Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Commissions and other sales costs $ (404,405) $ (409,069) $ (384,911)
General and administrative expenses (211,762) (230,856) (231,722)
Interest expense 0 0 0
Other income, net 44,145 45,156 47,948
Loss on early extinguishment of debt 0 (631) (907)
Earnings before income taxes 584,600 1,002,870 949,430
Provision for income taxes (131,587) (216,684) (210,682)
Net earnings $ 453,013 $ 786,186 $ 738,748
Earnings per common share:      
Basic (in dollars per share) $ 6.40 $ 10.85 $ 10.09
Diluted (in dollars per share) $ 6.35 $ 10.72 $ 9.96
Weighted average number of shares:      
Basic (in shares) 70,819 72,476 73,238
Diluted (in shares) 71,348 73,332 74,138
Homebuilding      
Total closing revenue $ 5,824,435 $ 6,363,872 $ 6,113,013
Cost of goods and services sold (4,686,431) (4,780,012) (4,606,457)
Total closing gross profit 1,138,004 1,583,860 1,506,556
Home closings      
Total closing revenue 5,763,597 6,341,546 6,056,784
Cost of goods and services sold (4,627,405) (4,761,703) (4,554,671)
Total closing gross profit 1,136,192 1,579,843 1,502,113
Land      
Total closing revenue 60,838 22,326 56,229
Cost of goods and services sold (59,026) (18,309) (51,786)
Total closing gross profit 1,812 4,017 4,443
Financial Service      
Total closing revenue 33,202 31,163 25,250
Cost of revenue (17,562) (14,657) (12,128)
Total closing gross profit 18,618 14,410 12,466
Earnings/(loss) from financial services unconsolidated entities and other, net $ 2,978 $ (2,096) $ (656)