XML 40 R25.htm IDEA: XBRL DOCUMENT v3.10.0.1
Results of Quarterly Operations
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Results of Quarterly Operations
Results of Quarterly Operations (Unaudited)  
The following table presents our unaudited quarterly financial data (in thousands, except per share amounts).
 
 
First
 
Second
 
Third
 
Fourth
2018
Quarter
 
Quarter
 
Quarter
 
Quarter
Total revenues(1)
$
583,676

 
$
771,303

 
$
775,071

 
$
1,132,697

Cost of homes sales and other(2)
451,607

 
606,111

 
609,877

 
897,913

Gross margin
$
132,069

 
$
165,192

 
$
165,194

 
$
234,784

Net income
$
42,880

 
$
63,680

 
$
63,969

 
$
100,984

Net income attributable to noncontrolling interests

 

 

 
(1,602
)
Net income available to common stockholders
$
42,880

 
$
63,680

 
$
63,969

 
$
99,382

 
 
 
 
 
 
 
 
Earnings per share
 
 
 
 
 
 
 
Basic
$
0.28

 
$
0.42

 
$
0.43

 
$
0.70

Diluted
$
0.28

 
$
0.42

 
$
0.43

 
$
0.70

__________
(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
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.
Quarterly and year-to-date computations of per share amounts are made independently.  Therefore, the sum of per share amounts for the quarter may not agree with per share amounts for the year.