Quarterly report pursuant to Section 13 or 15(d)

Unaudited Consolidated Income Statements

v3.22.2
Unaudited Consolidated Income Statements - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue $ 1,412,381 $ 1,277,599 $ 2,699,315 $ 2,361,380
Cost of closings (966,992) (932,630) (1,865,484) (1,749,209)
Gross profit 445,389 344,969 833,831 612,171
Commissions and other sales costs (69,383) (73,889) (134,923) (141,633)
General and administrative expenses (47,932) (43,156) (87,927) (81,105)
Interest expensed 0 (77) (41) (167)
Other (expense)/income, net (458) 1,377 (775) 2,175
Loss on early extinguishment of debt 0 (18,188) 0 (18,188)
Earnings before income taxes 331,695 215,651 617,578 381,628
Provision for income taxes (81,611) (48,262) (150,240) (82,396)
Net earnings $ 250,084 $ 167,389 $ 467,338 $ 299,232
Earnings per common share:        
Basic earnings per share (in dollars per share) $ 6.82 $ 4.43 $ 12.69 $ 7.93
Diluted earnings per share (in dollars per share) $ 6.77 $ 4.36 $ 12.55 $ 7.80
Weighted average number of shares:        
Basic weighted average number of shares outstanding (in shares) 36,647 37,818 36,820 37,731
Diluted (in shares) 36,962 38,377 37,239 38,357
Home Building [Member]        
Revenue $ 1,408,947 $ 1,264,643 $ 2,654,403 $ 2,344,625
Cost of closings (964,208) (919,342) (1,832,015) (1,732,669)
Gross profit 444,739 345,301 822,388 611,956
Land [Member]        
Revenue 3,434 12,956 44,912 16,755
Cost of closings (2,784) (13,288) (33,469) (16,540)
Gross profit 650 (332) 11,443 215
Financial Service [Member]        
Revenue 5,139 5,665 9,811 10,416
Gross profit 4,079 4,615 7,413 8,375
Expense (2,581) (2,367) (5,093) (4,538)
Earnings from financial services unconsolidated entities and other, net $ 1,521 $ 1,317 $ 2,695 $ 2,497