Meritage Homes Corp: (NYSE: MTH)

Zacks Rank: 1-Strong Buy

Balance Sheet

Annual Balance Sheet

Fiscal Year End for MERITAGE HOMES falls in the month of December.

All items in Millions except Per Share data.

	12/31/12	12/31/11	12/31/10	12/31/09	12/31/08
Assets
Cash & Equivalents	209	186	113	266	206
Receivables	20	15	21	115	143
Notes Receivable	0	0	0	0	0
Inventories	0	0	0	0	0
Other Current Assets	41	32	24	20	68
Total Current Assets	271	232	158	401	416
Net Property & Equipment	1,129	829	754	701	888
Investments & Advances	98	159	310	138	17
Other Non-Current Assets	0	0	0	0	0
Deferred Charges	78	0	0	0	0
Intangibles	0	2	2	4	5
Deposits & Other Assets	0	0	0	0	0
Total Assets	1,576	1,221	1,225	1,243	1,326

Liabilities & Shareholders Equity	12/31/12	12/31/11	12/31/10	12/31/09	12/31/08
Notes Payable	0	0	0	0	0
Accounts Payable	50	38	24	30	32
Current Portion Long-Term Debt	0	0	0	0	0
Current Portion Capital Leases	0	0	0	0	0
Accrued Expenses	96	79	88	103	125
Income Taxes Payable	0	0	0	0	0
Other Current Liabilities	12	9	7	10	8
Total Current Liabilities	159	126	118	143	165
Mortgages	0	0	0	0	0
Deferred Taxes/Income	0	0	0	0	0
Convertible Debt	0	0	0	0	0
Long-Term Debt	723	606	606	605	629
Non-Current Capital Leases	0	0	0	0	0
Other Non-Current Liabilities	0	0	1	9	5
Minority Interest (Liabilities)	0	0	0	0	0
Total Liabilities	881	732	725	757	799

Shareholders Equity	12/31/12	12/31/11	12/31/10	12/31/09	12/31/08
Preferred Stock	0	0	0	0	0
Common Stock (Par)	0	0	0	0	0
Capital Surplus	390	479	469	461	437
Retained Earnings	304	198	220	212	279
Other Equity	0	0	0	0	0
Treasury Stock	0	189	189	189	189
Total Shareholder's Equity	694	489	500	485	527
Total Liabilities & Shareholder's Equity	1,576	1,221	1,225	1,243	1,326
Total Common Equity	694	489	500	485	527
Shares Outstanding	35.50	32.40	32.10	31.70	30.60
Book Value Per Share	19.56	15.09	15.58	15.31	17.23

Fiscal Year End for MERITAGE HOMES falls in the month of December.

All items in Millions except Per Share data.

	03/31/13	12/31/12	09/30/12	06/30/12	03/31/12
Assets
Cash & Equivalents	364	209	320	101	103
Receivables	24	20	17	16	15
Notes Receivable	0	0	0	0	0
Inventories	0	0	0	0	0
Other Current Assets	40	41	39	33	30
Total Current Assets	428	271	376	149	148
Net Property & Equipment	1,168	1,129	1,019	969	883
Investments & Advances	100	98	79	116	185
Other Non-Current Assets	0	0	0	0	0
Deferred Charges	74	78	8	8	0
Intangibles	0	0	0	1	2
Deposits & Other Assets	0	0	0	0	0
Total Assets	1,771	1,576	1,481	1,244	1,218

Liabilities & Shareholders Equity	03/31/13	12/31/12	09/30/12	06/30/12	03/31/12
Notes Payable	0	0	0	0	0
Accounts Payable	60	50	52	54	39
Current Portion Long-Term Debt	0	0	0	0	0
Current Portion Capital Leases	0	0	0	0	0
Accrued Expenses	100	96	96	85	73
Income Taxes Payable	0	0	0	0	0
Other Current Liabilities	18	12	14	13	11
Total Current Liabilities	178	159	162	151	123
Mortgages	0	0	0	0	0
Deferred Taxes/Income	0	0	0	0	0
Convertible Debt	0	0	0	0	0
Long-Term Debt	881	723	723	596	607
Non-Current Capital Leases	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	1
Minority Interest (Liabilities)	0	0	0	0	0
Total Liabilities	1,059	881	885	747	731

Shareholders Equity	03/31/13	12/31/12	09/30/12	06/30/12	03/31/12
Preferred Stock	0	0	0	0	0
Common Stock (Par)	0	0	0	0	0
Capital Surplus	396	390	387	483	482
Retained Earnings	316	304	208	202	194
Other Equity	0	0	0	0	0
Treasury Stock	0	0	0	189	189
Total Shareholder's Equity	712	694	596	497	487
Total Liabilities & Shareholder's Equity	1,771	1,576	1,481	1,244	1,218
Total Common Equity	712	694	596	497	487
Shares Outstanding	35.70	35.50	35.40	32.70	32.70
Book Value Per Share	19.93	19.56	16.84	15.19	14.89