XML 70 R4.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2019
Operating revenue $ 466,889 $ 1,388,222
Operating costs    
Sales and marketing (25,244) (75,887)
General and administrative (30,292) (88,890)
Transaction expenses 0 0
Other (600) (1,639)
Total operating costs (452,772) (1,337,333)
Operating income 14,117 50,889
Equity in income of unconsolidated joint ventures 353 2,643
Income from financial services operations 3,390 2,168
Financial services income 3,743 3,821
Other income, net 6,261 7,345
Income before extinguishment of debt 24,121 62,055
(Loss) on extinguishment of debt, net (1,816) (1,433)
Income (loss) before provision for income taxes 22,305 60,622
Provision for income taxes (4,795) (13,548)
Net income 17,510 47,074
Less: Net income attributable to noncontrolling interests (8,030) (19,024)
Net income available to common stockholders $ 9,480 $ 28,050
Income per common share:    
Basic (in USD per share) $ 0.25 $ 0.74
Diluted (in USD per share) $ 0.24 $ 0.72
Weighted average common shares outstanding:    
Basic (in shares) 37,836,265 37,755,879
Diluted (in shares) 39,171,746 38,944,008
ClosingMark Financial Group, LLC    
Operating revenue $ 15,212 $ 19,857
Operating costs    
Transaction expenses 0 (990)
Total operating costs (11,822) (17,689)
Operating income 3,390 2,168
Equity in income of unconsolidated joint ventures 353 2,643
Financial services income 3,743 3,821
Home sales    
Operating revenue 464,765 1,382,057
Operating costs    
Cost of goods and services sold (394,658) (1,165,185)
Construction services    
Operating revenue 2,124 6,165
Operating costs    
Cost of goods and services sold (1,978) (5,732)
South Pacific Financial Corporation    
Operating revenues 466,889 1,388,222
Operating costs    
Transaction expenses 0 (990)
Financial services income $ 3,743 $ 3,821