XML 14 R3.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Total revenue $ 1,858,751 $ 1,699,434 $ 4,995,843 $ 4,571,818
Total cost of revenue 1,466,301 1,389,745 4,000,249 3,820,195
Gross margin 392,450 309,689 995,594 751,623
Sales, commissions and other marketing costs 97,185 102,015 280,697 282,380
General and administrative expenses 70,425 45,152 201,975 146,790
Equity in income of unconsolidated entities (1,482) (2,957) (9,269) (8,878)
Interest expense/(income), net 710 (347) 594 (1,244)
Other expense, net 47 1,830 1,067 7,424
Transaction expenses 0 4,791 0 109,877
Income before income taxes 225,565 148,958 520,530 205,027
Income tax provision 53,098 33,759 120,865 52,162
Net income before allocation to non-controlling interests 172,467 115,199 399,665 152,865
Net income attributable to non-controlling interests (4,333) (422) (9,363) (3,845)
Net income available to Taylor Morrison Home Corporation $ 168,134 $ 114,777 $ 390,302 $ 149,020
Earnings per common share        
Basic (in dollars per share) $ 1.35 $ 0.88 $ 3.07 $ 1.17
Diluted (in dollars per share) $ 1.34 $ 0.87 $ 3.02 $ 1.16
Weighted average number of shares of common stock:        
Basic (in shares) 124,378 129,775 127,217 127,113
Diluted (in shares) 125,770 131,433 129,043 128,081
Home closings        
Total revenue $ 1,772,495 $ 1,640,584 $ 4,780,304 $ 4,376,218
Total cost of revenue 1,397,319 1,358,196 3,838,602 3,672,923
Land closings        
Total revenue 42,228 6,756 79,174 40,241
Total cost of revenue 36,439 5,217 68,604 42,636
Financial Services        
Total revenue 38,046 47,451 119,503 115,787
Total cost of revenue 26,202 22,207 76,136 65,650
Amenity and other        
Total revenue 5,982 4,643 16,862 39,572
Total cost of revenue $ 6,341 $ 4,125 $ 16,907 $ 38,986