Basis of Presentation and Consolidation — The
accompanying unaudited Condensed and Consolidated Financial
Statements have been prepared in accordance with accounting
principles generally accepted 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 and Combined Financial
Statements and accompanying Notes included in our 2013 Annual
Report on Form 10-K. In the Reorganization Transactions, TMHC
became the sole owner of the general partner of New TMM. As the
general partner of New TMM, we exercise exclusive and complete
control over New TMM. Consequently, for periods subsequent to
April 9, 2013, we consolidate New TMM and record a
non-controlling interest in our consolidated balance sheet for the
economic interests in New TMM, that are directly or indirectly held
by the Principal Equityholders or by members of management and the
Board of Directors. The consolidated financial statements for these
periods include the accounts of TMHC, TMM Holdings, New TMM, TMC,
Monarch and our consolidated subsidiaries, partnerships and other
entities for which we have a controlling financial interest, and of
variable interest entities in which we are deemed the primary
beneficiary. Intercompany balances and transactions have been
eliminated on consolidation. In the opinion of management, the
accompanying Condensed and Consolidated Financial Statements
include all adjustments 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 the full year.
Unless otherwise stated, amounts are shown in U.S. dollars. Assets
and liabilities recorded in foreign currencies are translated at
the exchange rate on the balance sheet date, and revenues and
expenses are translated at average rates of exchange prevailing
during the period. Translation adjustments resulting from this
process are recorded to accumulated other comprehensive income
(loss) in the consolidated balance sheets and consolidated
statements of stockholders’ equity.
Free historical financial statements for Taylor Morrison Home Corp.
See how revenue, income, cash flow, and balance sheet financials have changed over 43 quarters since 2014. Compare with TMHC stock chart to see long term trends.
Data imported from Taylor Morrison Home Corp SEC filings. Check original filings before making any investment decision.