Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

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Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Home closing revenue $ 483,147 $ 334,880 $ 1,249,897 $ 820,242
Land closing revenue 8,933 7,763 28,568 8,846
Total closing revenue 492,080 [1] 342,643 [1] 1,278,465 [1] 829,088 [1]
Cost of home closings (372,772) (272,726) (981,557) (671,029)
Cost of land closings (6,126) (7,493) (24,139) (8,833)
Total cost of closings (378,898) (280,219) (1,005,696) (679,862)
Home closing gross profit 110,375 62,154 268,340 149,213
Land closing gross profit/(loss) 2,807 270 4,429 13
Total closing gross profit 113,182 62,424 272,769 149,226
Financial Services Revenue 1,684 253 3,960 253
Financial Services Expenses (901) (317) (2,229) (484)
Earnings From Financial Services Unconsolidated Entities And Other Net 3,511 3,049 9,784 6,974
Financial Services Profit 4,294 2,985 11,515 6,743
Commissions and other sales costs (33,467) (25,855) (90,526) (67,950)
General and administrative expenses (24,412) (19,209) (66,587) (50,446)
Earnings from Other Unconsolidated Entities Net 46 (74) (229) (348)
Interest expense (3,462) (5,009) (13,113) (18,718)
Other (expense)/income, net 605 (8,276) 1,760 (7,481)
Loss on early extinguishment of debt 0 0 (3,796) (5,772)
Earnings/(loss) before income taxes 56,786 6,986 111,793 5,254
(Provision for)/benefit from income taxes (18,595) (202) (33,418) 4,781
Net earnings/(loss) $ 38,191 $ 6,784 $ 78,375 $ 10,035
Earnings/(loss) per common share:        
Basic $ 1.05 $ 0.19 $ 2.17 $ 0.30
Diluted $ 0.99 [2] $ 0.19 [2] $ 2.05 [2] $ 0.30 [2]
Weighted average number of shares:        
Basic 36,226 35,216 36,060 33,541
Diluted 38,865 35,761 38,771 34,010
[1] (1)Homebuilding revenue includes the following land closing revenue, by segment: Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2013 2012 2013 2012Land closing revenue: West5,875 $6,488 $11,616 $6,488Central3,058 485 13,482 1,568East— 790 3,470 790Consolidated total$8,933 $7,763 $28,568 $8,846
[2] (1)In the third quarter of 2012, we issued $126.5 million of 1.875% convertible senior notes convertible into shares of our common stock at a rate of 17.1985 shares per $1,000 principle amount. In accordance with ASC Subtopic 260-10, Earnings Per Share, ("ASC 260-10") we calculate the dilutive effect of convertible securities using the "if-converted" method.