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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Inventory impairments $ (13,500)   $ (21,300) $ (660)
Total pretax income 113,050 $ 258,963 222,019 460,845
Provision for income taxes (19,557) (69,421) (47,826) (122,882)
Net income 93,493 189,542 174,193 337,963
Other comprehensive income (loss) net of tax:        
Unrealized gain (loss) related to available-for-sale debt securities (233) 0 90 0
Other comprehensive income (loss) (233) 0 90 0
Comprehensive income $ 93,260 $ 189,542 $ 174,283 $ 337,963
Earnings per share:        
Basic (in dollars per share) $ 1.28 $ 2.66 $ 2.38 $ 4.75
Diluted (in dollars per share) $ 1.24 $ 2.59 $ 2.33 $ 4.61
Weighted average common shares outstanding:        
Basic (in shares) 72,934,920 70,841,476 72,793,951 70,804,019
Diluted (in shares) 74,956,026 72,881,012 74,500,489 72,945,748
Dividends declared per share (in dollars per share) $ 0.50 $ 0.50 $ 1.00 $ 1.00
Homebuilding:        
Revenues $ 1,103,470 $ 1,450,823 $ 2,123,486 $ 2,691,343
Home cost of sales (908,991) (1,062,016) (1,749,738) (1,983,394)
Inventory impairments (13,500) 0 (21,300) (660)
Total cost of sales (922,491) (1,062,016) (1,771,038) (1,984,054)
Gross profit 180,979 388,807 352,448 707,289
Selling, general and administrative expenses (106,733) (133,849) (201,721) (263,163)
Interest and other income 17,939 822 31,398 1,577
Other expense (127) (15,509) 932 (16,933)
Total pretax income 92,058 240,271 183,057 428,770
Financial Services:        
Revenues 32,619 36,229 62,105 65,360
Expenses (15,487) (18,801) (30,737) (35,736)
Other income, net 3,860 1,264 7,594 2,451
Total pretax income $ 20,992 $ 18,692 $ 38,962 $ 32,075