 $ 522,594 Under development 8,671 924,530 10,716 1,106,751 Finished 19,154 2,289,534 18,366 2,018,062 Total homebuilding owned lots 41,410 3,667,957 44,067 3,647,407 Other assets (1) — 1,889 — 3,134 Total owned lots 41,410 $ 3,669,846 44,067 $ 3,650,541 (1) The remaining book value of land and development relates to parcels of commercial assets which are . excluded from the owned lots presented in the table.
Schedule Of Controlled Lots	The table below presents a summary of our controlled lots for the following periods (dollars in thousands): As of June 30, 2023 December 31, 2022 Controlled Lots Purchase Price Land Deposits (1) Controlled Lots Purchase Price Land Deposits (1) Homebuilding controlled lots Land option purchase contracts 5,946 $ 455,581 $ 38,547 6,582 $ 428,612 $ 47,678 Land banking arrangements 6,816 991,636 145,817 7,369 1,057,065 156,653 Other controlled lots 18,272 923,510 19,667 16,891 956,712 50,218 Total controlled lots 31,034 $ 2,370,727 $ 204,031 30,842 $ 2,442,389 $ 254,549 (1) Land deposits are non-refundable and represent exposure to loss related to our contracts with third parties, unconsolidated entities, and land banking arrangements. . In addition, at June 30, 2023 and December 31, 2022 we had refundable deposits of $ 3.9 million and $ 8.8 million respectively.
Schedule of Interest Capitalized, Incurred, Expensed and Amortized	Capitalized Interest — Interest capitalized, incurred and amortized is as follows (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Interest capitalized - beginning of period $ 196,607 $ 177,969 $ 190,123 $ 168,670 Interest incurred and capitalized (1) 32,049 40,815 66,182 80,544 Interest amortized to cost of home closings ( 37,352 ) ( 33,420 ) ( 65,001 ) ( 63,850 ) Interest capitalized - end of period $ 191,304 $ 185,364 $ 191,304 $ 185,364 (1) Excludes Interest expense, net on the unaudited Condensed Consolidated Statement of Operations as such amounts are not capitalizable.

INVESTMENTS IN CONSOLIDATED A_2

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES (Tables)	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Summarized Financial Information of Unconsolidated Entities Accounted by Equity Method	Summarized, unaudited condensed combined financial information of unconsolidated entities that are accounted for by the equity method are as follows (in thousands): As of June 30, December 31, Assets: Real estate inventory $ 833,192 $ 749,942 Other assets 168,072 146,770 Total assets $ 1,001,264 $ 896,712 Liabilities and owners’ equity: Debt $ 277,282 $ 238,263 Other liabilities 44,792 31,824 Total liabilities $ 322,074 $ 270,087 Owners’ equity: TMHC $ 306,265 $ 282,900 Others 372,925 343,725 Total owners’ equity $ 679,190 $ 626,625 Total liabilities and owners’ equity $ 1,001,264 $ 896,712 Three Months Ended Six Months Ended 2023 2022 2023 2022 Revenues $ 32,100 $ 94,166 $ 51,637 $ 124,567 Costs and expenses ( 24,067 ) ( 94,086 ) ( 38,766 ) ( 119,016 ) Net income from unconsolidated entities $ 8,033 $ 80 $ 12,871 $ 5,551 TMHC’s share in net income/(loss) of unconsolidated entities $ 3,186 $ ( 3,637 ) $ 5,115 $ ( 1,806 ) Distributions to TMHC from unconsolidated entities $ 4,687 $ 88,770 $ 5,884 $ 90,828

ACCRUED EXPENSES AND OTHER LI_2

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	6 Months Ended
ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	Jun. 30, 2023
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following (in thousands): As of As of Real estate development costs to complete $ 50,915 $ 53,155 Compensation and employee benefits 91,333 112,294 Self-insurance and warranty reserves 160,326 161,675 Interest payable 37,064 37,434 Property and sales taxes payable 24,233 30,046 Other accruals 98,161 95,649 Total accrued expenses and other liabilities $ 462,032 $ 490,253
Summary of Changes in Reserves	A summary of the changes in reserves are as follows (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Reserve - beginning of period $ 158,222 $ 140,970 $ 161,675 $ 141,839 Additions to reserves 24,887 23,519 39,334 32,403 Cost of claims incurred ( 23,318 ) ( 27,729 ) ( 43,826 ) ( 40,202 ) Changes in estimates to pre-existing reserves 535 731 3,143 3,451 Reserve - end of period $ 160,326 $ 137,491 $ 160,326 $ 137,491

DEBT (Tables)

DEBT (Tables)	6 Months Ended
DEBT (Tables)	Jun. 30, 2023
Debt Disclosure [Abstract]
Senior Notes and Other Borrowings	Total debt consists of the following (in thousands): As of June 30, 2023 December 31, 2022 Principal Unamortized Carrying Principal Unamortized Carrying 5.625 % Senior Notes due 2024 350,000 ( 359 ) 349,641 350,000 ( 628 ) 349,372 5.875 % Senior Notes due 2027 500,000 ( 3,063 ) 496,937 500,000 ( 3,459 ) 496,541 6.625 % Senior Notes due 2027 (1) 27,070 1,166 28,236 27,070 1,310 28,380 5.75 % Senior Notes due 2028 450,000 ( 2,867 ) 447,133 450,000 ( 3,183 ) 446,817 5.125 % Senior Notes due 2030 500,000 ( 4,490 ) 495,510 500,000 ( 4,807 ) 495,193 Senior Notes subtotal $ 1,827,070 $ ( 9,613 ) $ 1,817,457 $ 1,827,070 $ ( 10,767 ) $ 1,816,303 Loans payable and other borrowings 326,216 — 326,216 361,486 — 361,486 $ 1 Billion Revolving Credit Facility (2)(3) — — — — — — $ 100 Million Revolving Credit Facility (2)(3) — — — — — — Mortgage warehouse borrowings 249,898 — 249,898 306,072 — 306,072 Total debt $ 2,403,184 $ ( 9,613 ) $ 2,393,571 $ 2,494,628 $ ( 10,767 ) $ 2,483,861 (1) Unamortized Debt Issuance (Cost)/Premium for such notes is reflective of fair value adjustments as a result of purchase accounting. (2) Unamortized debt issuance costs are included in the Prepaid expenses and other assets, net on the Condensed Consolidated Balance Sheets. (3) The $ 1 Billion Revolving Credit Facility Agreement together with the $ 100 Million Revolving Credit Facility Agreement, the “Revolving Credit Facilities”.
Summary of Mortgage Subsidiary Borrowings	The following is a summary of our mortgage warehouse borrowings (in thousands): As of June 30, 2023 Facility Amount Facility Interest Expiration Collateral (1) Warehouse A $ 51,735 $ 60,000 Daily SOFR + 1.70 % on Demand Mortgage Loans Warehouse B (2) 18,446 75,000 BSBY 1M + 1.65 % on Demand Mortgage Loans Warehouse C 60,512 100,000 Term SOFR + 1.65 % on Demand Mortgage Loans & Pledged Cash Warehouse D (3) 57,835 70,000 Daily SOFR + 1.50 % September 6, 2023 Mortgage Loans Warehouse E 61,370 70,000 Term SOFR + 1.60 % on Demand Mortgage Loans Total $ 249,898 $ 375,000 As of December 31, 2022 Facility Amount Facility Interest Expiration Collateral (1) Warehouse A $ 29,066 $ 60,000 Daily SOFR + 1.70 % on Demand Mortgage Loans Warehouse B 94,258 150,000 BSBY 1M + 1.65 % on Demand Mortgage Loans Warehouse C 53,607 75,000 Term SOFR + 1.65 % on Demand Mortgage Loans & Pledged Cash Warehouse D 83,259 140,000 Daily SOFR + 1.50 % September 6, 2023 Mortgage Loans Warehouse E 45,882 70,000 Term SOFR + 1.60 % on Demand Mortgage Loans Total $ 306,072 $ 495,000 (1) The mortgage warehouse borrowings outstanding as of June 30, 2023 and December 31, 2022 were collateralized by $ 287.0 million and $ 346.4 million, respectively, of mortgage loans held for sale, which comprise the balance of mortgage loans held for sale, and approximately $ 0.8 million and $ 2.1 million, respectively, of restricted cash on our unaudited Condensed Consolidated Balance Sheets. (2) Beginning October 1, 2023, the lender for Warehouse B will discontinue providing mortgage warehouse facility financing to the industry in general. However, the line will not be terminated until all loans are sold or transferred. We expect to replace the liquidity provided by Warehouse B by expanding the size of other facilities, and do not believe the termination of Warehouse B will have a significant impact on our liquidity or mortgage operations. (3) We intend on renewing this warehouse facility upon expiration.

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	6 Months Ended
FAIR VALUE DISCLOSURES (Tables)	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Carrying Value and Fair Value of Financial Instruments	The carrying value and fair value of our financial instruments are as follows: June 30, 2023 December 31, 2022 (Dollars in thousands) Level in Fair Carrying Estimated Carrying Estimated Description: Mortgage loans held for sale 2 $ 287,001 $ 287,001 $ 346,364 $ 346,364 IRLCs 3 ( 77 ) ( 77 ) 2,386 2,386 MBSs 2 1,166 1,166 1,090 1,090 Mortgage warehouse borrowings 2 249,898 249,898 306,072 306,072 Loans payable and other borrowings 2 326,216 326,216 361,486 361,486 5.625 % Senior Notes due 2024 (1) 2 349,641 347,375 349,372 347,375 5.875 % Senior Notes due 2027 (1) 2 496,937 491,095 496,541 480,060 6.625 % Senior Notes due 2027 (1) 2 28,236 26,778 28,380 26,123 5.75 % Senior Notes due 2028 (1) 2 447,133 435,119 446,817 421,358 5.125 % Senior Notes due 2030 (1) 2 495,510 461,745 495,193 434,330 Equity Security 1 460 460 460 460 Carrying value for Senior Notes, as presented, includes unamortized debt issuance costs and premiums. Debt issuance costs are not factored into the fair value calculation for the Senior Notes.
Fair Value of Assets Measured on a Nonrecurring Basis	Fair value measurements are used for inventories on a nonrecurring basis when events and circumstances indicate that their carrying value is not recoverable. The following table presents the fair value for our inventories measured at fair value on a nonrecurring basis: (Dollars in thousands) Level in Fair As of Description: Real estate inventories 3 $ 48,360

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
STOCKHOLDERS' EQUITY (Tables)	Jun. 30, 2023
Equity [Abstract]
Stock Repurchases	The following table summarizes share repurchase activity for the periods presented: Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands) 2023 2022 2023 2022 Amount available for repurchase — beginning of period $ 275,570 $ 172,384 $ 279,138 $ 230,413 Amount cancelled from expired or unused authorizations — ( 75,000 ) — ( 75,000 ) Additional amount authorized for repurchase — 500,000 — 500,000 Amount repurchased — ( 172,384 ) ( 3,568 ) ( 230,413 ) Amount available for repurchase — end of period $ 275,570 $ 425,000 $ 275,570 $ 425,000

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	6 Months Ended
STOCK BASED COMPENSATION (Tables)	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Share-based Payment Arrangement Activity	The following table provides the outstanding balance of RSUs, PRSUs, and stock options as of June 30, 2023: Restricted Stock Units Stock Options Units Weighted Average Units Weighted Balance at June 30, 2023 1,489,690 $ 30.20 2,429,418 $ 26.50
Summary of Stock-Based Compensation Expense	The following table provides information regarding the amount and components of stock-based compensation expense, all of which is included in General and administrative expenses in the unaudited Condensed Consolidated Statements of Operations (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Restricted stock units (1) $ 4,212 $ 4,137 $ 10,887 $ 9,918 Stock options 1,059 1,141 1,917 2,223 Total stock compensation $ 5,271 $ 5,278 $ 12,804 $ 12,141 (1) Includes compensation expense related to time-based RSUs and PRSUs.

REPORTING SEGMENTS (Tables)

REPORTING SEGMENTS (Tables)	6 Months Ended
REPORTING SEGMENTS (Tables)	Jun. 30, 2023
Segment Reporting [Abstract]
Summary of Reporting Segments	Our reporting segments are as follows: East Atlanta, Charlotte, Jacksonville, Naples, Orlando, Raleigh, Sarasota, and Tampa Central Austin, Dallas, Denver, and Houston West Bay Area, Las Vegas, Phoenix, Portland, Sacramento, Seattle, and Southern California Financial Services Taylor Morrison Home Funding, Inspired Title Services, and Taylor Morrison Insurance Services
Summary of Segment Information	Segment information is as follows (in thousands): Three Months Ended June 30, 2023 East Central West Financial Corporate (1) Total Total revenue $ 740,064 $ 623,207 $ 652,257 $ 41,914 $ 3,122 $ 2,060,564 Gross margin 203,165 160,485 119,113 16,572 350 499,685 Selling, general and administrative expenses ( 47,904 ) ( 45,390 ) ( 47,101 ) ( 91 ) ( 43,197 ) ( 183,683 ) Net income/(loss) from unconsolidated entities — 100 ( 173 ) 3,259 — 3,186 Interest and other (expense)/income, net (2) ( 1,136 ) ( 1,520 ) ( 3,007 ) — 2,234 ( 3,429 ) Income/(loss) before income taxes $ 154,125 $ 113,675 $ 68,832 $ 19,740 $ ( 40,613 ) $ 315,759 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Interest and other income/(expense), net includes pre-acquisition write-offs of terminated projects. Three Months Ended June 30, 2022 East Central West Financial Services Corporate (1) Total Total revenue $ 635,862 $ 457,512 $ 832,274 $ 35,471 $ 33,904 $ 1,995,023 Gross margin 174,535 117,356 222,687 13,988 12,914 541,480 Selling, general and administrative expenses ( 44,589 ) ( 33,499 ) ( 42,374 ) — ( 45,080 ) ( 165,542 ) Net (loss)/income from unconsolidated entities — ( 39 ) ( 5,793 ) 2,195 — ( 3,637 ) Interest and other income/(expense), net (2) 10,110 ( 1,076 ) ( 3,703 ) — 494 5,825 Gain on extinguishment of debt, net — — — — 13,471 13,471 Income/(loss) before income taxes $ 140,056 $ 82,742 $ 170,817 $ 16,183 $ ( 18,201 ) $ 391,597 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Interest and other income/(expense), net includes pre-acquisition write-offs of terminated projects. Six Months Ended June 30, 2023 East Central West Financial Corporate (1) Total Total revenue $ 1,350,877 $ 1,088,219 $ 1,200,162 $ 77,063 $ 6,100 $ 3,722,421 Gross margin 368,872 271,798 227,741 29,573 1,267 899,251 Selling, general and administrative expenses ( 90,951 ) ( 82,346 ) ( 87,585 ) ( 91 ) ( 81,731 ) ( 342,704 ) Net income/(loss) from unconsolidated entities — 19 ( 408 ) 5,534 ( 30 ) 5,115 Interest and other (expense)/income, net (2) ( 2,348 ) ( 2,861 ) 772 — 6,953 2,516 Income/(loss) before income taxes $ 275,573 $ 186,610 $ 140,520 $ 35,016 $ ( 73,541 ) $ 564,178 (1) Includes the activity from our Build-To-Rent and Urban Form operations (2) Interest and other income/(expense), net includes pre-acquisition write-offs of terminated projects. (3) Six Months Ended June 30, 2022 East Central West Financial Corporate (1) Total Total revenue $ 1,160,983 $ 828,247 $ 1,602,484 $ 70,670 $ 35,763 $ 3,698,147 Gross margin 300,226 191,364 404,218 24,973 13,827 934,608 Selling, general and administrative expenses ( 84,915 ) ( 62,939 ) ( 85,893 ) — ( 89,060 ) ( 322,807 ) Net income/(loss) from unconsolidated entities — 46 ( 6,105 ) 4,253 0 ( 1,806 ) Interest and other income/(expense), net (2) 9,678 ( 2,936 ) ( 5,669 ) — ( 42 ) 1,031 Gain on extinguishment of debt, net — — — — 13,471 13,471 Income/(loss) before income taxes $ 224,989 $ 125,535 $ 306,551 $ 29,226 $ ( 61,804 ) $ 624,497 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Interest and other income/(expense), net includes pre-acquisition write-offs of terminated projects.
Summary of Assets by Segment	As of June 30, 2023 East Central West Financial Services Corporate (1) Total Real estate inventory and land deposits $ 1,811,595 $ 1,153,486 $ 2,476,610 $ — $ — $ 5,441,691 Investments in unconsolidated entities 49,359 114,867 82,656 5,283 54,100 306,265 Other assets 164,370 231,157 600,774 373,674 1,630,858 3,000,833 Total assets $ 2,025,324 $ 1,499,510 $ 3,160,040 $ 378,957 $ 1,684,958 $ 8,748,789 (1) Includes the assets from our Build-To-Rent and Urban Form operations. As of December 31, 2022 East Central West Financial Corporate (1) Total Real estate inventory and land deposits $ 1,820,765 $ 1,359,805 $ 2,453,662 $ — $ — $ 5,634,232 Investments in unconsolidated entities 46,629 104,070 80,310 5,283 46,608 282,900 Other assets 216,816 251,727 613,029 431,535 1,040,485 2,553,592 Total assets $ 2,084,210 $ 1,715,602 $ 3,147,001 $ 436,818 $ 1,087,093 $ 8,470,724 (1) Includes the assets from our Build-To-Rent and Urban Form operations.

MORTGAGE HEDGING ACTIVITIES (Ta

MORTGAGE HEDGING ACTIVITIES (Tables)	6 Months Ended
MORTGAGE HEDGING ACTIVITIES (Tables)	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summaries of Derivative Instruments	The following summarizes derivative instrument assets (liabilities) as of the periods presented: As of June 30, 2023 December 31, 2022 (Dollars in thousands) Fair Value Notional Amount (1) Fair Value Notional Amount (1) IRLCs $ ( 77 ) $ 280,235 $ 2,386 $ 375,030 MBSs 1,166 478,887 1,090 504,000 Total $ 1,089 $ 3,476 (1) The notional amounts in the table above include mandatory and best effort mortgages, that have been locked and approved.

BUSINESS (Details)

BUSINESS (Details)	6 Months Ended
BUSINESS (Details)	Jun. 30, 2023 Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	4

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Significant Accounting Policies [Line Items]
Impairment charges on unconsolidated entities	$ 3,500,000	$ 0	$ 3,500,000	$ 0
Continuing Operations
Significant Accounting Policies [Line Items]
Inventory Write-down	$ 0	$ 0	$ 0	$ 0
Minimum
Significant Accounting Policies [Line Items]
Life cycle of communities (in years)			2 years
Maximum
Significant Accounting Policies [Line Items]
Life cycle of communities (in years)			5 years

EARNINGS PER SHARE - Summary of

EARNINGS PER SHARE - Summary of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net income available to TMHC	$ 234,602	$ 290,987	$ 425,653	$ 467,690
Denominator:
Weighted average shares - basic (in shares)	109,210	117,932	108,822	119,550
Restricted stock units (in shares)	804	513	863	667
Stock Options (in shares)	842	486	781	579
Weighted average shares - diluted (in shares)	110,856	118,931	110,466	120,796
Earnings per common share — basic:
Net income available to Taylor Morrison Home Corporation (in dollars per share)	$ 2.15	$ 2.47	$ 3.91	$ 3.91
Earnings per common share — diluted:
Net income available to Taylor Morrison Home Corporation (in dollars per share)	$ 2.12	$ 2.45	$ 3.85	$ 3.87

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares	3 Months Ended		6 Months Ended
EARNINGS PER SHARE - Narrative (Details) - shares	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stock options and restricted stock units (RSUs)
Dilutive Securities Included And Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of earnings per share (in shares)	347,052	2,176,897	267,531	1,462,766

REAL ESTATE INVENTORY AND LAN_3

REAL ESTATE INVENTORY AND LAND DEPOSITS - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Inventory [Line Items]
Real estate developed or under development	$ 3,613,811		$ 3,607,227
Real estate held for development or held for sale	56,035		43,314
Operating communities	1,371,703		1,506,241
Capitalized interest	191,304	$ 196,607	190,123	$ 185,364	$ 177,969	$ 168,670
Total owned inventory	5,232,853		5,346,905
Consolidated real estate not owned	892		23,971
Total real estate inventory	5,233,745		5,370,876
Book Value of Land Developed and Under Development
Inventory [Line Items]
Total owned	$ 3,669,846		$ 3,650,541

REAL ESTATE INVENTORY AND LAN_4

REAL ESTATE INVENTORY AND LAND DEPOSITS - Schedule of Development Status of Land Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Book Value of Land Developed and Under Development
Inventory [Line Items]
Undeveloped	$ 453,893	$ 522,594
Under development	924,530	1,106,751
Finished	2,289,534	2,018,062
Total homebuilding owned lots	3,667,957	3,647,407
Other assets	1,889	3,134
Total owned	3,669,846	3,650,541
Owned Lots
Inventory [Line Items]
Undeveloped	13,585	14,985
Under development	8,671	10,716
Finished	19,154	18,366
Total homebuilding owned lots	41,410	44,067
Other assets	0	0
Total owned	$ 41,410	$ 44,067

REAL ESTATE INVENTORY AND LAN_5

REAL ESTATE INVENTORY AND LAND DEPOSITS - Schedule of Controlled Lots (Details) $ in Thousands	Jun. 30, 2023 USD ($) Lot	Dec. 31, 2022 USD ($) Lot
Real Estate [Line Items]
Controlled Lots (in lots) \| Lot	31,034	30,842
Purchase Price	$ 2,370,727	$ 2,442,389
Land deposits	$ 204,031	$ 254,549
Land option purchase contracts
Real Estate [Line Items]
Controlled Lots (in lots) \| Lot	5,946	6,582
Purchase Price	$ 455,581	$ 428,612
Land deposits	$ 38,547	$ 47,678
Land banking arrangements
Real Estate [Line Items]
Controlled Lots (in lots) \| Lot	6,816	7,369
Purchase Price	$ 991,636	$ 1,057,065
Land deposits	$ 145,817	$ 156,653
Other controlled lots
Real Estate [Line Items]
Controlled Lots (in lots) \| Lot	18,272	16,891
Purchase Price	$ 923,510	$ 956,712
Land deposits	19,667	50,218
Refundable Land Deposits
Real Estate [Line Items]
Land deposits	$ 3,900	$ 8,800

REAL ESTATE INVENTORY AND LAN_6

REAL ESTATE INVENTORY AND LAND DEPOSITS - Schedule of Interest Capitalized, Incurred, Expensed and Amortized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Capitalized Interest Costs [Roll Forward]
Interest capitalized — beginning of period	$ 196,607	$ 177,969	$ 190,123	$ 168,670
Interest incurred	32,049	40,815	66,182	80,544
Interest amortized to cost of home closings	(37,352)	(33,420)	(65,001)	(63,850)
Interest capitalized — end of period	$ 191,304	$ 185,364	$ 191,304	$ 185,364

INVESTMENTS IN CONSOLIDATED A_3

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Assets	$ 8,748,789	$ 8,470,724
Cash and cash equivalents	1,227,264	724,488
Fixed assets	223,847	202,398
Liabilities	3,653,476	3,823,865
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	273,900	277,600
Cash and cash equivalents	23,900	38,900
Owned inventory	75,900	72,000
Fixed assets	123,000	123,200
Liabilities	$ 149,100	$ 155,500

INVESTMENTS IN CONSOLIDATED A_4

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES - Summarized Balance Sheets of Unconsolidated Entities Accounted by Equity Method (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets:
Other assets	$ 3,000,833	$ 2,553,592
Total assets	8,748,789	8,470,724
Liabilities and owners’ equity:
Debt	2,393,571	2,483,861
Total liabilities	3,653,476	3,823,865
Owners’ equity:
Total liabilities and stockholders’ equity	8,748,789	8,470,724
Equity Method Investments \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
Assets:
Real estate inventory	833,192	749,942
Other assets	168,072	146,770
Total assets	1,001,264	896,712
Liabilities and owners’ equity:
Debt	277,282	238,263
Other liabilities	44,792	31,824
Total liabilities	322,074	270,087
Owners’ equity:
TMHC	306,265	282,900
Others	372,925	343,725
Total owners’ equity	679,190	626,625
Total liabilities and stockholders’ equity	$ 1,001,264	$ 896,712

INVESTMENTS IN CONSOLIDATED A_5

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES - Summarized Statements of Operations of Unconsolidated Entities Accounted by Equity Method (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Equity Method Investments [Line Items]
Revenues	$ 2,060,564	$ 1,995,023	$ 3,722,421	$ 3,698,147
Costs and expenses	(1,560,879)	(1,453,543)	(2,823,170)	(2,763,539)
Net income from unconsolidated entities	3,186	(3,637)	5,115	(1,806)
Distributions to TMHC from unconsolidated entities			5,534	4,252
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Revenues	32,100	94,166	51,637	124,567
Costs and expenses	(24,067)	(94,086)	(38,766)	(119,016)
Net income from unconsolidated entities	8,033	80	12,871	5,551
TMHC's share in net income/(loss) of unconsolidated entities	3,186	(3,637)	5,115	(1,806)
Distributions to TMHC from unconsolidated entities	$ 4,687	$ 88,770	$ 5,884	$ 90,828

ACCRUED EXPENSES AND OTHER LI_3

ACCRUED EXPENSES AND OTHER LIABILITIES - Summary of Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Real estate development costs to complete	$ 50,915		$ 53,155
Compensation and employee benefits	91,333		112,294
Self-insurance and warranty reserves	160,326	$ 158,222	161,675	$ 137,491	$ 140,970	$ 141,839
Interest payable	37,064		37,434
Property and sales taxes payable	24,233		30,046
Other accruals	98,161		95,649
Total accrued expenses and other liabilities	$ 462,032		$ 490,253

ACCRUED EXPENSES AND OTHER LI_4

ACCRUED EXPENSES AND OTHER LIABILITIES - Summary of Changes in Reserves (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Summary of changes in warranty reserves
Reserves — beginning of period	$ 158,222	$ 140,970	$ 161,675	$ 141,839
Additions to reserves	24,887	23,519	39,334	32,403
Costs and claims incurred	(23,318)	(27,729)	(43,826)	(40,202)
Change in estimates to pre-existing reserves	535	731	3,143	3,451
Reserves — end of period	$ 160,326	$ 137,491	$ 160,326	$ 137,491

DEBT - Senior Notes and Other B

DEBT - Senior Notes and Other Borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Facility Amount	$ 375,000	$ 495,000
Principal	2,403,184	2,494,628
Unamortized Debt Issuance (Costs) / Premium	(9,613)	(10,767)
Carrying Value	2,393,571	2,483,861
Loans payable and other borrowings
Debt Instrument [Line Items]
Principal	326,216	361,486
Unamortized Debt Issuance (Costs) / Premium	0	0
Carrying Value	326,216	361,486
Mortgage warehouse borrowings
Debt Instrument [Line Items]
Principal	249,898	306,072
Unamortized Debt Issuance (Costs) / Premium	0	0
Carrying Value	249,898	306,072
Senior Notes
Debt Instrument [Line Items]
Principal	1,827,070	1,827,070
Unamortized Debt Issuance (Costs) / Premium	(9,613)	(10,767)
Carrying Value	$ 1,817,457	$ 1,816,303
Senior Notes \| 5.625% Senior Notes due 2024
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.625%	5.625%
Principal	$ 350,000	$ 350,000
Unamortized Debt Issuance (Costs) / Premium	(359)	(628)
Carrying Value	$ 349,641	$ 349,372
Senior Notes \| 5.875% Senior Notes due 2027
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.875%	5.875%
Principal	$ 500,000	$ 500,000
Unamortized Debt Issuance (Costs) / Premium	(3,063)	(3,459)
Carrying Value	$ 496,937	$ 496,541
Senior Notes \| 6.625% Senior Notes Due 2027
Debt Instrument [Line Items]
Stated interest rate of senior notes	6.625%	6.625%
Principal	$ 27,070	$ 27,070
Unamortized Debt Issuance (Costs) / Premium	1,166	1,310
Carrying Value	$ 28,236	$ 28,380
Senior Notes \| 5.75% Senior Notes due 2028
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.75%
Senior Notes \| 5.75% Senior Notes Due 2028
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.75%	5.75%
Principal	$ 450,000	$ 450,000
Unamortized Debt Issuance (Costs) / Premium	(2,867)	(3,183)
Carrying Value	$ 447,133	$ 446,817
Senior Notes \| 5.125% Senior Notes due 2030
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.125%	5.125%
Principal	$ 500,000	$ 500,000
Unamortized Debt Issuance (Costs) / Premium	(4,490)	(4,807)
Carrying Value	495,510	495,193
Line of Credit \| $1 Billion Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Facility Amount	1,000,000	1,000,000
Principal	0	0
Unamortized Debt Issuance (Costs) / Premium	0	0
Carrying Value	0	0
Line of Credit \| $100 Million Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Facility Amount	100,000	100,000
Principal	0	0
Unamortized Debt Issuance (Costs) / Premium	0	0
Carrying Value	$ 0	$ 0

DEBT - Revolving Credit Facilit

DEBT - Revolving Credit Facility (Details) $ in Thousands	6 Months Ended
DEBT - Revolving Credit Facility (Details) $ in Thousands	Jun. 30, 2023 USD ($) Equitycureright Fiscalquarter	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit	$ 375,000	$ 495,000
Letters of credit utilized	1,300,000	1,200,000
Revolving credit facility borrowings	0	0
Revolving Credit Facility \| $1 Billion Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit	$ 1,000,000	1,000,000
Maturity date	Mar. 11, 2027
Letters of credit utilized	$ 71,900	69,200
Revolving credit facility borrowings	40,000
Unamortized debt issuance costs	3,300	3,800
Availability under revolving credit facility	$ 928,100	930,800
Maximum capitalization ratio	60%
Minimum consolidated tangible net worth requirement	$ 3,200,000
Number of consecutive fiscal quarters in which equity cure right can be used twice (in fiscal quarter) \| Fiscalquarter	4
Maximum number of times equity cure right can be exercised \| Equitycureright	5
Revolving Credit Facility \| $100 Million Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit	$ 100,000	$ 100,000
Maximum consecutive days for financial covenant	5 days

Debt - Summary of Mortgage Ware

Debt - Summary of Mortgage Warehouse Borrowings (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Amount Drawn	$ 249,898	$ 306,072
Facility Amount	375,000	495,000
Secured Debt
Line of Credit Facility [Line Items]
Restricted cash and investments, current	800	2,100
Secured Debt \| Warehouse A
Line of Credit Facility [Line Items]
Amount Drawn	51,735	29,066
Facility Amount	$ 60,000	$ 60,000
Collateral	Mortgage Loans	Mortgage Loans
Secured Debt \| Warehouse B
Line of Credit Facility [Line Items]
Amount Drawn	$ 18,446	$ 94,258
Facility Amount	$ 75,000	$ 150,000
Collateral	Mortgage Loans	Mortgage Loans
Secured Debt \| Warehouse C
Line of Credit Facility [Line Items]
Amount Drawn	$ 60,512	$ 53,607
Facility Amount	$ 100,000	$ 75,000
Collateral	Mortgage Loans & Pledged Cash	Mortgage Loans & Pledged Cash
Secured Debt \| Warehouse D
Line of Credit Facility [Line Items]
Amount Drawn	$ 57,835	$ 83,259
Facility Amount	$ 70,000	$ 140,000
Collateral	Mortgage Loans	Mortgage Loans
Secured Debt \| Warehouse E
Line of Credit Facility [Line Items]
Amount Drawn	$ 61,370	$ 45,882
Facility Amount	$ 70,000	$ 70,000
Collateral	Mortgage Loans	Mortgage Loans
Secured Overnight Financing Rate (SOFR) \| Secured Debt \| Warehouse A
Line of Credit Facility [Line Items]
Interest rate	1.70%	1.70%
Secured Overnight Financing Rate (SOFR) \| Secured Debt \| Warehouse C
Line of Credit Facility [Line Items]
Interest rate	1.65%	1.65%
Secured Overnight Financing Rate (SOFR) \| Secured Debt \| Warehouse D
Line of Credit Facility [Line Items]
Interest rate	1.50%	1.50%
Secured Overnight Financing Rate (SOFR) \| Secured Debt \| Warehouse E
Line of Credit Facility [Line Items]
Interest rate	1.60%	1.60%
Bloomberg Short Term Bank Yield Index (BSBY) [Member] \| Secured Debt \| Warehouse B
Line of Credit Facility [Line Items]
Interest rate	1.65%	1.65%
Mortgage loans
Line of Credit Facility [Line Items]
Mortgage loans held for sale	$ 287,000	$ 346,400

DEBT - Loans Payable and Other

DEBT - Loans Payable and Other Borrowings (Details) - Loans Payable and Other Borrowings	Jun. 30, 2023	Dec. 31, 2022
Minimum
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0%	0%
Maximum
Debt Instrument [Line Items]
Stated interest rate (as a percent)	9%	8%

FAIR VALUE DISCLOSURES - Summar

FAIR VALUE DISCLOSURES - Summary of Carrying Value and Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Facility Amount	$ 375,000	$ 495,000
Senior Notes \| 5.625% Senior Notes due 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt interest rate	5.625%	5.625%
Senior Notes \| 5.875% Senior Notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt interest rate	5.875%	5.875%
Senior Notes \| 6.625% Senior Notes Due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt interest rate	6.625%	6.625%
Senior Notes \| 5.75% Senior Notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt interest rate	5.75%
Senior Notes \| 5.125% Senior Notes due 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt interest rate	5.125%	5.125%
Line of Credit \| $100 Million Revolving Credit Facility \| Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Facility Amount	$ 100,000	$ 100,000
Carrying Value \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale	287,001	346,364
Carrying Value \| Significant Other Observable Inputs (Level 2) \| Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,166	1,090
Carrying Value \| Significant Other Observable Inputs (Level 2) \| Mortgage warehouse borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	249,898	306,072
Carrying Value \| Significant Other Observable Inputs (Level 2) \| Loans payable and other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	326,216	361,486
Carrying Value \| Significant Other Observable Inputs (Level 2) \| Senior Notes \| 5.625% Senior Notes due 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	349,641	349,372
Carrying Value \| Significant Other Observable Inputs (Level 2) \| Senior Notes \| 5.875% Senior Notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	496,937	496,541
Carrying Value \| Significant Other Observable Inputs (Level 2) \| Senior Notes \| 6.625% Senior Notes Due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	28,236	28,380
Carrying Value \| Significant Other Observable Inputs (Level 2) \| Senior Notes \| 5.75% Senior Notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	447,133	446,817
Carrying Value \| Significant Other Observable Inputs (Level 2) \| Senior Notes \| 5.125% Senior Notes due 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	495,510	495,193
Carrying Value \| Significant Unobservable Inputs (Level 3) \| IRLCs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		2,386
Derivative liabilities	(77)
Carrying Value \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Security Investment	460	460
Fair Value \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale	287,001	346,364
Fair Value \| Significant Other Observable Inputs (Level 2) \| Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,166	1,090
Fair Value \| Significant Other Observable Inputs (Level 2) \| Mortgage warehouse borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	249,898	306,072
Fair Value \| Significant Other Observable Inputs (Level 2) \| Loans payable and other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	326,216	361,486
Fair Value \| Significant Other Observable Inputs (Level 2) \| Senior Notes \| 5.625% Senior Notes due 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	347,375	347,375
Fair Value \| Significant Other Observable Inputs (Level 2) \| Senior Notes \| 5.875% Senior Notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	491,095	480,060
Fair Value \| Significant Other Observable Inputs (Level 2) \| Senior Notes \| 6.625% Senior Notes Due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	26,778	26,123
Fair Value \| Significant Other Observable Inputs (Level 2) \| Senior Notes \| 5.75% Senior Notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	435,119	421,358
Fair Value \| Significant Other Observable Inputs (Level 2) \| Senior Notes \| 5.125% Senior Notes due 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	461,745	434,330
Fair Value \| Significant Unobservable Inputs (Level 3) \| IRLCs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		2,386
Derivative liabilities	(77)
Fair Value \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Security Investment	$ 460	$ 460

FAIR VALUE DISCLOSURES - Summ_2

FAIR VALUE DISCLOSURES - Summary of Assets Measure on a Nonrecurring Basis (Detail) $ in Thousands	Dec. 31, 2022 USD ($)
Nonrecurring \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Inventories	$ 48,360

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
INCOME TAXES - Narrative (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax [Line Items]
Effective rate	25.60%	25.10%	24.50%	24.50%
Unrecognized tax benefits	$ 0		$ 0		$ 0

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details) - $ / shares	Aug. 16, 2022	Jun. 30, 2023
Equity [Abstract]
Common stock, shares authorized (in shares)		400,000,000
Common stock, par value (in dollars per share)		$ 0.00001
Preferred stock, shares authorized (in shares)		50,000,000
Preferred stock, par value (in dollars per share)		$ 0.00001
Percentage of execise tax on net repurchase of stock	1%

STOCKHOLDERS' EQUITY - Treasury

STOCKHOLDERS' EQUITY - Treasury Stock (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stock Repurchase Program, Increase (Decrease) [Roll Forward]
Amount available for repurchase - beginning of period	$ 275,570	$ 172,384	$ 279,138	$ 230,413
Amount cancelled from expired or unused authorizations	0	(75,000)	0	(75,000)
Additional amount authorized for repurchase	0	500,000	0	500,000
Amount repurchased	0	(172,384)	(3,568)	(230,413)
Amount available for repurchase — end of period	$ 275,570	$ 425,000	$ 275,570	$ 425,000
Repurchase of common stock (in shares)	0	6,779,498	109,325	8,727,685

STOCK BASED COMPENSATION - Narr

STOCK BASED COMPENSATION - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate unamortized outstanding stock based compensation	$ 38.4	$ 27.1
2013 Omnibus Equity Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate common stock available for future grants (in shares)	5,123,541

STOCK BASED COMPENSATION - Summ

STOCK BASED COMPENSATION - Summary of Restricted Stock Unit, Stock Options, and Stock Warrants Activity (Details)	Jun. 30, 2023 $ / shares shares
Restricted Stock Units and Performance-based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards other than options, balance (in shares) \| shares	1,489,690
Weighted Average Grant Date Fair Value
Stock awards other than options, outstanding, balance (in dollars per share) \| $ / shares	$ 30.2
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, balance (in shares) \| shares	2,429,418
Weighted Average Grant Date Fair Value
Stock Options, outstanding balance (in dollars per share) \| $ / shares	$ 26.5

STOCK BASED COMPENSATION - Su_2

STOCK BASED COMPENSATION - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation	$ 5,271	$ 5,278	$ 12,804	$ 12,141
Restricted Stock Units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation	4,212	4,137	10,887	9,918
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation	$ 1,059	$ 1,141	$ 1,917	$ 2,223

REPORTING SEGMENTS - Narrative

REPORTING SEGMENTS - Narrative (Details)	6 Months Ended
REPORTING SEGMENTS - Narrative (Details)	Jun. 30, 2023 Segment
Segment Reporting [Abstract]
Number of reporting segments included in operating component	3

REPORTING SEGMENTS - Reconcilia

REPORTING SEGMENTS - Reconciliation to Net Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	$ 2,060,564	$ 1,995,023	$ 3,722,421	$ 3,698,147
Gross margin	499,685	541,480	899,251	934,608
Selling, general and administrative expense	(183,683)	(165,542)	(342,704)	(322,807)
Net income/(loss) from unconsolidated entities	3,186	(3,637)	5,115	(1,806)
Interest and other (expense)/income, net	(3,429)	5,825	2,516	1,031
Gain on extinguishment of debt, net	0	13,471	0	13,471
Income before income taxes	315,759	391,597	564,178	624,497
Operating Segments \| East
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	740,064	635,862	1,350,877	1,160,983
Gross margin	203,165	174,535	368,872	300,226
Selling, general and administrative expense	(47,904)	(44,589)	(90,951)	(84,915)
Net income/(loss) from unconsolidated entities	0	0	0	0
Interest and other (expense)/income, net	(1,136)	10,110	(2,348)	9,678
Gain on extinguishment of debt, net		0		0
Income before income taxes	154,125	140,056	275,573	224,989
Operating Segments \| Central
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	623,207	457,512	1,088,219	828,247
Gross margin	160,485	117,356	271,798	191,364
Selling, general and administrative expense	(45,390)	(33,499)	(82,346)	(62,939)
Net income/(loss) from unconsolidated entities	100	(39)	19	46
Interest and other (expense)/income, net	(1,520)	(1,076)	(2,861)	(2,936)
Gain on extinguishment of debt, net		0		0
Income before income taxes	113,675	82,742	186,610	125,535
Operating Segments \| West
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	652,257	832,274	1,200,162	1,602,484
Gross margin	119,113	222,687	227,741	404,218
Selling, general and administrative expense	(47,101)	(42,374)	(87,585)	(85,893)
Net income/(loss) from unconsolidated entities	(173)	(5,793)	(408)	(6,105)
Interest and other (expense)/income, net	(3,007)	(3,703)	772	(5,669)
Gain on extinguishment of debt, net		0		0
Income before income taxes	68,832	170,817	140,520	306,551
Operating Segments \| Financial Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	41,914	35,471	77,063	70,670
Gross margin	16,572	13,988	29,573	24,973
Selling, general and administrative expense	(91)	0	(91)	0
Net income/(loss) from unconsolidated entities	3,259	2,195	5,534	4,253
Interest and other (expense)/income, net	0	0	0	0
Gain on extinguishment of debt, net		0		0
Income before income taxes	19,740	16,183	35,016	29,226
Corporate and Unallocated
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	3,122	33,904	6,100	35,763
Gross margin	350	12,914	1,267	13,827
Selling, general and administrative expense	(43,197)	(45,080)	(81,731)	(89,060)
Net income/(loss) from unconsolidated entities	0	0	(30)	0
Interest and other (expense)/income, net	2,234	494	6,953	(42)
Gain on extinguishment of debt, net		13,471		13,471
Income before income taxes	$ (40,613)	$ (18,201)	$ (73,541)	$ (61,804)

REPORTING SEGMENTS - Summary of

REPORTING SEGMENTS - Summary of Assets by Segment (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	$ 5,441,691	$ 5,634,232
Investments in unconsolidated entities	306,265	282,900
Other assets	3,000,833	2,553,592
Total assets	8,748,789	8,470,724
Operating Segments \| East
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	1,811,595	1,820,765
Investments in unconsolidated entities	49,359	46,629
Other assets	164,370	216,816
Total assets	2,025,324	2,084,210
Operating Segments \| Central
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	1,153,486	1,359,805
Investments in unconsolidated entities	114,867	104,070
Other assets	231,157	251,727
Total assets	1,499,510	1,715,602
Operating Segments \| West
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	2,476,610	2,453,662
Investments in unconsolidated entities	82,656	80,310
Other assets	600,774	613,029
Total assets	3,160,040	3,147,001
Operating Segments \| Financial Services
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	0	0
Investments in unconsolidated entities	5,283	5,283
Other assets	373,674	431,535
Total assets	378,957	436,818
Corporate and Unallocated
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	0	0
Investments in unconsolidated entities	54,100	46,608
Other assets	1,630,858	1,040,485
Total assets	$ 1,684,958	$ 1,087,093

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Nov. 02, 2021
Loss Contingencies [Line Items]
Outstanding letters of credit	$ 1,300,000		$ 1,300,000		$ 1,200,000
Purchase Price	2,370,727		2,370,727		2,442,389
Legal accruals	19,000		19,000		20,600
Lease liabilities	89,310		89,310		100,174
Operating lease expense	6,400	$ 6,700	13,500	$ 13,600
Land Option Purchase Contracts And Land Banking Arrangements
Loss Contingencies [Line Items]
Purchase Price	$ 1,400,000		$ 1,400,000		$ 1,500,000
Maximum
Loss Contingencies [Line Items]
Loss contingency						$ 35,000

MORTGAGE HEDGING ACTIVITIES (De

MORTGAGE HEDGING ACTIVITIES (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Fair Value	$ 1,089	$ 3,476
Total commitments to originate loans	307,400	419,600
IRLCs
Derivative [Line Items]
Fair Value		2,386
Fair Value	(77)
Notional amount	280,235	375,030
MBSs
Derivative [Line Items]
Fair Value	1,166	1,090
Notional amount	$ 478,887	$ 504,000