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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Financial services revenue $ 16,266 $ 15,634 $ 30,472 $ 29,883
Total revenues 980,828 908,494 1,733,161 1,677,584
Financial services expenses 11,152 10,102 21,196 18,804
Total cost of revenues 802,117 737,074 1,411,348 1,364,471
Gross margin 178,711 171,420 321,813 313,113
Sales, commissions and other marketing costs 64,604 61,516 118,302 117,133
General and administrative expenses 35,461 33,894 68,778 67,022
Equity in income of unconsolidated entities (4,017) (3,071) (7,263) (4,156)
Interest income, net (276) (89) (619) (179)
Other expense, net 3,654 764 4,092 413
Income/(loss) before income taxes 79,285 78,406 138,523 132,880
Income tax provision 19,993 22,476 31,699 41,349
Net income before allocation to non-controlling interests 59,292 55,930 106,824 91,531
Net income attributable to non-controlling interests — joint ventures (140) (207) (269) (198)
Net income before non-controlling interests 59,152 55,723 106,555 91,333
Net income attributable to non-controlling interests (474) (28,322) (3,133) (54,164)
Net income available to Taylor Morrison Home Corporation $ 58,678 $ 27,401 $ 103,422 $ 37,169
Earnings per common share        
Basic (usd per share) $ 0.53 $ 0.46 $ 0.94 $ 0.76
Diluted (usd per share) $ 0.52 $ 0.46 $ 0.93 $ 0.76
Weighted average number of shares of common stock:        
Basic (in shares) 111,347 58,977 110,508 48,822
Diluted (in shares) 113,482 121,061 115,400 120,895
Home closings        
Revenue contract with customers $ 956,565 $ 889,096 $ 1,689,524 $ 1,640,581
Cost of home/land closings 784,521 724,505 1,379,427 1,340,800
Land closings        
Revenue contract with customers 7,997 3,764 13,165 7,120
Cost of home/land closings $ 6,444 $ 2,467 $ 10,725 $ 4,867