XML 100 R20.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Selected Quarterly Financial Data (Unaudited) | 12 Months Ended
--- | ---
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract] |
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) | NOTE 14 — SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) Quarterly results for the years ended December 31, 2013 and 2012 follow (in thousands, except per share amounts):
|  | First |  | Second |  | Third |  | Fourth
2013 |  |  |  |  |  |  |  |
Total closing revenue |  | $ | 336,435 |  |  | $ | 449,950 |  |  | $ | 492,080 |  |  | $ | 536,194 |
Total closing gross profit |  | $ | 64,535 |  |  | $ | 95,052 |  |  | $ | 113,182 |  |  | $ | 123,649 |
Earnings before income taxes |  | $ | 16,475 |  |  | $ | 38,532 |  |  | $ | 56,786 |  |  | $ | 65,879 |
Net earnings |  | $ | 12,041 |  |  | $ | 28,143 |  |  | $ | 38,191 |  |  | $ | 46,089 |
Per Share Data: |  |  |  |  |  |  |  |
Basic earnings per share (1) |  | $ | 0.34 |  |  | $ | 0.78 |  |  | $ | 1.05 |  |  | $ | 1.27 |
Diluted earnings per share (1) |  | $ | 0.32 |  |  | $ | 0.74 |  |  | $ | 0.99 |  |  | $ | 1.19 |
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 (2) |  | $ | (4,574 | ) |  | $ | 2,842 |  |  | $ | 6,986 |  |  | $ | 23,600 |
Net (loss)/earnings (3) |  | $ | (4,754 | ) |  | $ | 8,005 |  |  | $ | 6,784 |  |  | $ | 95,128 |
Per Share Data: |  |  |  |  |  |  |  |
Basic (loss)/earnings per share (1) |  | $ | (0.15 | ) |  | $ | 0.24 |  |  | $ | 0.19 |  |  | $ | 2.67 |
Diluted (loss)/earnings per share (1) |  | $ | (0.15 | ) |  | $ | 0.24 |  |  | $ | 0.19 |  |  | $ | 2.49 |
(1) | Due to the computation of earnings/(loss) per share, the sum of the quarterly amounts may not equal the full-year results.
(2) | In the third quarter of 2012, we recorded an $8.7 million charge related to a litigation accrual.
(3) | 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.
We typically experience seasonal variability in our quarterly operating results and capital requirements. Historically, we sell more homes in the first half of the year, which results in more working capital requirements and home closings in the third and fourth quarters. However, during economic downturns or times of certain government incentives, our results may not follow our historical trends.

X
- Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 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 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 FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=25249566&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration