Unaudited Consolidated Income Statement - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2015 |
Jun. 30, 2014 |
Jun. 30, 2015 |
Jun. 30, 2014 |
|||
| Income Statement [Abstract] | ||||||
| Home closing revenue | $ 591,027 | $ 502,800 | $ 1,108,300 | $ 908,579 | ||
| Land closing revenue | 6,774 | 2,804 | 8,213 | 5,370 | ||
| Total closing revenue | 597,801 | 505,604 | 1,116,513 | 913,949 | ||
| Cost of home closings | (476,790) | (392,839) | (898,576) | (706,019) | ||
| Cost of land closings | (6,262) | (2,762) | (7,547) | (6,355) | ||
| Total cost of closings | (483,052) | (395,601) | (906,123) | (712,374) | ||
| Home closing gross profit | 114,237 | 109,961 | 209,724 | 202,560 | ||
| Land closing gross profit/(loss) | 512 | 42 | 666 | (985) | ||
| Total closing gross profit | 114,749 | 110,003 | 210,390 | 201,575 | ||
| Financial services revenue | 2,741 | 2,451 | 5,276 | 4,350 | ||
| Financial services expense | (1,362) | (1,131) | (2,661) | (2,206) | ||
| Earnings from financial services unconsolidated entities and other, net | 2,757 | 2,297 | 5,301 | 4,498 | ||
| Financial services profit | 4,136 | 3,617 | 7,916 | 6,642 | ||
| Commissions and other sales costs | (45,167) | (36,105) | (86,779) | (67,039) | ||
| General and administrative expenses | (27,650) | (24,571) | (57,300) | (46,242) | ||
| Loss from other unconsolidated entities, net | (169) | (61) | (292) | (230) | ||
| Interest expense | (4,621) | (1,396) | (7,775) | (4,109) | ||
| Other income, net | 136 | 3,749 | 551 | 4,397 | ||
| Earnings before income taxes | 41,414 | 55,236 | 66,711 | 94,994 | ||
| Provision for income taxes | (12,281) | (20,157) | (21,178) | (34,538) | ||
| Net earnings | $ 29,133 | $ 35,079 | $ 45,533 | $ 60,456 | ||
| Earnings per common share: | ||||||
| Basic (in dollars per share) | $ 0.73 | $ 0.90 | $ 1.15 | $ 1.55 | ||
| Diluted (in dollars per share) | [1] | $ 0.70 | $ 0.85 | $ 1.10 | $ 1.48 | |
| Weighted average number of shares: | ||||||
| Basic (in shares) | 39,648 | 39,118 | 39,520 | 38,904 | ||
| Diluted (in shares) | 42,145 | 41,598 | 42,079 | 41,487 | ||
| ||||||
| X | ||||||||||
- Definition The portion of net earnings attributable from investments in financial services joint ventures and the total amount of other operating income within financial services, the components of which are not separately disclosed on the income statement. No definition available.
|
| X | ||||||||||
- Definition The portion of earnings attributable to the Company from investments in non-financial services joint ventures. No definition available.
|
| X | ||||||||||
- Definition Operating profit before tax, financial services No definition available.
|
| X | ||||||||||
- Definition Aggregate home closing revenue less home closing costs and real estate impairment directly attributable to the home closing revenue generation activity. No definition available.
|
| X | ||||||||||
- Definition Aggregate land closing revenue less land closing costs and land impairments (if any) directly attributable to the land closing revenue generation activity. No definition available.
|
| X | ||||||||||
- Definition This element represents the total of the costs related to real estate revenues, including management, leasing, and development services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate costs of real estate land sales including administrative paperwork, real estate brokerage, title, and property management operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate costs incurred during the reporting period related to financial services rendered by an entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate financial services revenue and operating interest income earned during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate costs related to design, development, general contracting, remodeling, and renovation services for residential buildings, including single-family houses, multifamily housing, townhomes, apartments, and modular housing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Revenue related to the sale of homes and home building activities including design, development, general contracting, and renovation services for residential buildings, including single-family houses, multifamily housing, townhouses, apartments, and modular housing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Revenue from the sale of land in the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate revenue from real estate operations during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|