Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONSOLIDATED INCOME STATEMENTS

v3.4.0.3
UNAUDITED CONSOLIDATED INCOME STATEMENTS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Homebuilding:    
Home closing revenue $ 595,617 $ 517,273
Land closing revenue 2,149 1,439
Total closing revenue 597,766 518,712
Cost of home closings (492,270) (421,786)
Cost of land closings (1,700) (1,285)
Total cost of closings (493,970) (423,071)
Home closing gross profit 103,347 95,487
Land closing gross profit 449 154
Total closing gross profit 103,796 95,641
Financial Services:    
Revenue 2,500 2,535
Expense (1,246) (1,299)
Earnings from financial services unconsolidated entities and other, net 2,792 2,544
Financial services profit 4,046 3,780
Commissions and other sales costs (46,177) (41,612)
General and administrative expenses (29,618) (29,650)
Loss from other unconsolidated entities, net (157) (123)
Interest expense (3,288) (3,154)
Other income/(loss), net 283 415
Earnings before income taxes 28,885 25,297
Provision for income taxes (7,916) (8,897)
Net earnings $ 20,969 $ 16,400
Earnings per common share:    
Basic (in dollars per share) $ 0.53 $ 0.42
Diluted (in dollars per share) [1] $ 0.50 $ 0.40
Weighted average number of shares:    
Basic (in shares) 39,839 39,390
Diluted (in shares) 42,363 41,948
[1] In accordance with ASC 260-10, Earnings Per Share, ("ASC 260-10") we calculate the dilutive effect of convertible securities using the "if-converted" method.