Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONSOLIDATED INCOME STATEMENTS

v3.7.0.1
UNAUDITED CONSOLIDATED INCOME STATEMENTS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Homebuilding:    
Home closing revenue $ 660,617 $ 595,617
Land closing revenue 12,155 2,149
Total closing revenue 672,772 597,766
Cost of home closings (553,349) (492,270)
Cost of land closings (9,660) (1,700)
Total cost of closings (563,009) (493,970)
Home closing gross profit 107,268 103,347
Land closing gross profit 2,495 449
Total closing gross profit 109,763 103,796
Financial Services:    
Revenue 2,944 2,500
Expense (1,379) (1,246)
Earnings from financial services unconsolidated entities and other, net 2,725 2,792
Financial services profit 4,290 4,046
Commissions and other sales costs (48,320) (46,177)
General and administrative expenses (29,622) (29,618)
Earnings/(loss) from other unconsolidated entities, net 373 (157)
Interest expense (825) (3,288)
Other income, net 1,110 283
Earnings before income taxes 36,769 28,885
Provision for income taxes (13,197) (7,916)
Net earnings $ 23,572 $ 20,969
Earnings per common share:    
Basic (in dollars per share) $ 0.59 $ 0.53
Diluted (in dollars per share) [1] $ 0.56 $ 0.50
Weighted average number of shares:    
Basic (in shares) 40,178 39,839
Diluted (in shares) 42,808 42,363
[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.