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Quarterly Results (Unaudited) | 12 Months Ended
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Dec. 31, 2011
Quarterly Results (Unaudited) [Abstract] |
Quarterly Results (unaudited) |
14. | Quarterly Results (unaudited)
The following table sets forth unaudited selected financial data and operating information on a quarterly basis for the years ended December 31, 2011 and 2010.
|  | Year Ended December 31, 2011 |
|  | 4th Quarter |  |  | 3rd Quarter |  |  | 2nd Quarter |  |  | 1st Quarter |
Revenues-homebuilding operations |  | $ | 728,808 |  |  | $ | 696,980 |  |  | $ | 682,663 |  |  | $ | 502,744 |
Gross profit – homebuilding operations |  | $ | 112,086 |  |  | $ | 124,598 |  |  | $ | 124,062 |  |  | $ | 84,824 |
Mortgage banking fees |  | $ | 12,480 |  |  | $ | 10,496 |  |  | $ | 13,218 |  |  | $ | 11,760 |
Net income |  | $ | 32,392 |  |  | $ | 43,409 |  |  | $ | 38,445 |  |  | $ | 15,174 |
Diluted earnings per share |  | $ | 6.32 |  |  | $ | 7.98 |  |  | $ | 6.48 |  |  | $ | 2.52 |
Contracts for sale, net of cancellations (units) |  |  | 2,158 |  |  |  | 2,218 |  |  |  | 2,468 |  |  |  | 2,403 |
Settlements (units) |  |  | 2,391 |  |  |  | 2,255 |  |  |  | 2,207 |  |  |  | 1,634 |
Backlog, end of period (units) |  |  | 3,676 |  |  |  | 3,909 |  |  |  | 3,946 |  |  |  | 3,685 |
Loans closed |  | $ | 520,919 |  |  | $ | 489,866 |  |  | $ | 504,116 |  |  | $ | 353,571 |
|  | Year Ended December 31, 2010 |
|  | 4th Quarter |  |  | 3rd Quarter |  |  | 2nd Quarter |  |  | 1st Quarter |
Revenues-homebuilding operations |  | $ | 794,470 |  |  | $ | 661,935 |  |  | $ | 946,972 |  |  | $ | 577,381 |
Gross profit – homebuilding operations |  | $ | 139,505 |  |  | $ | 121,152 |  |  | $ | 175,497 |  |  | $ | 106,312 |
Mortgage banking fees |  | $ | 16,535 |  |  | $ | 14,234 |  |  | $ | 17,532 |  |  | $ | 12,833 |
Net income |  | $ | 58,698 |  |  | $ | 43,944 |  |  | $ | 71,276 |  |  | $ | 32,087 |
Diluted earnings per share |  | $ | 9.96 |  |  | $ | 7.31 |  |  | $ | 11.13 |  |  | $ | 5.01 |
Contracts for sale, net of cancellations (units) |  |  | 1,765 |  |  |  | 2,151 |  |  |  | 2,559 |  |  |  | 2,940 |
Settlements (units) |  |  | 2,639 |  |  |  | 2,127 |  |  |  | 3,345 |  |  |  | 1,919 |
Backlog, end of period (units) |  |  | 2,916 |  |  |  | 3,790 |  |  |  | 3,766 |  |  |  | 4,552 |
Loans closed |  | $ | 597,949 |  |  | $ | 497,404 |  |  | $ | 706,551 |  |  | $ | 418,042 |

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=6952194&loc=d3e1280-108306 + Details
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