XML 80 R103.htm IDEA: XBRL DOCUMENT v2.4.0.6
Quarterly results (unaudited) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2010
Sep. 30, 2010
Jun. 30, 2010
Mar. 31, 2010
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Homebuilding:                      
Revenues $ 1,230,971 $ 1,114,027 $ 904,831 $ 783,767 $ 1,157,345 $ 1,030,755 $ 1,269,735 $ 989,792 $ 4,033,596 $ 4,447,627 $ 3,966,589
Cost of revenues 1,079,370 [1] 944,882 [1] 793,465 [1] 685,960 [1] 1,136,191 [2] 957,637 [2] 1,107,019 [2] 859,093 [2] 3,503,677 4,059,940 4,485,644
Income (loss) before income taxes 18,351 [3] (211,126) [3] (36,690) [3] (46,365) [3] (195,734) [4] (1,027,300) [4] 2,859 [4] (19,980) [4] (275,830) (1,240,155) (1,920,081)
Financial Services:                      
Revenues 31,374 27,904 22,381 21,435 27,925 27,009 36,163 30,566 103,094 121,663 117,800
Income (loss) before income taxes (27,426) 8,626 (16,643) 973 5,259 3,463 (8,585) 5,472 (34,470) [5] 5,609 [5] (55,038) [5]
Consolidated results:                      
Total revenues 1,262,345 1,141,931 927,212 805,202 1,185,270 1,057,764 1,305,898 1,020,358 4,136,690 4,569,290 4,084,389
Income (loss) before income taxes (9,075) (202,500) (53,333) (45,392) (190,475) (1,023,837) (5,726) (14,508) (310,300) (1,234,546) (1,975,119)
Income taxes (benefit) (22,896) (73,202) 2,052 (5,866) (25,047) (28,721) (82,029) (2,020) (99,912) (137,817) (792,552)
Net income (loss) $ 13,821 $ (129,298) $ (55,385) $ (39,526) $ (165,428) $ (995,116) $ 76,303 $ (12,488) $ (210,388) $ (1,096,729) $ (1,182,567)
Basic:                      
Net income (loss) $ 0.04 $ (0.34) $ (0.15) $ (0.10) $ (0.44) $ (2.63) $ 0.20 $ (0.03) $ (0.55) $ (2.90) $ (3.94)
Weighted-average common shares outstanding 380,149 380,025 379,781 379,544 379,115 378,842 378,618 377,747 379,877 378,585 300,179
Assuming dilution:                      
Net income (loss) $ 0.04 $ (0.34) $ (0.15) $ (0.10) $ (0.44) $ (2.63) $ 0.20 $ (0.03) $ (0.55) $ (2.90) $ (3.94)
Adjusted weighted-average common shares and effect of dilutive securities 381,261 380,025 379,781 379,544 379,115 378,842 380,412 377,747 379,877 378,585 300,179
[1] 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.
[2] 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.
[3] 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
[4] 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.
[5] Financial Services income (loss) before income taxes includes interest expense of $1.6 million and $2.3 million for 2010 and 2009, respectively, and interest income of $5.0 million, $5.8 million, and $7.7 million for 2011, 2010, and 2009, respectively.