Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.6.0.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Homebuilding:      
Home closing revenue $ 3,003,426 $ 2,531,556 $ 2,142,391
Land closing revenue 25,801 36,526 27,252
Total closing revenue 3,029,227 2,568,082 2,169,643
Cost of home closings (2,474,584) (2,049,637) (1,688,676)
Cost of land closings (23,431) (29,736) (28,350)
Total cost of closings (2,498,015) (2,079,373) (1,717,026)
Home closing gross profit 528,842 481,919 453,715
Land closing gross profit/(loss) 2,370 6,790 (1,098)
Total closing gross profit 531,212 488,709 452,617
Financial Services:      
Revenue 12,507 11,377 10,121
Expense (5,587) (5,203) (4,812)
Earnings from financial services unconsolidated entities and other, net 14,982 13,097 10,869
Financial services profit 21,902 19,271 16,178
Commissions and other sales costs (215,092) (188,418) (156,742)
General and administrative expenses (123,803) (112,849) (104,598)
Earnings/(loss) from other unconsolidated entities, net 4,060 (338) (447)
Interest expense (5,172) (15,965) (5,163)
Other income/(expense), net 4,953 (946) 6,572
Earnings before income taxes 218,060 189,464 208,417
Provision for income taxes (68,519) (60,726) (66,176)
Net earnings $ 149,541 $ 128,738 $ 142,241
Earnings per common share:      
Basic (in dollars per share) $ 3.74 $ 3.25 $ 3.65
Diluted (in dollars per share) [1] $ 3.55 $ 3.09 $ 3.46
Weighted average number of shares:      
Basic (in shares) 39,976 39,593 39,017
Diluted (in shares) 42,585 42,164 41,614
[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.