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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Gross profit:        
Income before income taxes [1] $ 378.6 $ 333.8 $ 920.4 $ 784.6
Income tax expense 128.8 112.4 317.8 272.8
Net income 249.8 221.4 602.6 511.8
Other comprehensive income, net of income tax:        
Comprehensive income $ 249.8 $ 221.4 $ 601.2 $ 511.8
Basic net income per common share (in dollars per share) $ 0.67 $ 0.60 $ 1.63 $ 1.40
Net income per common share assuming dilution (in dollars per share) 0.66 0.60 1.61 1.39
Cash dividends declared per common share (in dollars per share) $ 0.08 $ 0.0625 $ 0.24 $ 0.1875
Homebuilding [Member]        
Revenues:        
Home sales $ 3,118.7 $ 2,857.9 $ 8,145.6 $ 7,417.4
Land/lot sales and other 30.1 18.5 65.2 50.6
Total revenues 3,148.8 2,876.4 8,210.8 7,468.0
Cost of sales:        
Home sales 2,486.5 2,288.9 6,512.1 5,948.8
Land/lot sales and other 28.4 16.1 56.2 44.1
Inventory and land option charges 8.1 15.4 16.0 34.0
Total cost of sales 2,523.0 2,320.4 6,584.3 6,026.9
Gross profit:        
Home sales 632.2 569.0 1,633.5 1,468.6
Land/lot sales and other 1.7 2.4 9.0 6.5
Inventory and land option charges (8.1) (15.4) (16.0) (34.0)
Total gross profit 625.8 556.0 1,626.5 1,441.1
Selling, general and administrative expense 280.4 257.8 782.0 738.2
Other (income) (3.8) (3.9) (16.8) (13.9)
Income before income taxes 349.2 302.1 861.3 716.8
Financial Services [Member]        
Gross profit:        
Revenues 83.1 74.4 205.4 183.6
General and administrative expense 56.4 46.0 153.5 124.6
Interest and other (income) (2.7) (3.3) (7.2) (8.8)
Income before income taxes 29.4 31.7 59.1 67.8
Debt Securities [Member]        
Other comprehensive income, net of income tax:        
Net change in unrealized gain 0.0 0.0 1.2 0.0
Reclassification adjustment for net gain realized in net income $ 0.0 $ 0.0 $ (2.6) $ 0.0
[1] Expenses maintained at the corporate level consist primarily of interest and property taxes, which are capitalized and amortized to cost of sales or expensed directly, and the expenses related to operating the Company’s corporate office. The amortization of capitalized interest and property taxes is allocated to each segment based on the segment’s cost of sales, while those expenses associated with the corporate office are allocated to each segment based on the segment’s inventory balances.