{"id":10088,"date":"2023-11-30T22:25:09","date_gmt":"2023-12-01T04:25:09","guid":{"rendered":"https:\/\/1reason.com\/re\/lgi-homes-reports-third-quarter-2023-results-and-updates-full-year-2023-guidance\/10088\/"},"modified":"2023-12-01T16:25:09","modified_gmt":"2023-12-01T22:25:09","slug":"lgi-homes-reports-third-quarter-2023-results-and-updates-full-year-2023-guidance","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/lgi-homes-reports-third-quarter-2023-results-and-updates-full-year-2023-guidance\/10088\/","title":{"rendered":"LGI Homes Reports Third Quarter 2023 Results and Updates Full Year 2023 Guidance"},"content":{"rendered":"<div>  <\/p>\n<p align=\"justify\"><strong><em>Third<\/em><\/strong><strong><em> Quarter <\/em><\/strong><strong><em>2023<\/em><\/strong><strong><em> Highlights <\/em><\/strong><\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:4pt;text-align:justify\">Net Income of $67.0 million, or $2.85 Basic EPS and $2.84 Diluted EPS<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Net Income Before Income Taxes of $89.4 million<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Home Sales Revenues of $617.5 million<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Home Closings of 1,751<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Average Sales Price per Home Closed of $352,678<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Gross Margin as a Percentage of Homes Sales Revenues of 25.7%<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Adjusted Gross Margin* as a Percentage of Home Sales Revenues of 27.2%<\/li>\n<\/ul>\n<p align=\"justify\"><strong><em>Nine Months Ended September 30, 2023 Highlights<\/em><\/strong><\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:4pt;text-align:justify\">Net Income of $147.1 million, or $6.24 Basic EPS and $6.21 Diluted EPS<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Net Income Before Income Taxes of $193.2 million<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Home Sales Revenues of $1.8 billion<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Home Closings of 4,971<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Average Sales Price per Home Closed of $352,075<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Gross Margin as a Percentage of Homes Sales Revenues of 22.8%<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Adjusted Gross Margin* as a Percentage of Home Sales Revenues of 24.5%<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Active Selling Communities at September30, 2023 of 106<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Net Orders of 5,646<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Ending Backlog at September 30, 2023 of 1,377 homes valued at $509.9 million<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Total Owned and Controlled Lots at September 30, 2023 of 72,109<\/li>\n<\/ul>\n<p align=\"justify\"><em>*Non-GAAP<\/em><\/p>\n<p align=\"justify\"><em>Please see \u201c<\/em><em><u>Non-GAAP Measures<\/u><\/em><em>\u201d for a reconciliation of Adjusted Gross Margin (a non-GAAP measure) to Gross Margin, the most directly comparable GAAP measure.<\/em><\/p>\n<p><strong><em>Balance Sheet Highlights<\/em><\/strong><\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:4pt;text-align:justify\">Total liquidity of $243.2 million at September30, 2023, including cash and cash equivalents of $47.0 million and $196.2 million of availability under the Company\u2019s revolving credit facility<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Net debt to capitalization of 38.8% at September30, 2023<\/li>\n<\/ul>\n<p align=\"justify\"><strong>Management Comments<\/strong><\/p>\n<p align=\"justify\">\u201cOur outstanding results in the third quarter, including the significant progress we made on increasing our profitability metrics, demonstrate the success of our operational initiatives and the resilience of our business model in the face of challenging market conditions,\u201d said Eric Lipar, Chairman and Chief Executive Officer of LGI Homes.<\/p>\n<p align=\"justify\">\u201cAlong with double-digit, year-over-year growth in closings, revenue and community count, we made significant progress on our profitability objectives. I am pleased to report that our gross margins are back in-line with their pre-pandemic, historical levels. In the third quarter, we delivered gross margins of 25.7% and adjusted gross margins of 27.2%. The 340 basis point sequential improvement in our adjusted gross margins outperformed the 150 basis point guidance we provided last quarter. Additionally, we delivered a pre-tax profit margin of 14.5%, also representing a 340 basis point sequential improvement and higher than any other third quarter result delivered prior to the pandemic. These outstanding results are a testament to the focused execution of our teams around the country. Undeterred by volatile rate movements and market uncertainty, our dedicated employees continue to construct, sell and close homes while delivering the best service in the industry.\u201d<\/p>\n<p align=\"justify\">Mr. Lipar concluded, \u201cDespite the current headwinds, the fundamentals underlying the housing market remain strong and our long-term outlook for the industry is positive. Based on our performance year to date and a strong start to the fourth quarter, we are well-positioned to achieve all of our goals and objectives for 2023 and beyond.\u201d<\/p>\n<p align=\"justify\"><strong>Full Year 2023 Outlook <\/strong><\/p>\n<p align=\"justify\">Subject to the caveats in the Forward-Looking Statements section of this press release, the Company is providing the following updates to its guidance for the full year 2023. The Company now expects:<\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:4pt;text-align:justify\">Home closings between 6,700 and 7,000<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Active selling communities at the end of 2023 between 115 and 125<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Average sales price per home closed between $350,000 and $355,000<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Gross margin as a percentage of home sales revenues between 23.0% and 23.5%<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Adjusted gross margin (non-GAAP) as a percentage of home sales revenues between 24.5% and 25.0% with capitalized interest accounting for the majority of the difference between gross margin and adjusted gross margin<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">SG&amp;A as a percentage of home sales revenues of approximately 13.0%<\/li>\n<li style=\"margin-top:4pt;text-align:justify\">Effective tax rate of approximately 24.0%<\/li>\n<\/ul>\n<p align=\"justify\">This outlook assumes that general economic conditions, including input costs, materials, product and labor availability, interest rates and mortgage availability, in the remainder of 2023 are similar to those experienced so far in the fourth quarter of 2023 and that construction costs, availability of land and land development costs in the remainder of 2023 are consistent with the Company\u2019s recent experience. In addition, this outlook assumes that governmental regulations relating to land development and home construction are similar to those currently in place.<\/p>\n<p align=\"justify\"><strong>Earnings Conference Call<\/strong><\/p>\n<p align=\"justify\">The Company will host a conference call via live webcast for investors and other interested parties beginning at 12:30 p.m. Eastern Time on Tuesday, October31, 2023 (the \u201cEarnings Call\u201d).<\/p>\n<p align=\"justify\">Participants may access the live webcast by visiting the Investor Relations section of the Company\u2019s website at www.lgihomes.com.<\/p>\n<p align=\"justify\">An archive of the webcast will be available for replay on the Company\u2019s website for one year from the date of the conference call.<\/p>\n<p align=\"justify\"><strong>About LGI Homes, Inc.<\/strong><\/p>\n<p align=\"justify\">Headquartered in The Woodlands, Texas, LGI Homes, Inc. is a pioneer in the homebuilding industry, successfully applying an innovative and systematic approach to the design, construction and sale of homes across 36 markets in 21 states. As one of America\u2019s fastest growing companies, LGI Homes has closed over 65,000 homes since its founding in 2003 and has delivered profitable financial results every year. Nationally recognized for its quality construction and exceptional customer service, LGI Homes was named to Newsweek\u2019s list of the Worlds\u2019s Most Trustworthy Companies. LGI Homes\u2019 commitment to excellence extends to its more than 1,000 employees, earning the Company numerous workplace awards at the local, state and national level, including the Top Workplaces USA 2023 Award. For more information about LGI Homes and its unique operating model focused on making the dream of homeownership a reality for families across the nation, please visit the Company\u2019s website at www.lgihomes.com.<\/p>\n<p align=\"justify\"><strong>Forward-Looking Statements<\/strong><\/p>\n<p align=\"justify\">Any statements made in this press release or on the Earnings Call that are not statements of historical fact, including statements about the Company\u2019s beliefs and expectations, are forward-looking statements within the meaning of the federal securities laws, and should be evaluated as such. Forward-looking statements include information concerning projected 2023 home closings, active selling communities, average sales price per home closed, gross margin as a percentage of home sales revenues, adjusted gross margin as a percentage of homes sales revenues, SG&amp;A as a percentage of home sales revenues and effective tax rate, as well as market conditions and possible or assumed future results of operations, including descriptions of the Company\u2019s business plan and strategies. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cforecast,\u201d \u201cgoal,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cobjective,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cprojection,\u201d \u201cshould,\u201d \u201cwill\u201d or, in each case, their negative, or other variations or comparable terminology. For more information concerning factors that could cause actual results to differ materially from those contained in the forward-looking statements please refer to the \u201cRisk Factors\u201d section in the Company\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, including the \u201cCautionary Statement about Forward-Looking Statements\u201d subsection within the \u201cRisk Factors\u201d section, the \u201cRisk Factors\u201d and \u201cCautionary Statement about Forward-Looking Statements\u201d sections in the Company\u2019s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023 and September 30, 2023 and subsequent filings by the Company with the Securities and Exchange Commission. The Company bases these forward-looking statements or projections on its current expectations, plans and assumptions that it has made in light of its experience in the industry, as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances and at such time. As you read and consider this press release or listen to the Earnings Call, you should understand that these statements are not guarantees of future performance or results. The forward-looking statements and projections are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements or projections. Although the Company believes that these forward-looking statements and projections are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect the Company\u2019s actual results to differ materially from those expressed in the forward-looking statements and projections. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. If the Company does update one or more forward-looking statements, there should be no inference that it will make additional updates with respect to those or other forward-looking statements.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"9\" style=\"vertical-align: bottom\" \/><\/tr>\n<tr>\n<td colspan=\"9\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>LGI HOMES, INC.<\/strong><br \/><strong>CONSOLIDATED BALANCE SHEETS<\/strong><br \/><strong>(Unaudited)<\/strong><br \/><strong>(In thousands, except share data)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" style=\"vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>September 30,<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>December 31,<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:72%;width:72%;min-width:72%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2023<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2022<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\"><strong>ASSETS<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: middle;vertical-align: bottom\">Cash and cash equivalents<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">46,981<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">31,998<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: middle;vertical-align: bottom\">Accounts receivable<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">35,651<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">25,143<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: middle;vertical-align: bottom\">Real estate inventory<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">3,056,966<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2,898,296<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: middle;vertical-align: bottom\">Pre-acquisition costs and deposits<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">34,661<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">25,031<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: middle;vertical-align: bottom\">Property and equipment, net<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">41,872<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">32,997<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: middle;vertical-align: bottom\">Other assets<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">97,238<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">93,159<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: middle;vertical-align: bottom\">Deferred tax assets, net<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">9,624<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">6,186<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: middle;vertical-align: bottom\">Goodwill<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">12,018<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">12,018<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: middle;vertical-align: bottom\">Total assets<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">3,335,011<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">3,124,828<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: double black 3pt;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: double black 3pt;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\"><strong>LIABILITIES AND EQUITY<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: middle;vertical-align: bottom\">Accounts payable<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">67,289<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">25,287<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: middle;vertical-align: bottom\">Accrued expenses and other liabilities<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">274,681<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">340,128<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: middle;vertical-align: bottom\">Notes payable<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,190,366<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,117,001<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: middle;vertical-align: bottom\">Total liabilities<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,532,336<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,482,416<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\"><strong>COMMITMENTS AND CONTINGENCIES<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\"><strong>EQUITY<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Common stock, par value $0.01, 250,000,000 shares authorized, 27,503,340 shares issued and 23,563,868 shares outstanding as of September 30, 2023 and 27,245,278 shares issued and 23,305,806 shares outstanding as of December 31, 2022<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">275<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">272<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: middle;vertical-align: bottom\">Additional paid-in capital<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">319,795<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">306,673<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: middle;vertical-align: bottom\">Retained earnings<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,837,627<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,690,489<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Treasury stock, at cost, 3,939,472 shares as of September 30, 2023 and December 31, 2022<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">(355,022<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">(355,022<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: middle;vertical-align: bottom\">Total equity<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,802,675<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,642,412<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: middle;vertical-align: bottom\">Total liabilities and equity<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">3,335,011<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">3,124,828<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td colspan=\"9\" style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<\/table>\n<p align=\"center\"><\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"17\" style=\"vertical-align: bottom\" \/><\/tr>\n<tr>\n<td colspan=\"17\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>LGI HOMES, INC.<\/strong><br \/><strong>CONSOLIDATED STATEMENTS OF OPERATIONS<\/strong><br \/><strong>(Unaudited)<\/strong><br \/><strong>(In thousands, except share and per share data)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"17\" style=\"vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Three Months Ended September 30,<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Nine Months Ended September 30,<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:44%;width:44%;min-width:44%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2023<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2022<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2023<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2022<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Home sales revenues<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">617,539<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">547,074<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,750,166<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,816,193<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Cost of sales<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">458,734<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">391,275<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,350,608<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,270,628<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Selling expenses<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">49,781<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">33,938<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">141,811<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">111,605<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">General and administrative<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">26,748<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">27,284<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">84,334<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">84,657<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: middle;vertical-align: bottom\">Operating income<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">82,276<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">94,577<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">173,413<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">349,303<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Other income, net<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">(7,173<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">(14,124<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">(19,793<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">(21,960<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Net income before income taxes<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">89,449<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">108,701<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">193,206<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">371,263<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Income tax provision<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">22,407<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">18,311<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">46,068<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">78,811<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Net income<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">67,042<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">90,390<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">147,138<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">292,452<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Earnings per share:<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: middle;vertical-align: bottom\">Basic<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2.85<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">3.88<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">6.24<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">12.42<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: middle;vertical-align: bottom\">Diluted<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2.84<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">3.85<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">6.21<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">12.29<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Weighted average shares outstanding:<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: middle;vertical-align: bottom\">Basic<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">23,546,061<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">23,272,811<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">23,562,374<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">23,552,211<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: middle;vertical-align: bottom\">Diluted<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">23,640,686<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">23,488,325<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">23,696,095<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">23,805,086<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td colspan=\"17\" style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<\/table>\n<p align=\"justify\"><strong><em>Non-GAAP Measures<\/em><\/strong><\/p>\n<p align=\"justify\">In addition to the results reported in accordance with accounting principles generally accepted in the United States (\u201cGAAP\u201d), the Company has provided information in this press release relating to adjusted gross margin.<\/p>\n<p align=\"justify\"><strong>Adjusted Gross Margin<\/strong><\/p>\n<p align=\"justify\">Adjusted gross margin is a non-GAAP financial measure used by management as a supplemental measure in evaluating operating performance. The Company defines adjusted gross margin as gross margin less capitalized interest and adjustments resulting from the application of purchase accounting included in the cost of sales. Management believes this information is useful because it isolates the impact that capitalized interest and purchase accounting adjustments have on gross margin. However, because adjusted gross margin information excludes capitalized interest and purchase accounting adjustments, which have real economic effects and could impact results, the utility of adjusted gross margin information as a measure of operating performance may be limited. In addition, other companies may not calculate adjusted gross margin information in the same manner that the Company does. Accordingly, adjusted gross margin information should be considered only as a supplement to gross margin information as a measure of the Company\u2019s performance.<\/p>\n<p align=\"justify\">The following table reconciles adjusted gross margin to gross margin, which is the GAAP financial measure that management believes to be most directly comparable (dollars in thousands, unaudited):<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Three Months Ended September 30,<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Nine Months Ended September 30,<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:44%;width:44%;min-width:44%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2023<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2022<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2023<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2022<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Home sales revenues<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">617,539<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">547,074<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,750,166<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,816,193<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Cost of sales<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">458,734<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">391,275<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,350,608<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,270,628<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Gross margin<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">158,805<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">155,799<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">399,558<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">545,565<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">Capitalized interest charged to cost of sales<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">8,580<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4,617<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">24,475<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">14,865<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">Purchase accounting adjustments<sup> (1)<\/sup><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">767<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,162<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5,511<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5,470<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Adjusted gross margin<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">168,152<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">161,578<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">429,544<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">565,900<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Gross margin % <sup>(2)<\/sup><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">25.7<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">28.5<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">22.8<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">30.0<\/td>\n<td style=\"border-top: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Adjusted gross margin % <sup>(2)<\/sup><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">27.2<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">29.5<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">24.5<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">31.2<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\">(1)<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\" \/>\n<td style=\"max-width:97%;width:97%;min-width:97%;vertical-align: top\">Adjustments result from the application of purchase accounting for acquisitions and represent the amount of the fair value step-up adjustments included in cost of sales for real estate inventory sold after the acquisition dates.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\">(2)<\/td>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\">Calculated as a percentage of home sales revenues.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\" \/><\/tr>\n<\/table>\n<p><strong>Home Sales Revenues, Home Closings, Average Sales Price Per Home Closed (ASP), Average Community Count, Average Monthly Absorption Rates and Closing Community Count by Reportable Segment<\/strong><\/p>\n<p align=\"justify\"><strong><em>(Revenues in thousands, unaudited)<\/em><\/strong><\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"11\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Three Months Ended September 30, 2023<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>As of <\/strong><strong>September30, 2023<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\"><strong>Reportable Segment<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Revenues<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Home<br \/>Closings<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>ASP<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Average<br \/>Community<br \/>Count<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Average<br \/><\/strong><strong>Monthly<br \/><\/strong><strong>Absorption<br \/>Rate<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Community<br \/>Count at End of<br \/>Period<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:28%;width:28%;min-width:28%;border-top: solid black 1pt;vertical-align: middle\">Central<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle\">183,615<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">561<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle\">327,299<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">34.7<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">5.4<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">34<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">Southeast<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle\">149,593<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">452<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle\">330,958<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">23.7<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">6.4<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">24<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">Northwest<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle\">67,666<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">131<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle\">516,534<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">11.0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">4.0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">11<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">West<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle\">94,950<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">249<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle\">381,325<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">14.3<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">5.8<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\">15<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">Florida<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle\">121,715<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">358<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle\">339,986<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">20.0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">6.0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle\">22<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">Total<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle\">617,539<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle\">1,751<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle\">352,678<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle\">103.7<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle\">5.6<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle\">106<\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\" style=\"vertical-align: middle\" \/><\/tr>\n<\/table>\n<p><\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"11\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Three Months Ended September 30, 2022<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>As of <\/strong><strong>September30, 2022<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\"><strong>Reportable Segment<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Revenues<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Home<br \/>Closings<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>ASP<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Average<br \/>Community<br \/>Count<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Average<br \/><\/strong><strong>Monthly<br \/><\/strong><strong>Absorption<br \/>Rate<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Community<br \/>Count at End of<br \/>Period<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:28%;width:28%;min-width:28%;border-top: solid black 1pt;vertical-align: middle;vertical-align: bottom\">Central<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">228,448<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">681<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">335,460<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">33.0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">6.9<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">34<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Southeast<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">138,478<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">419<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">330,496<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">23.3<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">6.0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">24<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Northwest<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">46,774<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">95<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">492,358<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">7.0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">4.5<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">7<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">West<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">65,064<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">155<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">419,768<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">11.0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">4.7<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">11<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Florida<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">68,310<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">197<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">346,751<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">18.7<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">3.5<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">17<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Total<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">547,074<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,547<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">353,635<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">93.0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5.5<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">93<\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\" style=\"vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<\/table>\n<p><\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"11\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Nine Months Ended September 30, 2023<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\"><strong>Reportable Segment<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Revenues<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Home<br \/>Closings<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>ASP<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Average<br \/>Community<br \/>Count<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Average<br \/><\/strong><strong>Monthly<br \/><\/strong><strong>Absorption<br \/>Rate<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:40%;width:40%;min-width:40%;border-top: solid black 1pt;vertical-align: middle;vertical-align: bottom\">Central<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">564,580<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,724<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">327,483<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">35.3<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5.4<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Southeast<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">397,618<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,216<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">326,988<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">24.1<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5.6<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Northwest<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">212,885<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">433<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">491,651<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">10.1<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">4.8<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">West<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">256,575<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">672<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">381,808<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">13.3<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5.6<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Florida<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">318,508<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">926<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">343,961<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">18.3<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5.6<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Total<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,750,166<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">4,971<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">352,075<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">101.1<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5.5<\/td>\n<\/tr>\n<tr>\n<td colspan=\"13\" style=\"vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<\/table>\n<p><\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"11\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Nine Months Ended September 30, 2022<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\"><strong>Reportable Segment<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Revenues<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Home<br \/>Closings<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>ASP<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Average<br \/>Community<br \/>Count<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Average<br \/>Monthly<br \/><\/strong><strong>Absorption<br \/>Rate<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:40%;width:40%;min-width:40%;border-top: solid black 1pt;vertical-align: middle;vertical-align: bottom\">Central<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">807,400<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2,460<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">328,211<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">31.3<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">8.7<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Southeast<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">328,510<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,018<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">322,701<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">21.0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5.4<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Northwest<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">220,440<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">429<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">513,846<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">8.6<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5.5<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">West<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">244,603<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">598<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">409,035<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">11.2<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5.9<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Florida<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">215,240<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">668<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">322,216<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">19.0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">3.9<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Total<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,816,193<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5,173<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">351,091<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">91.1<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">6.3<\/td>\n<\/tr>\n<tr>\n<td colspan=\"13\" style=\"vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<\/table>\n<p><strong>Owned and Controlled Lots<\/strong><\/p>\n<p align=\"justify\">The table below shows (i) home closings by reportable segment for the nine months ended September30, 2023 and (ii) owned or controlled lots by reportable segment as of September30, 2023.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Nine Months Ended<br \/>September 30, 2023<\/strong><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td colspan=\"5\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>As of September 30, 2023<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:44%;width:44%;min-width:44%;border-bottom: solid black 1pt;vertical-align: bottom\"><strong>Reportable Segment<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\" \/>\n<td style=\"max-width:13%;width:13%;min-width:13%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Home Closings<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\" \/>\n<td style=\"max-width:13%;width:13%;min-width:13%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Owned<\/strong><sup><strong> (1)<\/strong><\/sup><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"max-width:13%;width:13%;min-width:13%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Controlled<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td style=\"max-width:13%;width:13%;min-width:13%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Total<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;vertical-align: middle;vertical-align: bottom\">Central<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,724<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">21,048<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">3,624<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">24,672<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Southeast<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,216<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">14,756<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">4,907<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">19,663<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Northwest<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">433<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5,981<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2,138<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">8,119<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">West<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">672<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">9,176<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2,195<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">11,371<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Florida<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">926<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5,340<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2,944<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">8,284<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Total<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">4,971<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">56,301<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">15,808<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">72,109<\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\">(1)<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\" \/>\n<td style=\"max-width:97%;width:97%;min-width:97%;vertical-align: top\">Of the 56,301 owned lots as of September30, 2023, 42,618 were raw\/under development lots and 13,683 were finished lots. Finished lots included 1,471 completed homes, including information centers, and 3,009 homes in progress.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\" \/><\/tr>\n<\/table>\n<p><strong>Backlog Data<\/strong><\/p>\n<p align=\"justify\">As of the dates set forth below, the Company\u2019s net orders, cancellation rate and ending backlog homes and value were as follows (dollars in thousands, unaudited):<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td rowspan=\"2\" style=\"vertical-align: bottom\"><strong><u>Backlog Data<\/u><\/strong><\/p>\n<\/td>\n<td rowspan=\"2\" style=\"vertical-align: bottom\" \/>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>Nine Months Ended September 30,<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2023 <\/strong><sup><strong>(4)<\/strong><\/sup><\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\"><strong>2022 <\/strong><sup><strong>(5)<\/strong><\/sup><\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:72%;width:72%;min-width:72%;vertical-align: middle;vertical-align: bottom\">Net orders <sup>(1)<\/sup><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">5,646<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">4,373<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Cancellation rate <sup>(2)<\/sup><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">22.8<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">21.0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Ending backlog\u2013homes <sup>(3)<\/sup><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,377<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1,255<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<tr>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Ending backlog\u2013value <sup>(3)<\/sup><\/td>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">509,932<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/>\n<td style=\"vertical-align: bottom\" \/>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">428,293<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\" \/><\/tr>\n<\/table>\n<p><\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\" \/>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\">(1)<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\" \/>\n<td style=\"max-width:97%;width:97%;min-width:97%;vertical-align: top\">Net orders are new (gross) orders for the purchase of homes during the period, less cancellations of existing purchase contracts during the period.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\">(2)<\/td>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\">Cancellation rate for a period is the total number of purchase contracts cancelled during the period divided by the total new (gross) orders for the purchase of homes during the period.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\">(3)<\/td>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\">Ending backlog consists of homes at the end of the period that are under a purchase contract that has been signed by homebuyers who have met preliminary financing criteria but have not yet closed and wholesale contracts with varying terms. Ending backlog is valued at the contract amount.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\">(4)<\/td>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\">As of September30, 2023, the Company had 273 units related to bulk sales agreements associated with its wholesale business.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\">(5)<\/td>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\">As of September30, 2022, the Company had 591 units related to bulk sales agreements associated with its wholesale business.<\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:11%;width:11%;min-width:11%\">CONTACT:<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%\" \/>\n<td style=\"max-width:88%;width:88%;min-width:88%\">Joshua D. Fattor<\/td>\n<\/tr>\n<tr>\n<td \/>\n<td \/>\n<td>Vice President of Investor Relations and Capital Markets<\/td>\n<\/tr>\n<tr>\n<td \/>\n<td \/>\n<td>(281) 210-2586<\/td>\n<\/tr>\n<tr>\n<td \/>\n<td \/>\n<td>investorrelations@lgihomes.com<\/td>\n<\/tr>\n<\/table>\n<p><img src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/media\/MzQ1NjlhZGYtYzgwOS00Y2I2LWE0ZjEtODg2ZGYyNGJlNjYyLTEwMTYyNjE=\/tiny\/LGI-Homes-Inc-.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"justify\">THE WOODLANDS, Texas, Oct. 31, 2023 (GLOBE NEWSWIRE) &#8212; LGI Homes, Inc. (NASDAQ: LGIH) today announced financial results for the third quarter and nine months ended September30, 2023.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/10088"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=10088"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/10088\/revisions"}],"predecessor-version":[{"id":10116,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/10088\/revisions\/10116"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=10088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=10088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=10088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}