XML 66 R45.htm IDEA: XBRL DOCUMENT v3.3.1.900
Summary of Quarterly Results of Operations (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Results of Operations
Summarized quarterly financial results for 2015 and 2014 follows:
 
First Quarter (a)
 
Second Quarter (a)
 
Third
    Quarter (a)
 
Fourth
    Quarter (a)
 
(In thousands, except per share amounts)
2015
 
 
 
 
 
 
 
Total revenues
$
47,805

 
$
57,430

 
$
43,168

 
$
114,018

Gross profit (loss)
17,289

 
(35,009
)
 
(69,572
)
 
8,341

Operating income (loss)
(7,737
)
 
(52,714
)
 
(94,751
)
 
(9,482
)
Equity in earnings of unconsolidated ventures
3,045

 
5,584

 
2,909

 
4,470

Income (loss) before taxes
(12,596
)
 
(55,062
)
 
(100,095
)
 
(11,983
)
Net income (loss) attributable to Forestar Group Inc.
(8,158
)
 
(34,507
)
 
(164,216
)
 
(6,166
)
 
 
 
 
 
 
 
 
Net income (loss) per share — basic
$
(0.24
)
 
$
(1.01
)
 
$
(4.79
)
 
$
(0.18
)
Net income (loss) per share — diluted
$
(0.24
)
 
$
(1.01
)
 
$
(4.79
)
 
$
(0.18
)
 
 
 
 
 
 
 
 
2014
 
 
 
 
 
 
 
Total revenues
$
84,605

 
$
83,013

 
$
58,840

 
$
80,316

Gross profit (loss)
35,025

 
33,261

 
19,606

 
(6,259
)
Operating income (loss)
15,883

 
26,942

 
12,716

 
(16,783
)
Equity in earnings of unconsolidated ventures
991

 
958

 
2,016

 
4,720

Income (loss) before taxes
13,665

 
22,799

 
7,994

 
(18,713
)
Net income (loss) attributable to Forestar Group Inc.
8,334

 
14,822

 
5,227

 
(11,800
)
 
 
 
 
 
 
 
 
Net income (loss) per share — basic
$
0.20

 
$
0.34

 
$
0.12

 
$
(0.34
)
Net income (loss) per share — diluted
$
0.19

 
$
0.34

 
$
0.12

 
$
(0.34
)
 _____________________
(a)Non-cash impairment charges for unproved leasehold interests and proved oil and gas properties included in our quarterly financial results are as follows:
 
First Quarter
 
Second Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(In thousands)
2015
$
7

 
$
45,938

 
$
81,240

 
$
37,646

2014
755

 
584

 
735

 
30,591