Taylor Morrison Home (TMHC) 10-Q23 Oct 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2024	Oct. 23, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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		103,477,894
Entity Central Index Key	0001562476
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 256,447,000	$ 798,568,000
Restricted cash	846,000	8,531,000
Total cash	257,293,000	807,099,000
Real estate inventory:
Owned inventory	6,265,280,000	5,473,828,000
Consolidated real estate not owned	175,245,000	71,618,000
Total real estate inventory	6,440,525,000	5,545,446,000
Land deposits	273,967,000	203,217,000
Mortgage loans held for sale	265,356,000	193,344,000
Lease right of use assets	69,083,000	75,203,000
Prepaid expenses and other assets, net	336,051,000	290,925,000
Other receivables, net	207,595,000	184,518,000
Investments in unconsolidated entities	397,061,000	346,192,000
Deferred tax assets, net	67,825,000	67,825,000
Property and equipment, net	322,483,000	295,121,000
Goodwill	663,197,000	663,197,000
Total assets	9,300,436,000	8,672,087,000
Liabilities
Accounts payable	269,300,000	263,481,000
Accrued expenses and other liabilities	577,501,000	549,074,000
Lease liabilities	79,426,000	84,999,000
Income taxes payable	5,528,000	0
Customer deposits	307,510,000	326,087,000
Estimated development liabilities	19,241,000	27,440,000
Senior notes, net	1,470,014,000	1,468,695,000
Loans payable and other borrowings	439,878,000	394,943,000
Revolving credit facility borrowings	0	0
Mortgage warehouse facilities borrowings	233,331,000	153,464,000
Liabilities attributable to consolidated real estate not owned	175,245,000	71,618,000
Total liabilities	3,576,974,000	3,339,801,000
COMMITMENTS AND CONTINGENCIES (Note 13)
Stockholders’ equity
Total stockholders’ equity	5,723,462,000	5,332,286,000
Total liabilities and stockholders’ equity	$ 9,300,436,000	$ 8,672,087,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Total revenue	$ 2,120,842	$ 1,675,545	$ 5,811,647	$ 5,397,966
Total cost of revenue	1,589,773	1,283,827	4,391,445	4,106,997
Gross margin	531,069	391,718	1,420,202	1,290,969
Sales, commissions and other marketing costs	117,714	98,797	334,270	304,591
General and administrative expenses	81,627	68,994	231,970	205,904
Net income from unconsolidated entities	(707)	(1,934)	(6,086)	(7,049)
Interest expense/(income), net	3,379	(5,782)	7,423	(12,013)
Other (income)/expense, net	(3,635)	2,968	3,837	6,683
Loss on extinguishment of debt, net	0	269	0	269
Income/(loss) before income taxes	332,691	228,406	848,788	792,584
Income tax provision	81,219	57,960	206,241	196,005
Net income before allocation to non-controlling interests	251,472	170,446	642,547	596,579
Net (income)/loss attributable to non-controlling interests	(346)	245	(1,691)	(235)
Net income	$ 251,126	$ 170,691	$ 640,856	$ 596,344
Earnings per common share:
Basic (in dollars per share)	$ 2.41	$ 1.57	$ 6.08	$ 5.48
Diluted (in dollars per share)	$ 2.37	$ 1.54	$ 5.97	$ 5.40
Weighted average number of shares of common stock:
Basic (in shares)	104,132	108,837	105,359	108,827
Diluted (in shares)	106,089	110,622	107,361	110,536
Home closings revenue, net
Total revenue	$ 2,029,134	$ 1,611,883	$ 5,585,516	$ 5,221,225
Total cost of revenue	1,525,825	1,238,999	4,231,740	3,980,749
Land closings revenue
Total revenue	27,820	14,291	48,279	31,439
Total cost of revenue	27,010	13,572	50,915	30,620
Financial services revenue
Total revenue	49,654	40,045	145,529	117,108
Total cost of revenue	27,304	23,128	80,553	70,618
Amenity and other revenue
Total revenue	14,234	9,326	32,323	28,194
Total cost of revenue	$ 9,634	$ 8,128	$ 28,237	$ 25,010

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 Interests
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
Balance, beginning of period (in shares) at Dec. 31, 2022						51,396,923
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		596,579						596,344		235
Exercise of stock options and issuance of restricted stock units, net	[1]	16,733			16,733
Exercise of stock options and issuance of restricted stock units, net (shares)	[1]		1,722,357
Repurchase of common stock		$ (103,568)				$ (103,568)
Repurchase of common stock (shares)		(2,278,982)	(2,278,982)			(2,278,982)
Stock compensation expense		$ 18,506			18,506
Changes in non-controlling interests of consolidated joint ventures		1								1
Balance, end of period at Sep. 30, 2023		5,175,110	$ 1		3,060,728	$ (1,240,706)		3,337,959	359	16,769
Balance, end of period (in shares) at Sep. 30, 2023			107,438,637
Balance, end of period (in shares) at Sep. 30, 2023						53,675,905
Balance, beginning 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 (in shares) at Jun. 30, 2023			109,443,784
Balance, beginning of period (in shares) at Jun. 30, 2023						51,506,248
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		170,446						170,691		(245)
Exercise of stock options and issuance of restricted stock units, net	[2]	3,649			3,649
Exercise of stock options and issuance of restricted stock units, net (shares)	[2]		164,510
Repurchase of common stock		$ (100,000)				$ (100,000)
Repurchase of common stock (shares)		(2,169,657)	(2,169,657)			(2,169,657)
Stock compensation expense		$ 5,702			5,702
Balance, end of period at Sep. 30, 2023		5,175,110	$ 1		3,060,728	$ (1,240,706)		3,337,959	359	16,769
Balance, end of period (in shares) at Sep. 30, 2023			107,438,637
Balance, end of period (in shares) at Sep. 30, 2023						53,675,905
Balance, beginning of period at Dec. 31, 2023		5,332,286	$ 1		3,068,597	$ (1,265,097)		3,510,544	896	17,345
Balance, beginning of period (in shares) at Dec. 31, 2023			106,917,636
Balance, beginning of period (in shares) at Dec. 31, 2023						54,211,879
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		642,547						640,856		1,691
Exercise of stock options and issuance of restricted stock units, net	[3]	(7,442)			(7,442)
Exercise of stock options and issuance of restricted stock units, net (shares)	[3]		791,084
Repurchase of common stock	[4]	$ (260,368)				$ (260,368)
Repurchase of common stock (shares)		(4,238,767)	(4,238,767)	[4]		(4,238,767)	[4]
Stock compensation expense		$ 17,016			17,016
Distributions to non-controlling interests of consolidated joint ventures		(577)								(577)
Balance, end of period at Sep. 30, 2024		5,723,462	$ 1		3,078,171	$ (1,525,465)		4,151,400	896	18,459
Balance, end of period (in shares) at Sep. 30, 2024			103,469,953
Balance, end of period (in shares) at Sep. 30, 2024						58,450,646
Balance, beginning of period at Jun. 30, 2024		5,526,542	$ 1		3,070,721	$ (1,463,616)		3,900,274	896	18,266
Balance, beginning of period (in shares) at Jun. 30, 2024			104,425,808
Balance, beginning of period (in shares) at Jun. 30, 2024						57,407,167
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		251,472						251,126		346
Exercise of stock options and issuance of restricted stock units, net	[5]	1,989			1,989
Exercise of stock options and issuance of restricted stock units, net (shares)	[5]		87,624
Repurchase of common stock	[6]	$ (61,849)				$ (61,849)
Repurchase of common stock (shares)		(1,043,479)	(1,043,479)	[6]		(1,043,479)	[6]
Stock compensation expense		$ 5,461			5,461
Distributions to non-controlling interests of consolidated joint ventures		(153)								(153)
Balance, end of period at Sep. 30, 2024		$ 5,723,462	$ 1		$ 3,078,171	$ (1,525,465)		$ 4,151,400	$ 896	$ 18,459
Balance, end of period (in shares) at Sep. 30, 2024			103,469,953
Balance, end of period (in shares) at Sep. 30, 2024						58,450,646

[1] Dollar amount includes $26.1 million of stock options exercised netted with the value of shares withheld for taxes on the issuance of restricted stock units. Dollar amount includes $3.7 million of stock options exercised netted with the value of shares withheld for taxes on the issuance of restricted stock units. Dollar amount includes $150.0 million of Accelerated Share Repurchases and an incremental amount related to the 1% excise tax on share repurchases. Dollar amount includes $50.0 million of Accelerated Share Repurchases and an incremental amount related to the 1% excise tax on share repurchases.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Stock options exercised	$ 2	$ 3.7	$ 7.5	$ 26.1
Stock repurchased	$ 50		$ 150

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash Flows from Operating Activities
Net income before allocation to non-controlling interests	$ 642,547	$ 596,579
Adjustments to reconcile net income to net cash (used in)/provided by operating activities:
Net income from unconsolidated entities	(6,086)	(7,049)
Stock compensation expense	17,016	18,506
Loss on extinguishment of debt, net	0	269
Distributions of earnings from unconsolidated entities	11,265	7,377
Depreciation and amortization	31,494	23,717
Operating lease expense	16,089	19,271
Debt issuance costs amortization	2,223	2,574
Estimated development liabilities change in estimate	(8,175)	0
Inventory impairments	2,325	11,791
Land held for sale write-down	6,782	0
Changes in operating assets and liabilities:
Real estate inventory and land deposits	(871,310)	(87,776)
Mortgage loans held for sale, prepaid expenses and other assets	(183,674)	24,081
Customer deposits	(18,577)	(31,548)
Accounts payable, accrued expenses and other liabilities	124,383	(27,231)
Income taxes payable	5,528	0
Net cash (used in)/provided by operating activities	(228,170)	550,561
Cash Flows from Investing Activities:
Purchase of property and equipment	(26,270)	(47,042)
Distributions of capital from unconsolidated entities	18,599	733
Investments of capital into unconsolidated entities	(74,647)	(47,795)
Net cash used in investing activities	(82,318)	(94,104)
Cash Flows from Financing Activities
Increase in loans payable and other borrowings	0	2,426
Repayments on loans payable and other borrowings	(52,093)	(18,367)
Borrowings on revolving credit facility	100,000	0
Repayments on revolving credit facility	(100,000)	0
Borrowings on mortgage warehouse facilities	2,588,250	2,203,261
Repayments on mortgage warehouse facilities	(2,508,383)	(2,317,688)
Repayments on senior notes	0	(350,000)
Changes in stock option exercises and issuance of restricted stock units, net	(7,442)	16,733
Payment of principal portion of finance lease	(1,382)	(1,313)
Repurchase of common stock, net	(257,691)	(103,568)
Cash and distributions to non-controlling interests of consolidated joint ventures	(577)	0
Net cash used in financing activities	(239,318)	(568,516)
Net Decrease in Cash and Cash Equivalents and Restricted Cash	(549,806)	(112,059)
Cash, Cash Equivalents, and Restricted Cash — Beginning of period	807,099	726,635
Cash, Cash Equivalents, and Restricted Cash — End of period	257,293	614,576
Supplemental Cash Flow Information
Income tax paid, net	(188,723)	(154,267)
Supplemental Non-Cash Investing and Financing Activities:
Change in loans payable issued to sellers in connection with land purchase contracts	212,527	126,903
Change in inventory not owned	103,627	(23,548)
Accrual of excise tax on share repurchases	$ (2,678)	$ 0

BUSINESS

BUSINESS	9 Months Ended
BUSINESS	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESS Description of the Business

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	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, 2023 (the “Annual Report”). 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/loss from the percentage of the joint venture not owned by us is presented as “Net (income)/loss 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 and 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 accompanying notes. Significant estimates include real estate development costs to complete, valuation of real estate, valuation of goodwill, valuation of estimated 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 generally using the relative sales value method. Generally, all overhead costs relating to purchasing, vertical construction, 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 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 ("Topic 360"). 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 projections and estimates may lead to a change in the outcome of our impairment analysis, and actual results may also differ from our assumptions. For the three months ended September 30, 2024, there was no inventory impairment recorded. For the nine months ended September 30, 2024, we recorded $2.3 million of inventory impairment relating to one of our communities in our East reporting segment. For the three and nine months ended September 30, 2023, we recorded $11.8 million of impairment charges relating to one of our communities in our West reporting segment. Inventory impairments are recorded to Cost of home closings on the unaudited Condensed consolidated statements of operations. 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 September 30, 2024 and December 31, 2023, we had no long-term strategic assets. 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 immediate use of funds from our available cash or other financing sources, we 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. We incur interest expense on these arrangements. Interest is based on remaining lots to be purchased and is capitalized for the percentage of lots in each project actively under development, with the remainder expensed and included in Interest expense/(income), net on the unaudited Condensed consolidated statements of operations. The entities grant us an option to acquire lots in staged takedowns. In consideration for this option, we make a non-significant and non-refundable cash deposit. We are not legally obligated to purchase 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. As such, these entities are not consolidated. 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. As of September 30, 2024 and December 31, 2023, we had the right to purchase 5,822 lots and 5,818 lots under such land agreements for an aggregate purchase price of $968.4 million and $822.1 million, respectively. We are not legally obligated to purchase the balance of the lots. As of September 30, 2024 and December 31, 2023, our exposure to loss related to deposits on land banking arrangements totaled $127.4 million and $129.2 million, respectively. We believe there are other land bank providers that could be substituted should our existing providers become unavailable or non-competitive with respect to land banking of future land. Therefore, we do not believe that the loss of our relationship with our current land bank providers would have a material adverse effect on our business, financial condition, or cash flows. Assets Held for Sale Real estate and inventory assets are considered held for sale once it is determined all criteria in accordance with Topic 360 have been met. The criteria includes the following considerations: (i) whether the company is committed to a plan to sell, (ii) whether the asset is available for immediate sale in the asset's present condition, (iii) whether an active program to locate a buyer and other actions required to complete the plan to sell have been initiated, (iv) whether the sale of the asset is probable (i.e., likely to occur) and the transfer is expected to qualify for recognition as a completed sale within one year, (v) whether the long-lived asset or disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value, and (vi) whether actions necessary to complete the plan indicate that it is unlikely significant changes to the plan will be made and that the plan will be withdrawn. Real estate and inventory assets held for sale are reported at the lower of carrying value or estimated fair value, less estimated costs to sell. The estimated fair value is generally based on a sales listing agreement, purchase and sales agreement, letter of intent, broker price opinion, recent offers received, prices for assets in recent comparable sales transactions, or other third-party estimate. Impairment loss on real estate or inventory assets held for sale is recognized when the carrying value is greater than the fair value less estimated costs to sell, which is based on the estimated sales price of the property. In the event an asset classified as held for sale no longer meets the criteria for held for sale classification the asset is reclassified as held for use at the lower of the fair value or the depreciated basis as if the asset had continued to be used. Inventory Assets 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. For the three months ended September 30, 2024, we did not record any fair value adjustments for land held for sale. For the nine months ended September 30, 2024, we recorded $6.8 million of fair value adjustments for land held for sale in our West reporting segment. For the three and nine months ended September 30, 2023, we had no such charges. Adjustments for land held for sale are recorded within Cost of land closings on the unaudited Condensed consolidated statements of operations. Real Estate Assets Held for Sale - During the three months ended September 30, 2024, we entered into an exclusive listing agreement for one Build-To-Rent asset in Texas and one Build-To-Rent asset in Arizona. As of September 30, 2024, we determined these two Build-To-Rent assets, which are in our Corporate and Unallocated operating and reporting segment, to be classified as held for sale based on the criteria above. We expect both sales to occur during the fourth quarter of 2024. The carrying amounts for these Build-To-Rent assets are $38.6 million and $41.6 million, respectively and are included in property and equipment, net on the unaudited Condensed consolidated balance sheets. As the fair value is greater than the carrying value for each asset, no adjustment to fair value was recorded. There were no assets classified as held for sale as of December 31, 2023. 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 from unconsolidated entities on the unaudited Condensed consolidated statements 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 no impairment charges related to the investments in unconsolidated entities for the three and nine months ended September 30, 2024 and 2023. Treasury Stock — We account for treasury stock, including the shares repurchased as part of our Accelerated Share Repurchase ("ASR") programs, in accordance with ASC Topic 505-30, Equity—Treasury Stock. Repurchased shares are reflected as a reduction in stockholders' equity. Refer to Note 10 - Stockholders' Equity for additional discussion regarding ASR programs. 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 home and land closings 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, pursuant to which we 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 operations 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, based on the difference between the selling price and carrying value of the related loans upon sale, recording a gain/loss on sale in the period of sale. Also included in Financial services revenue/expenses is the 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 unaudited Condensed consolidated statements of operations in the period in which they occur. Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which is intended to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 requires all public entities to report segment information in accordance with Topic 280. The guidance will be effective for the annual reporting period ending December 31, 2024 but entities may early adopt. We do not believe the adoption of ASU 2023-07 will have a material impact on our consolidated financial statements and disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures , which establishes new income tax disclosure requirements. Under the new guidance, entities must consistently categorize and provide greater disaggregation of information in the rate reconciliation and income taxes paid by jurisdiction. This ASU can be applied prospectively or retrospectively and is effective for the annual reporting period beginning January 1, 2025. We are currently evaluating ASU 2023-09 and do not expect it to have a material effect on our consolidated financial statements and disclosures.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
EARNINGS PER SHARE	Sep. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	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 Nine Months Ended 2024 2023 2024 2023 Numerator: Net income $ 251,126 $ 170,691 $ 640,856 $ 596,344 Denominator: Weighted average shares – basic 104,132 108,837 105,359 108,827 Restricted stock units 877 940 970 895 Stock Options 1,080 845 1,032 814 Weighted average shares – diluted 106,089 110,622 107,361 110,536 Earnings per common share – basic: Net income $ 2.41 $ 1.57 $ 6.08 $ 5.48 Earnings per common share – diluted: Net income $ 2.37 $ 1.54 $ 5.97 $ 5.40 The above calculations of weighted average shares exclude 128,700 and 113,664 of anti-dilutive stock options and unvested performance and non-performance restricted stock units ("RSUs") for the three and nine months ended September 30, 2024, respectively, and 353,947 and 282,124 of anti-dilutive stock options and RSUs for the three and nine months ended September 30, 2023, respectively. In addition, 145,201 shares relating to our ASR (refer to Note 10 - Stockholders' Equity) were also anti-dilutive and excluded from the above for the three and nine months ended September 30, 2024, respectively. There were no ASR transactions in 2023.

REAL ESTATE INVENTORY

REAL ESTATE INVENTORY	9 Months Ended
REAL ESTATE INVENTORY	Sep. 30, 2024
Real Estate [Abstract]
REAL ESTATE INVENTORY	REAL ESTATE INVENTORY Inventory consists of the following: As of (Dollars in thousands) September 30, December 31, Real estate developed and under development $ 4,342,785 $ 3,855,534 Real estate held for development or held for sale (1) 49,753 29,317 Total land inventory 4,392,538 3,884,851 Operating communities (2) 1,705,198 1,414,528 Capitalized interest 167,544 174,449 Total owned inventory 6,265,280 5,473,828 Consolidated real estate not owned 175,245 71,618 Total real estate inventory $ 6,440,525 $ 5,545,446 (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. 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. A summary of owned and controlled lots is as follows: As of September 30, December 31, 2023 Owned lots: Undeveloped 13,726 13,418 Under development 9,971 8,848 Finished 11,239 11,811 Total owned lots 34,936 34,077 Controlled lots: Land option purchase contracts 10,028 8,621 Land banking arrangements 5,822 5,818 Other controlled lots (1) 32,793 23,846 Total controlled lots 48,643 38,285 Total owned and controlled lots 83,579 72,362 Homes in inventory 8,490 7,867 (1) Other controlled lots include single transaction take-downs and lots from our portion of unconsolidated JVs. Lots which represent homes in progress and completed homes have been excluded from total owned lots. Controlled lots represent lots in which we have a contractual right to acquire real property, generally through an option contract, land banking arrangement, or a land deposit paid to a seller. Homes in inventory include any lots which have commenced vertical construction. Capitalized Interest — Interest capitalized, incurred and amortized is as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Interest capitalized - beginning of period $ 172,263 $ 191,304 $ 174,449 $ 190,123 Interest incurred and capitalized (1) 25,345 28,270 75,087 94,452 Interest amortized to cost of home closings (30,064) (32,377) (81,992) (97,378) Interest capitalized - end of period $ 167,544 $ 187,197 $ 167,544 $ 187,197 (1) Excludes Interest expense/(income), net on the unaudited Condensed consolidated statements of operations as such amounts are not capitalizable.

INVESTMENTS IN CONSOLIDATED AND

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES	9 Months Ended
INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES	INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES Unconsolidated Entities Summarized, unaudited condensed combined financial information of unconsolidated entities that are accounted for by the equity method are as follows (in thousands): As of September 30, December 31, Assets: Real estate inventory $ 1,232,415 $ 952,223 Other assets 198,446 182,517 Total assets $ 1,430,861 $ 1,134,740 Liabilities and owners’ equity: Debt $ 469,811 $ 317,224 Other liabilities 72,963 50,739 Total liabilities $ 542,774 $ 367,963 Owners’ equity: TMHC $ 397,061 $ 346,192 Others 491,026 420,585 Total owners’ equity $ 888,087 $ 766,777 Total liabilities and owners’ equity $ 1,430,861 $ 1,134,740 Three Months Ended Nine Months Ended 2024 2023 2024 2023 Revenues $ 65,075 $ 44,010 $ 228,227 $ 95,647 Costs and expenses (63,094) (37,810) (212,450) (76,575) Net income $ 1,981 $ 6,200 $ 15,777 $ 19,072 TMHC’s share in net income of unconsolidated entities $ 707 $ 1,934 $ 6,086 $ 7,049 Distributions to TMHC from unconsolidated entities $ 14,837 $ 2,226 $ 29,864 $ 8,110 Consolidated Entities

ACCRUED EXPENSES AND OTHER LIAB

ACCRUED EXPENSES AND OTHER LIABILITIES	9 Months Ended
ACCRUED EXPENSES AND OTHER LIABILITIES	Sep. 30, 2024
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER LIABILITIES	ACCRUED EXPENSES AND OTHER LIABILITIES Accrued expenses and other liabilities consist of the following (in thousands): As of September 30, 2024 December 31, 2023 Real estate development costs to complete $ 42,611 $ 46,114 Compensation and employee benefits 145,485 149,095 Self-insurance and warranty reserves 193,313 184,448 Interest payable 26,983 31,042 Property and sales taxes payable 45,476 30,887 Other accruals 123,633 107,488 Total accrued expenses and other liabilities $ 577,501 $ 549,074 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 Nine Months Ended 2024 2023 (1) 2024 2023 (1) Reserve - beginning of period $ 181,790 $ 160,326 $ 184,448 $ 161,675 Additions to reserves 20,971 16,385 63,161 55,720 Cost of claims incurred (18,423) (18,795) (68,329) (62,622) Changes in estimates to pre-existing reserves 8,975 12,320 14,033 15,463 Reserve - end of period $ 193,313 $ 170,236 $ 193,313 $ 170,236 (1) Includes amount reclassified from Additions to reserves to Changes in estimates to pre-existing reserves. Due to the degree of judgment required in making these estimates and the inherent uncertainty in potential outcomes, it is reasonably possible that actual costs could differ from those reserved and such differences could be material, resulting in a change in future estimated reserves.

DEBT

DEBT	9 Months Ended
DEBT	Sep. 30, 2024
Debt Disclosure [Abstract]
DEBT	DEBT Total debt consists of the following (in thousands): As of September 30, 2024 December 31, 2023 Principal Unamortized Carrying Principal Unamortized Carrying 5.875% Senior Notes due 2027 500,000 (2,085) 497,915 500,000 (2,672) 497,328 6.625% Senior Notes due 2027 (1) 27,070 805 27,875 27,070 1,022 28,092 5.75% Senior Notes due 2028 450,000 (2,078) 447,922 450,000 (2,551) 447,449 5.125% Senior Notes due 2030 500,000 (3,698) 496,302 500,000 (4,174) 495,826 Senior Notes subtotal $ 1,477,070 $ (7,056) $ 1,470,014 $ 1,477,070 $ (8,375) $ 1,468,695 Loans payable and other borrowings 439,878 — 439,878 394,943 — 394,943 $1 Billion Revolving Credit Facility (2) — — — — — — Mortgage warehouse facilities borrowings 233,331 — 233,331 153,464 — 153,464 Total debt $ 2,150,279 $ (7,056) $ 2,143,223 $ 2,025,477 $ (8,375) $ 2,017,102 (1) Unamortized debt issuance premium 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 unaudited Condensed consolidated balance sheets. 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, 2023. For information regarding such instruments, refer to Note 8 - Debt to the Consolidated Financial Statements in our Annual Report. As of September 30, 2024, 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. During the three months ended September 30, 2024, we borrowed and repaid $100.0 million under our $1 Billion Revolving Credit Facility. We had no outstanding borrowings under our $1 Billion Revolving Credit Facility as of September 30, 2024 and December 31, 2023. As of September 30, 2024 and December 31, 2023, we had $2.2 million and $2.9 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 September 30, 2024 and December 31, 2023, we had $54.2 million and $61.2 million, respectively, of utilized letters of credit, resulting in $945.8 million and $938.8 million, respectively, of availability under the $1 Billion Revolving Credit Facility. As of September 30, 2024, we were in compliance with all of the covenants under the $1 Billion Revolving Credit Facility. $100 million Revolving Credit Facility Our $100 million Revolving Credit Facility matured on its maturity date of September 17, 2024 and was not renewed. Mortgage Warehouse Borrowings The following is a summary of our mortgage warehouse facilities borrowings (in thousands): As of September 30, 2024 Facility Amount Facility Interest Rate (1) Expiration Collateral (2) Warehouse A $ 37,036 $ 60,000 Term SOFR + 1.70% on Demand Mortgage Loans Warehouse C 64,906 100,000 Term SOFR + 1.50% on Demand Mortgage Loans Warehouse D 63,359 100,000 Daily SOFR + 1.50% September 3, 2025 Mortgage Loans Warehouse E 68,030 100,000 Term SOFR + 1.60% on Demand Mortgage Loans Total $ 233,331 $ 360,000 As of December 31, 2023 Facility Amount Facility Interest Rate (1) Expiration Collateral (2) Warehouse A $ 13,477 $ 60,000 Term SOFR + 1.70% on Demand Mortgage Loans Warehouse C 25,567 100,000 Term SOFR + 1.65% on Demand Mortgage Loans Warehouse D 56,745 100,000 Daily SOFR + 1.50% September 4, 2024 Mortgage Loans Warehouse E 57,675 100,000 Term SOFR + 1.60% on Demand Mortgage Loans Total $ 153,464 $ 360,000 (1) Secured Overnight Financing Rate ("SOFR") (2) The mortgage warehouse facilities borrowings outstanding as of September 30, 2024 and December 31, 2023 were collateralized by $265.4 million and $193.3 million, respectively, of mortgage loans held for sale. Loans Payable and Other Borrowings Loans payable and other borrowings as of September 30, 2024 and December 31, 2023 consist of project-level debt due to various land sellers and financial institutions for specific communities. 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 11% and 0% to 9% at September 30, 2024 and December 31, 2023, respectively. We impute interest for loans with no stated interest rates.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
FAIR VALUE DISCLOSURES	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	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 facilities borrowings, and loans payable and other borrowings 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. There were no changes to or transfers between the levels of the fair value hierarchy for any of our financial instruments as of September 30, 2024, when compared to December 31, 2023. The carrying value and fair value of our financial instruments are as follows: September 30, 2024 December 31, 2023 (Dollars in thousands) Level in Fair Carrying Estimated Carrying Estimated Description: Mortgage loans held for sale 2 $ 265,356 $ 265,356 $ 193,344 $ 193,344 IRLCs 3 (3,517) (3,517) 1,489 1,489 MBSs 2 542 542 (5,055) (5,055) Mortgage warehouse facilities borrowings 2 233,331 233,331 153,464 153,464 Loans payable and other borrowings 2 439,878 439,878 394,943 394,943 5.875% Senior Notes due 2027 (1) 2 497,915 510,025 497,328 502,500 6.625% Senior Notes due 2027 (1) 2 27,875 27,128 28,092 26,529 5.75% Senior Notes due 2028 (1) 2 447,922 458,163 447,449 451,571 5.125% Senior Notes due 2030 (1) 2 496,302 497,670 495,826 483,690 (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 June 30, 2024 As of September 30, 2023 (1) Description: Real estate inventory 3 $ 7,024 $ 19,263 (1) As of December 31, 2023 there was no additional impairment; therefore, the fair value information presented is as of September 30, 2023. As of September 30, 2024, 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	9 Months Ended
INCOME TAXES	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective tax rate for the three and nine months ended September 30, 2024 was 24.4% and 24.3%, respectively, compared to 25.4% and 24.7% for the same periods in 2023. For the three months ended September 30, 2024, the effective tax rate differed from the U.S. federal statutory income tax rate primarily due to state income taxes, credits related to homebuilding activities, non-deductible executive compensation, and excess tax benefits from share-based compensation. There were no unrecognized tax benefits as of September 30, 2024 or December 31, 2023.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
STOCKHOLDERS' EQUITY	Sep. 30, 2024
Equity [Abstract]
STOCKHOLDERS' EQUITY	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 On December 15, 2023 the Board of Directors authorized a renewal of the Company's then-existing stock repurchase program which permits the repurchase up to $500 million of the Company’s common stock through December 31, 2025. Repurchases under the program may occur from time to time through open market purchases, privately negotiated transactions or other transactions. On October 23, 2024, the Board of Directors authorized a renewal of the Company’s stock repurchase program through December 31, 2026, which authorization replaced the Company’s prior $500 million repurchase authorization scheduled to expire on December 31, 2025. The stock repurchase program, as renewed, permits the repurchase of up to $1 billion of the Company’s Common Stock from October 23, 2024 through December 31, 2026. Using the availability under our stock repurchase program, we entered into three separate ASR agreements with the same financial institution during the nine months ended September 30, 2024. We paid $50.0 million for each agreement and received an initial delivery of 80% of common stock shares, with the remaining 20% received (or to be received) at final settlement in accordance with the terms of each ASR agreement. The final settlements for the first and second ASR agreements occurred during the third quarter of 2024, at which time, the volume-weighted average price calculations over the term of the ASR agreement were used to determine the final number of shares to be delivered. Final settlement of the third ASR agreement is expected to occur during the fourth quarter of 2024 consistent with the terms of the first and second ASR agreements. We accounted for the ASRs as common stock repurchases and forward contracts indexed to our own common stock. We determined that the equity classification criteria was met for the forward contracts; therefore, they were not accounted for as derivative instruments. The following table summarizes share repurchase activity for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, (Number of Shares) 2024 2023 2024 2023 March 5, 2024 ASR Agreement 165,467 — 870,810 — June 7, 2024 ASR Agreement 88,444 — 808,905 — September 12, 2024 ASR Agreement 580,804 — 580,804 — Number of shares repurchased with ASR 834,715 — 2,260,519 — Other share repurchases (1) 208,764 2,169,657 1,978,248 2,278,982 Total share repurchases - end of period 1,043,479 2,169,657 4,238,767 2,278,982 (1) Amount represents shares repurchased under our existing share repurchase program which are not part of ASRs. The following table summarizes our spend on share repurchases for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Amount available for repurchase — beginning of period $ 298,095 $ 275,570 $ 494,489 $ 279,138 Amount repurchased (1) (61,297) (100,000) (257,691) (103,568) Amount available for repurchase — end of period $ 236,798 $ 175,570 $ 236,798 $ 175,570 (1) 2024 amounts include the amount paid for our ASR programs.

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	9 Months Ended
STOCK BASED COMPENSATION	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
STOCK BASED COMPENSATION	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 September 30, 2024, we had an aggregate of 4,874,559 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 September 30, 2024: RSUs and PRSUs Stock Options Number of Units Weighted Average Number of Options Weighted Balance at September 30, 2024 1,338,592 $ 38.15 2,088,092 $ 28.67 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 Nine Months Ended 2024 2023 2024 2023 Restricted stock units (1) $ 4,390 $ 4,615 $ 13,834 $ 15,502 Stock options 1,071 1,087 3,182 3,004 Total stock compensation expense $ 5,461 $ 5,702 $ 17,016 $ 18,506 (1) Includes compensation expense related to time-based RSUs and PRSUs.

OPERATING AND REPORTING SEGMENT

OPERATING AND REPORTING SEGMENTS	9 Months Ended
OPERATING AND REPORTING SEGMENTS	Sep. 30, 2024
Segment Reporting [Abstract]
OPERATING AND REPORTING SEGMENTS	OPERATING AND 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. Our reporting segments are as follows: East Atlanta, Charlotte, Jacksonville, Naples, Orlando, Raleigh, Sarasota, and Tampa Central Austin, Dallas, Denver, Houston, and Indianapolis 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 Operating results for each segment may not be indicative of the results for such segment had it been an independent, stand-alone entity. Segment information is as follows (in thousands): Three Months Ended September 30, 2024 East Central West Financial Corporate and Unallocated (1) Total Total revenue $ 766,821 $ 517,418 $ 781,626 $ 49,654 $ 5,323 $ 2,120,842 Gross margin 209,650 127,647 169,652 22,350 1,770 531,069 Selling (2) , general and administrative expenses (56,260) (45,188) (48,315) — (49,578) (199,341) Net income/(loss) from unconsolidated entities — 38 (4) 1,337 (664) 707 Interest and other income/(expense), net (3) 6,092 (2,436) (2,323) 438 (1,515) 256 Income/(loss) before income taxes $ 159,482 $ 80,061 $ 119,010 $ 24,125 $ (49,987) $ 332,691 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Includes sales, commissions and other marketing costs. (3) Interest and other income/(expense), net includes pre-acquisition write-offs on terminated projects. In addition, the East reporting segment includes the estimated development liabilities change in estimate for the three months ended September 30, 2024. Three Months Ended September 30, 2023 East Central West Financial Services Corporate and Unallocated (1) Total Total revenue $ 582,557 $ 433,610 $ 615,817 $ 40,045 $ 3,516 $ 1,675,545 Gross margin 158,096 109,481 106,103 16,917 1,121 391,718 Selling (2) , general and administrative expenses (42,957) (37,712) (45,442) 91 (41,771) (167,791) Net (loss)/income from unconsolidated entities — (81) 341 1,671 3 1,934 Interest and other (expense)/income, net (3) (425) (2,380) (2,929) — 8,548 2,814 Loss on extinguishment of debt, net — — — — (269) (269) Income/(loss) before income taxes $ 114,714 $ 69,308 $ 58,073 $ 18,679 $ (32,368) $ 228,406 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Includes sales, commissions and other marketing costs. (3) Interest and other (expense)/income, net includes pre-acquisition write-offs on terminated projects. Nine Months Ended September 30, 2024 East Central West Financial Corporate and Unallocated (1) Total Total revenue $ 2,008,762 $ 1,489,313 $ 2,153,531 $ 145,529 $ 14,512 $ 5,811,647 Gross margin 533,690 374,506 442,650 64,976 4,380 1,420,202 Selling (2) , general and administrative expenses (155,523) (124,546) (141,130) — (145,041) (566,240) Net (loss)/income from unconsolidated entities — (31) 49 7,235 (1,167) 6,086 Interest and other income/(expense), net (3) 4,705 (7,712) (8,950) 1,772 (1,075) (11,260) Income/(loss) before income taxes $ 382,872 $ 242,217 $ 292,619 $ 73,983 $ (142,903) $ 848,788 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Includes sales, commissions and other marketing costs. (3) Interest and other income/(expense), net includes pre-acquisition write-offs on terminated projects. In addition, the East reporting segment includes the estimated development liabilities change in estimate for the nine months ended September 30, 2024. Nine Months Ended September 30, 2023 East Central West Financial Corporate and Unallocated (1) Total Total revenue $ 1,933,434 $ 1,521,829 $ 1,815,980 $ 117,108 $ 9,615 $ 5,397,966 Gross margin 526,968 381,279 333,843 46,490 2,389 1,290,969 Selling (2) , general and administrative expenses (133,908) (120,058) (133,027) — (123,502) (510,495) Net (loss)/income from unconsolidated entities — (63) (67) 7,205 (26) 7,049 Interest and other (expense)/income, net (3) (2,773) (5,241) (2,157) — 15,501 5,330 Loss on extinguishment of debt, net — — — — (269) (269) Income/(loss) before income taxes $ 390,287 $ 255,917 $ 198,592 $ 53,695 $ (105,907) $ 792,584 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Includes sales, commissions and other marketing costs. (3) Interest and other (expense)/income, net includes pre-acquisition write-offs on terminated projects. As of September 30, 2024 East Central West Financial Services Corporate and Unallocated (1) Total Real estate inventory and land deposits $ 2,379,080 $ 1,315,754 $ 3,019,658 $ — $ — $ 6,714,492 Investments in unconsolidated entities 81,378 133,182 94,932 5,483 82,086 397,061 Other assets 156,550 220,638 617,623 344,899 849,173 2,188,883 Total assets $ 2,617,008 $ 1,669,574 $ 3,732,213 $ 350,382 $ 931,259 $ 9,300,436 (1) Includes the assets from our Build-To-Rent and Urban Form operations. As of December 31, 2023 East Central West Financial Corporate and Unallocated (1) Total Real estate inventory and land deposits $ 1,909,084 $ 1,181,014 $ 2,658,565 $ — $ — $ 5,748,663 Investments in unconsolidated entities 63,628 125,610 88,219 5,483 63,252 346,192 Other assets 177,739 214,685 616,210 298,451 1,270,147 2,577,232 Total assets $ 2,150,451 $ 1,521,309 $ 3,362,994 $ 303,934 $ 1,333,399 $ 8,672,087 (1) Includes the assets from our Build-To-Rent and Urban Form operations.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	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 $1.4 billion and $1.3 billion as of September 30, 2024 and December 31, 2023, respectively. 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 September 30, 2024 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. The aggregate purchase price for land under these contracts was $1.8 billion at September 30, 2024 and $1.5 billion at December 31, 2023, 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 September 30, 2024 and December 31, 2023, our legal accruals were $37.6 million and $26.2 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 accrued liabilities 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) ("Avatar"), 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 "Solivita litigation"). The class action complaint sought an injunction to prohibit future collection of club membership fees. On November 2, 2021, the 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 (the "District Court") on November 29, 2021, and the plaintiffs agreed to continue to pay club membership fees pending the outcome of the appeal. 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, and we filed a notice to invoke the discretionary review of the Florida Supreme Court. On November 2, 2023, the Florida Supreme Court declined to exercise jurisdiction. Following the Florida Supreme Court’s decision, we paid $64.7 million to the plaintiffs during the three months ended December 31, 2023, which included the amount of the trial court’s judgment, club membership fees received during the pendency of our appeal, pre-judgment interest and post-judgment interest. We have recorded an accrual for our estimated liability with respect to the plaintiff’s legal fees and costs for this matter, which is reflected in our legal accruals as of September 30, 2024 and is not material to our condensed consolidated financial statements. Plaintiffs have also asserted claims for additional pre-judgment interest, for which we believe we have substantial defenses. Hearings on the plaintiffs' claims for additional pre-judgment interest and legal fees were held on July 2, 2024 and July 29, 2024, respectively, and remain under the court's consideration. After reviewing our amenity arrangements in our Florida communities to determine whether such arrangements might subject the Company to liability in light of the outcome of the Solivita litigation described above, we identified one additional community with similar claims. On August 13, 2020, Slade Chelbian, a resident of our Bellalago community in Kissimmee, Florida, filed a purported class action suit against Avatar, AV Homes, Inc. and Taylor Morrison Home Corporation in the Circuit Court of the Ninth Circuit in and for Osceola County, Florida, generally alleging that Avatar cannot earn profits from community members for use of club amenities where membership in the club is mandatory for all residents and failure to pay club membership fees could result in the foreclosure of their homes by Avatar. On February 25, 2022, the court stayed the action pending the resolution of the Solivita litigation. Following the resolution of the Solivita appeal, the court held a case management conference to create timelines for the case. The parties have reached a tentative agreement regarding class certification, which will require approval of the court. While the ultimate outcome and the costs associated with litigation are inherently uncertain and difficult to predict, we have recorded an accrual for our estimated liability for this matter, which is reflected in our legal accruals as of September 30, 2024. 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

MORTGAGE HEDGING ACTIVITIES

MORTGAGE HEDGING ACTIVITIES	9 Months Ended
MORTGAGE HEDGING ACTIVITIES	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
MORTGAGE HEDGING ACTIVITIES	MORTGAGE HEDGING ACTIVITIES The following summarizes derivative instrument assets/(liabilities) as of the periods presented: As of September 30, 2024 December 31, 2023 (Dollars in thousands) Fair Value Notional Amount (1) Fair Value Notional Amount (1) IRLCs $ (3,517) $ 299,712 $ 1,489 $ 219,129 MBSs 542 702,000 (5,055) 285,000 Total $ (2,975) $ (3,566) (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 $319.5 million and $242.6 million as of September 30, 2024 and December 31, 2023, 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.

ESTIMATED DEVELOPMENT LIABILITI

ESTIMATED DEVELOPMENT LIABILITIES	9 Months Ended
ESTIMATED DEVELOPMENT LIABILITIES	Sep. 30, 2024
Real Estate [Abstract]
ESTIMATED DEVELOPMENT LIABILITIES	ESTIMATED DEVELOPMENT LIABILITIES Estimated development liabilities consist primarily of estimated future utilities improvements in Poinciana, Florida and Rio Rico, Arizona for home sites previously sold, in most cases prior to 1980. Such development liabilities were assumed through our acquisition of AV Homes and initially incurred by affiliates of AV Homes in connection with class action settlement agreements entered into by such affiliates in 1974 (the “1974 Judgment”), which required such entities to install certain water and electric infrastructure at such home sites upon satisfaction of certain conditions. Estimated development liabilities are reduced by actual expenditures and are evaluated and adjusted, as appropriate, to reflect management’s estimate of potential completion costs. In the third quarter of 2024, we changed our estimate for the liability related to the Poinciana home sites because of a change in installation policy, to perform infrastructure work for only lot owners that meet specific criteria, such as having privity of contract with the original sale documents. We changed the method of estimating from using third-party engineer cost estimates to a method of identifying the actual number of home sites eligible for the future utility improvements, by reviewing chain of title, and inspection of home sites to better estimate our liability. The change in estimate resulted in a $8.2 million reduction of the Poinciana related liability.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 251,126	$ 170,691	$ 640,856	$ 596,344

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2024
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, 2023 (the “Annual Report”). 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/loss from the percentage of the joint venture not owned by us is presented as “Net (income)/loss 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 and 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 accompanying notes. Significant estimates include real estate development costs to complete, valuation of real estate, valuation of goodwill, valuation of estimated 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 generally using the relative sales value method. Generally, all overhead costs relating to purchasing, vertical construction, 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 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 ("Topic 360"). 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 projections and estimates may lead to a change in the outcome of our impairment analysis, and actual results may also differ from our assumptions. For the three months ended September 30, 2024, there was no inventory impairment recorded. For the nine months ended September 30, 2024, we recorded $2.3 million of inventory impairment relating to one of our communities in our East reporting segment. For the three and nine months ended September 30, 2023, we recorded $11.8 million of impairment charges relating to one of our communities in our West reporting segment. Inventory impairments are recorded to Cost of home closings on the unaudited Condensed consolidated statements of operations. 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 September 30, 2024 and December 31, 2023, we had no long-term strategic assets. 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 immediate use of funds from our available cash or other financing sources, we 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. We incur interest expense on these arrangements. Interest is based on remaining lots to be purchased and is capitalized for the percentage of lots in each project actively under development, with the remainder expensed and included in Interest expense/(income), net on the unaudited Condensed consolidated statements of operations. The entities grant us an option to acquire lots in staged takedowns. In consideration for this option, we make a non-significant and non-refundable cash deposit. We are not legally obligated to purchase 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. As such, these entities are not consolidated. 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. As of September 30, 2024 and December 31, 2023, we had the right to purchase 5,822 lots and 5,818 lots under such land agreements for an aggregate purchase price of $968.4 million and $822.1 million, respectively. We are not legally obligated to purchase the balance of the lots. As of September 30, 2024 and December 31, 2023, our exposure to loss related to deposits on land banking arrangements totaled $127.4 million and $129.2 million, respectively.
Assets Held for Sale	Assets Held for Sale Real estate and inventory assets are considered held for sale once it is determined all criteria in accordance with Topic 360 have been met. The criteria includes the following considerations: (i) whether the company is committed to a plan to sell, (ii) whether the asset is available for immediate sale in the asset's present condition, (iii) whether an active program to locate a buyer and other actions required to complete the plan to sell have been initiated, (iv) whether the sale of the asset is probable (i.e., likely to occur) and the transfer is expected to qualify for recognition as a completed sale within one year, (v) whether the long-lived asset or disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value, and (vi) whether actions necessary to complete the plan indicate that it is unlikely significant changes to the plan will be made and that the plan will be withdrawn. Real estate and inventory assets held for sale are reported at the lower of carrying value or estimated fair value, less estimated costs to sell. The estimated fair value is generally based on a sales listing agreement, purchase and sales agreement, letter of intent, broker price opinion, recent offers received, prices for assets in recent comparable sales transactions, or other third-party estimate. Impairment loss on real estate or inventory assets held for sale is recognized when the carrying value is greater than the fair value less estimated costs to sell, which is based on the estimated sales price of the property. In the event an asset classified as held for sale no longer meets the criteria for held for sale classification the asset is reclassified as held for use at the lower of the fair value or the depreciated basis as if the asset had continued to be used. Inventory Assets 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. For the three months ended September 30, 2024, we did not record any fair value adjustments for land held for sale. For the nine months ended September 30, 2024, we recorded $6.8 million of fair value adjustments for land held for sale in our West reporting segment. For the three and nine months ended September 30, 2023, we had no such charges. Adjustments for land held for sale are recorded within Cost of land closings on the unaudited Condensed consolidated statements of operations. Real Estate Assets Held for Sale - During the three months ended September 30, 2024, we entered into an exclusive listing agreement for one Build-To-Rent asset in Texas and one Build-To-Rent asset in Arizona. As of September 30, 2024, we determined these two Build-To-Rent assets, which are in our Corporate and Unallocated operating and reporting segment, to be classified as held for sale based on the criteria above. We expect both sales to occur during the fourth quarter of 2024. The carrying amounts for these Build-To-Rent assets are $38.6 million and $41.6 million, respectively and are included in property and equipment, net on the unaudited Condensed consolidated balance sheets. As the fair value is greater than the carrying value for each asset, no adjustment to fair value was recorded. There were no assets classified as held for sale as of December 31, 2023.
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 from unconsolidated entities on the unaudited Condensed consolidated statements of operations when earned and distributions are credited against our Investments in unconsolidated entities on the unaudited Condensed consolidated balance sheets when received.
Treasury Stock	Treasury Stock — We account for treasury stock, including the shares repurchased as part of our Accelerated Share Repurchase ("ASR") programs, in accordance with ASC Topic 505-30, Equity—Treasury Stock. Repurchased shares are reflected as a reduction in stockholders' equity. Refer to Note 10 - Stockholders' Equity for additional discussion regarding ASR programs.
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 home and land closings 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, pursuant to which we 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 operations 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, based on the difference between the selling price and carrying value of the related loans upon sale, recording a gain/loss on sale in the period of sale. Also included in Financial services revenue/expenses is the realized and unrealized gains and losses from hedging instruments. ASC Topic 815-25, Derivatives and Hedging
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which is intended to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 requires all public entities to report segment information in accordance with Topic 280. The guidance will be effective for the annual reporting period ending December 31, 2024 but entities may early adopt. We do not believe the adoption of ASU 2023-07 will have a material impact on our consolidated financial statements and disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures , which establishes new income tax disclosure requirements. Under the new guidance, entities must consistently categorize and provide greater disaggregation of information in the rate reconciliation and income taxes paid by jurisdiction. This ASU can be applied prospectively or retrospectively and is effective for the annual reporting period beginning January 1, 2025. We are currently evaluating ASU 2023-09 and do not expect it to have a material effect on our consolidated financial statements and disclosures.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
EARNINGS PER SHARE (Tables)	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule 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 Nine Months Ended 2024 2023 2024 2023 Numerator: Net income $ 251,126 $ 170,691 $ 640,856 $ 596,344 Denominator: Weighted average shares – basic 104,132 108,837 105,359 108,827 Restricted stock units 877 940 970 895 Stock Options 1,080 845 1,032 814 Weighted average shares – diluted 106,089 110,622 107,361 110,536 Earnings per common share – basic: Net income $ 2.41 $ 1.57 $ 6.08 $ 5.48 Earnings per common share – diluted: Net income $ 2.37 $ 1.54 $ 5.97 $ 5.40

REAL ESTATE INVENTORY (Tables)

REAL ESTATE INVENTORY (Tables)	9 Months Ended
REAL ESTATE INVENTORY (Tables)	Sep. 30, 2024
Real Estate [Abstract]
Schedule of Inventory	Inventory consists of the following: As of (Dollars in thousands) September 30, December 31, Real estate developed and under development $ 4,342,785 $ 3,855,534 Real estate held for development or held for sale (1) 49,753 29,317 Total land inventory 4,392,538 3,884,851 Operating communities (2) 1,705,198 1,414,528 Capitalized interest 167,544 174,449 Total owned inventory 6,265,280 5,473,828 Consolidated real estate not owned 175,245 71,618 Total real estate inventory $ 6,440,525 $ 5,545,446 (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.
Schedule of Development Status of Land Inventory	A summary of owned and controlled lots is as follows: As of September 30, December 31, 2023 Owned lots: Undeveloped 13,726 13,418 Under development 9,971 8,848 Finished 11,239 11,811 Total owned lots 34,936 34,077 Controlled lots: Land option purchase contracts 10,028 8,621 Land banking arrangements 5,822 5,818 Other controlled lots (1) 32,793 23,846 Total controlled lots 48,643 38,285 Total owned and controlled lots 83,579 72,362 Homes in inventory 8,490 7,867 (1) Other controlled lots include single transaction take-downs and lots from our portion of unconsolidated JVs.
Schedule of Interest Capitalized, Incurred, Expensed and Amortized	Interest capitalized, incurred and amortized is as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Interest capitalized - beginning of period $ 172,263 $ 191,304 $ 174,449 $ 190,123 Interest incurred and capitalized (1) 25,345 28,270 75,087 94,452 Interest amortized to cost of home closings (30,064) (32,377) (81,992) (97,378) Interest capitalized - end of period $ 167,544 $ 187,197 $ 167,544 $ 187,197 (1) Excludes Interest expense/(income), net on the unaudited Condensed consolidated statements of operations as such amounts are not capitalizable.

INVESTMENTS IN CONSOLIDATED A_2

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2024
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 September 30, December 31, Assets: Real estate inventory $ 1,232,415 $ 952,223 Other assets 198,446 182,517 Total assets $ 1,430,861 $ 1,134,740 Liabilities and owners’ equity: Debt $ 469,811 $ 317,224 Other liabilities 72,963 50,739 Total liabilities $ 542,774 $ 367,963 Owners’ equity: TMHC $ 397,061 $ 346,192 Others 491,026 420,585 Total owners’ equity $ 888,087 $ 766,777 Total liabilities and owners’ equity $ 1,430,861 $ 1,134,740 Three Months Ended Nine Months Ended 2024 2023 2024 2023 Revenues $ 65,075 $ 44,010 $ 228,227 $ 95,647 Costs and expenses (63,094) (37,810) (212,450) (76,575) Net income $ 1,981 $ 6,200 $ 15,777 $ 19,072 TMHC’s share in net income of unconsolidated entities $ 707 $ 1,934 $ 6,086 $ 7,049 Distributions to TMHC from unconsolidated entities $ 14,837 $ 2,226 $ 29,864 $ 8,110

ACCRUED EXPENSES AND OTHER LI_2

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	9 Months Ended
ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	Sep. 30, 2024
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following (in thousands): As of September 30, 2024 December 31, 2023 Real estate development costs to complete $ 42,611 $ 46,114 Compensation and employee benefits 145,485 149,095 Self-insurance and warranty reserves 193,313 184,448 Interest payable 26,983 31,042 Property and sales taxes payable 45,476 30,887 Other accruals 123,633 107,488 Total accrued expenses and other liabilities $ 577,501 $ 549,074
Summary of Changes in Reserves	A summary of the changes in reserves are as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 (1) 2024 2023 (1) Reserve - beginning of period $ 181,790 $ 160,326 $ 184,448 $ 161,675 Additions to reserves 20,971 16,385 63,161 55,720 Cost of claims incurred (18,423) (18,795) (68,329) (62,622) Changes in estimates to pre-existing reserves 8,975 12,320 14,033 15,463 Reserve - end of period $ 193,313 $ 170,236 $ 193,313 $ 170,236 (1) Includes amount reclassified from Additions to reserves to Changes in estimates to pre-existing reserves.

DEBT (Tables)

DEBT (Tables)	9 Months Ended
DEBT (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Senior Notes and Other Borrowings	Total debt consists of the following (in thousands): As of September 30, 2024 December 31, 2023 Principal Unamortized Carrying Principal Unamortized Carrying 5.875% Senior Notes due 2027 500,000 (2,085) 497,915 500,000 (2,672) 497,328 6.625% Senior Notes due 2027 (1) 27,070 805 27,875 27,070 1,022 28,092 5.75% Senior Notes due 2028 450,000 (2,078) 447,922 450,000 (2,551) 447,449 5.125% Senior Notes due 2030 500,000 (3,698) 496,302 500,000 (4,174) 495,826 Senior Notes subtotal $ 1,477,070 $ (7,056) $ 1,470,014 $ 1,477,070 $ (8,375) $ 1,468,695 Loans payable and other borrowings 439,878 — 439,878 394,943 — 394,943 $1 Billion Revolving Credit Facility (2) — — — — — — Mortgage warehouse facilities borrowings 233,331 — 233,331 153,464 — 153,464 Total debt $ 2,150,279 $ (7,056) $ 2,143,223 $ 2,025,477 $ (8,375) $ 2,017,102 (1) Unamortized debt issuance premium 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 unaudited Condensed consolidated balance sheets.
Summary of Mortgage Subsidiary Borrowings	The following is a summary of our mortgage warehouse facilities borrowings (in thousands): As of September 30, 2024 Facility Amount Facility Interest Rate (1) Expiration Collateral (2) Warehouse A $ 37,036 $ 60,000 Term SOFR + 1.70% on Demand Mortgage Loans Warehouse C 64,906 100,000 Term SOFR + 1.50% on Demand Mortgage Loans Warehouse D 63,359 100,000 Daily SOFR + 1.50% September 3, 2025 Mortgage Loans Warehouse E 68,030 100,000 Term SOFR + 1.60% on Demand Mortgage Loans Total $ 233,331 $ 360,000 As of December 31, 2023 Facility Amount Facility Interest Rate (1) Expiration Collateral (2) Warehouse A $ 13,477 $ 60,000 Term SOFR + 1.70% on Demand Mortgage Loans Warehouse C 25,567 100,000 Term SOFR + 1.65% on Demand Mortgage Loans Warehouse D 56,745 100,000 Daily SOFR + 1.50% September 4, 2024 Mortgage Loans Warehouse E 57,675 100,000 Term SOFR + 1.60% on Demand Mortgage Loans Total $ 153,464 $ 360,000 (1) Secured Overnight Financing Rate ("SOFR") (2) The mortgage warehouse facilities borrowings outstanding as of September 30, 2024 and December 31, 2023 were collateralized by $265.4 million and $193.3 million, respectively, of mortgage loans held for sale.

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	9 Months Ended
FAIR VALUE DISCLOSURES (Tables)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Summary of Carrying Value and Fair Value of Financial Instruments	The carrying value and fair value of our financial instruments are as follows: September 30, 2024 December 31, 2023 (Dollars in thousands) Level in Fair Carrying Estimated Carrying Estimated Description: Mortgage loans held for sale 2 $ 265,356 $ 265,356 $ 193,344 $ 193,344 IRLCs 3 (3,517) (3,517) 1,489 1,489 MBSs 2 542 542 (5,055) (5,055) Mortgage warehouse facilities borrowings 2 233,331 233,331 153,464 153,464 Loans payable and other borrowings 2 439,878 439,878 394,943 394,943 5.875% Senior Notes due 2027 (1) 2 497,915 510,025 497,328 502,500 6.625% Senior Notes due 2027 (1) 2 27,875 27,128 28,092 26,529 5.75% Senior Notes due 2028 (1) 2 447,922 458,163 447,449 451,571 5.125% Senior Notes due 2030 (1) 2 496,302 497,670 495,826 483,690 (1)
Summary of Fair Value of Assets Measured on a Nonrecurring Basis	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 June 30, 2024 As of September 30, 2023 (1) Description: Real estate inventory 3 $ 7,024 $ 19,263 (1) As of December 31, 2023 there was no additional impairment; therefore, the fair value information presented is as of September 30, 2023.

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
STOCKHOLDERS' EQUITY (Tables)	Sep. 30, 2024
Equity [Abstract]
Summary of Share Repurchase Activity	The following table summarizes share repurchase activity for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, (Number of Shares) 2024 2023 2024 2023 March 5, 2024 ASR Agreement 165,467 — 870,810 — June 7, 2024 ASR Agreement 88,444 — 808,905 — September 12, 2024 ASR Agreement 580,804 — 580,804 — Number of shares repurchased with ASR 834,715 — 2,260,519 — Other share repurchases (1) 208,764 2,169,657 1,978,248 2,278,982 Total share repurchases - end of period 1,043,479 2,169,657 4,238,767 2,278,982 (1) Amount represents shares repurchased under our existing share repurchase program which are not part of ASRs.
Summary of Spend on Share Repurchase	The following table summarizes our spend on share repurchases for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2024 2023 2024 2023 Amount available for repurchase — beginning of period $ 298,095 $ 275,570 $ 494,489 $ 279,138 Amount repurchased (1) (61,297) (100,000) (257,691) (103,568) Amount available for repurchase — end of period $ 236,798 $ 175,570 $ 236,798 $ 175,570 (1) 2024 amounts include the amount paid for our ASR programs.

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	9 Months Ended
STOCK BASED COMPENSATION (Tables)	Sep. 30, 2024
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 September 30, 2024: RSUs and PRSUs Stock Options Number of Units Weighted Average Number of Options Weighted Balance at September 30, 2024 1,338,592 $ 38.15 2,088,092 $ 28.67
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 Nine Months Ended 2024 2023 2024 2023 Restricted stock units (1) $ 4,390 $ 4,615 $ 13,834 $ 15,502 Stock options 1,071 1,087 3,182 3,004 Total stock compensation expense $ 5,461 $ 5,702 $ 17,016 $ 18,506 (1) Includes compensation expense related to time-based RSUs and PRSUs.

OPERATING AND REPORTING SEGME_2

OPERATING AND REPORTING SEGMENTS (Tables)	9 Months Ended
OPERATING AND REPORTING SEGMENTS (Tables)	Sep. 30, 2024
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, Houston, and Indianapolis 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 September 30, 2024 East Central West Financial Corporate and Unallocated (1) Total Total revenue $ 766,821 $ 517,418 $ 781,626 $ 49,654 $ 5,323 $ 2,120,842 Gross margin 209,650 127,647 169,652 22,350 1,770 531,069 Selling (2) , general and administrative expenses (56,260) (45,188) (48,315) — (49,578) (199,341) Net income/(loss) from unconsolidated entities — 38 (4) 1,337 (664) 707 Interest and other income/(expense), net (3) 6,092 (2,436) (2,323) 438 (1,515) 256 Income/(loss) before income taxes $ 159,482 $ 80,061 $ 119,010 $ 24,125 $ (49,987) $ 332,691 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Includes sales, commissions and other marketing costs. (3) Interest and other income/(expense), net includes pre-acquisition write-offs on terminated projects. In addition, the East reporting segment includes the estimated development liabilities change in estimate for the three months ended September 30, 2024. Three Months Ended September 30, 2023 East Central West Financial Services Corporate and Unallocated (1) Total Total revenue $ 582,557 $ 433,610 $ 615,817 $ 40,045 $ 3,516 $ 1,675,545 Gross margin 158,096 109,481 106,103 16,917 1,121 391,718 Selling (2) , general and administrative expenses (42,957) (37,712) (45,442) 91 (41,771) (167,791) Net (loss)/income from unconsolidated entities — (81) 341 1,671 3 1,934 Interest and other (expense)/income, net (3) (425) (2,380) (2,929) — 8,548 2,814 Loss on extinguishment of debt, net — — — — (269) (269) Income/(loss) before income taxes $ 114,714 $ 69,308 $ 58,073 $ 18,679 $ (32,368) $ 228,406 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Includes sales, commissions and other marketing costs. (3) Interest and other (expense)/income, net includes pre-acquisition write-offs on terminated projects. Nine Months Ended September 30, 2024 East Central West Financial Corporate and Unallocated (1) Total Total revenue $ 2,008,762 $ 1,489,313 $ 2,153,531 $ 145,529 $ 14,512 $ 5,811,647 Gross margin 533,690 374,506 442,650 64,976 4,380 1,420,202 Selling (2) , general and administrative expenses (155,523) (124,546) (141,130) — (145,041) (566,240) Net (loss)/income from unconsolidated entities — (31) 49 7,235 (1,167) 6,086 Interest and other income/(expense), net (3) 4,705 (7,712) (8,950) 1,772 (1,075) (11,260) Income/(loss) before income taxes $ 382,872 $ 242,217 $ 292,619 $ 73,983 $ (142,903) $ 848,788 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Includes sales, commissions and other marketing costs. (3) Interest and other income/(expense), net includes pre-acquisition write-offs on terminated projects. In addition, the East reporting segment includes the estimated development liabilities change in estimate for the nine months ended September 30, 2024. Nine Months Ended September 30, 2023 East Central West Financial Corporate and Unallocated (1) Total Total revenue $ 1,933,434 $ 1,521,829 $ 1,815,980 $ 117,108 $ 9,615 $ 5,397,966 Gross margin 526,968 381,279 333,843 46,490 2,389 1,290,969 Selling (2) , general and administrative expenses (133,908) (120,058) (133,027) — (123,502) (510,495) Net (loss)/income from unconsolidated entities — (63) (67) 7,205 (26) 7,049 Interest and other (expense)/income, net (3) (2,773) (5,241) (2,157) — 15,501 5,330 Loss on extinguishment of debt, net — — — — (269) (269) Income/(loss) before income taxes $ 390,287 $ 255,917 $ 198,592 $ 53,695 $ (105,907) $ 792,584 (1) Includes the activity from our Build-To-Rent and Urban Form operations. (2) Includes sales, commissions and other marketing costs. (3) Interest and other (expense)/income, net includes pre-acquisition write-offs on terminated projects.
Summary of Assets by Segment	As of September 30, 2024 East Central West Financial Services Corporate and Unallocated (1) Total Real estate inventory and land deposits $ 2,379,080 $ 1,315,754 $ 3,019,658 $ — $ — $ 6,714,492 Investments in unconsolidated entities 81,378 133,182 94,932 5,483 82,086 397,061 Other assets 156,550 220,638 617,623 344,899 849,173 2,188,883 Total assets $ 2,617,008 $ 1,669,574 $ 3,732,213 $ 350,382 $ 931,259 $ 9,300,436 (1) Includes the assets from our Build-To-Rent and Urban Form operations. As of December 31, 2023 East Central West Financial Corporate and Unallocated (1) Total Real estate inventory and land deposits $ 1,909,084 $ 1,181,014 $ 2,658,565 $ — $ — $ 5,748,663 Investments in unconsolidated entities 63,628 125,610 88,219 5,483 63,252 346,192 Other assets 177,739 214,685 616,210 298,451 1,270,147 2,577,232 Total assets $ 2,150,451 $ 1,521,309 $ 3,362,994 $ 303,934 $ 1,333,399 $ 8,672,087 (1) Includes the assets from our Build-To-Rent and Urban Form operations.

MORTGAGE HEDGING ACTIVITIES (Ta

MORTGAGE HEDGING ACTIVITIES (Tables)	9 Months Ended
MORTGAGE HEDGING ACTIVITIES (Tables)	Sep. 30, 2024
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 September 30, 2024 December 31, 2023 (Dollars in thousands) Fair Value Notional Amount (1) Fair Value Notional Amount (1) IRLCs $ (3,517) $ 299,712 $ 1,489 $ 219,129 MBSs 542 702,000 (5,055) 285,000 Total $ (2,975) $ (3,566) (1) The notional amounts in the table above include mandatory and best effort mortgages, that have been locked and approved.

BUSINESS (Details)

BUSINESS (Details)	9 Months Ended
BUSINESS (Details)	Sep. 30, 2024 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 (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) asset lot	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) asset lot	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) lot
Significant Accounting Policies [Line Items]
Inventory impairments			$ 2,325,000	$ 11,791,000
Total controlled lots \| lot	48,643		48,643		38,285
Purchase price	$ 968,400,000		$ 968,400,000		$ 822,100,000
Land deposits	$ 127,400,000		127,400,000		129,200,000
Land held for sale write-down			$ 6,782,000	0
Build to rent asset \| asset	2		2
Assets held for sale					$ 0
Equity method investment, other than temporary impairment	$ 0	$ 0	$ 0	0
Land banking arrangements
Significant Accounting Policies [Line Items]
Total controlled lots \| lot	5,822		5,822		5,818
East
Significant Accounting Policies [Line Items]
Inventory impairments	$ 0		$ 2,300,000
West
Significant Accounting Policies [Line Items]
Inventory impairments		$ 11,800,000		$ 11,800,000
Build to rent asset \| asset	1		1
West \| Operating Segments
Significant Accounting Policies [Line Items]
Land held for sale write-down			$ 6,800,000
Assets held for sale	$ 41,600,000		$ 41,600,000
Central
Significant Accounting Policies [Line Items]
Build to rent asset \| asset	1		1
Central \| Operating Segments
Significant Accounting Policies [Line Items]
Assets held for sale	$ 38,600,000		$ 38,600,000
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 - Schedule o

EARNINGS PER SHARE - Schedule of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income	$ 251,126	$ 170,691	$ 640,856	$ 596,344
Denominator:
Weighted average shares - basic (in shares)	104,132	108,837	105,359	108,827
Weighted average shares - diluted (in shares)	106,089	110,622	107,361	110,536
Earnings per common share — basic:
Net income (in dollars per share)	$ 2.41	$ 1.57	$ 6.08	$ 5.48
Earnings per common share — diluted:
Net income (in dollars per share)	$ 2.37	$ 1.54	$ 5.97	$ 5.40
Restricted stock units
Denominator:
Restricted stock units and stock options (in shares)	877	940	970	895
Stock Options
Denominator:
Restricted stock units and stock options (in shares)	1,080	845	1,032	814

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares	3 Months Ended		9 Months Ended
EARNINGS PER SHARE - Narrative (Details) - shares	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
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)	128,700	353,947	113,664	282,124
Accelerated Share Repurchase (ASRs)
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)	145,201	0	145,201	0

REAL ESTATE INVENTORY - Schedul

REAL ESTATE INVENTORY - Schedule of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Real Estate [Abstract]
Real estate developed and under development	$ 4,342,785		$ 3,855,534
Real estate held for development or held for sale	49,753		29,317
Total land inventory	4,392,538		3,884,851
Operating communities	1,705,198		1,414,528
Capitalized interest	167,544	$ 172,263	174,449	$ 187,197	$ 191,304	$ 190,123
Total owned inventory	6,265,280		5,473,828
Consolidated real estate not owned	175,245		71,618
Total real estate inventory	$ 6,440,525		$ 5,545,446

REAL ESTATE INVENTORY - Sched_2

REAL ESTATE INVENTORY - Schedule of Development Status of Land Inventory (Details)	Sep. 30, 2024 lot home	Dec. 31, 2023 lot home
Inventory [Line Items]
Total owned lots	34,936	34,077
Total controlled lots	48,643	38,285
Total owned and controlled lots	83,579	72,362
Homes in inventory \| home	8,490	7,867
Undeveloped
Inventory [Line Items]
Total owned lots	13,726	13,418
Under development
Inventory [Line Items]
Total owned lots	9,971	8,848
Finished
Inventory [Line Items]
Total owned lots	11,239	11,811
Land option purchase contracts
Inventory [Line Items]
Total controlled lots	10,028	8,621
Land banking arrangements
Inventory [Line Items]
Total controlled lots	5,822	5,818
Other controlled lots
Inventory [Line Items]
Total controlled lots	32,793	23,846

REAL ESTATE INVENTORY - Sched_3

REAL ESTATE INVENTORY - Schedule of Interest Capitalized, Incurred, Expensed and Amortized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Capitalized Interest Costs [Roll Forward]
Interest capitalized - beginning of period	$ 172,263	$ 191,304	$ 174,449	$ 190,123
Interest incurred and capitalized	25,345	28,270	75,087	94,452
Interest amortized to cost of home closings	(30,064)	(32,377)	(81,992)	(97,378)
Interest capitalized - end of period	$ 167,544	$ 187,197	$ 167,544	$ 187,197

INVESTMENTS IN CONSOLIDATED A_3

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES - Summarized Balance Sheets of Unconsolidated Entities Accounted by Equity Method (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets:
Real estate inventory	$ 4,392,538	$ 3,884,851
Other assets	2,188,883	2,577,232
Total assets	9,300,436	8,672,087
Liabilities and owners’ equity:
Debt	2,143,223	2,017,102
Total liabilities	3,576,974	3,339,801
Owners’ equity:
Total liabilities and stockholders’ equity	9,300,436	8,672,087
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Assets:
Real estate inventory	1,232,415	952,223
Other assets	198,446	182,517
Total assets	1,430,861	1,134,740
Liabilities and owners’ equity:
Debt	469,811	317,224
Other liabilities	72,963	50,739
Total liabilities	542,774	367,963
Owners’ equity:
TMHC	397,061	346,192
Others	491,026	420,585
Total owners’ equity	888,087	766,777
Total liabilities and stockholders’ equity	$ 1,430,861	$ 1,134,740

INVESTMENTS IN CONSOLIDATED A_4

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES - Summarized Statements of Operations of Unconsolidated Entities Accounted by Equity Method (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule of Equity Method Investments [Line Items]
Revenues	$ 2,120,842	$ 1,675,545	$ 5,811,647	$ 5,397,966
Costs and expenses	(1,589,773)	(1,283,827)	(4,391,445)	(4,106,997)
Net income	251,126	170,691	640,856	596,344
TMHC’s share in net income of unconsolidated entities	707	1,934	6,086	7,049
Distributions to TMHC from unconsolidated entities			11,265	7,377
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Revenues	65,075	44,010	228,227	95,647
Costs and expenses	(63,094)	(37,810)	(212,450)	(76,575)
Net income	1,981	6,200	15,777	19,072
Taylor Morrison Home Corporation
Schedule of Equity Method Investments [Line Items]
TMHC’s share in net income of unconsolidated entities	707	1,934	6,086	7,049
Distributions to TMHC from unconsolidated entities	$ 14,837	$ 2,226	$ 29,864	$ 8,110

INVESTMENTS IN CONSOLIDATED A_5

INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Assets	$ 9,300,436	$ 8,672,087
Cash and cash equivalents	256,447	798,568
Total real estate inventory	6,440,525	5,545,446
Fixed assets	322,483	295,121
Liabilities	3,576,974	3,339,801
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	256,500	265,200
Cash and cash equivalents	19,600	29,800
Total real estate inventory	74,000	70,200
Fixed assets	119,200	121,300
Liabilities	$ 79,900	$ 133,800

ACCRUED EXPENSES AND OTHER LI_3

ACCRUED EXPENSES AND OTHER LIABILITIES - Summary of Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Real estate development costs to complete	$ 42,611		$ 46,114
Compensation and employee benefits	145,485		149,095
Self-insurance and warranty reserves	193,313	$ 181,790	184,448	$ 170,236	$ 160,326	$ 161,675
Interest payable	26,983		31,042
Property and sales taxes payable	45,476		30,887
Other accruals	123,633		107,488
Total accrued expenses and other liabilities	$ 577,501		$ 549,074

ACCRUED EXPENSES AND OTHER LI_4

ACCRUED EXPENSES AND OTHER LIABILITIES - Summary of Changes in Reserves (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Summary of changes in warranty reserves
Reserve - beginning of period	$ 181,790	$ 160,326	$ 184,448	$ 161,675
Additions to reserves	20,971	16,385	63,161	55,720
Cost of claims incurred	(18,423)	(18,795)	(68,329)	(62,622)
Changes in estimates to pre-existing reserves	8,975	12,320	14,033	15,463
Reserve - end of period	$ 193,313	$ 170,236	$ 193,313	$ 170,236

DEBT - Senior Notes and Other B

DEBT - Senior Notes and Other Borrowings (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Facility Amount	$ 360,000,000	$ 360,000,000
Principal	2,150,279,000	2,025,477,000
Unamortized Debt Issuance (Costs)/ Premium	(7,056,000)	(8,375,000)
Carrying Value	2,143,223,000	2,017,102,000
Loans payable and other borrowings
Debt Instrument [Line Items]
Principal	439,878,000	394,943,000
Unamortized Debt Issuance (Costs)/ Premium	0	0
Carrying Value	439,878,000	394,943,000
Mortgage warehouse facilities borrowings
Debt Instrument [Line Items]
Principal	233,331,000	153,464,000
Unamortized Debt Issuance (Costs)/ Premium	0	0
Carrying Value	233,331,000	153,464,000
Senior Notes
Debt Instrument [Line Items]
Principal	1,477,070,000	1,477,070,000
Unamortized Debt Issuance (Costs)/ Premium	(7,056,000)	(8,375,000)
Carrying Value	$ 1,470,014,000	1,468,695,000
Senior Notes \| $5.875% Senior Notes due 2027
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.875%
Principal	$ 500,000,000	500,000,000
Unamortized Debt Issuance (Costs)/ Premium	(2,085,000)	(2,672,000)
Carrying Value	$ 497,915,000	497,328,000
Senior Notes \| 6.625% Senior Notes Due 2027
Debt Instrument [Line Items]
Stated interest rate of senior notes	6.625%
Principal	$ 27,070,000	27,070,000
Unamortized Debt Issuance (Costs)/ Premium	805,000	1,022,000
Carrying Value	$ 27,875,000	28,092,000
Senior Notes \| $5.75% Senior Notes due 2028
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.75%
Principal	$ 450,000,000	450,000,000
Unamortized Debt Issuance (Costs)/ Premium	(2,078,000)	(2,551,000)
Carrying Value	$ 447,922,000	447,449,000
Senior Notes \| $5.125% Senior Notes due 2030
Debt Instrument [Line Items]
Stated interest rate of senior notes	5.125%
Principal	$ 500,000,000	500,000,000
Unamortized Debt Issuance (Costs)/ Premium	(3,698,000)	(4,174,000)
Carrying Value	496,302,000	495,826,000
Line of Credit \| $1 Billion Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Facility Amount	1,000,000,000
Principal	0	0
Unamortized Debt Issuance (Costs)/ Premium	0	0
Carrying Value	$ 0	$ 0

DEBT - $1 Billion Revolving Cre

DEBT - $1 Billion Revolving Credit Facility (Details) - USD ($)	3 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit	$ 360,000,000	$ 360,000,000
Revolving credit facility borrowings	0	0
Letters of credit utilized	1,400,000,000	1,300,000,000
Revolving Credit Facility \| $1 Billion Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity on line of credit	1,000,000,000
Repayments of long-term debt	100,000,000
Proceeds from long-term debt	100,000,000
Unamortized debt issuance costs	2,200,000	2,900,000
Letters of credit utilized	54,200,000	61,200,000
Availability under revolving credit facility	$ 945,800,000	$ 938,800,000

DEBT - $100 Million Revolving C

DEBT - $100 Million Revolving Credit Facility (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Facility Amount	$ 360,000,000	$ 360,000,000
Revolving Credit Facility \| $100 Million Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Facility Amount	$ 100,000,000

DEBT - Summary of Mortgage Ware

DEBT - Summary of Mortgage Warehouse Borrowings (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Amount Drawn	$ 233,331	$ 153,464
Facility Amount	360,000	360,000
Secured Debt \| Warehouse A
Line of Credit Facility [Line Items]
Amount Drawn	37,036	13,477
Facility Amount	$ 60,000	$ 60,000
Interest Rate	1.70%	1.70%
Secured Debt \| Warehouse C
Line of Credit Facility [Line Items]
Amount Drawn	$ 64,906	$ 25,567
Facility Amount	$ 100,000	$ 100,000
Interest Rate	1.50%	1.65%
Secured Debt \| Warehouse D
Line of Credit Facility [Line Items]
Amount Drawn	$ 63,359	$ 56,745
Facility Amount	$ 100,000	$ 100,000
Interest Rate	1.50%	1.50%
Secured Debt \| Warehouse E
Line of Credit Facility [Line Items]
Amount Drawn	$ 68,030	$ 57,675
Facility Amount	$ 100,000	$ 100,000
Interest Rate	1.60%	1.60%
Mortgage loans
Line of Credit Facility [Line Items]
Mortgage loans held for sale	$ 265,400	$ 193,300

DEBT - Loans Payable and Other

DEBT - Loans Payable and Other Borrowings (Details) - Loans Payable and Other Borrowings	Sep. 30, 2024	Dec. 31, 2023
Minimum
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0%	0%
Maximum
Debt Instrument [Line Items]
Stated interest rate (as a percent)	11%	9%

FAIR VALUE DISCLOSURES - Summar

FAIR VALUE DISCLOSURES - Summary of Carrying Value and Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Senior Notes \| $5.875% Senior Notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate (as a percent)	5.875%
Senior Notes \| 6.625% Senior Notes Due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate (as a percent)	6.625%
Senior Notes \| 5.75% Senior Notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate (as a percent)	5.75%
Senior Notes \| $5.125% Senior Notes due 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stated interest rate (as a percent)	5.125%
Carrying Value \| 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale	$ 265,356	$ 193,344
Carrying Value \| 2 \| MBSs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	542
Derivative liabilities		(5,055)
Carrying Value \| 2 \| Mortgage warehouse facilities borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	233,331	153,464
Carrying Value \| 2 \| Loans payable and other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	439,878	394,943
Carrying Value \| 2 \| Senior Notes \| $5.875% Senior Notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	497,915	497,328
Carrying Value \| 2 \| Senior Notes \| 6.625% Senior Notes Due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	27,875	28,092
Carrying Value \| 2 \| Senior Notes \| 5.75% Senior Notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	447,922	447,449
Carrying Value \| 2 \| Senior Notes \| $5.125% Senior Notes due 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	496,302	495,826
Carrying Value \| 3 \| IRLCs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		1,489
Derivative liabilities	(3,517)
Estimated Fair Value \| 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale	265,356	193,344
Estimated Fair Value \| 2 \| MBSs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	542
Derivative liabilities		(5,055)
Estimated Fair Value \| 2 \| Mortgage warehouse facilities borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	233,331	153,464
Estimated Fair Value \| 2 \| Loans payable and other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	439,878	394,943
Estimated Fair Value \| 2 \| Senior Notes \| $5.875% Senior Notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	510,025	502,500
Estimated Fair Value \| 2 \| Senior Notes \| 6.625% Senior Notes Due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	27,128	26,529
Estimated Fair Value \| 2 \| Senior Notes \| 5.75% Senior Notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	458,163	451,571
Estimated Fair Value \| 2 \| Senior Notes \| $5.125% Senior Notes due 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	497,670	483,690
Estimated Fair Value \| 3 \| IRLCs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		$ 1,489
Derivative liabilities	$ (3,517)

FAIR VALUE DISCLOSURES - Summ_2

FAIR VALUE DISCLOSURES - Summary of Assets Measure on a Nonrecurring Basis (Detail) - Nonrecurring - 3 - USD ($)	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate inventory	$ 7,024,000		$ 19,263,000
Inventories additional impairment		$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Effective rate	24.40%	25.40%	24.30%	24.70%
Unrecognized tax benefits	$ 0		$ 0		$ 0

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details)		3 Months Ended		9 Months Ended
STOCKHOLDERS' EQUITY - Narrative (Details)	Aug. 16, 2022	Sep. 30, 2024 USD ($) agreement $ / shares shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) agreement $ / shares shares	Sep. 30, 2023 USD ($)	Oct. 23, 2024 USD ($)	Dec. 15, 2023 USD ($)
Equity, Class of Treasury Stock [Line Items]
Common stock, shares authorized (in shares) \| shares		400,000,000		400,000,000
Common stock, par value (in dollars per share) \| $ / shares		$ 0.00001		$ 0.00001
Preferred stock, shares authorized (in shares) \| shares		50,000,000		50,000,000
Preferred stock, par value (in dollars per share) \| $ / shares		$ 0.00001		$ 0.00001
Stock repurchase program, authorized amount							$ 500,000,000
Number of ASR agreements \| agreement		3		3
Repurchase of stock		$ 61,297,000	$ 100,000,000	$ 257,691,000	$ 103,568,000
Percentage of excise tax on net repurchase of stock	1%
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount						$ 1,000,000,000
ASR Agreement
Equity, Class of Treasury Stock [Line Items]
Repurchase of stock				$ 50,000,000
Initial common stock received, percentage		0.80		0.80
Final settlement common stock, percentage		0.20		0.20

STOCKHOLDERS' EQUITY - Share Re

STOCKHOLDERS' EQUITY - Share Repurchase Activity (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Equity, Class of Treasury Stock [Line Items]
Repurchase of common stock (in shares)	1,043,479	2,169,657	4,238,767	2,278,982
ASR Agreement
Equity, Class of Treasury Stock [Line Items]
Repurchase of common stock (in shares)	834,715	0	2,260,519	0
March 5, 2024 ASR Agreement
Equity, Class of Treasury Stock [Line Items]
Repurchase of common stock (in shares)	165,467	0	870,810	0
June 7, 2024 ASR Agreement
Equity, Class of Treasury Stock [Line Items]
Repurchase of common stock (in shares)	88,444	0	808,905	0
September 12, 2024 ASR Agreement
Equity, Class of Treasury Stock [Line Items]
Repurchase of common stock (in shares)	580,804	0	580,804	0
Other share repurchases
Equity, Class of Treasury Stock [Line Items]
Repurchase of common stock (in shares)	208,764	2,169,657	1,978,248	2,278,982

STOCKHOLDERS' EQUITY - Treasury

STOCKHOLDERS' EQUITY - Treasury Stock (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Stock Repurchase Program, Increase (Decrease) [Roll Forward]
Amount available for repurchase — beginning of period	$ 298,095	$ 275,570	$ 494,489	$ 279,138
Amount repurchased	(61,297)	(100,000)	(257,691)	(103,568)
Amount available for repurchase — end of period	$ 236,798	$ 175,570	$ 236,798	$ 175,570

STOCK BASED COMPENSATION - Narr

STOCK BASED COMPENSATION - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate unamortized outstanding stock based compensation	$ 35.2	$ 26.5
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)	4,874,559

STOCK BASED COMPENSATION - Summ

STOCK BASED COMPENSATION - Summary of Restricted Stock Unit, Stock Options, and Stock Warrants Activity (Details)	Sep. 30, 2024 $ / shares shares
RSUs and PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance, Number of Units (in shares) \| shares	1,338,592
Balance, Weighted Average Grant Date Fair Value (in dollars per share) \| $ / shares	$ 38.15
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance, Number of Options (in shares) \| shares	2,088,092
Balance, Weighted Average Exercise Price Per Share (in dollars per share) \| $ / shares	$ 28.67

STOCK BASED COMPENSATION - Su_2

STOCK BASED COMPENSATION - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	$ 5,461	$ 5,702	$ 17,016	$ 18,506
Restricted Stock Units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	4,390	4,615	13,834	15,502
Stock Options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock compensation expense	$ 1,071	$ 1,087	$ 3,182	$ 3,004

OPERATING AND REPORTING SEGME_3

OPERATING AND REPORTING SEGMENTS - Narrative (Details)	9 Months Ended
OPERATING AND REPORTING SEGMENTS - Narrative (Details)	Sep. 30, 2024 segment
Segment Reporting [Abstract]
Number of reporting segments included in operating component	3

OPERATING AND REPORTING SEGME_4

OPERATING AND REPORTING SEGMENTS - Reconciliation to Net Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	$ 2,120,842	$ 1,675,545	$ 5,811,647	$ 5,397,966
Gross margin	531,069	391,718	1,420,202	1,290,969
Selling, general and administrative expense	(199,341)	(167,791)	(566,240)	(510,495)
Net income/(loss) from unconsolidated entities	707	1,934	6,086	7,049
Interest and other (expense)/income, net	256	2,814	(11,260)	5,330
Loss on extinguishment of debt, net	0	(269)	0	(269)
Income/(loss) before income taxes	332,691	228,406	848,788	792,584
Operating Segments \| East
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	766,821	582,557	2,008,762	1,933,434
Gross margin	209,650	158,096	533,690	526,968
Selling, general and administrative expense	(56,260)	(42,957)	(155,523)	(133,908)
Net income/(loss) from unconsolidated entities	0	0	0	0
Interest and other (expense)/income, net	6,092	(425)	4,705	(2,773)
Loss on extinguishment of debt, net		0		0
Income/(loss) before income taxes	159,482	114,714	382,872	390,287
Operating Segments \| Central
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	517,418	433,610	1,489,313	1,521,829
Gross margin	127,647	109,481	374,506	381,279
Selling, general and administrative expense	(45,188)	(37,712)	(124,546)	(120,058)
Net income/(loss) from unconsolidated entities	38	(81)	(31)	(63)
Interest and other (expense)/income, net	(2,436)	(2,380)	(7,712)	(5,241)
Loss on extinguishment of debt, net		0		0
Income/(loss) before income taxes	80,061	69,308	242,217	255,917
Operating Segments \| West
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	781,626	615,817	2,153,531	1,815,980
Gross margin	169,652	106,103	442,650	333,843
Selling, general and administrative expense	(48,315)	(45,442)	(141,130)	(133,027)
Net income/(loss) from unconsolidated entities	(4)	341	49	(67)
Interest and other (expense)/income, net	(2,323)	(2,929)	(8,950)	(2,157)
Loss on extinguishment of debt, net		0		0
Income/(loss) before income taxes	119,010	58,073	292,619	198,592
Operating Segments \| Financial Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	49,654	40,045	145,529	117,108
Gross margin	22,350	16,917	64,976	46,490
Selling, general and administrative expense	0	91	0	0
Net income/(loss) from unconsolidated entities	1,337	1,671	7,235	7,205
Interest and other (expense)/income, net	438	0	1,772	0
Loss on extinguishment of debt, net		0		0
Income/(loss) before income taxes	24,125	18,679	73,983	53,695
Corporate and Unallocated
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total revenue	5,323	3,516	14,512	9,615
Gross margin	1,770	1,121	4,380	2,389
Selling, general and administrative expense	(49,578)	(41,771)	(145,041)	(123,502)
Net income/(loss) from unconsolidated entities	(664)	3	(1,167)	(26)
Interest and other (expense)/income, net	(1,515)	8,548	(1,075)	15,501
Loss on extinguishment of debt, net		(269)		(269)
Income/(loss) before income taxes	$ (49,987)	$ (32,368)	$ (142,903)	$ (105,907)

OPERATING AND REPORTING SEGME_5

OPERATING AND REPORTING SEGMENTS - Summary of Assets by Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	$ 6,714,492	$ 5,748,663
Investments in unconsolidated entities	397,061	346,192
Other assets	2,188,883	2,577,232
Total assets	9,300,436	8,672,087
Operating Segments \| East
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	2,379,080	1,909,084
Investments in unconsolidated entities	81,378	63,628
Other assets	156,550	177,739
Total assets	2,617,008	2,150,451
Operating Segments \| Central
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	1,315,754	1,181,014
Investments in unconsolidated entities	133,182	125,610
Other assets	220,638	214,685
Total assets	1,669,574	1,521,309
Operating Segments \| West
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	3,019,658	2,658,565
Investments in unconsolidated entities	94,932	88,219
Other assets	617,623	616,210
Total assets	3,732,213	3,362,994
Operating Segments \| Financial Services
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	0	0
Investments in unconsolidated entities	5,483	5,483
Other assets	344,899	298,451
Total assets	350,382	303,934
Corporate and Unallocated
Segment Reporting, Asset Reconciling Item [Line Items]
Real estate inventory and land deposits	0	0
Investments in unconsolidated entities	82,086	63,252
Other assets	849,173	1,270,147
Total assets	$ 931,259	$ 1,333,399

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Detail) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Nov. 02, 2021
Loss Contingencies [Line Items]
Outstanding letters of credit	$ 1,400	$ 1,300		$ 1,400
Purchase price	968.4	822.1		968.4
Legal accruals	37.6	26.2		37.6
Loss contingency, damages paid, value		64.7
Operating lease expense	4.6		$ 5.8	16.1	$ 19.3
Maximum
Loss Contingencies [Line Items]
Loss contingency						$ 35
Land Option Purchase Contracts And Land Banking Arrangements
Loss Contingencies [Line Items]
Purchase price	$ 1,800	$ 1,500		$ 1,800

MORTGAGE HEDGING ACTIVITIES (De

MORTGAGE HEDGING ACTIVITIES (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Fair Value	$ (2,975)	$ (3,566)
Total commitments to originate loans	319,500	242,600
IRLCs
Derivative [Line Items]
Fair Value		1,489
Fair Value	(3,517)
Notional amount	299,712	219,129
MBSs
Derivative [Line Items]
Fair Value	542
Fair Value		(5,055)
Notional amount	$ 702,000	$ 285,000

ESTIMATED DEVELOPMENT LIABILI_2

ESTIMATED DEVELOPMENT LIABILITIES (Details) $ in Millions	3 Months Ended
ESTIMATED DEVELOPMENT LIABILITIES (Details) $ in Millions	Sep. 30, 2024 USD ($)
Real Estate [Abstract]
Changes in estimated future development costs	$ 8.2