XML 70 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Operations and Comprehensive Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Homebuilding:        
Inventory impairments $ 0 $ (400)   $ (400)
Interest expense 0 0 (685) (1,726)
Loss on early extinguishment of debt     (9,412)  
Other-than-temporary impairment of marketable securities     (4,293)  
Income (loss) before income taxes 23,924 34,909 76,590 95,507
Benefit from (provision for) income taxes (8,466) 1,342 (28,086) 188,169
Net income 15,458 36,251 48,504 283,676
Other comprehensive income (loss) related to available-for-sale securities, net of tax (2,484) 1,960 (4,203) 2,500
Comprehensive income 12,974 38,211 44,301 286,176
Earnings per share:        
Basic (in Dollars per share) $ 0.32 $ 0.74 $ 0.99 $ 5.80
Diluted (in Dollars per share) $ 0.32 $ 0.74 $ 0.99 $ 5.75
Weighted average common shares outstanding        
Basic (in Shares) 48,625,685 48,478,403 48,607,425 48,423,969
Diluted (in Shares) 48,830,790 48,753,649 48,824,871 48,852,870
Dividends declared per share (in Dollars per share) $ 0.25   $ 0.75  
Homebuilding [Member]
       
Homebuilding:        
Home sale revenues 405,051 433,693 1,154,328 1,165,768
Land sale revenues 2,653 25 3,171 1,832
Total home and land sale revenues 407,704 433,718 1,157,499 1,167,600
Home cost of sales (338,037) (354,889) (953,690) (956,892)
Land cost of sales (1,985) (35) (2,507) (1,470)
Inventory impairments   (350) (850) (350)
Total cost of sales (340,022) (355,274) (957,047) (958,712)
Gross margin 67,682 78,444 200,452 208,888
Selling, general and administrative expenses (50,512) (57,753) (148,652) (157,862)
Interest and other income 5,926 6,853 24,088 23,602
Interest expense     (685) (1,726)
Other expense (841) (881) (2,534) (1,603)
Loss on early extinguishment of debt     (9,412)  
Other-than-temporary impairment of marketable securities (4,293)   (4,293)  
Income (loss) before income taxes 17,962 26,663 58,964 71,299
Financial Services [Member]
       
Homebuilding:        
Revenues 10,699 14,282 31,413 40,672
Expenses (5,643) (6,921) (16,182) (19,144)
Interest and other income 906 885 2,395 2,680
Income (loss) before income taxes $ 5,962 $ 8,246 $ 17,626 $ 24,208