Results of Quarterly Operations (Tables)

12 Months Ended

Dec. 31, 2018

The following table presents our unaudited quarterly financial data (in thousands, except per share amounts).



	First		Second		Third		Fourth
2018	Quarter		Quarter		Quarter		Quarter
Total revenues⁽¹⁾	$	583,676	$	771,303	$	775,071	$	1,132,697
Cost of homes sales and other⁽²⁾	451,607		606,111		609,877		897,913
Gross margin	$	132,069	$	165,192	$	165,194	$	234,784
Net income	$	42,880	$	63,680	$	63,969	$	100,984
Net income attributable to noncontrolling interests	—		—		—		(1,602		)
Net income available to common stockholders	$	42,880	$	63,680	$	63,969	$	99,382

Earnings per share
Basic	$	0.28	$	0.42	$	0.43	$	0.70
Diluted	$	0.28	$	0.42	$	0.43	$	0.70

__________

⁽¹⁾ Total revenues includes total homebuilding revenues and financial services revenue.

⁽²⁾ Cost of homes sales and other includes cost of homes sales, cost of land and lot sales, and other operations expense.



	First			Second			Third			Fourth
2017	Quarter			Quarter			Quarter			Quarter
Total revenues⁽¹⁾	$	393,391		$	570,626		$	717,735		$	1,128,520
Cost of homes sales and other⁽²⁾	319,618			455,476			534,494			880,849
Gross margin	$	73,773		$	115,150		$	183,241		$	247,671
Net income	$	8,217		$	32,803		$	72,289		$	74,242
Net income attributable to noncontrolling interests	(24		)	(89		)	(25		)	(222		)
Net income available to common stockholders	$	8,193		$	32,714		$	72,264		$	74,020

Earnings per share
Basic	$	0.05		$	0.21		$	0.48		$	0.49
Diluted	$	0.05		$	0.21		$	0.48		$	0.49

__________

⁽¹⁾ Total revenues includes total homebuilding revenues and financial services revenue.

⁽²⁾ Cost of homes sales and other includes cost of homes sales, cost of land and lot sales, and other operations expense.