Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v2.4.0.8
Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Home closing revenue $ 405,779 $ 330,710
Land closing revenue 2,566 5,725
Total closing revenue 408,345 [1] 336,435 [1]
Cost of home closings (313,180) (266,350)
Cost of land closings (3,593) (5,550)
Total cost of closings (316,773) (271,900)
Home closing gross profit 92,599 64,360
Land closing gross (loss)/profit (1,027) 175
Total closing gross profit 91,572 64,535
Financial Services Revenue 1,899 842
Financial Services Expenses (1,075) (573)
Earnings From Financial Services Unconsolidated Entities And Other Net 2,201 2,787
Financial Services Profit 3,025 3,056
Commissions and other sales costs (30,934) (25,879)
General and administrative expenses (21,671) (19,724)
Loss from other unconsolidated entities, net (169) (155)
Interest expense (2,713) (5,128)
Other income, net 648 470
Loss on early extinguishment of debt 0 (700)
Earnings before income taxes 39,758 16,475
Provision for income taxes (14,381) (4,434)
Net earnings $ 25,377 $ 12,041
Earnings per common share:    
Basic $ 0.66 $ 0.34
Diluted $ 0.62 [2] $ 0.32 [2]
Weighted average number of shares:    
Basic 38,687 35,798
Diluted 41,308 38,440
[1] (1)Homebuilding revenue includes the following land closing revenue, by segment: Three Months Ended March 31, 2014 2013Land closing revenue: West$1,050 $5,641Central1,516 84East— —Consolidated total$2,566 $5,725
[2] (1)In accordance with ASC Subtopic 260-10, Earnings Per Share, we calculate the dilutive effect of convertible securities using the "if-converted" method.