XML 15 R3.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Total revenue $ 2,095,751 $ 2,120,842 $ 6,021,840 $ 5,811,647
Total cost of revenue 1,619,130 1,589,773 4,614,457 4,391,445
Gross margin 476,621 531,069 1,407,383 1,420,202
Sales, commissions and other marketing costs 115,426 117,714 340,891 334,270
General and administrative expenses 65,275 81,627 199,478 231,970
Net income from unconsolidated entities (1,253) (707) (3,554) (6,086)
Interest expense, net 12,774 3,379 35,092 7,423
Other expense/(income), net 12,004 (3,635) 21,249 3,837
Income before income taxes 272,395 332,691 814,227 848,788
Income tax provision 67,944 81,219 200,060 206,241
Net income before allocation to non-controlling interests 204,451 251,472 614,167 642,547
Net income attributable to non-controlling interests (3,010) (346) (5,683) (1,691)
Net income $ 201,441 $ 251,126 $ 608,484 $ 640,856
Earnings per common share:        
Basic (in dollars per share) $ 2.05 $ 2.41 $ 6.10 $ 6.08
Diluted (in dollars per share) $ 2.01 $ 2.37 $ 6.00 $ 5.97
Weighted average number of shares of common stock:        
Basic (in shares) 98,439 104,132 99,731 105,359
Diluted (in shares) 100,048 106,089 101,377 107,361
Home closings revenue, net        
Total revenue $ 2,000,909 $ 2,029,134 $ 5,797,077 $ 5,585,516
Total cost of revenue 1,558,237 1,525,825 4,476,497 4,231,740
Gross margin 442,672 503,309 1,320,580 1,353,776
Land closings revenue        
Total revenue 5,733 27,820 10,415 48,279
Total cost of revenue 2,154 27,010 5,850 50,915
Financial services revenue, net        
Total revenue 55,918 49,654 160,040 145,529
Total cost of revenue 26,570 27,304 80,767 80,553
Amenity and other revenue        
Total revenue 33,191 14,234 54,308 32,323
Total cost of revenue $ 32,169 $ 9,634 $ 51,343 $ 28,237