Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONSOLIDATED INCOME STATEMENTS

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UNAUDITED CONSOLIDATED INCOME STATEMENTS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Homebuilding:    
Home closing revenue $ 728,532 $ 660,617
Land closing revenue 14,032 12,155
Total closing revenue 742,564 672,772
Cost of home closings (604,202) (553,349)
Cost of land closings (15,242) (9,660)
Total cost of closings (619,444) (563,009)
Home closing gross profit 124,330 107,268
Land closing gross (loss)/profit (1,210) 2,495
Total closing gross profit 123,120 109,763
Financial Services:    
Revenue 3,048 2,944
Expense (1,484) (1,379)
Earnings from financial services unconsolidated entities and other, net 2,656 2,725
Financial services profit 4,220 4,290
Commissions and other sales costs (52,752) (48,320)
General and administrative expenses (30,893) (29,622)
(Loss)/earnings from other unconsolidated entities, net (46) 373
Interest expense (136) (825)
Other income, net 5,371 1,110
Earnings before income taxes 48,884 36,769
Provision for income taxes (5,010) (13,197)
Net earnings $ 43,874 $ 23,572
Earnings per common share:    
Basic (in dollars per share) $ 1.08 $ 0.59
Diluted (in dollars per share) [1] $ 1.07 $ 0.56
Weighted average number of shares:    
Basic (in shares) 40,488 40,178
Diluted (in shares) 41,140 42,808
[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 based on the number of days our Convertible Notes were outstanding during the period. All of the Convertible Notes were retired in the second half of 2017.