Item 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)
	2020		2019		2018		2017		2016
OPERATING DATA:
Homebuilding:
Revenues	$	10,673,913	$	9,978,526	$	9,982,949	$	8,385,526	$	7,495,404
Income before income taxes	$	1,542,057	$	1,236,261	$	1,288,804	$	865,332	$	860,766
Financial Services:
Revenues	$	362,169	$	234,431	$	205,382	$	192,160	$	181,126
Income before income taxes	$	186,637	$	103,315	$	58,736	$	73,496	$	73,084

Consolidated results:
Revenues	$	11,036,082	$	10,212,957	$	10,188,331	$	8,577,686	$	7,676,530

Income before income taxes	$	1,728,694	$	1,339,576	$	1,347,540	$	938,828	$	933,850
Income tax expense	(321,855)		(322,876)		(325,517)		(491,607)		(331,147)
Net income	$	1,406,839	$	1,016,700	$	1,022,023	$	447,221	$	602,703

PER SHARE DATA:
Net income per share:
Basic	$	5.19	$	3.67	$	3.56	$	1.45	$	1.76
Diluted	$	5.18	$	3.66	$	3.55	$	1.44	$	1.75
Number of shares used in calculation:
Basic	268,553		274,495		283,578		305,089		339,747
Effect of dilutive securities	861		802		1,287		1,725		2,376
Diluted	269,414		275,297		284,865		306,814		342,123
Shareholders’ equity	$	24.66	$	20.20	$	17.39	$	14.60	$	13.63
Cash dividends declared	$	0.50	$	0.45	$	0.38	$	0.36	$	0.36


	December 31, ($000’s omitted)
	2020		2019		2018		2017		2016
BALANCE SHEET DATA:
House and land inventory	$	7,721,798	$	7,680,614	$	7,253,353	$	7,147,130	$	6,770,655
Total assets	12,205,498		10,715,597		10,172,976		9,686,649		10,178,200
Notes payable	2,752,302		2,765,040		3,028,066		3,006,967		3,129,298
Shareholders’ equity	6,569,989		5,458,180		4,817,782		4,154,026		4,659,363

	Years Ended December 31,
	2020		2019		2018		2017		2016
OTHER DATA:
Markets, at year-end	40		42		44		47		49
Average active communities	874		863		832		779		705
Closings (units)	24,624		23,232		23,107		21,052		19,951
Net new orders (units)	29,275		24,977		22,833		22,626		20,326
Backlog (units), at year-end	15,158		10,507		8,722		8,996		7,422
Average selling price (per unit)	$	430,000	$	427,000	$	425,000	$	395,000	$	373,000

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