Taylor morrison home corp (TMHC)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Sep'12Jun'12Mar'12
Revenue

1,345,699

1,466,436

1,105,105

1,265,426

925,092

1,457,853

1,036,379

980,828

752,333

1,299,679

908,027

908,494

769,090

1,196,967

853,417

854,316

645,329

970,144

796,288

700,973

509,415

1,011,753

629,196

597,008

470,475

391,263

634,441

508,865

381,512

321,455

318,147

-

Financial services revenue

28,039

-

23,254

22,819

16,044

-

17,041

16,266

14,206

-

17,479

15,634

14,249

23,004

13,814

13,498

9,639

14,288

11,316

9,843

7,635

12,623

8,433

8,175

6,262

9,475

7,791

7,216

5,889

5,104

5,318

-

Financial services expenses

20,647

-

12,829

13,045

10,721

-

10,451

11,152

10,044

-

12,070

10,102

8,702

9,505

7,877

8,193

6,524

7,416

6,962

6,096

5,062

6,030

5,057

4,648

3,936

4,501

4,385

4,069

3,491

2,866

2,772

-

Total cost of revenue

1,147,943

1,259,234

894,031

1,031,652

753,052

1,240,472

837,380

802,117

609,231

1,045,181

736,709

737,074

627,397

973,935

674,563

694,564

526,688

782,943

646,816

564,314

414,832

808,191

497,245

469,656

367,094

296,107

500,218

403,925

299,966

247,301

256,275

-

Gross margin

197,756

207,202

211,074

233,774

172,040

217,381

198,999

178,711

143,102

254,498

171,318

171,420

141,693

223,032

178,854

159,752

118,641

187,201

149,472

136,659

94,583

203,562

131,951

127,352

103,381

95,156

134,223

104,940

81,546

74,154

61,872

-

Sales, commissions and other marketing costs

86,327

93,611

76,765

82,615

67,429

92,649

67,504

64,604

53,698

81,054

61,476

61,516

55,617

74,256

58,277

59,182

47,841

61,952

53,482

47,022

36,220

54,535

41,432

39,546

33,384

30,181

37,029

34,267

25,942

19,093

18,361

-

General and administrative expenses

50,526

48,861

42,334

42,202

36,454

36,693

33,016

35,461

33,318

30,381

33,374

33,894

33,128

31,129

29,944

31,710

29,424

25,063

25,264

24,204

20,704

23,574

19,114

19,224

19,241

9,005

21,944

25,905

20,344

13,252

10,206

-

Equity in income of unconsolidated entities

2,426

1,526

2,103

3,561

2,319

3,555

2,514

4,017

3,246

1,903

2,787

3,071

1,085

2,720

1,646

2,305

782

351

-120

1,225

303

1,937

1,231

1,253

984

-18,154

9,425

8,466

3,158

3,709

4,608

-

Interest income, net

560

423

959

958

333

350

670

276

343

263

135

89

90

35

47

15

87

27

33

82

50

-33

-345

-96

-686

-1,960

1,332

-700

486

-1,601

1,538

-

Other expense/(income), net

-6,290

-8,718

-389

489

1,392

-6,927

-798

-3,654

-437

-1,428

-415

-764

351

-3,346

-1,935

-3,412

-3,254

-7

-2,393

-3,463

-5,771

-7,877

-3,241

-4,231

-3,098

-255

-1,304

-541

-742

898

968

-

Transaction expenses

86,374

-

-

-

4,129

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of Acquisition Costs

-

-

617

1,750

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-

-3,610

-2,196

-

0

0

0

0

-

-

-

-

-

-

-

-

-

0

-33,317

-

-

0

-

-

-

-

-10,141

-

-

-7,853

-

Income before income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

52,632

-78,287

-

-

-

-

Gain on foreign currency forward

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

29,983

-

0

-

-

-

-

-

-

-

-

-

Indemnification and transaction expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,452

-396

-189,635

1,710

-793

-13,906

-

Income/(loss) before income taxes

-28,775

-

90,421

110,019

68,072

-

100,865

79,285

59,238

-

78,975

78,406

54,474

117,056

90,391

67,768

38,991

100,557

68,246

29,960

62,224

119,480

69,050

65,508

47,956

28,149

84,307

-147,783

39,872

44,022

18,660

-

Income tax provision

800

-958

23,385

28,131

16,800

24,919

6,424

19,993

11,700

113,348

24,282

22,476

18,900

40,945

31,707

22,104

12,887

35,568

22,452

9,939

22,042

25,793

19,541

20,105

10,956

-1,524

31,675

-69,496

15,535

1,586

-10,174

-

Income from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23,970

14,138

6,435

-

-

-

-

-

-

-

Transaction expenses from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

9,043

-

0

-

-

-

-

-

-

-

-

-

Gain on sale of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

80,205

-

0

-

-

-

-

-

-

-

-

-

Income tax expense from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,397

0

0

14,500

6,399

7,304

4,042

2,139

-

-

-

-

-

-

-

Net income from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,397

0

0

56,662

10,844

16,666

10,096

4,296

-

-

-

-

-

-

-

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

-29,556

54,709

67,036

81,888

51,281

9,215

94,441

59,292

47,532

30,426

54,693

55,930

35,601

76,111

58,684

45,664

26,104

66,386

45,794

20,021

96,844

104,531

66,175

55,499

41,296

-

53,103

-78,393

-

-

-

-

Net income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

45,794

20,021

40,182

-

49,509

45,403

37,000

-

-

-

24,337

42,436

28,834

-

Discontinued operations:
Net income attributable to non-controlling interests — joint ventures

1,875

51

24

37

150

105

159

140

129

-195

427

207

-9

438

376

296

184

255

138

920

368

1,262

47

222

117

156

-471

106

78

-166

-24

-

Net income before allocation to non-controlling interests — Former Principal Equityholders

-

-

67,012

81,851

-

9,110

94,282

59,152

47,403

30,621

54,266

55,723

35,610

75,673

58,308

45,368

25,920

66,131

45,656

19,101

96,476

103,269

66,128

55,277

41,179

-

-

-

-

-

-

-

Net income attributable to non-controlling interests — Former Principal Equityholders

-

-

0

0

-

-75

714

474

2,470

11,154

21,390

28,322

24,134

56,392

43,471

33,683

19,107

47,440

33,312

14,024

29,133

67,482

36,122

33,081

27,105

-

-

-

-

-

-

-

Net income from discontinued operations attributable to non-controlling interests Principal Equityholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,025

0

0

41,381

7,912

12,160

7,380

3,142

-

-

-

-

-

-

-

Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

24,259

42,602

-

-

Net (income) loss attributable to non-controlling interests - Principal Equityholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

38,840

-83,720

24,259

-

-

-

Net (loss)/income available to Taylor Morrison Home Corporation

-31,431

54,658

67,012

81,851

51,131

9,185

93,568

58,678

44,933

19,467

32,876

27,401

11,476

19,281

14,837

11,685

6,813

17,666

12,344

5,077

25,962

27,875

17,846

14,816

10,932

-

14,263

5,327

-

42,602

28,858

10,559

(Loss)/earnings per common share
Earnings Per Share, Basic [Abstract]
Basic (usd per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.53

0.37

0.15

0.33

0.76

0.40

0.37

0.30

-

-

-

-

-

-

-

Discontinued operations - net of tax (usd per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.01

0.00

0.00

0.46

0.09

0.14

0.08

0.03

-

-

-

-

-

-

-

Basic (usd per share)

-0.26

-

0.64

0.77

0.46

-

0.84

0.53

0.42

-

0.45

0.46

0.30

0.62

0.49

0.37

0.21

0.54

0.37

0.15

0.79

0.85

0.54

0.45

0.33

-

0.43

0.16

-

-

-

-

Earnings per common share — diluted:
Diluted (usd per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.53

0.37

0.15

0.33

0.76

0.40

0.37

0.30

-

-

-

-

-

-

-

Discontinued operations - net of tax (usd per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.01

0.00

0.00

0.46

0.09

0.14

0.08

0.03

-

-

-

-

-

-

-

Diluted (usd per share)

-0.26

-

0.63

0.76

0.46

-

0.83

0.52

0.41

-

0.45

0.46

0.30

0.62

0.49

0.37

0.21

0.54

0.37

0.15

0.79

0.85

0.54

0.45

0.33

-

0.43

0.16

-

-

-

-

Weighted average number of shares of common stock:
Basic (in shares)

121,908

105,766

105,472

106,238

110,512

117,034

111,396

111,347

107,195

78,242

72,471

58,977

38,554

30,412

30,427

31,574

31,923

32,987

33,122

33,076

33,067

33,059

32,956

32,875

32,858

-

32,858

32,806

-

-

-

-

Diluted (in shares)

121,908

107,404

106,852

107,232

111,668

118,787

113,440

113,482

114,767

120,938

121,183

121,061

120,478

120,906

120,103

121,052

121,267

122,314

122,458

122,409

122,355

122,216

122,338

122,354

122,344

-

122,317

122,327

-

-

-

-

Home closings
Revenue

1,264,640

1,418,232

1,073,110

1,232,261

899,881

1,411,524

1,014,168

956,565

732,959

1,272,231

886,249

889,096

751,485

1,154,366

812,185

829,882

629,088

934,799

779,190

682,387

493,592

965,668

615,736

582,859

455,295

373,022

622,126

496,033

366,769

302,899

305,419

-

Cost of home/land closings

1,070,503

-

874,102

1,010,069

735,797

-

822,950

784,521

594,906

-

721,637

724,505

616,295

949,015

658,507

679,685

514,532

764,132

635,935

553,652

405,104

778,225

488,250

460,044

356,300

284,707

489,713

394,203

288,831

235,517

246,031

-

Land closings
Revenue

22,939

12,690

4,420

5,858

4,113

21,566

5,170

7,997

5,168

5,674

4,299

3,764

3,356

19,597

27,418

10,936

6,602

21,057

5,782

8,743

8,188

33,462

5,027

5,974

8,918

8,766

4,524

5,616

8,854

13,452

7,410

-

Cost of home/land closings

27,132

-

2,934

3,792

2,692

-

3,979

6,444

4,281

-

3,002

2,467

2,400

15,415

8,179

6,686

5,632

11,395

3,919

4,566

4,666

23,936

3,938

4,964

6,858

6,899

6,120

5,653

7,644

8,918

7,472

-

Amenity
Revenue

30,081

4,816

4,321

4,488

5,054

4,518

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cost of home/land closings

29,661

-

4,166

4,746

3,842

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

TMM Holdings Limited Partnership [Member]
Home closing revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

220,903

Land closing revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,240

Mortgage operations revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,283

Total revenues

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

239,426

Cost of home closings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

182,108

Cost of land closings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,491

Mortgage operations expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,029

Total cost of revenues

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

195,628

Gross margin

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

43,798

Sales, commissions and other marketing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,776

General and administrative expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17,633

Equity in net income of unconsolidated entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,180

Interest income, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

63

Other expense, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-211

Indemnification income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,636

Income before income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16,057

Income tax provision

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,498

Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,559

Income attributable to noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

262

Net income attributable to Owners

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,297

Basic and diluted

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.02

Basic and diluted

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

623,620