Item 5. Market for Registrant’s Common Equity
ITEM 5 . MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.
Market Information
The shares of our common stock are listed on the New York Stock Exchange under the symbol, “CCS.”
Holders
As of January 25, 2021, there were approximately 50 stockholders of record of our common stock.
Dividends
During the years ended December 31, 2020 and 2019, we did not declare or pay any dividends. The agreements governing our indebtedness, including our revolving line of credit and the indentures that govern our senior notes, limit our ability to pay dividends.
Issuer Purchases of Equity Securities
On November 6, 2018, the Company's Board of Directors authorized a stock repurchase program, under which we may repurchase up to 4,500,000 shares of our outstanding common stock. Under the terms of the program, the shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions or by other means in accordance with federal securities laws. This program has no expiration date but may be terminated by the Board of Directors at any time. The Company repurchased 687,061 shares throughout the duration of this program and 3,812,939 shares remained available to repurchase under this program as of December 31, 2020. No shares were repurchased by the Company during the year ended December 31, 2020.
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Stock Performance Graph
The graph below compares the cumulative total return of our common stock, the S&P 500 Index, the Dow Jones US Home Construction Index, and peer group companies for the periods from December 31, 2015 to December 31, 2020.
It is assumed in the graph that $100 was invested in each of (1) our common stock; (2) the stocks of the companies in the Standard & Poor’s 500 Stock Index; (3) the stocks of the Dow Jones U.S. Home Construction Index; and (4) the stocks of the peer group companies, just prior to the commencement of the period and that all dividends received within a quarter were reinvested in that quarter. The peer group index is composed of the following companies: Beazer Homes USA, Inc., M/I Homes, Inc., M.D.C. Holdings, Inc., and Tri Pointe Homes, Inc.
The stock price performance shown on the following graph is not indicative of future price performance.
Comparison of Cumulative Total Return from December 31, 2015 to December 31, 2020
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ITEM 6 . SELECTED FINANCIAL DATA.
The data in this table should be read in conjunction with “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and related notes thereto, which are included in “Item 8. Consolidated Financial Statements.”
(in thousands, except per share amounts)
Year Ended December 31,
2020
2019
2018
2017
2016
Consolidated Statements of Operations:
Total revenues
$
3,161,192
$
2,535,911
$
2,147,413
$
1,423,799
$
994,440
Income before income tax expense
$
270,240
$
132,635
$
128,530
$
84,164
$
73,149
Net income
$
206,157
$
112,994
$
96,455
$
50,295
$
49,540
Basic earnings per share
$
6.19
3.66
3.20
2.06
2.34
Diluted earnings per share
$
6.13
3.62
3.17
2.03
2.33
Balance Sheet Data (end of period):
Cash and cash equivalents
$
394,001
$
55,436
$
32,902
$
88,832
$
29,450
Inventories
$
1,929,664
$
1,995,549
$
1,848,243
$
1,390,354
$
857,885
Total assets
$
2,845,093
$
2,499,967
$
2,254,255
$
1,735,022
$
1,007,528
Total debt
$
1,153,925
$
1,139,499
$
1,091,832
$
824,602
$
454,008
Total liabilities
$
1,564,388
$
1,438,268
$
1,394,896
$
999,789
$
533,892
Total stockholders' equity
$
1,280,705
$
1,061,699
$
859,359
$
735,233
$
473,636
Other Operating Information (dollars in thousands):
Number of homes delivered
9,453
8,000
6,099
3,640
2,825
Average sales price of homes delivered
$
320.2
$
310.2
$
346.0
$
386.1
$
346.5
Backlog at end of period, number of homes
3,439
2,070
2,181
1,320
749
Backlog at end of period, aggregate sales value
$
1,294,202
$
637,751
$
669,526
$
572,888
$
302,823
Average sales price of homes in backlog
$
376.3
$
308.1
$
306.9
$
434.0
$
404.3
Net new home contracts
10,822
7,861
5,657
3,814
2,860
Selling communities at period end (1)
198
212
203
119
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F
(1) The selling communities at period end for 2019 and 2018 have been adjusted from prior year presentations to reflect selling communities in our Century Complete segment of 95 and 81, respectively, which business was acquired in 2018, and for which selling communities were previously not disclosed.
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