XML 57 R15.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Debt | 6 Months Ended
--- | ---
Jun. 30, 2012
Debt Disclosure [Abstract] |
Debt Disclosure | Debt Our senior notes are summarized as follows ($000’s omitted):
| June 30, 2012 |  | December 31, 2011
5.45% unsecured senior notes due August 2012 (b) | $ | 96,473 |  |  | $ | 96,795 |
6.25% unsecured senior notes due February 2013 (b) | 62,707 |  |  | 62,677 |
5.125% unsecured senior notes due October 2013 (b) | 117,848 |  |  | 117,197 |
5.25% unsecured senior notes due January 2014 (b) | 255,891 |  |  | 255,882 |
5.70% unsecured senior notes due May 2014 (b) | 313,325 |  |  | 311,900 |
5.20% unsecured senior notes due February 2015 (b) | 207,926 |  |  | 207,906 |
5.25% unsecured senior notes due June 2015 (b) | 272,563 |  |  | 270,551 |
6.50% unsecured senior notes due May 2016 (b) | 470,400 |  |  | 469,147 |
7.625% unsecured senior notes due October 2017 (a) | 149,427 |  |  | 149,373 |
7.875% unsecured senior notes due June 2032 (b) | 299,130 |  |  | 299,108 |
6.375% unsecured senior notes due May 2033 (b) | 398,455 |  |  | 398,418 |
6.00% unsecured senior notes due February 2035 (b) | 299,403 |  |  | 299,390 |
7.375% unsecured senior notes due June 2046 (b) | 150,000 |  |  | 150,000 |
Total senior notes – carrying value (c) | $ | 3,093,548 |  |  | $ | 3,088,344 |
Estimated fair value | $ | 3,065,872 |  |  | $ | 2,765,151 |
(a) | Not redeemable prior to maturity; guaranteed on a senior basis by certain wholly-owned subsidiaries.
(b) | Redeemable prior to maturity; guaranteed on a senior basis by certain wholly-owned subsidiaries.
(c) | The recorded carrying value reflects the impact of various discounts and premiums that are amortized to interest cost over the respective terms of the senior notes.
Debt retirement During the three months ended June 30, 2011, we retired prior to their stated maturity dates $53.0 million of senior notes. We recorded losses related to these transactions totaling $3.5 million for the three and six months ended June 30, 2011, which are reflected in other expense (income), net. Losses on these transactions included the write-off of unamortized discounts, premiums, and transaction fees. There were no debt repurchases during the three or six months ended June 30, 2012. Letter of credit facilities We maintain separate cash-collateralized letter of credit agreements with a number of financial institutions. Letters of credit totaling $66.9 million and $83.2 million were outstanding under these agreements at June 30, 2012 and December 31, 2011, respectively. Under these agreements, we are required to maintain deposits with these financial institutions in amounts approximating the letters of credit outstanding. Such deposits are included in restricted cash. We also maintain an unsecured letter of credit facility with a bank that expires in June 2014. This facility originally permitted the issuance of up to $200.0 million of letters of credit for general corporate purposes in support of any wholly-owned subsidiary. We voluntarily reduced the capacity of this facility to $150.0 million effective July 2, 2012. At June 30, 2012 and December 31, 2011, letters of credit of $133.6 million and $152.7 million, respectively, were outstanding under this facility. Financial Services Pulte Mortgage provides mortgage financing for many of our home closings utilizing its own funds and funds available pursuant to a repurchase agreement with the Company. Pulte Mortgage uses these resources to finance its lending activities until the mortgage loans are sold to third party investors, generally within 30 days.

X
- Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 -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. + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration