filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
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) | |||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
| OPERATING DATA: | |||||||||||||||||||
| Homebuilding: | |||||||||||||||||||
| Revenues | $ | 5,841,211 | $ | 5,696,725 | $ | 5,538,644 | $ | 4,659,110 | $ | 4,033,596 | |||||||||
| Income (loss) before income taxes | $ | 757,317 | $ | 635,177 | $ | 479,113 | $ | 157,991 | $ | (275,830 | ) | ||||||||
| Financial Services: | |||||||||||||||||||
| Revenues | $ | 140,753 | $ | 125,638 | $ | 140,951 | $ | 160,888 | $ | 103,094 | |||||||||
| Income (loss) before income taxes | $ | 58,706 | $ | 54,581 | $ | 48,709 | $ | 25,563 | $ | (34,470 | ) | ||||||||
| Consolidated results: | |||||||||||||||||||
| Revenues | $ | 5,981,964 | $ | 5,822,363 | $ | 5,679,595 | $ | 4,819,998 | $ | 4,136,690 | |||||||||
| Income (loss) before income taxes | $ | 816,023 | $ | 689,758 | $ | 527,822 | $ | 183,554 | $ | (310,300 | ) | ||||||||
| Income tax expense (benefit) | 321,933 | 215,420 | (2,092,294 | ) | (22,591 | ) | (99,912 | ) | |||||||||||
| Net income (loss) | $ | 494,090 | $ | 474,338 | $ | 2,620,116 | $ | 206,145 | $ | (210,388 | ) | ||||||||
| PER SHARE DATA: | |||||||||||||||||||
| Net income (loss) per share: | |||||||||||||||||||
| Basic | $ | 1.38 | $ | 1.27 | $ | 6.79 | $ | 0.54 | $ | (0.55 | ) | ||||||||
| Diluted | $ | 1.36 | $ | 1.26 | $ | 6.72 | $ | 0.54 | $ | (0.55 | ) | ||||||||
| Number of shares used in calculation: | |||||||||||||||||||
| Basic | 356,576 | 370,377 | 383,077 | 381,562 | 379,877 | ||||||||||||||
| Effect of dilutive securities | 3,217 | 3,725 | 3,789 | 3,002 | — | ||||||||||||||
| Diluted | 359,793 | 374,102 | 386,866 | 384,564 | 379,877 | ||||||||||||||
| Shareholders’ equity | $ | 13.63 | $ | 13.01 | $ | 12.19 | $ | 5.66 | $ | 5.07 | |||||||||
| Cash dividends declared | $ | 0.33 | $ | 0.23 | $ | 0.15 | $ | — | $ | — |
| December 31, ($000’s omitted) | |||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
| BALANCE SHEET DATA: | |||||||||||||||||||
| House and land inventory | $ | 5,450,058 | $ | 4,392,100 | $ | 3,978,561 | $ | 4,214,046 | $ | 4,636,468 | |||||||||
| Total assets | 8,967,160 | 8,569,410 | 8,734,143 | 6,734,409 | 6,885,620 | ||||||||||||||
| Senior notes and term loan | 2,084,769 | 1,818,561 | 2,058,168 | 2,509,613 | 3,088,344 | ||||||||||||||
| Shareholders’ equity | 4,759,325 | 4,804,954 | 4,648,952 | 2,189,616 | 1,938,615 | ||||||||||||||
| Years Ended December 31, | |||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
| OTHER DATA: | |||||||||||||||||||
| Markets, at year-end | 50 | 49 | 48 | 58 | 61 | ||||||||||||||
| Active communities, at year-end | 620 | 598 | 577 | 670 | 700 | ||||||||||||||
| Closings (units) | 17,127 | 17,196 | 17,766 | 16,505 | 15,275 | ||||||||||||||
| Net new orders (units) | 18,008 | 16,652 | 17,080 | 19,039 | 15,215 | ||||||||||||||
| Backlog (units), at year-end | 6,731 | 5,850 | 5,772 | 6,458 | 3,924 | ||||||||||||||
| Average selling price (per unit) | $ | 338,000 | $ | 329,000 | $ | 305,000 | $ | 276,000 | $ | 259,000 | |||||||||
| Gross margin from home sales (a) | 23.3 | % | 23.3 | % | 20.5 | % | 15.8 | % | 12.8 | % |
| (a) | 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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