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Condensed Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Mortgage banking fees $ 14,493 $ 13,218 $ 28,790 $ 24,978
Income before taxes 63,955 63,354 94,913 88,189
Income tax expense (17,117) (24,909) (27,952) (34,570)
Net income 46,838 38,445 66,961 53,619
Basic earnings per share $ 9.17 $ 6.65 $ 13.19 $ 9.24
Diluted earnings per share $ 8.97 $ 6.48 $ 12.90 $ 8.98
Basic weighted average shares outstanding 5,106 5,785 5,075 5,804
Diluted weighted average shares outstanding 5,221 5,929 5,191 5,974
Homebuilding
       
Revenues 755,290 682,663 1,341,485 1,185,407
Other income 538 1,362 1,446 2,820
Cost of sales (624,978) (558,601) (1,116,807) (976,521)
Selling, general and administrative (73,754) (68,045) (145,930) (135,233)
Operating income 57,096 57,379 80,194 76,473
Interest expense (112) (287) (228) (509)
Income before taxes 56,984 57,092 79,966 75,964
Mortgage Banking
       
Mortgage banking fees 14,493 13,218 28,790 24,978
Interest income 815 1,085 2,480 2,200
Other income 136 121 212 160
General and administrative (8,327) (7,898) (16,240) (14,575)
Interest expense (146) (264) (295) (538)
Income before taxes $ 6,971 $ 6,262 $ 14,947 $ 12,225