UNAUDITED CONSOLIDATED INCOME STATEMENTS - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
|
| Commissions and other sales costs | $ (77,884) | $ (68,952) | $ (212,807) | $ (210,585) |
| General and administrative expenses | (48,443) | (47,192) | (136,370) | (128,297) |
| Interest expense | 0 | (79) | (41) | (246) |
| Other (expense)/income, net | (74) | 1,268 | (849) | 3,443 |
| Loss on early extinguishment of debt | 0 | 0 | 0 | (18,188) |
| Earnings before income taxes | 329,491 | 261,709 | 947,069 | 643,337 |
| Provision for income taxes | (67,002) | (60,957) | (217,242) | (143,353) |
| Net earnings | $ 262,489 | $ 200,752 | $ 729,827 | $ 499,984 |
| Earnings per common share: | ||||
| Basic (in dollars per share) | $ 7.18 | $ 5.33 | $ 19.87 | $ 13.26 |
| Diluted (in dollars per share) | $ 7.10 | $ 5.25 | $ 19.65 | $ 13.06 |
| Weighted average number of shares: | ||||
| Basic (in shares) | 36,569 | 37,647 | 36,736 | 37,703 |
| Diluted (in shares) | 36,946 | 38,229 | 37,136 | 38,285 |
| Homebuilding | ||||
| Revenue | $ 1,578,021 | $ 1,259,905 | $ 4,277,336 | $ 3,621,285 |
| Cost of closings | (1,126,971) | (887,465) | (2,992,455) | (2,636,674) |
| Gross profit | 451,050 | 372,440 | 1,284,881 | 984,611 |
| Home closings | ||||
| Revenue | 1,569,032 | 1,251,435 | 4,223,435 | 3,596,060 |
| Cost of closings | (1,118,394) | (879,759) | (2,950,409) | (2,612,428) |
| Gross profit | 450,638 | 371,676 | 1,273,026 | 983,632 |
| Land closings | ||||
| Revenue | 8,989 | 8,470 | 53,901 | 25,225 |
| Cost of closings | (8,577) | (7,706) | (42,046) | (24,246) |
| Gross profit | 412 | 764 | 11,855 | 979 |
| Financial Services | ||||
| Revenue | 6,308 | 5,208 | 16,119 | 15,624 |
| Expense | (2,804) | (2,308) | (7,897) | (6,846) |
| Gross profit | 4,842 | 4,224 | 12,255 | 12,599 |
| Earnings from financial services unconsolidated entities and other, net | $ 1,338 | $ 1,324 | $ 4,033 | $ 3,821 |
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- Definition Income (loss) from Equity Method Investments and Other, Net No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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