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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Consolidated revenues $ 793,134 $ 365,276 $ 1,457,200 $ 708,836
Homebuilding cost of sales 635,422 303,589 1,174,290 594,626
Selling, general and administrative expense 66,015 30,137 127,725 59,452
Income from equity in earnings of unconsolidated entities (3,334) (1,125) (6,294) (2,857)
Contingent consideration revaluation 5,042 3,977 9,234 5,160
Other (income) expense, net 278 (7,856) (691) (7,153)
Interest expense 13 16 26 658
Income before taxes 89,698 36,538 152,910 58,950
Income tax expense (23,327) (4,479) (40,205) (9,295)
Net income (loss) 66,371 32,059 112,705 49,655
Comprehensive income 66,371 32,059 112,705 49,655
Net income attributable to noncontrolling interest (3,747) (3,486) (6,365) (4,961)
Comprehensive income attributable to noncontrolling interest (3,747) (3,486) (6,365) (4,961)
Net income attributable to Dream Finders Homes, Inc. 62,624 28,573 106,340 44,694
Comprehensive income attributable to Dream Finders Homes, Inc. $ 62,624 $ 28,573 $ 106,340 $ 44,694
Earnings per share        
Basic (in dollars per share) [1] $ 0.64 $ 0.31 $ 1.07 $ 0.49
Diluted (in dollars per share) [1] $ 0.60 $ 0.31 $ 1.02 $ 0.49
Weighted-average number of shares        
Basic (in shares) 92,758,939 92,521,482 92,758,939 92,521,482
Diluted (in shares) 104,566,243 92,670,727 103,531,560 92,641,222
Homebuilding        
Revenues:        
Consolidated revenues $ 791,230 $ 363,743 $ 1,453,703 $ 705,910
Other        
Revenues:        
Consolidated revenues $ 1,904 $ 1,533 $ 3,497 $ 2,926
[1] The Company calculated earnings per share (“EPS”) based on net income attributable to common stockholders for the period January 21, 2021 through June 30, 2021 over the weighted average diluted shares outstanding for the same period. EPS was calculated prospectively for the period subsequent to the Company’s initial public offering and corporate reorganization as described in Note 1, Nature of Business and Significant Accounting Policies, resulting in 92,521,482 shares of common stock outstanding as of the closing of the initial public offering. The total outstanding shares of common stock are made up of Class A common stock and Class B common stock, which participate equally in their ratable ownership share of the Company. Diluted shares were calculated by using the treasury stock method for stock grants and the if-converted method for the convertible preferred stock and the associated preferred dividends.