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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Financial services revenue $ 47,451 $ 23,254 $ 115,787 $ 62,117
Total revenue 1,699,434 1,105,105 4,571,818 3,295,623
Financial services expenses 22,207 12,829 65,650 36,595
Total cost of revenue 1,389,745 894,031 3,820,195 2,678,735
Gross margin 309,689 211,074 751,623 616,888
Sales, commissions and other marketing costs 102,015 76,765 282,380 226,809
General and administrative expenses 45,152 42,334 146,790 120,990
Equity in income of unconsolidated entities (2,957) (2,103) (8,878) (7,983)
Interest income, net (347) (959) (1,244) (2,250)
Other expense/(income), net 1,830 389 7,424 (1,492)
Transaction expenses 4,791 617 109,877 6,496
Loss on extinguishment of debt, net 10,247 3,610 10,247 5,806
Income/(loss) before income taxes 148,958 90,421 205,027 268,512
Income tax provision 33,759 23,385 52,162 68,307
Net income before allocation to non-controlling interests 115,199 67,036 152,865 200,205
Net income attributable to non-controlling interests — joint ventures (422) (24) (3,845) (211)
Net income available to Taylor Morrison Home Corporation $ 114,777 $ 67,012 $ 149,020 $ 199,994
Earnings per common share        
Basic (usd per share) $ 0.88 $ 0.64 $ 1.17 $ 1.86
Diluted (usd per share) $ 0.87 $ 0.63 $ 1.16 $ 1.84
Weighted average number of shares of common stock:        
Basic (in shares) 129,775 105,472 127,113 107,389
Diluted (in shares) 131,433 106,852 128,081 108,599
Home closings        
Revenue $ 1,640,584 $ 1,073,110 $ 4,376,218 $ 3,205,252
Cost of home/land closings 1,358,196 874,102 3,672,923 2,619,968
Land closings        
Revenue 6,756 4,420 40,241 14,391
Cost of home/land closings 5,217 2,934 42,636 9,418
Amenity and other        
Revenue 4,643 4,321 39,572 13,863
Cost of home/land closings $ 4,125 $ 4,166 $ 38,986 $ 12,754