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Inventory And Land Held For Sale | 12 Months Ended
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Dec. 31, 2015
Inventory Disclosure [Abstract] |
Inventory and land held for sale | Inventory and land held for sale Major components of inventory at December 31, 2015 and 2014 were ($000’s omitted):
| 2015 |  | 2014
Homes under construction | $ | 1,408,260 |  |  | $ | 1,084,137 |
Land under development | 3,259,066 |  |  | 2,545,049 |
Raw land | 782,732 |  |  | 762,914 |
| $ | 5,450,058 |  |  | $ | 4,392,100 |
In all periods presented, we capitalized all Homebuilding interest costs into inventory because the level of our active inventory exceeded our debt levels. Activity related to interest capitalized into inventory is as follows ($000’s omitted):
| Years Ended December 31,
| 2015 |  | 2014 |  | 2013
Interest in inventory, beginning of period | $ | 167,638 |  |  | $ | 230,922 |  |  | $ | 331,880 |
Interest capitalized | 120,001 |  |  | 131,444 |  |  | 154,107 |
Interest expensed | (138,141 | ) |  | (194,728 | ) |  | (255,065 | )
Interest in inventory, end of period | $ | 149,498 |  |  | $ | 167,638 |  |  | $ | 230,922 |
Land-related charges We recorded the following land-related charges ($000's omitted):
| 2015 |  | 2014 |  | 2013
Land impairments | $ | 7,347 |  |  | $ | 3,911 |  |  | $ | 2,944 |
Net realizable value adjustments ("NRV") - land held for sale | (901 | ) |  | 1,158 |  |  | 3,606 |
Write-offs of deposits and pre-acquisition costs | 5,021 |  |  | 6,099 |  |  | 3,122 |
Total land-related charges | $ | 11,467 |  |  | $ | 11,168 |  |  | $ | 9,672 |
Land held for sale Land held for sale at December 31, 2015 and 2014 was as follows ($000’s omitted):
| 2015 |  | 2014
Land held for sale, gross | $ | 86,913 |  |  | $ | 108,725 |
Net realizable value reserves | (5,421 | ) |  | (7,535 | )
Land held for sale, net | $ | 81,492 |  |  | $ | 101,190 |

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- Definition The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. + 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 210.5-02.6) -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 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a, b, c -Article 5 + Details
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