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Condensed Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Mortgage banking fees $ 13,218 $ 17,532 $ 24,978 $ 30,365
Income before taxes 63,354 118,259 88,189 170,990
Income tax expense (24,909) (46,983) (34,570) (67,627)
Net income 38,445 71,276 53,619 103,363
Basic earnings per share $ 6.65 $ 11.64 $ 9.24 $ 16.96
Diluted earnings per share $ 6.48 $ 11.13 $ 8.98 $ 16.15
Basic average shares outstanding 5,785 6,123 5,804 6,095
Diluted average shares outstanding 5,929 6,405 5,974 6,402
Homebuilding
       
Revenues 682,663 946,972 1,185,407 1,524,353
Other income 1,362 2,110 2,820 4,479
Cost of sales (558,601) (771,475) (976,521) (1,242,544)
Selling, general and administrative (68,045) (69,137) (135,233) (129,878)
Operating income 57,379 108,470 76,473 156,410
Interest expense (287) (1,897) (509) (4,068)
Income before taxes 57,092 106,573 75,964 152,342
Mortgage Banking
       
Mortgage banking fees 13,218 17,532 24,978 30,365
Interest income 1,085 1,492 2,200 2,248
Other income 121 233 160 399
General and administrative (7,898) (7,275) (14,575) (13,804)
Interest expense (264) (296) (538) (560)
Income before taxes $ 6,262 $ 11,686 $ 12,225 $ 18,648