Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v2.4.1.9
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Income Statement [Abstract]      
Home closing revenue $ 2,142,391us-gaap_HomeBuildingRevenue $ 1,783,389us-gaap_HomeBuildingRevenue $ 1,184,360us-gaap_HomeBuildingRevenue
Land closing revenue 27,252us-gaap_LandSales 31,270us-gaap_LandSales 9,314us-gaap_LandSales
Total closing revenue 2,169,643us-gaap_RealEstateRevenueNet 1,814,659us-gaap_RealEstateRevenueNet 1,193,674us-gaap_RealEstateRevenueNet
Cost of home closings (1,688,676)us-gaap_HomeBuildingCosts (1,391,475)us-gaap_HomeBuildingCosts (966,384)us-gaap_HomeBuildingCosts
Cost of land closings (28,350)us-gaap_CostsOfRealEstateServicesAndLandSales (26,766)us-gaap_CostsOfRealEstateServicesAndLandSales (9,091)us-gaap_CostsOfRealEstateServicesAndLandSales
Total cost of closings (1,717,026)us-gaap_CostOfRealEstateRevenue (1,418,241)us-gaap_CostOfRealEstateRevenue (975,475)us-gaap_CostOfRealEstateRevenue
Home Closing Gross Profit 453,715mth_HomeClosingGrossProfit 391,914mth_HomeClosingGrossProfit 217,976mth_HomeClosingGrossProfit
Land Closing Gross Loss Profit (1,098)mth_LandClosingGrossLossProfit 4,504mth_LandClosingGrossLossProfit 223mth_LandClosingGrossLossProfit
Total closing gross profit 452,617us-gaap_GrossProfit 396,418us-gaap_GrossProfit 218,199us-gaap_GrossProfit
Revenue 10,121us-gaap_FinancialServicesRevenue 6,037us-gaap_FinancialServicesRevenue 779us-gaap_FinancialServicesRevenue
Expense (4,812)us-gaap_FinancialServicesCosts (3,266)us-gaap_FinancialServicesCosts (981)us-gaap_FinancialServicesCosts
Earnings from financial services unconsolidated entities and other, net 10,869mth_EarningsFromFinancialServicesUnconsolidatedEntitiesAndOtherNet 13,183mth_EarningsFromFinancialServicesUnconsolidatedEntitiesAndOtherNet 10,457mth_EarningsFromFinancialServicesUnconsolidatedEntitiesAndOtherNet
Financial services profit 16,178mth_FinancialServicesOperatingProfit 15,954mth_FinancialServicesOperatingProfit 10,255mth_FinancialServicesOperatingProfit
Commissions and other sales costs (156,742)us-gaap_SellingAndMarketingExpense (126,716)us-gaap_SellingAndMarketingExpense (94,833)us-gaap_SellingAndMarketingExpense
General and administrative expenses (104,598)us-gaap_GeneralAndAdministrativeExpense (91,510)us-gaap_GeneralAndAdministrativeExpense (68,185)us-gaap_GeneralAndAdministrativeExpense
Loss from other unconsolidated entities, net (447)mth_EarningsFromOtherUnconsolidatedEntitiesNet (378)mth_EarningsFromOtherUnconsolidatedEntitiesNet (224)mth_EarningsFromOtherUnconsolidatedEntitiesNet
Interest expense (5,163)us-gaap_InterestExpense (15,092)us-gaap_InterestExpense (24,244)us-gaap_InterestExpense
Other income/(loss), net 6,572us-gaap_OtherNonoperatingIncomeExpense 2,792us-gaap_OtherNonoperatingIncomeExpense (6,342)us-gaap_OtherNonoperatingIncomeExpense
Loss on early extinguishment of debt 0us-gaap_GainsLossesOnExtinguishmentOfDebt (3,796)us-gaap_GainsLossesOnExtinguishmentOfDebt (5,772)us-gaap_GainsLossesOnExtinguishmentOfDebt
Earnings before income taxes 208,417us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 177,672us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 28,854us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
(Provision for)/benefit from income taxes (66,176)us-gaap_IncomeTaxExpenseBenefit (53,208)us-gaap_IncomeTaxExpenseBenefit 76,309us-gaap_IncomeTaxExpenseBenefit
Net earnings $ 142,241us-gaap_NetIncomeLoss $ 124,464us-gaap_NetIncomeLoss $ 105,163us-gaap_NetIncomeLoss
Earnings per common share:      
Basic (in dollars per share) $ 3.65us-gaap_EarningsPerShareBasic $ 3.45us-gaap_EarningsPerShareBasic $ 3.09us-gaap_EarningsPerShareBasic
Diluted (in dollars per share) $ 3.46us-gaap_EarningsPerShareDiluted $ 3.25us-gaap_EarningsPerShareDiluted $ 3.00us-gaap_EarningsPerShareDiluted [1]
Weighted average number of shares:      
Basic (in shares) 39,017us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 36,105us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 34,057us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted (in shares) 41,614us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 38,801us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 35,172us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
[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.