Annual report pursuant to Section 13 and 15(d)

Selected Quarterly Financial Data (Unaudited) (Details)

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Selected Quarterly Financial Data (Unaudited) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Selected Quarterly Financial Information [Abstract]                      
Total closing revenue $ 536,194 $ 492,080 $ 449,950 $ 336,435 $ 364,586 $ 342,643 $ 282,095 $ 204,350 $ 1,814,659 [1] $ 1,193,674 [1] $ 861,244 [1]
Total closing gross profit 123,649 113,182 95,052 64,535 68,973 62,424 51,566 35,236 396,418 218,199 141,108
Earnings before income taxes 65,879 56,786 38,532 16,475 23,600 [2] 6,986 [2] 2,842 [2] (4,574) [2] 177,672 28,854 (20,376)
Net earnings $ 46,089 $ 38,191 $ 28,143 $ 12,041 $ 95,128 [3] $ 6,784 [3] $ 8,005 [3] $ (4,754) [3] $ 124,464 $ 105,163 $ (21,106)
Per Share Data:                      
Basic earnings/(loss) per share (in dollars per share) $ 1.27 [4] $ 1.05 [4] $ 0.78 [4] $ 0.34 [4] $ 2.67 [4] $ 0.19 [4] $ 0.24 [4] $ (0.15) [4] $ 3.45 $ 3.09 $ (0.65)
Diluted earnings/(loss) per share (in dollars per share) $ 1.19 [4] $ 0.99 [4] $ 0.74 [4] $ 0.32 [4] $ 2.49 [4] $ 0.19 [4] $ 0.24 [4] $ (0.15) [4] $ 3.25 [5],[6] $ 3.00 [5],[6] $ (0.65) [5],[6]
[1] Revenue includes the following land closing revenue, by segment: 2013 – $11.6 million in the West Region, $16.2 million in the Central Region and $3.5 million in the East Region; 2012 – $6.5 million in the West Region, $2.0 million in the Central Region and $790,000 in the East Region; 2011 – $360,000 in the Central Region.
[2] In the third quarter of 2012, we recorded an $8.7 million charge related to a litigation accrual.
[3] (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.
[4] (1)Due to the computation of earnings/(loss) per share, the sum of the quarterly amounts may not equal the full-year results.
[5] For periods with a net loss, no options or non-vested shares are included in the dilution calculation as all options and non-vested shares outstanding are considered anti-dilutive.
[6] In accordance with ASC 260-10, Earnings Per Share, ("ASC 260-10") we calculate the dilutive effect of convertible securities using the "if-converted" method.