Set forth below is selected consolidated financial data for each of the past five fiscal years. The selected financial data should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations and our Consolidated Financial Statements and Notes thereto included elsewhere in this report.
Years Ended December 31, ($000’s omitted, except per share data)
2011
2010
2009 (b)
2008
2007
OPERATING DATA:
Homebuilding:
Revenues
$
4,033,596
$
4,447,627
$
3,966,589
$
6,112,038
$
9,121,730
Income (loss) before income taxes
$
(275,830
)
$
(1,240,155
)
$
(1,920,081
)
$
(1,710,644
)
$
(2,539,883
)
Financial Services:
Revenues
$
103,094
$
121,663
$
117,800
$
151,016
$
134,769
Income (loss) before income taxes
$
(34,470
)
$
5,609
$
(55,038
)
$
28,045
$
42,980
Consolidated results:
Revenues
$
4,136,690
$
4,569,290
$
4,084,389
$
6,263,054
$
9,256,499
Income (loss) from continuing operations before income taxes
$
(310,300
)
$
(1,234,546
)
$
(1,975,119
)
$
(1,682,599
)
$
(2,496,903
)
Income tax expense (benefit)
(99,912
)
(137,817
)
(792,552
)
(209,486
)
(222,486
)
Income (loss) from continuing operations
(210,388
)
(1,096,729
)
(1,182,567
)
(1,473,113
)
(2,274,417
)
Income (loss) from discontinued operations (a)
—
—
—
—
18,662
Net income (loss)
$
(210,388
)
$
(1,096,729
)
$
(1,182,567
)
$
(1,473,113
)
$
(2,255,755
)
PER SHARE DATA:
Earnings per share - basic:
Income (loss) from continuing operations
$
(0.55
)
$
(2.90
)
$
(3.94
)
$
(5.81
)
$
(9.02
)
Income (loss) from discontinued operations (a)
—
—
—
—
0.07
Net income (loss)
$
(0.55
)
$
(2.90
)
$
(3.94
)
$
(5.81
)
$
(8.94
)
Weighted-average common shares outstanding (000’s omitted)
379,877
378,585
300,179
253,512
252,192
Earnings per share - assuming dilution:
Income (loss) from continuing operations
$
(0.55
)
$
(2.90
)
$
(3.94
)
$
(5.81
)
$
(9.02
)
Income (loss) from discontinued operations (a)
—
—
—
—
0.07
Net income (loss)
$
(0.55
)
$
(2.90
)
$
(3.94
)
$
(5.81
)
$
(8.94
)
Weighted-average common shares outstanding and effect of dilutive securities (000’s omitted)
379,877
378,585
300,179
253,512
252,192
Shareholders’ equity
$
5.07
$
5.59
$
8.39
$
10.98
$
16.80
Cash dividends declared
$
—
$
—
$
—
$
0.16
$
0.16
(a)
Income (loss) from discontinued operations is comprised of our former thrift operation and Argentina and Mexico homebuilding operations, which have been presented as discontinued operations for all periods presented.
(b)
Includes Centex’s operations since August 18, 2009.
December 31, ($000’s omitted)
2011
2010
2009 (b)
2008
2007
BALANCE SHEET DATA:
House and land inventory
$
4,636,468
$
4,781,813
$
4,940,358
$
4,201,289
$
6,835,945
Total assets
6,885,620
7,699,376
10,051,222
7,708,458
10,225,703
Senior notes
3,088,344
3,391,668
4,281,532
3,166,305
3,478,230
Shareholders’ equity
1,938,615
2,135,167
3,194,440
2,835,698
4,320,193
Years Ended December 31,
2011
2010
2009 (b)
2008
2007
OTHER DATA:
Markets, at year-end
61
67
69
49
51
Active communities, at year-end
700
786
882
572
737
Closings (units)
15,275
17,095
15,013
21,022
27,540
Net new orders (units)
15,215
15,148
14,185
15,306
25,175
Backlog (units), at year-end
3,924
3,984
5,931
2,174
7,890
Average selling price (per unit)
$
259,000
$
259,000
$
258,000
$
284,000
$
322,000
Gross margin from home sales (a)
12.8
%
9.4
%
(10.5
)%
(10.1
)%
(5.0
)%
(a)
Homebuilding interest expense, which represents the amortization of capitalized interest, and land and community valuation adjustments are included in home sale cost of revenues.
(b)
Includes Centex’s operations since August 18, 2009.
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