Variable Interest Entities and Joint Ventures (Tables)

9 Months Ended

Sep. 30, 2012

NVR’s total risk of loss related to contract land deposits as of September 30, 2012 and December 31, 2011, is as follows:


	September 30, 2012			December 31, 2011
Contract land deposits	$	243,189		$	202,263
Loss reserve on contract land deposits		(69,785	)		(70,333	)

Contract land deposits, net		173,404			131,930

Contingent obligations in the form of letters of credit		2,815			3,228
Contingent specific performance obligations (1)		7,199			8,526

Total risk of loss	$	183,418		$	143,684

(1)	At September 30, 2012 and December 31, 2011, the Company was committed to purchase 74 and 92 finished lots under specific performance obligations, respectively.

The condensed balance sheets at September 30, 2012 and December 31, 2011, of the consolidated JV are as follows:


	September 30, 2012		December 31, 2011
Cash	$	1,005	$	462
Restricted cash		504		503
Other assets		128		125
Land under development		14,573		19,092

Total assets	$	16,210	$	20,182

Debt	$	865	$	4,983
Accrued expenses		149		108
Equity		15,196		15,091

Total liabilities and equity	$	16,210	$	20,182