Download PDF ReportTaylor Morrison is a privately-held construction and real estate development company that specializes in building residential homes. Taylor Morrison operates in the Southern, Southwestern, and Western regions of the United States. Taylor Morrison headquarters are located in Scottsdale, Arizona. Taylor Morrison was founded in 1936. Taylor Morrison priced its IPO at $22/share on April 9, 2013 to being trading on April 10, 2013 on the New York Stock Exchange under ticker symbol TMHC.
Taylor Morrison, Inc
Taylor Morrison, Inc is a publicly traded company as of April 2013.
Below is PrivCo's archived report for Taylor Morrison, Inc
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Business Summary
Recent News, Updates, and Analysis
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IPO Alert: TAYLOR MORRISON Prices IPO At $22 Per Share, Top Of $20-$22 Filing Range; IPO Upsized 20% To 28.6 Million Shares Offered; Only 2nd Homebuilder IPO In Nearly A Decade
Apr. 2013 7:02pm ET: Taylor Morrison, Inc. has just priced its IPO at $22 per share, at the top of its initial range of $20-$22 … Read More »
Overview & Corporate Organization
Basic Information
| Year Founded: | 1936 |
| Fiscal Year End: | 12/31 |
| 1YR Revenue Growth Rate: | 5.6% |
| 3YR Revenue Growth Rate (CAGR): | -8.7% |
| City: | Scottsdale |
| State/Province: | Arizona |
| Postal Code: | 85251 |
| Country: | United States |
| Phone: | 480-840-8100 |
| Website: | www.taylormorrison.com |
Industry Information
Industry Codes
| PICS™: | 300114™ |
| NAICS: | 23, 23611, 531 |
| SIC: | 15, 1522, 16, 17, 65 |
PrivCo Industries (Sector > Industry > Sub-Industry)
| Construction & Real Estate > Construction > Residential Construction |
The PrivCo Industry Classification System™ (PICS) is our proprietary, modernized industry classification system, geared especially toward privately-held companies and including newer emerging sub-industries that are not reflected in other outdated industry classification systems, such as SIC and NAICS.
Ownership
PrivCo's Ownership table displays who owns Taylor Morrison, Inc, including owner name, each type of owner (whether family, individual, private equity firm, etc.)
| Owner Name | Type of Owner | % Ownership Stake |
| Oaktree Capital Management, L.P. | Private Equity | 49.1% |
| TPG Capital LP | Private Equity | 49.1% |
| JH Investments Inc. | Other Investment Firm |
Charts, Financials, and Statistics (Table Format)
Below are Taylor Morrison, Inc financials and other business metrics displayed in table format.
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Export All Taylor Morrison, Inc Financials To Excel
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| Income Statement | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
| Revenues | $1,370,187,000 | $1,297,867,000 | $1,262,464,000 | $1,800,000,000 | $2,477,000,000 | $2,183,000,000 |
| Cost Of Home Closings | $1,066,425,000 | $1,003,172,000 | $1,003,694,000 | |||
| Cost Of Land Closings | $15,716,000 | $6,028,000 | $17,001,000 | |||
| Inventory Impairments | $0 | $4,054,000 | $78,241,000 | |||
| Mortgage Operations Expenses | $8,313,000 | $7,246,000 | $6,269,000 | |||
| Total Cost Of Revenues | $1,090,454,000 | $1,020,500,000 | $1,105,205,000 | |||
| Operating Gross Margin | $279,733,000 | $277,367,000 | $157,259,000 | |||
| Sales, Commissions And Other Marketing Costs | $76,442,000 | $85,141,000 | $100,534,000 | |||
| General And Administrative Expenses | $68,626,000 | $66,232,000 | $71,300,000 | |||
| Equity In Net Income Of Unconsolidated Entities | $8,050,000 | $5,319,000 | $347,000 | |||
| Interest (Income) Expense - Net | $2,926,000 | $40,238,000 | $20,732,000 | |||
| Transaction Expense | $39,442,000 | |||||
| Indemnification Expense | $12,850,000 | |||||
| Other (Income) Expense, Net | $8,350,000 | $2,351,000 | $1,260,000 | |||
| Income (Loss) Before Income Taxes | $101,699,000 | $88,724,000 | $36,220,000 | |||
| Income Tax Provision (Benefit) | $24,912,000 | $1,878,000 | $35,396,000 | |||
| Net Income (Loss) | $76,787,000 | $90,602,000 | $824,000 | |||
| Loss (Income) Attributable To Non-Controlling Interests | $5,300,000 | $3,235,000 | $5,138,000 | |||
| Net Income (Loss) Attributable To Owners | $71,487,000 | $87,367,000 | $5,962,000 |
| Balance Sheet | 2011 | 2010 | 2009 |
| Cash And Cash Equivalents | $279,322,000 | $165,415,000 | $0 |
| Restricted Cash | $5,000,000 | $3,447,000 | $0 |
| Real Estate Inventory | $1,003,482,000 | $1,073,953,000 | $0 |
| Land Deposits | $13,565,000 | $6,006,000 | $0 |
| Loans Receivable, Net | $55,895,000 | $54,237,000 | $0 |
| Mortgage Receivables | $33,961,000 | $4,854,000 | $0 |
| Tax Indemnification Receivable | $122,871,000 | $0 | |
| Prepaid Expenses And Other Assets, Net | $50,253,000 | $51,774,000 | $0 |
| Other Receivables, Net | $53,109,000 | $118,720,000 | $0 |
| Investment In Unconsolidated Entities | $37,640,000 | $27,544,000 | $0 |
| Income Taxes Receivable | $0 | $4,734,000 | $0 |
| Deferred Tax Assets, Net | $0 | $5,844,000 | $0 |
| Property And Equipment, Net | $6,236,000 | $7,001,000 | $0 |
| Goodwill And Intangible Assets, Net | $9,733,000 | $3,792,000 | $0 |
| Total Assets | $1,671,067,000 | $1,527,321,000 | $0 |
| Accounts Payable | $64,843,000 | $46,680,000 | $0 |
| Accrued Expenses And Other Liabilities | $194,652,000 | $200,980,000 | $0 |
| Income Taxes Payable | $119,032,000 | $132,198,000 | $0 |
| Deferred Tax Liabilities, Net | $4,032,000 | $0 | |
| Customer Deposits | $60,193,000 | $76,164,000 | $0 |
| Mortgage Borrowings | $32,730,000 | $4,642,000 | $0 |
| Loans Payable And Other Borrowings | $78,623,000 | $101,191,000 | $0 |
| Long-Term Debt (Due To Related Party) | $488,397,000 | $0 | |
| Net Payable To The Predecessor Parent Company | $499,935,000 | $0 | |
| Total Liabilities | $1,042,502,000 | $1,061,790,000 | $0 |
| Net Owners' Equity | $649,209,000 | $463,211,000 | $0 |
| Accumulated Other Comprehensive Loss | $30,065,000 | $2,503,000 | $0 |
| Total Owners' Equity | $619,144,000 | $460,708,000 | $0 |
| Non-controlling Interests | $9,421,000 | $4,823,000 | $0 |
| Total Equity | $628,565,000 | $465,531,000 | $0 |
| Total Liabilities And Equity | $1,671,067,000 | $1,527,321,000 | $0 |
| Cash Flow Statement | 2011 | 2010 | 2009 |
| Net Income (Loss) | $76,787,000 | $90,602,000 | $824,000 |
| Equity In Net Income Of Unconsolidated Entities | $8,050,000 | $5,319,000 | $347,000 |
| Inventory Impairment Charges And Deposit Write-Offs | $0 | $4,054,000 | $78,241,000 |
| Loss On Disposal Of Property And Equipment | $0 | $0 | $625,000 |
| Distributions Of Earnings From Unconsolidated Entities | $15,287,000 | $4,558,000 | $2,405,000 |
| Depreciation And Amortization | $4,219,000 | $3,242,000 | $2,917,000 |
| Deferred Income Taxes | $11,253,000 | $61,000 | $2,049,000 |
| Real Estate Inventory And Land Deposits | $76,419,000 | $71,853,000 | $45,560,000 |
| Receivables, Prepaid Expenses, And Other Assets | $17,331,000 | $80,291,000 | $4,690,000 |
| Income Taxes Receivable | $0 | $70,448,000 | $1,087,000 |
| Customer Deposits | $15,040,000 | $3,246,000 | $1,088,000 |
| Accounts Payable, Accrued Expenses, And Other Liabilities | $3,077,000 | $2,585,000 | $60,638,000 |
| Income Taxes Payable | $347,000 | $23,213,000 | $63,089,000 |
| Net Cash Provided By (Used In) Operating Activities | $158,430,000 | $8,372,000 | $126,212,000 |
| Purchase Of Property And Equipment | $2,757,000 | $2,937,000 | $1,677,000 |
| Business Acquisitions | $0 | $0 | $3,877,000 |
| Decrease (Increase) In Restricted Cash | $1,574,000 | $51,616,000 | $49,889,000 |
| Investments Of Capital Into Unconsolidated Entities | $1,000,000 | $15,000 | $395,000 |
| Distributions Of Capital From Unconsolidated Entities | $0 | $2,301,000 | $1,044,000 |
| Net Cash (Used In) Provided By Investing Activities | $5,331,000 | $50,965,000 | $54,794,000 |
| Payments On Net Payable To Predecessor Parent Company | $3,000,000 | $270,873,000 | $420,777,000 |
| Borrowings On Net Payable To Predecessor Parent Company | $80,554,000 | $291,642,000 | $323,170,000 |
| Distributions To Non-Controlling Interests | $10,276,000 | $21,860,000 | $618,000 |
| Distributions To Predecessor Parent Company | $0 | $3,339,000 | $7,601,000 |
| Increase In Receivable From Predecessor Parent Company | $0 | $148,813,000 | $8,737,000 |
| Decrease In Receivable From Predecessor Parent Company | $8,560,000 | $21,053,000 | $4,894,000 |
| Capital Contributions | $58,800,000 | $0 | $0 |
| Net Borrowing On Line Of Credit Related To Mortgage Borrowings | $28,088,000 | $4,642,000 | $0 |
| Proceeds From Loans Payable And Other Borrowings | $0 | $60,202,000 | $0 |
| Repayments Of Loans Payable And Other Borrowings | $189,275,000 | $5,091,000 | $30,783,000 |
| Deferred Financing Costs | $2,751,000 | $0 | $0 |
| Net Cash (Used In) Provided By Financing Activities | $29,300,000 | $72,437,000 | $140,452,000 |
| Net (Decrease) Increase In Cash And Cash Equivalents | $113,907,000 | $23,617,000 | $48,439,000 |
| Cash And Cash Equivalents - Beginning Of Period | $460,841,000 | $189,032,000 | $237,471,000 |
| Cash And Cash Equivalents - End Of Period | $574,748,000 | $165,415,000 | $189,032,000 |
| Revenues Breakdown | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
| Land Closing Revenue | $24,296,000 | $12,116,000 | $24,967,000 | |||
| Mortgage Operations Revenue | $14,606,000 | $12,591,000 | $13,415,000 | |||
| Residential Units Sold | 2,327 | 2,570 | 3,347 | 5,421 | 5,340 | 2,900 |
Notes
| Financial Notes: | |
| * | Taylor Morrison, Inc fiscal year end: 12/31 |
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Charts, Financials, and Statistics (Graphs)
Below are Taylor Morrison, Inc financials and other business metrics displayed in table format.
(Copy and paste into spreadsheet or export all Taylor Morrison, Inc financials to Excel and create your own graphs.)
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Mergers & Acquisitions
PrivCo's M&A Activity table for Taylor Morrison, Inc displays the mergers and acquisitions involving Taylor Morrison, Inc, for example if Taylor Morrison, Inc acquired or was acquired by another entity, any leveraged buyout (LBO), etc.
| Date | Status | Target | Buyer | Deal Type | Price | |
| Details | Apr. 2011 | Completed | Taylor Morrison, Inc | TPG Capital LP Oaktree Capital Management, L.P. JH Investments Inc. | Acquisition | $955,000,000 |
| Details | Dec. 2012 | Completed | Darling Homes Inc. | Taylor Morrison, Inc | Acquisition | Unspecified |
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Public / Private History (PPH™)
Many private companies were once public or have attempted to go public in the past. Since mapping a private company's Public/Private History (PPH)™ can often be complicated and take time, we've created PrivCo's Public/Private History (PPH)™ Table to assist.
| Date | Deal Type | Action | Resulting Status | Valuation | Amount Raised | Public Ticker | |
| Details | Apr. 2013 | IPO | Final (Went Public) | Public1 | $2,568,488,244 | $600,012,000 | NYSE:TMHC |
Notes
| 1 | Taylor Morrison, Inc. raised $600,012,000 at a valuation of $2,568,488,244 by offering 28,572,000 shares at a price of $22. The total number of shares outstanding after the offering is 122,308,964. - Details → |
Supplemental Resources
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