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Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract] |
Schedule of quarterly financial information | Quarterly results for the years ended December 31, 2012 and 2011 follow (in thousands, except per share amounts):
|  | First |  | Second |  | Third |  | Fourth
2012 |  |  |  |  |  |  |  |
Total closing revenue |  | $ | 204,350 |  |  | $ | 282,095 |  |  | $ | 342,643 |  |  | $ | 364,586 |
Total closing gross profit |  | $ | 35,236 |  |  | $ | 51,566 |  |  | $ | 62,424 |  |  | $ | 68,973 |
(Loss)/earnings before income taxes (1) |  | $ | (4,574 | ) |  | $ | 2,842 |  |  | $ | 6,986 |  |  | $ | 23,600 |
Net (loss)/earnings (2) |  | $ | (4,754 | ) |  | $ | 8,005 |  |  | $ | 6,784 |  |  | $ | 95,128 |
Per Share Data: |  |  |  |  |  |  |  |
Basic (loss)/earnings per share (3) |  | $ | (0.15 | ) |  | $ | 0.24 |  |  | $ | 0.19 |  |  | $ | 2.67 |
Diluted (loss)/earnings per share (3) |  | $ | (0.15 | ) |  | $ | 0.24 |  |  | $ | 0.19 |  |  | $ | 2.49 |
2011 |  |  |  |  |  |  |  |
Total closing revenue |  | $ | 177,589 |  |  | $ | 220,131 |  |  | $ | 217,534 |  |  | $ | 245,990 |
Total closing gross profit (4) |  | $ | 30,389 |  |  | $ | 39,587 |  |  | $ | 37,943 |  |  | $ | 33,189 |
(Loss)/earnings before income taxes |  | $ | (6,444 | ) |  | $ | 747 |  |  | $ | (3,075 | ) |  | $ | (11,604 | )
Net (loss)/earnings |  | $ | (6,659 | ) |  | $ | 562 |  |  | $ | (3,235 | ) |  | $ | (11,774 | )
Per Share Data: |  |  |  |  |  |  |  |
Basic (loss)/earnings per share (3) |  | $ | (0.21 | ) |  | $ | 0.02 |  |  | $ | (0.10 | ) |  | $ | (0.36 | )
Diluted (loss)/earnings per share (3) |  | $ | (0.21 | ) |  | $ | 0.02 |  |  | $ | (0.10 | ) |  | $ | (0.36 | )
(1) | In the third quarter of 2012, we recorded an $8.7 million charge related to a litigation accrual.
(2) | In the fourth quarter of 2012, we reversed $79.9 million of our deferred tax asset valuation reserve and recorded an $8.4 million tax expense.
(3) | Due to the computation of earnings/(loss) per share, the sum of the quarterly amounts may not equal the full-year results.
(4) | In the fourth quarter of 2011 we recorded $4.0 million of inventory impairments, $2.7 million of option deposit and pre-acquisition write-offs and $6.3 million of impairments on land held for sale.

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: 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=20225539&loc=d3e1280-108306 + Details
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