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Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014
Interest expense | $ (6,081) | $ (5,775) | $ (17,955) | $ (17,292)
Income before taxes | 184,996 | 143,791 | 396,043 | 302,322
Income tax expense | (68,526) | (53,639) | (147,120) | (120,143)
Net income | $ 116,470 | $ 90,152 | $ 248,923 | $ 182,179
Basic earnings per share | $ 28.75 | $ 21.49 | $ 61.34 | $ 42.01
Diluted earnings per share | $ 27.11 | $ 20.70 | $ 58.32 | $ 40.59
Basic weighted average shares outstanding | 4,050 | 4,196 | 4,058 | 4,336
Diluted weighted average shares outstanding | 4,296 | 4,354 | 4,268 | 4,489
Homebuilding [Member] |  |  |  |
Revenues | $ 1,374,467 | $ 1,185,160 | $ 3,537,116 | $ 3,068,427
Other income | 643 | 905 | 2,490 | 2,354
Cost of sales | (1,111,672) | (960,055) | (2,880,194) | (2,497,985)
Selling, general and administrative | (88,664) | (83,881) | (279,207) | (268,096)
Operating income | 174,774 | 142,129 | 380,205 | 304,700
Interest expense | (5,900) | (5,618) | (17,499) | (16,895)
Income before taxes | 168,874 | 136,511 | 362,706 | 287,805
Mortgage Banking [Member] |  |  |  |
Mortgage banking fees | 27,884 | 18,006 | 66,617 | 48,103
Interest income | 1,972 | 1,373 | 4,353 | 3,382
Other income | 363 | 240 | 711 | 493
General and administrative | (13,916) | (12,182) | (37,888) | (37,064)
Interest expense | (181) | (157) | (456) | (397)
Income before taxes | $ 16,122 | $ 7,280 | $ 33,337 | $ 14,517

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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 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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