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MERITAGE HOMES   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2021202020192018201720162015201420132012
Period End Date12/31/202112/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/2012
Financial Services-Revenue21.2119.1016.4615.1614.2012.5111.3810.126.040.78
Home closing revenue5,094.874,464.393,604.633,474.713,186.783,003.432,531.562,142.391,783.391,184.36
Land closing revenue25.2417.7345.8538.7140.0025.8036.5327.2531.279.31
Total Revenue5,141.324,501.223,666.943,528.583,240.983,041.732,579.462,179.761,820.701,194.45
Cost of home closings3,676.503,483.982,923.972,842.762,624.642,474.582,049.641,688.681,391.48966.38
Cost of land closings26.3238.5346.9041.5035.6423.4329.7428.3526.779.09
Home impairments--------------------
Land impairments--------------------
Real estate impairments--------------------
Home closing gross profit1,418.38980.41680.66631.95562.14528.84481.92453.72391.91217.98
Land closing gross profit(1.08)(20.79)(1.05)(2.80)4.362.376.79(1.10)4.500.22
Financial Services gross profit21.2119.1016.4615.1614.2012.5111.3810.126.040.78
General and administrative expenses181.45159.02146.09138.48124.04123.80112.85104.6091.5168.19
Commissions and other sales costs285.40287.90246.73241.90221.65215.09188.42156.74126.7294.83
Financial Services-Expense(9.18)(7.80)(6.78)(6.45)(6.01)(5.59)(5.20)(4.81)(3.27)(0.98)
Financial Services- Earnings from financial services unconsolidated entities and other, net6.015.0910.9015.3413.8614.9813.1010.8713.1810.46
Interest expense0.322.188.370.793.855.1715.975.1615.0924.24
Goodwill and related impairments--------------------
Earnings from unconsolidated entities, net----------4.06(0.34)(0.45)(0.38)(0.22)
Other income (loss) net4.866.669.5811.228.784.95(0.95)6.572.79(6.34)
Income (Loss) on extinguishment of debt(18.19)--(5.64)--(0.28)------(3.80)(5.77)
Earnings/(loss) before income taxes954.83533.57302.95283.25247.52218.06189.46208.42177.6728.85
Current taxes:Federal180.4799.1741.0237.9376.9955.5553.5158.4643.68(0.59)
Current taxes:State39.9321.0111.649.168.017.082.731.131.350.12
Deferred taxes:Federal(4.03)(9.73)(0.01)6.6918.924.06(1.65)(3.47)10.23(62.58)
Deferred taxes:State1.02(0.37)0.632.150.351.836.1410.05(2.04)(13.26)
Provision (benefit) for income taxes217.39110.0953.2855.92104.2668.5260.7366.1853.21(76.31)
Earnings before extraordinary items--------------------
Net income/(loss) allocable to common shares737.44423.48249.66227.33143.26149.54128.74142.24124.46105.16
Earnings before extraordinary items--------------------
Earnings per common share:Basic19.6111.236.555.673.563.743.253.653.453.09
Earnings before extraordinary items--------------------
Earnings per common share:Diluted19.2911.006.425.583.413.553.093.463.253.00
Weighted average number of shares:Basic37.6137.7238.1040.1140.2939.9839.5939.0236.1134.06
Weighted average number of shares:Diluted38.2338.4838.8940.7342.2342.5942.1641.6138.8035.17