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)
2012
2011
2010
2009 (a)
2008
OPERATING DATA:
Homebuilding:
Revenues
$
4,659,110
$
4,033,596
$
4,447,627
$
3,966,589
$
6,112,038
Income (loss) before income taxes
$
157,991
$
(275,830
)
$
(1,240,155
)
$
(1,920,081
)
$
(1,710,644
)
Financial Services:
Revenues
$
160,888
$
103,094
$
121,663
$
117,800
$
151,016
Income (loss) before income taxes
$
25,563
$
(34,470
)
$
5,609
$
(55,038
)
$
28,045
Consolidated results:
Revenues
$
4,819,998
$
4,136,690
$
4,569,290
$
4,084,389
$
6,263,054
Income (loss) before income taxes
$
183,554
$
(310,300
)
$
(1,234,546
)
$
(1,975,119
)
$
(1,682,599
)
Income tax expense (benefit)
(22,591
)
(99,912
)
(137,817
)
(792,552
)
(209,486
)
Net income (loss)
$
206,145
$
(210,388
)
$
(1,096,729
)
$
(1,182,567
)
$
(1,473,113
)
PER SHARE DATA:
Net income (loss) per share:
Basic
$
0.54
$
(0.55
)
$
(2.90
)
$
(3.94
)
$
(5.81
)
Diluted
$
0.54
$
(0.55
)
$
(2.90
)
$
(3.94
)
$
(5.81
)
Number of shares used in calculation:
Basic
381,562
379,877
378,585
300,179
253,512
Effect of dilutive securities
3,002
—
—
—
—
Diluted
384,564
379,877
378,585
300,179
253,512
Shareholders’ equity
$
5.66
$
5.07
$
5.59
$
8.39
$
10.98
Cash dividends declared
$
—
$
—
$
—
$
—
$
0.16
(a)
Includes operations of Centex Corporation since August 18, 2009.
December 31, ($000’s omitted)
2012
2011
2010
2009 (a)
2008
BALANCE SHEET DATA:
House and land inventory
$
4,214,046
$
4,636,468
$
4,781,813
$
4,940,358
$
4,201,289
Total assets
6,734,409
6,885,620
7,699,376
10,051,222
7,708,458
Senior notes
2,509,613
3,088,344
3,391,668
4,281,532
3,166,305
Shareholders’ equity
2,189,616
1,938,615
2,135,167
3,194,440
2,835,698
Years Ended December 31,
2012
2011
2010
2009 (a)
2008
OTHER DATA:
Markets, at year-end
58
61
67
69
49
Active communities, at year-end
670
700
786
882
572
Closings (units)
16,505
15,275
17,095
15,013
21,022
Net new orders (units)
19,039
15,215
15,148
14,185
15,306
Backlog (units), at year-end
6,458
3,924
3,984
5,931
2,174
Average selling price (per unit)
$
276,000
$
259,000
$
259,000
$
258,000
$
284,000
Gross margin from home sales (b)
15.8
%
12.8
%
9.4
%
(10.5
)%
(10.1
)%
(a)
Includes operations of Centex Corporation since August 18, 2009.
(b)
Homebuilding interest expense, which represents the amortization of capitalized interest, and land and community valuation adjustments are included in home sale cost of revenues.
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