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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Total revenue $ 1,675,545 $ 2,034,644 $ 5,397,966 $ 5,732,791
Total cost of revenue 1,283,827 1,476,704 4,106,997 4,240,243
Gross margin 391,718 557,940 1,290,969 1,492,548
Sales, commissions and other marketing costs 98,797 94,692 304,591 279,950
General and administrative expenses 68,994 52,357 205,904 189,905
Net (income)/loss from unconsolidated entities (1,934) 1,180 (7,049) 2,986
Interest (income)/expense, net (5,782) 4,382 (12,013) 13,823
Other expense/(income), net 2,968 5,751 6,683 (4,720)
Loss/(gain) on extinguishment of debt, net 269 (71) 269 (13,542)
Income before income taxes 228,406 399,649 792,584 1,024,146
Income tax provision 57,960 90,418 196,005 243,300
Net income before allocation to non-controlling interests 170,446 309,231 596,579 780,846
Net loss/(income) attributable to non-controlling interests 245 548 (235) (3,377)
Net income available to Taylor Morrison Home Corporation $ 170,691 $ 309,779 $ 596,344 $ 777,469
Earnings per common share        
Basic (in dollars per share) $ 1.57 $ 2.75 $ 5.48 $ 6.63
Diluted (in dollars per share) $ 1.54 $ 2.72 $ 5.4 $ 6.56
Weighted average number of shares of common stock:        
Basic (in shares) 108,837 112,701 108,827 117,242
Diluted (in shares) 110,622 113,780 110,536 118,438
Home closings        
Total revenue $ 1,611,883 $ 1,983,775 $ 5,221,225 $ 5,511,204
Total cost of revenue 1,238,999 1,438,164 3,980,749 4,084,748
Land closings        
Total revenue 14,291 14,225 31,439 66,651
Total cost of revenue 13,572 11,571 30,620 50,139
Financial services        
Total revenue 40,045 27,749 117,108 98,419
Total cost of revenue 23,128 20,395 70,618 66,092
Amenity and other        
Total revenue 9,326 8,895 28,194 56,517
Total cost of revenue $ 8,128 $ 6,574 $ 25,010 $ 39,264