Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.22.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Commissions and other sales costs $ (323,266) $ (285,403) $ (287,901)
General and administrative expenses (192,984) (181,449) (159,020)
Interest expense (41) (318) (2,177)
Other income, net 2,714 4,864 6,662
Loss on early extinguishment of debt 0 (18,188) 0
Earnings before income taxes 1,289,318 954,834 533,566
Provision for income taxes (297,126) (217,390) (110,091)
Net earnings $ 992,192 $ 737,444 $ 423,475
Earnings per common share:      
Basic (in dollars per share) $ 27.04 $ 19.61 $ 11.23
Diluted (in dollars per share) $ 26.74 $ 19.29 $ 11.00
Weighted average number of shares:      
Basic (in shares) 36,694 37,610 37,718
Diluted (in shares) 37,101 38,233 38,484
Homebuilding      
Revenue $ 6,268,727 $ 5,120,110 $ 4,482,120
Cost of goods and services sold (4,484,126) (3,702,816) (3,522,506)
Total closing gross profit 1,784,601 1,417,294 959,614
Home closings      
Revenue 6,207,498 5,094,873 4,464,389
Cost of goods and services sold (4,434,480) (3,676,496) (3,483,981)
Total closing gross profit 1,773,018 1,418,377 980,408
Land      
Revenue 61,229 25,237 17,731
Cost of goods and services sold (49,646) (26,320) (38,525)
Total closing gross profit 11,583 (1,083) (20,794)
Financial Service      
Revenue 23,476 21,207 19,097
Cost of revenue (11,133) (9,182) (7,797)
Total closing gross profit 18,294 18,034 16,388
Earnings from financial services unconsolidated entities and other, net $ 5,951 $ 6,009 $ 5,088