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v2.4.0.8

Condensed Consolidated Statements of Income (USD $) In Thousands, except Per Share data, unless otherwise specified | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013
Interest expense | $ (5,723) | $ (5,374) | $ (11,517) | $ (10,940)
Income before taxes | 108,824 | 80,181 | 158,531 | 135,286
Income tax expense | (40,646) | (29,491) | (66,504) | (49,555)
Net income | 68,178 | 50,690 | 92,027 | 85,731
Basic earnings per share | $ 15.68 | $ 10.37 | $ 20.88 | $ 17.38
Diluted earnings per share | $ 15.17 | $ 10.11 | $ 20.19 | $ 16.92
Basic weighted average shares outstanding | 4,349 | 4,889 | 4,408 | 4,934
Diluted weighted average shares outstanding | 4,495 | 5,013 | 4,557 | 5,067
Homebuilding [Member] |  |  |  |
Revenues | 1,084,080 | 992,210 | 1,883,267 | 1,743,078
Other income | 452 | 1,098 | 1,449 | 2,124
Cost of sales | (882,778) | (834,288) | (1,537,930) | (1,458,373)
Selling, general and administrative | (93,583) | (82,120) | (184,215) | (160,533)
Operating income | 108,171 | 76,900 | 162,571 | 126,296
Interest expense | (5,593) | (5,237) | (11,277) | (10,689)
Income before taxes | 102,578 | 71,663 | 151,294 | 115,607
Mortgage Banking [Member] |  |  |  |
Mortgage banking fees | 17,974 | 17,682 | 30,097 | 37,070
Interest income | 825 | 1,047 | 2,009 | 2,002
Other income | 194 | 178 | 253 | 291
General and administrative | (12,617) | (10,252) | (24,882) | (19,433)
Interest expense | (130) | (137) | (240) | (251)
Income before taxes | $ 6,246 | $ 8,518 | $ 7,237 | $ 19,679

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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 18 -Article 7 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 20 -Article 5 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 21 -Article 9 + Details
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- Definition The noninterest income derived from mortgage banking activities (fees and commissions), excluding fees earned from servicing third-party assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 13 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.13 (d)) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882 + Details
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- Definition The aggregate costs related to design, development, general contracting, remodeling, and renovation services for residential buildings, including single-family houses, multifamily housing, townhomes, apartments, and modular housing. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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