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Quarterly results (unaudited) | 12 Months Ended
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Dec. 31, 2011
Unaudited Quarterly Information [Abstract] |
Quarterly results (unaudited) | Quarterly Results (Unaudited) UNAUDITED QUARTERLY INFORMATION (000’s omitted, except per share data)
| 1st Quarter |  | 2nd Quarter |  | 3rd Quarter |  | 4th Quarter |  | Total
2011 |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | 783,767 |  |  | $ | 904,831 |  |  | $ | 1,114,027 |  |  | $ | 1,230,971 |  |  | $ | 4,033,596 |
Cost of revenues (a) | 685,960 |  |  | 793,465 |  |  | 944,882 |  |  | 1,079,370 |  |  | 3,503,677 |
Income (loss) before income taxes (b) | (46,365 | ) |  | (36,690 | ) |  | (211,126 | ) |  | 18,351 |  |  | (275,830 | )
Financial Services: |  |  |  |  |  |  |  |  |
Revenues | $ | 21,435 |  |  | $ | 22,381 |  |  | $ | 27,904 |  |  | $ | 31,374 |  |  | $ | 103,094 |
Income (loss) before income taxes | 973 |  |  | (16,643 | ) |  | 8,626 |  |  | (27,426 | ) |  | (34,470 | )
Consolidated results: |  |  |  |  |  |  |  |  |
Revenues | $ | 805,202 |  |  | $ | 927,212 |  |  | $ | 1,141,931 |  |  | $ | 1,262,345 |  |  | $ | 4,136,690 |
Income (loss) before income taxes | (45,392 | ) |  | (53,333 | ) |  | (202,500 | ) |  | (9,075 | ) |  | (310,300 | )
Income taxes (benefit) | (5,866 | ) |  | 2,052 |  |  | (73,202 | ) |  | (22,896 | ) |  | (99,912 | )
Net income (loss) | $ | (39,526 | ) |  | $ | (55,385 | ) |  | $ | (129,298 | ) |  | $ | 13,821 |  |  | $ | (210,388 | )
Per share data: |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |
Net income (loss) | $ | (0.10 | ) |  | $ | (0.15 | ) |  | $ | (0.34 | ) |  | $ | 0.04 |  |  | $ | (0.55 | )
Weighted-average common shares outstanding | 379,544 |  |  | 379,781 |  |  | 380,025 |  |  | 380,149 |  |  | 379,877 |
Assuming dilution: |  |  |  |  |  |  |  |  |
Net income (loss) | $ | (0.10 | ) |  | $ | (0.15 | ) |  | $ | (0.34 | ) |  | $ | 0.04 |  |  | $ | (0.55 | )
Adjusted weighted-average common shares and effect of dilutive securities | 379,544 |  |  | 379,781 |  |  | 380,025 |  |  | 381,261 |  |  | 379,877 |
(a) | Cost of revenues includes land and community valuation adjustments of $0.1 million, $3.3 million, $1.5 million, and $11.0 million and net realizable value adjustments of $0.0 million, $(0.2) million, $0.1 million, and $9.9 million for the 1st Quarter, 2nd Quarter, 3rd Quarter, and 4th Quarter, respectively.
(b) | Income (loss) before income taxes includes the write-off (recovery) of deposits and pre-acquisition costs of $0.6 million, $3.7 million, $2.3 million, and $3.4 million for the 1st Quarter, 2nd Quarter, 3rd Quarter, and 4th Quarter, respectively. Income (loss) before income taxes also includes goodwill impairments of $240.5 million for the 3rd Quarter. Homebuilding income (loss) before income taxes includes amounts previously classified within Other Non-Operating.
UNAUDITED QUARTERLY INFORMATION (000’s omitted, except per share data)
| 1st Quarter |  | 2nd Quarter |  | 3rd Quarter |  | 4th Quarter |  | Total
2010 |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | 989,792 |  |  | $ | 1,269,735 |  |  | $ | 1,030,755 |  |  | $ | 1,157,345 |  |  | $ | 4,447,627 |
Cost of revenues (a) | 859,093 |  |  | 1,107,019 |  |  | 957,637 |  |  | 1,136,191 |  |  | 4,059,940 |
Income (loss) before income taxes (b) | (19,980 | ) |  | 2,859 |  |  | (1,027,300 | ) |  | (195,734 | ) |  | (1,240,155 | )
Financial Services: |  |  |  |  |  |  |  |  |
Revenues | $ | 30,566 |  |  | $ | 36,163 |  |  | $ | 27,009 |  |  | $ | 27,925 |  |  | $ | 121,663 |
Income (loss) before income taxes | 5,472 |  |  | (8,585 | ) |  | 3,463 |  |  | 5,259 |  |  | 5,609 |
Consolidated results: |  |  |  |  |  |  |  |  |
Revenues | $ | 1,020,358 |  |  | $ | 1,305,898 |  |  | $ | 1,057,764 |  |  | $ | 1,185,270 |  |  | $ | 4,569,290 |
Income (loss) before income taxes | (14,508 | ) |  | (5,726 | ) |  | (1,023,837 | ) |  | (190,475 | ) |  | (1,234,546 | )
Income taxes (benefit) | (2,020 | ) |  | (82,029 | ) |  | (28,721 | ) |  | (25,047 | ) |  | (137,817 | )
Net income (loss) | $ | (12,488 | ) |  | $ | 76,303 |  |  | $ | (995,116 | ) |  | $ | (165,428 | ) |  | $ | (1,096,729 | )
Per share data: |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |
Net income (loss) | $ | (0.03 | ) |  | $ | 0.20 |  |  | $ | (2.63 | ) |  | $ | (0.44 | ) |  | $ | (2.90 | )
Weighted-average common shares outstanding | 377,747 |  |  | 378,618 |  |  | 378,842 |  |  | 379,115 |  |  | 378,585 |
Assuming dilution: |  |  |  |  |  |  |  |  |
Net income (loss) | $ | (0.03 | ) |  | $ | 0.20 |  |  | $ | (2.63 | ) |  | $ | (0.44 | ) |  | $ | (2.90 | )
Adjusted weighted-average common shares and effect of dilutive securities | 377,747 |  |  | 380,412 |  |  | 378,842 |  |  | 379,115 |  |  | 378,585 |
(a) | Cost of revenues includes land and community valuation adjustments of $4.5 million, $25.5 million, $57.5 million, and $82.2 million and net realizable value adjustments of $0.6 million, $(0.2) million, $0.6 million, and $38.1 million for the 1st Quarter, 2nd Quarter, 3rd Quarter, and 4th Quarter, respectively.
(b) | Income (loss) before income taxes includes the write-off (recovery) of deposits and pre-acquisition costs of $0.5 million, $2.3 million, $1.1 million, and $1.6 million for the 1st Quarter, 2nd Quarter, 3rd Quarter, and 4th Quarter, respectively. Income (loss) before income taxes also includes impairments of investments of unconsolidated joint ventures of $1.9 million for the 1st Quarter and goodwill impairments of $1.4 million and $654.9 million for the 2nd Quarter and 3rd Quarter, respectively. Income (loss) before income taxes also includes insurance-related charges of $10.0 million, $9.6 million, $272.2 million, and $(11.4) million for the 1st Quarter, 2nd Quarter, 3rd Quarter, and 4th Quarter, respectively. Homebuilding income (loss) before income taxes includes amounts previously classified within Other Non-Operating.

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- 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 SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 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 AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: 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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a Reference 7: 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=6952194&loc=d3e1280-108306 + Details
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