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Results of Quarterly Operations (Tables)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Results of Operations
The following table presents our unaudited quarterly financial data (in thousands, except per share amounts).
 
 
First
 
Second
 
Third
 
Fourth
2017
Quarter
 
Quarter
 
Quarter
 
Quarter
Total revenues(1)
$
393,391

 
$
570,626

 
$
717,735

 
$
1,128,520

Cost of homes sales and other(2)
319,618

 
455,476

 
534,494

 
880,849

Gross margin
$
73,773

 
$
115,150

 
$
183,241

 
$
247,671

Net income
$
8,217

 
$
32,803

 
$
72,289

 
$
74,242

Net income attributable to noncontrolling interests
(24
)
 
(89
)
 
$
(25
)
 
(222
)
Net income available to common stockholders
$
8,193

 
$
32,714

 
$
72,264

 
$
74,020

 
 
 
 
 
 
 
 
Earnings per share
 
 
 
 
 
 
 
Basic
$
0.05

 
$
0.21

 
$
0.48

 
$
0.49

Diluted
$
0.05

 
$
0.21

 
$
0.48

 
$
0.49

__________
(1) Total revenues includes total homebuilding revenues and financial services revenue.
(2) Cost of homes sales and other includes cost of homes sales, cost of land and lot sales, and other operations expense.

 
First
 
Second
 
Third
 
Fourth
2016
Quarter
 
Quarter
 
Quarter
 
Quarter
Total revenues(1)
$
424,138

 
$
625,222

 
$
582,029

 
$
773,753

Cost of homes sales and other(2)
325,844

 
447,781

 
464,632

 
617,684

Gross margin
$
98,294

 
$
177,441

 
$
117,397

 
$
156,069

Net income
$
28,710

 
$
74,193

 
$
35,145

 
$
58,085

Net income attributable to noncontrolling interests
(160
)
 
(267
)
 
(311
)
 
(224
)
Net income available to common stockholders
$
28,550

 
$
73,926

 
$
34,834

 
$
57,861

 
 
 
 
 
 
 
 
Earnings per share
 
 
 
 
 
 
 
Basic
$
0.18

 
$
0.46

 
$
0.22

 
$
0.36

Diluted
$
0.18

 
$
0.46

 
$
0.22

 
$
0.36


 __________
(1) Total revenues includes total homebuilding revenues and financial services revenue.
(2) Cost of homes sales and other includes cost of homes sales, cost of land and lot sales, and other operations expense.