10-Q Filing

MILLROSE PROPERTIES, INC. CIK: 2017206 Q1 2025

Filing Information

Form Type	10-Q
Accession Number	`0000950170-25-071540`
Period End Date	20250331
Filing Date	20250514
Fiscal Year	2025
Fiscal Period	Q1
XBRL Instance	ck0002017206-20250331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 50 Cash Flow Statement 88 Stockholders Equity 36

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Homesite inventory and other related assets	`HomesiteInventoryAndOtherRelatedAssets`	$7.00B	USD	Point-in-time
Homesite inventory and other related assets	`HomesiteInventoryAndOtherRelatedAssets`	$7.00B	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Land and land other development	`LandAndLandOtherDevelopment`	$2.98B	USD	Point-in-time
Land and land other development	`LandAndLandOtherDevelopment`	$2.98B	USD	Point-in-time
Finished homesites	`FinishedHomesites`	$2.49B	USD	Point-in-time
Finished homesites	`FinishedHomesites`	$2.49B	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total inventories	`InventoryNet`	$5.47B	USD	Point-in-time
Total inventories	`InventoryNet`	$5.47B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Total inventories	`InventoryNet`	$7.00B	USD	Point-in-time
Total inventories	`InventoryNet`	$7.00B	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$89.52M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$89.52M	USD	Point-in-time
Option fee receivables	`OptionFeeReceivables`	$47.21M	USD	Point-in-time
Option fee receivables	`OptionFeeReceivables`	$47.21M	USD	Point-in-time
Other assets	`OtherAssets`	$16.70M	USD	Point-in-time
Other assets	`OtherAssets`	$16.70M	USD	Point-in-time
Total assets	`Assets`	$7.15B	USD	Point-in-time
Total assets	`Assets`	$7.15B	USD	Point-in-time
Total assets	`Assets`	$5.47B	USD	Point-in-time
Total assets	`Assets`	$5.47B	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$282.73M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$282.73M	USD	Point-in-time
Builder deposits	`BuilderDepositsLiability`	$684.59M	USD	Point-in-time
Builder deposits	`BuilderDepositsLiability`	$684.59M	USD	Point-in-time
Debt obligations	`DebtLongtermAndShorttermCombinedAmount`	$24.19M	USD	Point-in-time
Debt obligations	`DebtLongtermAndShorttermCombinedAmount`	$24.19M	USD	Point-in-time
Debt obligations	`DebtLongtermAndShorttermCombinedAmount`	$350.00M	USD	Point-in-time
Debt obligations	`DebtLongtermAndShorttermCombinedAmount`	$350.00M	USD	Point-in-time
Development guarantee holdback liability	`DevelopmentGuaranteeHoldbackLiability`	$100.00M	USD	Point-in-time
Development guarantee holdback liability	`DevelopmentGuaranteeHoldbackLiability`	$100.00M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$56.89M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$56.89M	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$85.02M	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$85.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$306.92M	USD	Point-in-time
Total liabilities	`Liabilities`	$306.92M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.28B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.28B	USD	Point-in-time
Commitments and contingencies (See Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (See Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (See Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (See Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 shares authorized, 0 shares issued at March 31, 2025	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 shares authorized, 0 shares issued at March 31, 2025	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 shares authorized, 0 shares issued at March 31, 2025	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 shares authorized, 0 shares issued at March 31, 2025	`PreferredStockValue`	-	USD	Point-in-time
Predecessor equity	`OtherPartnersCapital`	$5.16B	USD	Point-in-time
Predecessor equity	`OtherPartnersCapital`	$5.16B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.87B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.87B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.69M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.69M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.24B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.24B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.16B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.16B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.88B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.88B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.46B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.46B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.47B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$5.47B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$7.15B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$7.15B	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Public shares outstanding	`SharesOutstanding`	0.00	shares	Point-in-time
Public shares outstanding	`SharesOutstanding`	0.00	shares	Point-in-time
Option fee revenues and other related income	`Revenues`	$82.70M	USD	1 Quarter
Option fee revenues and other related income	`Revenues`	$82.70M	USD	1 Quarter
Management fee expense	`ManagementFeeExpense`	$12.10M	USD	1 Quarter
Management fee expense	`ManagementFeeExpense`	$12.10M	USD	1 Quarter
Sales, general, and administrative expenses from pre-spin periods	`SellingGeneralAndAdministrativeExpenseFromPreSpinPeriod`	$56.99M	USD	1 Quarter
Sales, general, and administrative expenses from pre-spin periods	`SellingGeneralAndAdministrativeExpenseFromPreSpinPeriod`	$56.99M	USD	1 Quarter
Sales, general, and administrative expenses from pre-spin periods	`SellingGeneralAndAdministrativeExpenseFromPreSpinPeriod`	$24.96M	USD	1 Quarter
Sales, general, and administrative expenses from pre-spin periods	`SellingGeneralAndAdministrativeExpenseFromPreSpinPeriod`	$24.96M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$37.06M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$37.06M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$56.99M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$56.99M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-56.99M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-56.99M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$45.63M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$45.63M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.09M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.09M	USD	1 Quarter
Interest expense	`InterestExpenseNonoperating`	$2.54M	USD	1 Quarter
Interest expense	`InterestExpenseNonoperating`	$2.54M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.45M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.45M	USD	1 Quarter
Net income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$44.19M	USD	1 Quarter
Net income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$44.19M	USD	1 Quarter
Net income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-56.99M	USD	1 Quarter
Net income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-56.99M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.38M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.38M	USD	1 Quarter
Net income (Loss)	`NetIncomeLoss`	$-56.99M	USD	1 Quarter
Net income (Loss)	`NetIncomeLoss`	$-56.99M	USD	1 Quarter
Net income (Loss)	`NetIncomeLoss`	$39.81M	USD	1 Quarter
Net income (Loss)	`NetIncomeLoss`	$39.81M	USD	1 Quarter
Adjustment for expenses from pre-spin periods	`AdjustmentForExpensesFromPreSpinPeriods`	$24.96M	USD	1 Quarter
Adjustment for expenses from pre-spin periods	`AdjustmentForExpensesFromPreSpinPeriods`	$24.96M	USD	1 Quarter
Net income attributable to Millrose Properties, Inc. Common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-56.99M	USD	1 Quarter
Net income attributable to Millrose Properties, Inc. Common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-56.99M	USD	1 Quarter
Net income attributable to Millrose Properties, Inc. Common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$64.77M	USD	1 Quarter
Net income attributable to Millrose Properties, Inc. Common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$64.77M	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.39	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.39	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$0.39	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$0.39	USD	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	166.00M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	166.00M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	166.00M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	166.00M	shares	1 Quarter

Cash Flow Statement 88 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-56.99M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-56.99M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$39.81M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$39.81M	USD	1 Quarter
Interest paid-in-kind	`OperatingInterestPaidReveivedInKind`	$2.62M	USD	1 Quarter
Interest paid-in-kind	`OperatingInterestPaidReveivedInKind`	$2.62M	USD	1 Quarter
Sales, general, and administrative expenses from pre-spin periods	`NetAdjustmentsForExpensesFromPre-SpinPeriods`	$24.96M	USD	1 Quarter
Sales, general, and administrative expenses from pre-spin periods	`NetAdjustmentsForExpensesFromPre-SpinPeriods`	$24.96M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$7.16M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$7.16M	USD	1 Quarter
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$15.00K	USD	1 Quarter
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$15.00K	USD	1 Quarter
Amortization of debt financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$157.00K	USD	1 Quarter
Amortization of debt financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$157.00K	USD	1 Quarter
Land inventory	`IncreaseDecreaseInInventories`	$-232.17M	USD	1 Quarter
Land inventory	`IncreaseDecreaseInInventories`	$-232.17M	USD	1 Quarter
Option fee receivables	`IncreaseDecreaseInEarnestMoneyDepositsOutstanding`	$47.21M	USD	1 Quarter
Option fee receivables	`IncreaseDecreaseInEarnestMoneyDepositsOutstanding`	$47.21M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$6.12M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$6.12M	USD	1 Quarter
Deferred tax liabilities	`IncreaseDecreaseInDeferredLiabilities`	$65.00K	USD	1 Quarter
Deferred tax liabilities	`IncreaseDecreaseInDeferredLiabilities`	$65.00K	USD	1 Quarter
Net cash flows from (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$21.29M	USD	1 Quarter
Net cash flows from (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$21.29M	USD	1 Quarter
Net cash flows from (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$182.36M	USD	1 Quarter
Net cash flows from (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$182.36M	USD	1 Quarter
Option deposits from Lennar, Spin-Off	`ProceedsFromDepositsOnRealEstateSales`	$584.85M	USD	1 Quarter
Option deposits from Lennar, Spin-Off	`ProceedsFromDepositsOnRealEstateSales`	$584.85M	USD	1 Quarter
Purchase of Rausch land assets	`PaymentsToAcquireLand`	$858.94M	USD	1 Quarter
Purchase of Rausch land assets	`PaymentsToAcquireLand`	$858.94M	USD	1 Quarter
Sales of homesite inventory and other related assets	`InvestmentInHomesiteInventoriesAndOtherRelatedAssets`	$978.48M	USD	1 Quarter
Sales of homesite inventory and other related assets	`InvestmentInHomesiteInventoriesAndOtherRelatedAssets`	$978.48M	USD	1 Quarter
Investment in homesite inventory and other related assets	`TakedownsOfHomesiteInventoriesAndOtherRelatedAssets`	$646.36M	USD	1 Quarter
Investment in homesite inventory and other related assets	`TakedownsOfHomesiteInventoriesAndOtherRelatedAssets`	$646.36M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-606.21M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-606.21M	USD	1 Quarter
Cash contribution from Lennar, Spin-Off	`CashContributionFromLennarSpinOff`	$415.15M	USD	1 Quarter
Cash contribution from Lennar, Spin-Off	`CashContributionFromLennarSpinOff`	$415.15M	USD	1 Quarter
Principal payments on debt	`PaymentsOfDebtIssuanceCosts`	$16.08M	USD	1 Quarter
Principal payments on debt	`PaymentsOfDebtIssuanceCosts`	$16.08M	USD	1 Quarter
Net transfers to Predecessor	`NetTransfersToPredecessor`	$-166.28M	USD	1 Quarter
Net transfers to Predecessor	`NetTransfersToPredecessor`	$-166.28M	USD	1 Quarter
Payments for Spin-Off deal costs	`PaymentsForSpinOffDealCosts`	$75.13M	USD	1 Quarter
Payments for Spin-Off deal costs	`PaymentsForSpinOffDealCosts`	$75.13M	USD	1 Quarter
Financing cost payments for revolving credit facility	`FinancingCostPaymentsForRevolvingCreditFacility`	$9.58M	USD	1 Quarter
Financing cost payments for revolving credit facility	`FinancingCostPaymentsForRevolvingCreditFacility`	$9.58M	USD	1 Quarter
Proceeds from revolving credit facility borrowings	`ProceedsFromLongTermLinesOfCredit`	$450.00M	USD	1 Quarter
Proceeds from revolving credit facility borrowings	`ProceedsFromLongTermLinesOfCredit`	$450.00M	USD	1 Quarter
Repayments of revolving credit facility borrowings	`RepaymentsOfLongTermLinesOfCredit`	$100.00M	USD	1 Quarter
Repayments of revolving credit facility borrowings	`RepaymentsOfLongTermLinesOfCredit`	$100.00M	USD	1 Quarter
Payment of seller notes	`RepaymentsOfNotesPayable`	$6.00M	USD	1 Quarter
Payment of seller notes	`RepaymentsOfNotesPayable`	$6.00M	USD	1 Quarter
Net cash flows from (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$674.44M	USD	1 Quarter
Net cash flows from (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$674.44M	USD	1 Quarter
Net cash flows from (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-182.36M	USD	1 Quarter
Net cash flows from (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-182.36M	USD	1 Quarter
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$89.52M	USD	1 Quarter
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$89.52M	USD	1 Quarter
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$89.52M	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$89.52M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$89.52M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$89.52M	USD	Point-in-time
Homesite inventory contributed by Lennar, net of option deposits	`HomesiteInventoryContributedByLennarNetOfOptionDeposits`	$4.91B	USD	1 Quarter
Homesite inventory contributed by Lennar, net of option deposits	`HomesiteInventoryContributedByLennarNetOfOptionDeposits`	$4.91B	USD	1 Quarter
Decrease in deferred tax liabilities	`DecreaseInDeferredTaxLiabilitiesNonCash`	$59.84M	USD	1 Quarter
Decrease in deferred tax liabilities	`DecreaseInDeferredTaxLiabilitiesNonCash`	$59.84M	USD	1 Quarter
Liabilities for transaction deal costs and seller notes	`LiabilitiesForTransactionDealCostsAndSellerNotes`	$-96.95M	USD	1 Quarter
Liabilities for transaction deal costs and seller notes	`LiabilitiesForTransactionDealCostsAndSellerNotes`	$-96.95M	USD	1 Quarter
Common stock issued, Spin-Off	`NonCashImpactsOfCommonStockIssuedSpinOff`	$-1.66M	USD	1 Quarter
Common stock issued, Spin-Off	`NonCashImpactsOfCommonStockIssuedSpinOff`	$-1.66M	USD	1 Quarter
Non-cash increase in additional paid-in-capital, Spin-Off	`NonCashIncreaseInAdditionalPaidInCapitalSpinOff`	$-4.87B	USD	1 Quarter
Non-cash increase in additional paid-in-capital, Spin-Off	`NonCashIncreaseInAdditionalPaidInCapitalSpinOff`	$-4.87B	USD	1 Quarter
Reversal of Predecessor equity at Spin-Off	`ReversalOfPredecessorEquityAtSpinOff`	$5.16B	USD	1 Quarter
Reversal of Predecessor equity at Spin-Off	`ReversalOfPredecessorEquityAtSpinOff`	$5.16B	USD	1 Quarter
Option deposits	`OptionDepositNonCash`	$-90.26M	USD	1 Quarter
Option deposits	`OptionDepositNonCash`	$-90.26M	USD	1 Quarter
Development guarantee holdback liability	`DevelopmentGuaranteesHoldbackLiabilities`	$-100.00M	USD	1 Quarter
Development guarantee holdback liability	`DevelopmentGuaranteesHoldbackLiabilities`	$-100.00M	USD	1 Quarter
Increase in deferred tax liabilities	`IncreaseInDeferredTaxLiabilitiesNonCash`	$-116.66M	USD	1 Quarter
Increase in deferred tax liabilities	`IncreaseInDeferredTaxLiabilitiesNonCash`	$-116.66M	USD	1 Quarter
Dividends declared but not paid	`DividendsDeclaredButNotPaid`	$63.08M	USD	1 Quarter
Dividends declared but not paid	`DividendsDeclaredButNotPaid`	$63.08M	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$571.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$571.00K	USD	1 Quarter

Stockholders Equity 36 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, Shares	`SharesOutstanding`	0.00	shares	Point-in-time
Beginning balance, Shares	`SharesOutstanding`	0.00	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$4.24B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$4.24B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$5.16B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$5.16B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$5.88B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$5.88B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$4.46B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$4.46B	USD	Point-in-time
Net Income (Loss)	`NetIncomeLoss`	$-56.99M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-56.99M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$39.81M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$39.81M	USD	1 Quarter
Adjustment for expenses from pre-spin periods	`AdjustmentForExpensesFromPreSpinPeriods`	$24.96M	USD	1 Quarter
Adjustment for expenses from pre-spin periods	`AdjustmentForExpensesFromPreSpinPeriods`	$24.96M	USD	1 Quarter
Contributions from Lennar, Spin-Off	`AdjustmentsToAdditionalPaidInCapitalContributionsFromSpin-Off`	$5.87B	USD	1 Quarter
Contributions from Lennar, Spin-Off	`AdjustmentsToAdditionalPaidInCapitalContributionsFromSpin-Off`	$5.87B	USD	1 Quarter
Reversal of predecessor equity	`ReversalOfPredecessorEquity`	$-5.16B	USD	1 Quarter
Reversal of predecessor equity	`ReversalOfPredecessorEquity`	$-5.16B	USD	1 Quarter
Dividends declared ($0.38 per share on the Company's Class A common stock and Class B common stock, payable on April 15, 2025)	`Dividends`	$63.08M	USD	1 Quarter
Dividends declared ($0.38 per share on the Company's Class A common stock and Class B common stock, payable on April 15, 2025)	`Dividends`	$63.08M	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$7.16M	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$7.16M	USD	1 Quarter
Contributions to Predecessor	`ContributionsToPredecessor`	$-166.28M	USD	1 Quarter
Contributions to Predecessor	`ContributionsToPredecessor`	$-166.28M	USD	1 Quarter
Ending balance, Shares	`SharesOutstanding`	0.00	shares	Point-in-time
Ending balance, Shares	`SharesOutstanding`	0.00	shares	Point-in-time
Ending balance	`StockholdersEquity`	$4.24B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$4.24B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$5.16B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$5.16B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$5.88B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$5.88B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$4.46B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$4.46B	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.