Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Earnings from financial services unconsolidated entities and other, net $ 16,333 $ 15,959 $ 19,042
Commissions and other sales costs (241,897) (221,647) (215,092)
General and administrative expenses (138,478) (124,041) (123,803)
Interest expense (785) (3,853) (5,172)
Other income, net 10,616 6,405 4,953
Earnings before income taxes 283,254 247,519 218,060
Provision for income taxes (55,922) (104,264) (68,519)
Net earnings $ 227,332 $ 143,255 $ 149,541
Earnings per common share:      
Basic (in dollars per share) $ 5.67 $ 3.56 $ 3.74
Diluted (in dollars per share) [1] $ 5.58 $ 3.41 $ 3.55
Weighted average number of shares:      
Basic (in shares) 40,107 40,287 39,976
Diluted (in shares) 40,728 42,228 42,585
Home Building [Member]      
Revenue $ 3,474,712 $ 3,186,775 $ 3,003,426
Cost of goods and services sold (2,842,762) (2,624,636) (2,474,584)
Total closing gross profit 631,950 562,139 528,842
Land [Member]      
Revenue 38,707 39,997 25,801
Cost of goods and services sold (41,504) (35,637) (23,431)
Total closing gross profit (2,797) 4,360 2,370
Real Estate [Member]      
Revenue 3,513,419 3,226,772 3,029,227
Cost of goods and services sold (2,884,266) (2,660,273) (2,498,015)
Total closing gross profit 629,153 566,499 531,212
Financial Service [Member]      
Revenue 15,162 14,203 12,507
Cost of revenue (6,454) (6,006) (5,587)
Total closing gross profit 24,044 22,055 21,902
Earnings from financial services unconsolidated entities and other, net 15,336 13,858 14,982
Real Estate And Other [Member]      
Earnings from financial services unconsolidated entities and other, net $ 601 $ 2,101 $ 4,060
[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 based on the number of days the Convertible Notes were outstanding during the period. All of the Convertible Notes were retired in 2017.