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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
May 31, 2023
May 31, 2022
May 31, 2023
May 31, 2022
Revenues $ 1,765,316 $ 1,720,062 $ 3,149,630 $ 3,118,851
Equity in loss of unconsolidated joint ventures     5,938 19,668
Total pretax income 214,942 282,870 377,142 460,927
Income tax expense (50,500) (72,200) (87,200) (116,000)
Net income $ 164,442 $ 210,670 $ 289,942 $ 344,927
Earnings per share:        
Basic (in dollars per share) $ 2.00 $ 2.39 $ 3.49 $ 3.90
Diluted (in dollars per share) $ 1.94 $ 2.32 $ 3.38 $ 3.79
Weighted average shares outstanding:        
Basic (in shares) 81,764 87,858 82,607 88,069
Diluted (in shares) 84,306 90,316 85,141 90,690
Homebuilding        
Revenues $ 1,757,846 $ 1,714,826 $ 3,136,383 $ 3,108,980
Construction and land costs (1,386,558) (1,281,752) (2,469,379) (2,363,864)
Selling, general and administrative expenses (169,186) (168,614) (308,413) (311,094)
Operating income 202,102 264,460 358,591 434,022
Interest income 1,729 39 2,196 75
Equity in loss of unconsolidated joint ventures (313) (310) (1,070) (287)
Total pretax income 203,518 264,189 359,717 433,810
Financial services        
Revenues 7,470 5,236 13,247 9,871
Selling, general and administrative expenses (1,472) (1,362) (2,830) (2,709)
Operating income 5,998 3,874 10,417 7,162
Equity in loss of unconsolidated joint ventures 5,426 14,807 7,008 19,955
Total pretax income $ 11,424 $ 18,681 $ 17,425 $ 27,117