普得集团(帕尔迪) 2026年季度报告

PART IFINANCIAL INFORMATION Item 1Financial Statements Condensed Consolidated Balance Sheets at March 31, 2026 and December 31, 2025Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025Consolidated Statements of Shareholders' Equity for the three months ended March 31, 2026 and 2025Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025Notes to Condensed Consolidated Financial StatementsItem 2Management's Discussion and Analysis of Financial Condition and Results of OperationsItem 3Quantitative and Qualitative Disclosures About Market RiskItem 4Controls and ProceduresPART IIOTHER INFORMATIONItem 1Legal ProceedingsItem 1ARisk FactorsItem 2Unregistered Sales of Equity Securities and Use of ProceedsItem 5Other InformationItem 6ExhibitsSignatures 1. Basis of presentation PulteGroup, Inc. is one of the largest homebuilders in the United States ("U.S."), and our common shares trade on the New York StockExchange under the ticker symbol “PHM”. Unless the context otherwise requires, the terms "PulteGroup," the "Company," "we," "us," and"our" used herein refer to PulteGroup, Inc. and its subsidiaries. While our subsidiaries engage primarily in the homebuilding business, we The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally acceptedaccounting principles ("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 U.S. GAAP for complete financial statements. In theopinion of management, all adjustments (consisting of normal, recurring adjustments) considered necessary for a fair presentation have been Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affectthe amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Subsequent events We evaluated subsequent events up until the time the financial statements were filed with the Securities and Exchange Commission (the"SEC"). Other income, net Other income, net consists of the following ($000’s omitted): Revenue recognition Home sale revenues - Home sale revenues and related profit are generally recognized when title to and possession of the home are transferredto the buyer, and our performance obligation to deliver the agreed-upon home is generally satisfied at the home closing date. Home salecontract assets consist of cash from home closings held in escrow for our benefit, typically for less than five days, which are considereddeposits in-transit and classified as cash. Contract liabilities include customer deposits related to sold but undelivered homes, which totaled Land sale and other revenues - We periodically elect to sell parcels of land to third parties in the event such assets no longer fit into ourstrategic operating plans or are zoned for commercial or other development. Land sales are generally outright sales of specified land parcelswith cash consideration due on the closing date, which is generally when performance obligations are satisfied. Other revenues related to our Financial Services revenues - Loan origination fees, commitment fees, and discount points are recognized upon loan origination. Expectedgains and losses from the sale of residential mortgage loans and their related servicing rights are included in the measurement of interest ratelock commitments ("IRLCs") that are accounted for at fair value through Financial Services revenues at the time of commitment. Subsequentchanges in the fair value of IRLCs and residential mortgage loans available-for-sale are reflected in Financial Services revenues as they Revenues associated with our title operations are recognized as closing services are rendered and title insurance policies are issued, both ofwhich generally occur as each home is closed. Insurance agency commissions relate to commissions on home and other insurance policiesplaced with third-party carriers through various agency channels. Our performance obligations for policy renewal commissions are Residential mortgage loans available-for-sale Substantially all of the loans originated by us are sold in the secondary mortgage market within a short period of time after origination,generally within 30 days. At March31, 2026 and December31, 2025, residential mortgage loans available-for-sale had an aggregate fairvalue of $509.3 million and $613.7 million, respectively, and an aggregate outstanding principal balance of $523.2 million and $621.6million, respectively. These changes in fair value were substantially offset by changes in fair value of the corresponding derivative Derivative instruments and hedging activities We are party to IRLCs with customers resulting from our mortgage origination operation