“Other income, income from unconsolidated entities and land sales gross profit is expected to be approximately $10 million in the first quarter and $125 million for the full year.”

In context

“quarter of fiscal year 2023 and for the full year to be approximately 27%. We expect interest and cost of sales to be approximately 1.6% in the first quarter and 1.5% for the full year. This would represent a 20 basis point reduction in interest expense in cost of sales year-over-year as our leverage continues to decline. We project first quarter SG&A as a percentage of home sales revenues to be approximately 13.5% versus 13.4% one year ago. Included in first quarter SG&A is about $12 million of our annual accelerated stock compensation expense that should not recur in the remainder of the year. It was approximately $10 million last year. For the full year, we project SG&A as a percentage of home sales revenues to be approximately 11.3% and expect total dollar spend to be flat with 2022. Other income, income from unconsolidated entities and land sales gross profit is expected to be approximately $10 million in the first quarter and $125 million for the full year. Much of this full year income is projected from sales of our interest in certain stabilized apartment communities developed by Toll Brothers Apartment Living in joint venture with various partners. While the market for rental properties is currently being disrupted by the volatility in rates and economic uncertainty, we do project selling our interest in four of our joint ventures by the end of the fiscal year. We project the first quarter and full year tax rate of approximately 26%. Our weighted average share count is expected to be approximately 112.5 million for the first quarter and 110 million shares for the full 2023 year. This assumes we repurchased a targeted $100 million of common stock per quarter. Based on land we currently own or control, we expect to grow community count by”