XML 25 R10.htm IDEA: XBRL DOCUMENT v3.3.1.900

Inventory And Land Held For Sale

12 Months Ended

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

X

- References

No definition available.

+ Details

Name:	us-gaap_InventoryDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_InventoryDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration