What does consolidation — notes payable mean?

The removal of internal debt notes between business segments to ensure consolidated debt reflects only external borrowing.

How do you interpret consolidation — notes payable?

Changes reflect shifts in how the company manages internal financing and capital structure between its business units.

How does consolidation — notes payable compare across companies?

Standard for any large organization with internal intercompany lending arrangements.

Pultegroup PHM Consolidation — Notes Payable

Discontinued — last reported Q2 '18

Similar metrics at other companies

OHIIntersegment Elimination — Intercompany Payable

-$4.99M—

ATOIntersegment Elimination — Intercompany Payables

-$983.87M-0.2%

STLDIntersegment Elimination — Accounts Payable And Dividends Payable Including Related Party Payables

-$74.9M+40.2%

CSGPIntersegment Elimination — Liabilities

-$42.41M+30.5%

STLDIntersegment Elimination — Intra Company Debt

$17.2M+60.7%

PMTIntersegment Elimination — Interest Expense

$0+100%

Other financials

Income statement

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Revenue$3.4B-12.4%

Gross profit$881.3M-21.5%

Net income$347.0M-33.6%

EPS (diluted)$1.79-30.4%

Balance sheet

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Cash & equivalents$1.8B+44.5%

Total debt$129.6M+7.0%

Total equity$13.0B+5.3%

Total assets$18.2B+5.0%

Cash flow

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Operating cash flow$159.8M+19.0%

CapEx$25.4M-14.2%

Free cash flow$134.4M+28.4%

Valuation

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Market cap$24.18B+8.7%

Enterprise value$22.47B+6.4%

P/E11.8×+4.3×

P/S1.4×+0.2×

Profitability

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Gross margin26.7%—

Net margin12.1%-4.3pp

FCF margin10.6%+2.5pp

Returns & leverage

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Return on equity16.2%-9.3pp

Debt / equity0×0.0×

Where this comes from

Reported directly by Pultegroup in its filing.

Tagged under the XBRL concept us-gaap:NotesPayable.

The official record: Pultegroup’s 10-Q, filed July 26, 2018, on SEC EDGAR. View the filing →

Questions, answered.

What does consolidation — notes payable mean?: The removal of internal debt notes between business segments to ensure consolidated debt reflects only external borrowing.
How do you interpret consolidation — notes payable?: Changes reflect shifts in how the company manages internal financing and capital structure between its business units.
How does consolidation — notes payable compare across companies?: Standard for any large organization with internal intercompany lending arrangements.