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Investments In Unconsolidated Entities
 12 Months Ended
Dec. 31, 2012
Equity Method Investments and Joint Ventures [Abstract]  
Investments In Unconsolidated Entities
Investments in unconsolidated entities

We participate in a number of joint ventures with independent third parties. Many of these joint ventures purchase, develop, and/or sell land and homes in the U.S. and Puerto Rico. A summary of our joint ventures is presented below ($000’s omitted):
 
 
December 31,
 
2012
 
2011
Investments in joint ventures with debt non-recourse to PulteGroup
11,155

 
11,453

Investments in other active joint ventures
34,474

 
24,535

Total investments in unconsolidated entities
$
45,629

 
$
35,988

 
 
 
 
Total joint venture debt
$
6,915

 
$
11,107

 
 
 
 
PulteGroup proportionate share of joint venture debt:
 
 
 
Joint venture debt with limited recourse guaranties
$
769

 
$
1,202

Joint venture debt non-recourse to PulteGroup
826

 
2,009

PulteGroup's total proportionate share of joint venture debt
$
1,595

 
$
3,211



In 2012, 2011, and 2010, we recognized (income) expense from unconsolidated joint ventures of $(4.1) million, $(3.3) million, and $(2.9) million, respectively. The income recognized during 2010 includes impairments totaling $1.9 million. During 2012, 2011, and 2010, we made capital contributions of $16.5 million, $4.6 million, and $22.9 million, respectively, and received capital and earnings distributions of $10.5 million, $11.6 million, and $9.7 million, respectively.

The timing of cash obligations under the joint venture and any related financing agreements varies by agreement. If additional capital contributions are required and approved, we would need to contribute our pro rata portion of those capital needs in order to not dilute our ownership in the joint ventures. While future capital contributions may be required, we believe the total amount of such contributions will be limited. Our maximum financial loss exposure related to joint ventures is unlikely to exceed the combined investment and limited recourse guaranty totals.