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Quarterly results (unaudited) (Tables)
 12 Months Ended
Dec. 31, 2011
Unaudited Quarterly Information [Abstract]  
Schedule of Quarterly Financial Information
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.