XML 15 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Inventory impairments $ (11,098,000) $ (4,540,000) $ (11,848,000) $ (9,390,000)
Other-than-temporary impairment of marketable securities 0 0 0 (200,000)
Pretax income 67,420,000 89,680,000 194,568,000 177,934,000
Income before income taxes 67,420,000 89,680,000 194,568,000 177,934,000
Provision for income taxes (14,028,000) (28,517,000) (38,513,000) (60,651,000)
Net income 53,392,000 61,163,000 156,055,000 117,283,000
Other comprehensive loss related to available for sale securities, net of tax (23,175,000) (19,245,000)
Comprehensive income $ 53,392,000 $ 37,988,000 $ 156,055,000 $ 98,038,000
Earnings per share:        
Basic (in dollars per share) $ 0.94 $ 1.09 $ 2.77 $ 2.10
Diluted (in dollars per share) $ 0.93 $ 1.07 $ 2.72 $ 2.07
Weighted average common shares outstanding:        
Basic (in shares) 56,171,619 55,782,389 56,023,996 55,623,225
Diluted (in shares) 57,226,659 56,809,208 57,029,715 56,428,247
Dividends declared per share (in dollars per share) $ 0.30 $ 0.23 $ 0.90 $ 0.69
Homebuilding Segment [Member]        
Revenues $ 766,027,000 $ 586,287,000 $ 2,123,323,000 $ 1,798,984,000
Cost of sales (630,346,000) (490,946,000) (1,734,131,000) (1,505,228,000)
Inventory impairments (11,098,000) (4,540,000) (11,848,000) (9,390,000)
Gross profit 135,681,000 95,341,000 389,192,000 293,756,000
Selling, general and administrative expenses (83,523,000) (69,102,000) (236,435,000) (206,109,000)
Interest and other income 1,953,000 54,548,000 5,586,000 59,722,000
Other expense (1,128,000) (618,000) (2,562,000) (1,635,000)
Other-than-temporary impairment of marketable securities (51,000)
Pretax income 52,983,000 80,169,000 155,781,000 145,683,000
Income before income taxes 52,983,000 80,169,000 155,781,000 145,683,000
Homebuilding Segment [Member] | Home Building [Member]        
Revenues 766,027,000 584,947,000 2,123,323,000 1,796,046,000
Cost of sales (619,248,000) (485,147,000) (1,722,283,000) (1,493,166,000)
Homebuilding Segment [Member] | Land [Member]        
Revenues 1,340,000 2,938,000
Cost of sales (1,259,000) (2,672,000)
Financial Services Segment [Member]        
Revenues 19,611,000 17,464,000 60,018,000 54,516,000
Other-than-temporary impairment of marketable securities (29,000) (160,000)
Pretax income 14,437,000 9,511,000 38,787,000 32,251,000
Expenses (9,408,000) (8,849,000) (27,850,000) (25,247,000)
Interest and other income 4,234,000 925,000 6,619,000 3,142,000
Income before income taxes $ 14,437,000 $ 9,511,000 $ 38,787,000 $ 32,251,000