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As part of our series The 46th, the hosts and guests on The Argument are debating what America under a Biden administration might and should look like.

This week, Ross Douthat is joined first by Jane Coaston, formerly of The Weeds, and future host of The Argument. Together they discuss the reasons for widespread theories of voter fraud among the Republican electorate and what led to such a moment. Then, the senior elections analyst of Real Clear Politics, Sean Trende, joins the pair to discuss the future of Trumpism and whether anybody else can capture the Republican Party quite like Donald Trump. And finally, Jane recommends building your character and your calf muscles.

How to listen to The Argument:

Press play or read the transcript (found by midday Friday above the center teal eye) at the top of this page, or tune in on iTunes, Google Play, Spotify, Stitcher or your preferred podcast listening app. Tell us what you think at argument@nytimes.com.

Ive been an Op-Ed columnist since 2009, and I write about politics, religion, pop culture, sociology and the places where they intersect. Im a Catholic and a conservative, in that order, which means that Im against abortion and critical of the sexual revolution, but I tend to agree with liberals that the Republican Party is too friendly to the rich. I was against Donald Trump in 2016 for reasons specific to Donald Trump, but in general I think the populist movements in Europe and America have legitimate grievances and I often prefer the populists to the reasonable elites. Ive written books about Harvard, the G.O.P., American Christianity and Pope Francis, and decadence. Benedict XVI was my favorite pope. I review movies for National Review and have strong opinions about many prestige television shows. I have four small children, three girls and a boy, and live in New Haven with my wife. @DouthatNYT

The Argument is a production of The New York Times Opinion section. The team includes Alison Bruzek, Phoebe Lett, Elisa Gutierrez, Vishakha Darbha, Kathy Tu, Kate Sinclair, Paula Szuchman and Isaac Jones. Special thanks to Corey Schreppel and Michelle Harris. Theme by Allison Leyton-Brown.

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The 46th: Who Will Replace Trump in the G.O.P.s Heart? - The New York Times

Copper thieves sent the Spaghetti Bowl into darkness a month ago, but work is underway to have the lights back on by the end of the year.

The replacement comes at an estimated cost of $300,000. The first cost of repairs was estimated at $70,000 for equipment and $70,000 for labor.

We now plan on having all 20 freeway light pole masts located near the downtown Las Vegas Spaghetti Bowl interchange corridor rewired by months end in time for New Years Eve, said Tony Illia, Nevada Department of Transportation spokesman. The increased figure is partly due to new security measures being installed in conjunction with the copper wire re-installation.

Illia declined to detail any of the new security devices so as not to inform possible thieves.

Law enforcement has made several arrests of suspected copper thieves since the outages occurred.

Thieves using power tools and other devices to speed their work stole enough wiring to knock out lighting several weeks ago, leaving only about 30 percent of the freeway lights illuminated along the Spaghetti Bowl corridor and creating a significant safety hazard for motorists.

As state crews worked to restore wiring and lighting, thieves struck again, delaying repairs that NDOT had hoped to be completed by Thanksgiving.

The price of copper has reached $3.29 per pound, up 55 percent from $2.13 per pound five years ago.

We are committed to Nevada motorists staying safe and connected, while undertaking the added theft deterrent measures, Illia said. Meanwhile, we advise motorist caution and attentiveness if traveling through the Spaghetti Bowl corridor at night.

Contact Marvin Clemons at mclemons@reviewjournal.com. Follow @Marv_in_Vegas on Twitter.

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Spaghetti Bowl lights may be back on soon after copper wire thefts - Las Vegas Review-Journal

By Jon Mark Beilue| Amarillo Globe-News

In less than nine months, in time for the Fall 2021 semester, West Texas A&M Universitys contribution to downtown Amarillo will be in full swing. A No Vacancy sign might as well hang from the door of the Harrington Academic Hall WTAMU Amarillo Center at Eighth Avenue and Tyler Street.

We will be full, said WT President Dr. Walter Wendler. For all practical purposes, we will be full to the top. There will be no more unused space. There will be hundreds of students and faculty in and out of that building all day long.

Construction and remodeling have begun on the final of three major pieces to occupy the Amarillo Center WTs School of Nursing. When completed by summer 2021, junior and senior nursing students will be in classes and labs on the second floor, first floor and basement of the building that was formerly the Commerce Building.

We are obviously looking forward to relocating there, said Dr. J. Dirk Nelson, Dean of the College of Nursing and Health Sciences. With the build-out and renovation, we will have 25,000 square feet dedicated to the bachelor of science nursing curriculum.

That renovation will include a new skills lab, simulation lab, assessment lab, debriefing room, seminar room and classrooms in addition to office space for 20 to 25. Students, faculty and staff also will benefit by being closer to the Texas Tech Health Sciences Center and Amarillos two largest hospitals Northwest Texas Healthcare System and BSA Health System.

Our nursing faculty is second to none, and it will be nice for them to be in a facility like this, Wendler said.

Over the past five years, graduating WT nursing students have a 96.56 percent passing rate on the NCLEX (National Council Licensure Examination), the test for entry-level nurses. The national average is 86.41 percent.

Our passing rate for the test is among the highest in the state of Texas, Wendler said. You cant do much better than 96 percent. You tell people youre doing better than that and they think youre lying.

Most of the nursing faculty is in Old Main on campus, but by the fall semester, they will be entirely out of there and relocated either in the Amarillo Center or the Bivins Learning Nursing Center on campus. The Bivins Center will continue to provide classes in pre-nursing for freshmen and sophomores.

The nursing program will join two departments within the College of Nursing and Health Sciences that have been there since the Amarillo Center opened in March 2019 the Department of Communication Disorders and the Center for Learning Disabilities.

Previously, Communications Disorders was located in the Virgil Henson Activities Center above the swimming pool.

Not ideal, said department chair Dr. Brenda Cross.

The relocation to downtown Amarillo may have positively impacted the WT Speech and Hearing Clinic, a major part of the department, more than any other group.

Moving the clinic was probably the biggest consideration we had to make, Cross said. So many of our clients are from Amarillo, so driving to Canyon did not seem like a big deal. But many physicians were not referring their patients to us because of the drive.

The WT Speech and Hearing Clinic is an outpatient clinic for speech, language and swallowing therapies where services are provided by graduate student clinicians who are supervised by licensed speech-language pathologists and audiologists.

Moving downtown has definitely opened us up as a referral source for local physicians, Cross said. Our client population in the last 1 years has more than tripled. Weve always seen the rural area patients, but weve definitely picked up a larger percentage of Amarillo patients.

Like nursing, pre-communication disorder students go through a second admission prior to their junior year based on grade point average and application. In past, upper-level students transitioned to classes from Old Main to the Activities Center to the Jack B. Kelley Student Center.

We were all over the place for classes, Cross said, so to be able to stay in one building, to have the clinic adjacent to all of our classes, has been seamless.

The other group the Center for Learning Disabilities actually had the shortest move. They were located in the former Chase Tower, less than a block away, but a little move means a lot.

Its been a wonderful opportunity, and one of the greatest differences is the clinic space we have now, said Dr. Michelle Simmons, director of the center and the Lanna Hatton Professor of Learning Disabilities.

The Center for Learning Disabilities focuses on three areas: working with parents and families for those in the home with a learning disability, providing student workshops, and assisting teachers with strategies to help those students to better cope and learn.

We have improved accessibility and a better useability of space, Simmons said. Its a welcoming and beautiful presence for what we do, which is to support and increase opportunities for students with learning disabilities, specifically with reading and attention disorders.

There are other entities in the Amarillo Center, including graduate programs in social work and psychology, and the Small Business Development Center. But the three largest departments will be together. Not only will several hundred be in one building daily to add to downtown commerce, but theres an expected synergy from all together.

We feel a little isolated being the only full-time program here, but having another complete program here from the same college in the building will bring a sense of a more WT feeling, Cross said. We can collaborate in clinics and class. It will make it feel like more of an extension of the main campus instead of out here feeling like its an island sometimes.

Editor's note: This column originally appeared on the WT website.

Do you know of a student, faculty member, project, an alumnus or any other story idea for WT: The Heart and Soul of the Texas Panhandle? If so, email Jon Mark Beilue atjbeilue@wtamu.edu.

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Beilue: Soon to be more crowded; renovation to fill Amarillo Center for WT nursing - Amarillo.com

Real estate technology and services company Orchard announced Thursday its adding both home insurance and warranty services to its product offerings. The move comes on the heels of Orchard raising $69 million in funding with a stated goal to become the real estate industrys Amazon.

Court Cunningham | Photo credit: Orchard

Orchards home insurance and warranty services join its existing suite of products, which include a home loans division, title insurance and search tools, all integrated into its consumer-facing dashboard, which launched in September.

At Orchard, were radically simplifying the way people buy their homes, bringing the entire experience, from start to finish, into the 21st century, Court Cunningham, the CEO and co-founder of Orchard, said in a statement.

Cunningham added that Orchards customers have expressed a desire to integrate more parts of the homebuying process into the Orchard platform. Adding home warranty and insurance allows those consumers to have the option to get everything they need to buy a home with Orchard, according to Cunningham.

Orchards insurance offering isnt direct-to-consumer, rather the platform will allow consumers to find the plans that work best for their needs. Consumers fill out an online application within the Orchard platform and receive an email with a side-by-side comparison of options.

Through Orchards warranty platform, customers can buy a protection plan to shield them from many major expenses.

All of the services, as well as associated documents required, are all integrated within the Orchard platform, making tasks like providing proof of insurance so the home loan can close on-time more seamless, according to the company.

Orchard aims to serve dual-track consumers both buying and selling a home at the same time. The company operates in essentially three phases: a modern search platform, enabling customers to buy before they sell with a guarantee, and an all-digital close.

Orchard, which is headquartered in New York City, currently serves customers in Colorado, Georgia and Texas.

Email Patrick Kearns

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Orchard adds home warranty and insurance to product offerings - Inman

Today we are introduced to David Seruya, CEO of Total Home Protection. A Home Warranty company prized for its innovative solutions and excellent customer service. Continue reading to learn how this company was able to get ahead and become one of the most respected home warranty providers in the industry from the perspective of one of its leaders.

When did you get your start in the home warranty industry?

David Seruya: That would be in 2005. I was still working as a mortgage broker back then, but the company that I was working for had begun to decline. And, ultimately, before the year ended, it shut down completely and everyone was laid off.

Thankfully, a college friend of mine had also been looking to get into a new business at the time. So, we decided to partner up and work on this new venture of ours together. At that point, we honestly didnt know much about the home warranty service industry. But, we knew that it had some room for competition. And, there was little online about offering home warranty plans directly to consumers, so we saw an opportunity that we just could not miss. So, we took it. Knowing that it would allow us to get ahead of the competition and disrupt the industry from the very beginning.

And how did this first venture work out for you?

David Seruya: Success did not come easy, thats for sure. Despite our confidence in our plan to disrupt the industry with innovative marketing, we did not make a single sale for almost six months! Still though, rather than throw in the towel, we continued to push forward with a tentative but persistent trial and error approach to test our limits.

Personally, I find that this kind of approach is what allowed us to succeed in the end. You learn pretty quickly that, in business, if you want any kind of success, youll need to push forward despite the fear of failure. Because, as clich as it may sound, it is with these very failures that you will find a lesson learned.

Who is Total Home Protections ideal customer?

David Seruya: The ideal Total Home Protection customers are homeowners that are age 35+ with an annual household income worth around $150,000. Of course, we service homeowners of all ages and all budgets too. But, weve found it most successful to target those in this particular age and income bracket.

And what kind of benefits can your customers expect by signing up with Total Home Protection?

David Seruya: Total Home Protection offers home warranty plans that cover approximately 20 home appliances and systems. The coverage applies when they wear out no matter their age, make, or model. And, if we cant fix them, then well replace them with the exact model or offer an alternative solution if a complete replacement is not available.

For full transparency, covered items must be in good working condition when the coverage is activated, and there are dollar amount caps that may apply. In addition to this, Total Home Protection reserves the right to offer cashback in place of repair or replacements.

If youre a current or prospective home warranty policyholder, I recommend that you read our sample contract to make the most of your policy. There, youll be able to discover all the great benefits that our home warranty service has to offer.

How has Total Home Protection been doing in such turbulent times? And how have you dealt with any of the issues that occurred?

David Seruya: I believe that a lot of our success comes from our leadership team. No matter how crazy or incomprehensible the times were living in are, the THP leadership team is always innovating, implementing new technologies, and just growing along with whatever changes are happening in our economy.

What do you find most satisfying whilst working for THP in recent times?

David Seruya: We recently released our new proprietary CRM. It was outfitted with the latest AI technology to create a custom platform for THP policyholders that would allow us to reduce operation costs, generate sales, and provide insights as to how we can grow and improve from this point on. With this on our side, were more confident than ever to compete and stay ahead in such a competitive industry. This, as you can probably guess, is an incredibly satisfying experience.

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[Interview] How Total Home Protection Stays Ahead of the Competition in the Home Warranty Industry with CEO David Seruya - Seekers Time

LONDON--(BUSINESS WIRE)--The Product Warranty Insurance Market is poised to experience spend growth of more than USD 27.75 billion between 2020-2024 at a CAGR of over 4.40%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Request free sample pages

Read the 120-page research report with TOC and LOE on "Product Warranty Insurance Market Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend."

SpendEdge's reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and the latest market data to help your company overcome sourcing challenges. Our Product Warranty Insurance Market procurement intelligence report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights into the best procurement practices to mitigate losses.

Information on Latest Trends and Supply Chain Market Information Knowledge centre on COVID-19 impact assessment

Insights into the Market Price Trends

Insights to help buyers identify and shortlist the most suitable suppliers for their Product Warranty Insurance Market requirements. This procurement report answers the following questions:

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Insights into strategies that will help buyers optimize their category management practices. The report answers the following questions:

Some of the top Product Warranty Insurance Market suppliers enlisted in this report

This Product Warranty Insurance Market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.

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Table of Content

Executive Summary

Market Insights

Category Pricing Insights

Cost-saving Opportunities

Best Practices

Category Ecosystem

Category Management Strategy

Category Management Enablers

Suppliers Selection

Suppliers under Coverage

US Market Insights

Category scope

Appendix

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COVID-19 Impact and Recovery Analysis | Product Warranty Insurance Market Procurement Intelligence Report Forecasts Spend Growth of Over USD 27.75...

FORT WASHINGTON, Pa., Dec. 07, 2020 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL) (www.TollBrothers.com), the nations leading builder of luxury homes, today announced results for its fourth quarter ended October31, 2020.

FY 2020s Fourth Quarter Financial Highlights (Compared to FY 2019s Fourth Quarter):

Full FY 2020 Highlights (Compared to Full FY 2019)

* All references to home sales gross margin, adjusted home sales gross margin and SG&A, whether for the fiscal fourth quarter, the full fiscal year or with respect to future periods, reflect a reclassification of third-party brokerage commissions from cost of home sales revenue to selling, general & administrative expense (SG&A) for all periods presented. The reclassification resulted in an increase of approximately 2 percentage points to home sales gross margin and adjusted home sales gross margin, and an increase of approximately 2 percentage points to SG&A as a percentage of revenue for all periods presented. For a detailed reconciliation of the impact of this reclassification, see the Form 8-K and related exhibits filed by the Company on December 7, 2020.

FY 2021 Financial Guidance:

Douglas C. Yearley, Jr., chairman and chief executive officer, stated: In these challenging times, our team delivered on all fronts in our fourth quarter, exceeding our expectations for sales, revenues, margins and earnings. I am tremendously proud of how we have adapted to a rapidly changing environment.

We are currently experiencing the strongest housing market I have seen in my 30 years at Toll Brothers and we continue to increase prices in nearly all of our communities as we focus on driving profitability and managing growth. The strong demand began for us in mid-May and has continued through today. In our fourth quarter, net signed contracts of 3,407 homes and $2.74 billion were the highest totals for any quarter in our history, up 68% in homes and 63% in dollars compared to one year ago. In FY 2021s first six weeks ended December 6, demand has remained very strong compared to one year ago, with our non-binding reservation deposits, which are a precursor to contracts, up approximately 48%.

We attribute the strength in demand to a number of factors, including historically low interest rates, an undersupply of new and resale homes, and a renewed appreciation for the home as a sanctuary. The work-from-home phenomenon is also enabling more buyers to live where they want rather than where their jobs previously required. And since most of our customers have a home to sell, the tight resale market gives them confidence they can sell their home quickly at an appreciated value that can then be re-invested in their new home.

The Toll Brothers build-to-order model is particularly well-suited to this moment as Americans place more importance on home than ever before. With the upgrades and choices we offer, our customers can personalize their homes to reflect their lifestyles with features such as home offices, fitness rooms, multi-generational living suites and stunning indoor/outdoor living areas.

With our highest year-end backlog in 15 years and continued strong demand, we expect to deliver the most homes in our history in FY 2021. In addition, our strong land holdings and presence in over 50 markets position us well for 10% community count growth by the end of FY 2021. Based on the pricing power that has accompanied our strong sales since May, we expect gross margin to improve over the course of the fiscal year as we deliver those homes. And as we continue to focus on more capital efficient ways to acquire and develop land, we expect improvement in our return on equity in FY 2021. With our well-located land holdings, luxury brand and distinctive home designs that appeal to move-up, empty-nester and affordable luxury home buyers, we are strategically positioned for continued growth in FY 2021 and beyond.

Toll Brothers Financial Highlights for the FY 2020 fourth quarter ended October31, 2020 (unaudited):

Toll Brothers financial highlights for the fiscal year ended October 31, 2020 (unaudited):

Additional Financial Information:

(1) See Reconciliation of Non-GAAP Measures below for more information on the calculation of the Companys net debt-to-capital ratio.

Toll Brothers will be broadcasting live via the Investor Relations section of its website, investors.TollBrothers.com, a conference call hosted by Chairman & CEO Douglas C. Yearley, Jr. at 11:00 a.m. (EST) Tuesday, December 8, 2020, to discuss these results and its outlook for FY 2021. To access the call, enter the Toll Brothers website, click on the Investor Relations page, and select Events & Presentations. Participants are encouraged to log on at least fifteen minutes prior to the start of the presentation to register and download any necessary software.

The call can be heard live with an online replay which will follow.

Toll Brothers, Inc., A FORTUNE 500 Company, is the nation's leading builder of luxury homes. The Company began business over fifty years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol TOL. The Company serves first-time, move-up, empty-nester, active-adult, affordable luxury and second-home buyers, as well as urban and suburban renters. It operates in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia.

Toll Brothers builds an array of luxury residential single-family detached, attached home, master planned resort-style golf, and urban low-, mid-, and high-rise communities, principally on land it develops and improves. The Company acquires and develops rental apartment and commercial properties through Toll Brothers Apartment Living, Toll Brothers Campus Living, and the affiliated Toll Brothers Realty Trust, and develops urban low-, mid-, and high-rise for-sale condominiums through Toll Brothers City Living. The Company operates its own architectural, engineering, mortgage, title, land development and land sale, golf course development and management, and landscape subsidiaries. Toll Brothers operates its own alarm monitoring company through TBI Smart Home Solutions, a complete home technology division. In addition to providing security monitoring, TBI Smart Home Solutions offers homeowners a full range of low voltage options, allowing buyers to maximize the potential of technology in their new home. The Company also operates its own lumber distribution, house component assembly, and manufacturing operations. Through its Gibraltar Real Estate Capital joint venture, the Company provides builders and developers with land banking, non-recourse debt and equity capital.

In 2020, Toll Brothers was named Worlds Most Admired Home Building Company in Fortune magazines survey of the Worlds Most Admired Companies, the sixth year in a row it has been so honored. Toll Brothers has won numerous other awards, including Builder of the Year from both Professional Builder magazine and Builder magazine, the first two-time recipient from Builder magazine. The Company sponsors the Toll Brothers Metropolitan Opera International Radio Network, bringing opera to neighborhoods throughout the world. For more information visit http://www.TollBrothers.com.

Toll Brothers discloses information about its business and financial performance and other matters, and provides links to its securities filings, notices of investor events, and earnings and other news releases, on the Investor Relations section of its website (investors.TollBrothers.com).

Forward-Looking Statements

Information presented herein for the fourth quarter ended October 31, 2020 is subject to finalization of the Company's regulatory filings, related financial and accounting reporting procedures and external auditor procedures.

This release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. One can identify these statements by the fact that they do not relate to matters of a strictly historical or factual nature and generally discuss or relate to future events. These statements contain words such as anticipate, estimate, expect, project, intend, plan, believe, may, can, could, might, should, likely, will, and other words or phrases of similar meaning. Such statements may include, but are not limited to, information and statements regarding: the impact of Covid-19 on the U.S. economy, the markets in which we operate or may operate, and on our business; our strategic priorities; our land acquisition, land development and capital allocation priorities; market conditions; demand for our homes; anticipated operating results and guidance; home deliveries; financial resources and condition; changes in revenues; changes in profitability; changes in margins; changes in accounting treatment; cost of revenues, including expected labor and material costs; selling, general, and administrative expenses; interest expense; inventory write-downs; home warranty and construction defect claims; unrecognized tax benefits; anticipated tax refunds; sales paces and prices; effects of home buyer cancellations; growth and expansion; joint ventures in which we are involved; anticipated results from our investments in unconsolidated entities; our ability to acquire or dispose of land and pursue real estate opportunities; our ability to gain approvals and open new communities; our ability to market, construct and sell homes and properties; our ability to deliver homes from backlog; our ability to secure materials and subcontractors; our ability to produce the liquidity and capital necessary to conduct normal business operations or to expand and take advantage of opportunities; and the outcome of legal proceedings, investigations, and claims.

Any or all of the forward-looking statements included in this release are not guarantees of future performance and may turn out to be inaccurate. This can occur as a result of incorrect assumptions or as a consequence of known or unknown risks and uncertainties. The major risks and uncertainties and assumptions that are made that affect our business and may cause actual results to differ from these forward-looking statements include, but are not limited to:

Many of the factors mentioned above or in other reports or public statements made by us will be important in determining our future performance. Consequently, actual results may differ materially from those that might be anticipated from our forward-looking statements.

Forward-looking statements speak only as of the date they are made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.

For a more detailed discussion of these factors, see the information under the captions Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations in our most recent Annual Report on Form 10-K filed with the SEC and in subsequent reports filed with the SEC.

TOLL BROTHERS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands)

TOLL BROTHERS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands, except per share data and percentages) (Unaudited)

TOLL BROTHERS, INC. AND SUBSIDIARIES SUPPLEMENTAL DATA (Amounts in thousands) (unaudited)

Inventory at October31, 2020 and October31, 2019 consisted of the following (amounts in thousands):

Toll Brothers operates in two segments: Traditional Home Building and Urban Infill ("City Living"). Within Traditional Home Building, Toll operates in five geographic segments. As previously reported, during the first quarter of FY 2020, management realigned certain of the states falling within its five home building regions. Within Traditional Home Building, the Company operates in the following five geographic segments, with current operations in the states listed below:

The realignment did not have any impact on the Companys consolidated financial position, results of operations, earnings per share or cash flows for the periods presented. Prior period results have been recast to conform with the Companys current segments in the tables below:

Unconsolidated entities:

Information related to revenues and contracts of entities in which we have an interest for the three-month and twelve-month periods ended October31, 2020 and 2019, and for backlog at October31, 2020 and 2019 is as follows:

RECONCILIATION OF NON-GAAP MEASURES

This press release contains, and Company managements discussion of the results presented in this press release may include, information about the Companys adjusted homes sales gross margin and the Companys net debt-to-capital ratio.

These two measures are non-GAAP financial measures which are not calculated in accordance with generally accepted accounting principles (GAAP). These non-GAAP financial measures should not be considered a substitute for, or superior to, the comparable GAAP financial measures, and may be different from non-GAAP measures used by other companies in the home building business.

The Companys management considers these non-GAAP financial measures as we make operating and strategic decisions and evaluate our performance, including against other home builders that may use similar non-GAAP financial measures. The Companys management believes these non-GAAP financial measures are useful to investors in understanding our operations and leverage and may be helpful in comparing the Company to other home builders to the extent they provide similar information.

Adjusted Home Sales Gross Margin The following table reconciles the Companys homes sales gross margin as a percentage of homes sale revenues (calculated in accordance with GAAP) to the Companys adjusted homes sales gross margin (a non-GAAP financial measure). Adjusted homes sales gross margin is calculated as (i) homes sales gross margin plus interest recognized in homes sales cost of revenues plus inventory write-downs recognized in home sales cost of revenues divided by (ii) homes sale revenues.

Adjusted Home Sales Gross Margin Reconciliation (Amounts in thousands, except percentages)

The Companys management believes adjusted home sales gross margin is a useful financial measure to investors because it allows them to evaluate the performance of our home building operations without the often varying effects of capitalized interest costs and inventory impairments. The use of adjusted home sales gross margin also assists the Companys management in assessing the profitability of our home building operations and making strategic decisions regarding community location and product mix.

Forward-looking Adjusted Homes Sales Gross MarginThe Company has not provided projected first quarter and full FY 2021 homes sales gross margin or a GAAP reconciliation for forward-looking adjusted homes sales gross margin because such measure cannot be provided without unreasonable efforts on a forward-looking basis, since inventory write-downs are based on future activity and observation and therefore cannot be projected for the first quarter and full FY 2021. The variability of these charges may have a potentially unpredictable, and potentially significant, impact on our first quarter and full FY 2021 homes sales gross margin.

Net Debt-to-Capital Ratio The following table reconciles the Companys ratio of debt to capital (calculated in accordance with GAAP) to the Companys net debt-to-capital ratio (a non-GAAP financial measure). The net debt-to-capital ratio is calculated as (i) total debt minus mortgage warehouse loans minus cash and cash equivalents divided by (ii) total debt minus mortgage warehouse loans minus cash and cash equivalents plus stockholders equity.

Net Debt-to-Capital Ratio Reconciliation (Amounts in thousands, except percentages)

The Companys management uses the net debt-to-capital ratio as an indicator of its overall leverage and believes it is a useful financial measure to investors in understanding the leverage employed in the Companys operations.

Frederick N. Cooper (215) 938-8312 fcooper@tollbrothers.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f2eddea4-b247-45af-9bae-1d9e08170de5

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Toll Brothers Reports FY 2020 4th Quarter Results - GlobeNewswire

Want to spend less on hot water? Want to get more hot water from the tank to the faucet? Here are 5 Things you can do to make your water heater more efficient

5 Things to make your water heater more efficient

- Wrap your water pipes with insulation. Its easy to do you can get fitted insulation tubes at any big box hardware store.

- Set the thermostat of your water heater below 130 degrees. 130 degree water can scald you, so you wind up mixing cold water with it. So, why cook it that hot to begin with?

- Wrap your water heater in a special tank blanket. Also sold at big box stores, this can save you 10-15% on your energy bill.

- Have a re-circulating pump installed. A pump will keep hot water in the area so that when you call for it, it will be there.

- Have a certified installer install a tankless water heater. Hot water only when you call for it, for as long as you call for it your best solution.

Originally posted here:
5 Things to make your water heater more efficient - WSB Radio

Q - My wife constantly worries about our water pipes freezing during cold weather.

When do normal people worry about frozen pipes and what can help prevent them.

Frank in Alpharetta

A - Its funny how many letters I get that start with either My wife or My husband

Here is a rule of thumb for frozen pipes:

If the temperature crawls below freezing and the wind is howling for more than 6-8 hours you need to be aware that frozen pipes could occur.

One of the easiest and first things you should do is to drain and unhook your hose outside your house and store it for the winter.

As far as your house pipes go, pipes that are exposed are obviously more subject to freezing than interior pipes. If you have pipes running through your crawlspace it would be wise to wrap them in insulation.

(Insulation for pipes is available at all most all hardware stores, is inexpensive, and is very, very easy to install yourself.)

The next most vulnerable pipes are the ones in your garage (same cure) followed by pipes located in exterior walls of your home.

To help keep those pipes in your exterior walls from freezing open the cabinet doors under your sinks to allow heat from house easier access.

In very cold situations you should drip your pipes overnight. It takes running water much longer to freeze than still water. Dont forget to drip the hot water AND the cold water pipes at the same time.

Remember - hot water doesnt stay hot in the pipes very long so both are susceptible to freezing.

One other tip to consider - if your water heater is in your crawlspace or garage, really consider getting a blanket to wrap it in. Wrapping your water heater will help it work more efficiently.

One last tip - in a worst case scenario it is also good to know how to shut off the water to your house in case a frozen pipe bursts.

Learn where the cut-off valve is at the house, and at the street.

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Try to get ahead of the curve on this frosty problem - WSB Radio

If COVID-19 taught us anything this year, its how badly things can go if we ignore science, dont take precautions and dont protect the most vulnerable among us. As we work to recover from the pandemic, we cant forget another looming crisis: climate change. For years, science told us its coming. Were already seeing the impacts. 2020 wasnt a terrible year just because of COVID-19. We were hammered by more fires and extreme heat than weve ever seen because our climate is changing.

The rest of the country looks to California for climate leadership, even as we struggle to reach our 2030 climate goals. The good news is we can continue to lead in California. To do this, we must be both strategic and bold to address the major sources of greenhouse gas emissions in our state: More than 60% comes from buildings, electricity generation and transportation.

As a newly elected state senator, Im excited to get to work. Here are some ideas:

Fourteen years ago, California set a goal of 1 million solar roofs, a milestone reached in 2018. I propose making it possible for us to soon have at least 1 million electric buildings to more deeply slash our use of fossil fuels and the emissions they produce. To do so we must create electric-ready homes and other buildings by lowering barriers that make it hard to switch to electric models when major appliances and equipment like a homes furnace or water heater need replacing. This will speed our transition from natural gas.

To further drive our grid toward 100% clean energy, we should establish a 24/7 Clean Energy Standard that spurs companies to invest in diverse clean energy sources, energy storage and flexible loads so clean energy can be delivered whenever we need it, not just when the sun shines or the wind blows.

To speed our switch to cleaner cars, we can help people, especially those with lower incomes, buy low-emission cars and retire the oldest, dirtiest ones.

Our state government must lead the way. We should set a net zero target for state government operations by 2035 and ensure our state uses its buying power to expand markets for electric vehicles, electric heating, and lower-carbon concrete, steel and other commodities.

A key theme of my campaign was Prioritize Climate Now. Climate change wont stop on its own any more than COVID-19 has. Battling the crisis will be hard work, but to emerge from the coronavirus recession, work is exactly what we need. We can put people to work building wind and solar farms, a resilient grid, energy storage systems, electric HVAC systems and water heaters, and so much more. We need people building new electric homes, retrofitting buildings to install electric appliances, and making all buildings more energy efficient. The group Rewiring America estimates that building a cleaner future will create 25 million net new jobs nationwide at the peak of this transition, with 5 million of those jobs sustained long term. A serious climate program can be seriously good for putting people back to work.

The best news is when we get there when weve switched from burning dirty stuff we dug out of the ground to using clean, renewable energy our quality of life and the environment sustaining us will be so much better than today. Well have stopped fueling climate change, well breathe cleaner air and save money on energy costs. Electric cars are already cheaper to drive than gas-powered cars, and electric heating is far more energy-efficient than gas furnaces. Neither pollute our air when powered by clean electricity. What are we waiting for? Lets go.

Josh Becker represents the 13th District in the California Senate.

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Opinion: Climate change wont stop on its own any more than COVID-19 has - The Mercury News