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)
2013
2012
2011
2010
2009 (a)
OPERATING DATA:
Homebuilding:
Revenues
$
5,538,644
$
4,659,110
$
4,033,596
$
4,447,627
$
3,966,589
Income (loss) before income taxes
$
479,113
$
157,991
$
(275,830
)
$
(1,240,155
)
$
(1,920,081
)
Financial Services:
Revenues
$
140,951
$
160,888
$
103,094
$
121,663
$
117,800
Income (loss) before income taxes
$
48,709
$
25,563
$
(34,470
)
$
5,609
$
(55,038
)
Consolidated results:
Revenues
$
5,679,595
$
4,819,998
$
4,136,690
$
4,569,290
$
4,084,389
Income (loss) before income taxes
$
527,822
$
183,554
$
(310,300
)
$
(1,234,546
)
$
(1,975,119
)
Income tax expense (benefit)
(2,092,294
)
(22,591
)
(99,912
)
(137,817
)
(792,552
)
Net income (loss)
$
2,620,116
$
206,145
$
(210,388
)
$
(1,096,729
)
$
(1,182,567
)
PER SHARE DATA:
Net income (loss) per share:
Basic
$
6.79
$
0.54
$
(0.55
)
$
(2.90
)
$
(3.94
)
Diluted
$
6.72
$
0.54
$
(0.55
)
$
(2.90
)
$
(3.94
)
Number of shares used in calculation:
Basic
383,077
381,562
379,877
378,585
300,179
Effect of dilutive securities
3,789
3,002
—
—
—
Diluted
386,866
384,564
379,877
378,585
300,179
Shareholders’ equity
$
12.19
$
5.66
$
5.07
$
5.59
$
8.39
Cash dividends declared
$
0.15
$
—
$
—
$
—
$
—
(a)
Includes operations of Centex since August 18, 2009.
December 31, ($000’s omitted)
2013
2012
2011
2010
2009 (a)
BALANCE SHEET DATA:
House and land inventory
$
3,978,561
$
4,214,046
$
4,636,468
$
4,781,813
$
4,940,358
Total assets
8,734,143
6,734,409
6,885,620
7,699,376
10,051,222
Senior notes
2,058,168
2,509,613
3,088,344
3,391,668
4,281,532
Shareholders’ equity
4,648,952
2,189,616
1,938,615
2,135,167
3,194,440
Years Ended December 31,
2013
2012
2011
2010
2009 (a)
OTHER DATA:
Markets, at year-end
48
58
61
67
69
Active communities, at year-end
577
670
700
786
882
Closings (units)
17,766
16,505
15,275
17,095
15,013
Net new orders (units)
17,080
19,039
15,215
15,148
14,185
Backlog (units), at year-end
5,772
6,458
3,924
3,984
5,931
Average selling price (per unit)
$
305,000
$
276,000
$
259,000
$
259,000
$
258,000
Gross margin from home sales (b)
20.5
%
15.8
%
12.8
%
9.4
%
(10.5
)%
(a)
Includes operations of Centex Corporation since August 18, 2009.
(b)
Homebuilding interest expense, which represents the amortization of capitalized interest, and land impairment charges are included in home sale cost of revenues.
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