Dream Finders Homes Inc
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 25, 2025
DFH$11.87-7.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities | |||
| Net and comprehensive income | $340,582 | $307,942 | $274,297 |
| Adjustments to reconcile net and comprehensive income to net cash (used in)/provided by operating activities | |||
| Depreciation and amortization | 10,227 | 10,651 | 11,252 |
| Amortization of lease right-of-use assets | 6,988 | 7,245 | 5,839 |
| Stock-based compensation | 18,788 | 14,098 | 6,796 |
| Deferred income tax benefit | (14,124) | (22,345) | (294) |
| Contingent consideration revaluation | 13,939 | 46,590 | 11,053 |
| Payments of contingent consideration | (34,872) | (12,331) | (4,461) |
| Other, net | (2,758) | (1,342) | 2,001 |
| Changes in operating assets and liabilities, net of effects of acquisition | |||
| Accounts receivable | (2,634) | 12,616 | (11,850) |
| Inventories | (148,019) | (61,623) | (311,523) |
| Lot deposits | (209,486) | 30,051 | (35,852) |
| Other assets | (25,603) | (1) | (2,868) |
| Mortgage loans held for sale | (188,662) | — | — |
| Accounts payable and accrued expenses | 41,629 | 22,750 | 65,748 |
| Customer deposits | (55,777) | 26,921 | (32,031) |
| Lease liabilities | (6,866) | (6,988) | (5,730) |
| Net cash (used in)/provided by operating activities | (256,648) | 374,234 | (27,623) |
| Cash flows from investing activities | |||
| Purchase of property and equipment | (25,345) | (4,781) | (5,545) |
| Proceeds from disposal of property and equipment | 32 | 367 | 152 |
| Investments in unconsolidated entities | (8,117) | (300) | (300) |
| Return of investments from unconsolidated entities | 884 | 230 | 449 |
| Payments for acquisitions, net of cash acquired | (178,123) | — | (280) |
| Deposits on pending acquisitions | (11,003) | — | — |
| Net cash used in investing activities | (221,672) | (4,484) | (5,524) |
| Cash flows from financing activities | |||
| Proceeds from senior unsecured notes | — | 300,000 | — |
| Proceeds from construction lines of credit | 861,386 | 5,410,000 | 11,023,077 |
| Repayments on construction lines of credit | (690,384) | (5,845,864) | (10,820,121) |
| Proceeds from mortgage warehouse facilities | 1,272,536 | — | — |
| Repayments on mortgage warehouse facilities | (1,092,063) | — | — |
| Payments of debt issuance costs | (7,343) | (11,385) | (5,539) |
| Redemption of Series B preferred units | — | (11,077) | — |
| Payments of preferred stock dividends | (13,500) | (13,238) | (13,688) |
| Payments for common stock withheld for taxes | (12,464) | (322) | — |
| Repurchases of common stock | (7,827) | — | — |
| Distributions to noncontrolling interests | (12,820) | (11,946) | (23,095) |
| Payments of contingent consideration | (27,832) | (32,592) | (13,679) |
| Net cash provided by/(used in) financing activities | 269,689 | (216,424) | 146,955 |
| Net decrease in cash, cash equivalents and restricted cash | (208,631) | 153,326 | 113,808 |
| Cash, cash equivalents and restricted cash at beginning of period | 548,456 | 395,130 | 281,322 |
| Cash, cash equivalents and restricted cash at end of period | $339,825 | $548,456 | $395,130 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Reconciliation of cash, cash equivalents and restricted cash | |||
| Cash and cash equivalents | $274,384 | $494,145 | $364,531 |
| Restricted cash | 65,441 | 54,311 | 30,599 |
| Total cash, cash equivalents and restricted cash | $339,825 | $548,456 | $395,130 |
| Supplemental disclosures of cash payments: | |||
| Cash paid for interest | $199,183 | $80,111 | $105,224 |
| Cash paid for income taxes, net of refunds(1) | $127,547 | $81,320 | $47,935 |
| Supplemental disclosures of noncash activities: | |||
| Noncash investing activities | |||
| Noncontrolling interest issued in business combination | $21,451 | $— | $— |
| Accrued cash consideration for business combination | 22,406 | — | — |
| Noncash financing activities | |||
| Contingent consideration | — | — | (1,841) |
| Total noncash investing and financing activities | $43,857 | $— | $(1,841) |
(1)Includes purchased tax credits of $12 million for the year ended December 31, 2024. Subsequently, in January 2025, the Company purchased approximately $37 million in tax credits related to 2024 income tax expense.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.