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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Inventory impairments $ (6,200) $ (28,415) $ (27,500) $ (29,075)
Total pretax income 139,807 185,789 361,826 646,634
Provision for income taxes (32,502) (41,389) (80,328) (164,271)
Net income 107,305 144,400 281,498 482,363
Other comprehensive income net of tax:        
Unrealized gain related to available-for-sale debt securities 1 0 91 0
Other comprehensive income 1 0 91 0
Comprehensive income $ 107,306 $ 144,400 $ 281,589 $ 482,363
Earnings per share:        
Basic (in dollars per share) $ 1.44 $ 2.03 $ 3.82 $ 6.78
Diluted (in dollars per share) $ 1.40 $ 1.98 $ 3.73 $ 6.59
Weighted average common shares outstanding:        
Basic (in shares) 74,198,016 70,880,405 73,265,878 70,829,761
Diluted (in shares) 76,253,178 72,729,453 75,106,356 72,892,635
Dividends declared per share (in dollars per share) $ 0.55 $ 0.50 $ 1.55 $ 1.50
Homebuilding:        
Revenues $ 1,087,050 $ 1,407,642 $ 3,210,536 $ 4,098,985
Home cost of sales (872,624) (1,059,996) (2,622,362) (3,043,390)
Inventory impairments (6,200) (28,415) (27,500) (29,075)
Total cost of sales (878,824) (1,088,411) (2,649,862) (3,072,465)
Gross profit 208,226 319,231 560,674 1,026,520
Selling, general and administrative expenses (101,311) (141,435) (303,032) (404,598)
Interest and other income 20,414 2,220 51,812 3,797
Other income (expense) 55 (11,800) 987 (28,733)
Total pretax income 127,384 168,216 310,441 596,986
Financial Services:        
Revenues 23,769 34,101 85,874 99,461
Expenses (15,494) (18,704) (46,231) (54,440)
Other income, net 4,148 2,176 11,742 4,627
Total pretax income $ 12,423 $ 17,573 $ 51,385 $ 49,648