<SEC-DOCUMENT>0001144204-12-004052.txt : 20120126
<SEC-HEADER>0001144204-12-004052.hdr.sgml : 20120126
<ACCEPTANCE-DATETIME>20120126125517
ACCESSION NUMBER:		0001144204-12-004052
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120126
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120126
DATE AS OF CHANGE:		20120126

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NVR INC
		CENTRAL INDEX KEY:			0000906163
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATIVE BUILDERS [1531]
		IRS NUMBER:				541394360
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12378
		FILM NUMBER:		12546756

	BUSINESS ADDRESS:	
		STREET 1:		11700 PLAZA AMERICA DR.
		STREET 2:		SUITE 500
		CITY:			RESTON
		STATE:			VA
		ZIP:			20190
		BUSINESS PHONE:		7039564000

	MAIL ADDRESS:	
		STREET 1:		11700 PLAZA AMERICA DR.
		CITY:			RESTON
		STATE:			VA
		ZIP:			20190
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v300380_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<HR ALIGN="LEFT" SIZE="4" NOSHADE STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: 0pt">Current Report
Pursuant to Section 13 or 15(d)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">of the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported):
<B>January 26, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: 0pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: 0pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>NVR, Inc.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 85%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><U>Virginia</U></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><U>1-12378</U></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">54-1394360</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(State or other jurisdiction of</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Commission File</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(I.R.S. Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">incorporation or organization)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Number)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Identification No.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">11700 Plaza America Drive, Suite 500, Reston, Virginia</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">20190</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Zip Code)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B>703-956-4000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">_______________________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">(Former name or former address, if changed since
last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<HR ALIGN="LEFT" NOSHADE SIZE="4" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">o</FONT> Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">o</FONT> Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">o</FONT> Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">o</FONT> Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.133-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 2.02&#9;Results of Operations and Financial Condition</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0; text-indent: 22pt; text-align: justify">On
January 26, 2012, NVR, Inc. issued a press release reporting its financial results for the quarter and year to date periods ended
December 31, 2011. A copy of this press release is furnished herewith as Exhibit 99.1.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 9.01&#9;Financial Statements and Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.5in">(c)<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT>Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; padding: 0 5.4pt 0 0; text-decoration: underline">Number</TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 5.4pt 0 0">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 5.4pt 0 0; tab-stops: center 3.0in right 6.0in">99.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in">Press release dated January 26, 2012.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: -2.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: -2.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="padding: 0"><B>&nbsp;NVR, Inc.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 50%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 6%">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; width: 43%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Date:&nbsp; January 26, 2012</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0">By:</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; border-bottom: Black 1pt solid">/s/ Dennis M. Seremet</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0">Name:</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">Dennis M. Seremet</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0">Title:</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">Senior Vice President and Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">INDEX TO EXHIBITS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">Exhibit Number</TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 83%; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">Exhibit Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in">99.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; tab-stops: center 3.0in right 6.0in">Press release dated January 26, 2012.</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v300380_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html><head><META content="text/html; charset=utf-8"></META></head><body style="font-size:10pt;font-family:Arial;color:black;"><div style="width:100%;margin-left:10pt"><p style="text-align:center"><b>NVR, Inc. Announces Fourth Quarter and Full Year Results</b></p></div><div style="width:100%;margin-left:10pt;"><div style="margin:0;margin-top:16pt;"><p>RESTON, Va., Jan. 26, 2012 /PRNewswire/ -- <b>NVR, Inc.</b> (NYSE: NVR), one of the nation&#39;s largest homebuilding and mortgage banking companies, announced net income for its fourth quarter ended December 31, 2011 of $32,392,000, $6.32 per diluted share.  Net income decreased 45% and diluted earnings per share decreased 37% for its fourth quarter ended December 31, 2011 when compared to the 2010 fourth quarter.  Consolidated revenues for the fourth quarter of 2011 totaled $741,288,000, a 9% decrease from $811,005,000 for the comparable
2010 quarter.  </p><p>For the year ended December 31, 2011, consolidated revenues were $2,659,149,000, 13% lower than the $3,041,892,000 reported for the same period of 2010.  Net income for the year ended December 31, 2011 was $129,420,000, a decrease of 37% when compared to the year ended December 31, 2010.  Diluted earnings per share for the year ended December 31, 2011 was $23.01, a decrease of 31% from $33.42 per diluted share for the comparable period of 2010. </p><p><u><b><i>Homebuilding</i></b></u></p><p>New orders in the fourth quarter of 2011 increased 22% to 2,158 units, when compared to 1,765 units in the fourth quarter of 2010.  The cancellation rate in the fourth quarter of 2011 was 14.9% compared to 18.4% in the fourth quarter of 2010 and 15.0% in the third quarter of 2011. Settlements decreased in the fourth quarter of 2011 to 2,391 units, 9% lower than the same period
of 2010.  The Company&#39;s backlog of homes sold but not settled at the end the 2011 increased on a unit basis by 26% to 3,676 units and on a dollar basis by 21% to $1,160,879,000 when compared to the prior year end.</p><p>Homebuilding revenues for the three months ended December 31, 2011 totaled $728,808,000, 8% lower than the year earlier period.  Gross profit margins decreased to 15.4% in the 2011 fourth quarter compared to 17.6% for the same period in 2010.  Gross margins were negatively impacted by continued price pressure.  Income before tax from the homebuilding segment totaled $43,939,000 in the 2011 fourth quarter, a decrease of 44% when compared to the fourth quarter of the previous year.  Gross profit margins and pre-tax income were negatively impacted by a land deposit impairment charge of $4,445,000 in the fourth quarter of 2011 and $4,915,000 in the fourth quarter of
2010. </p><p>New orders for the 2011 fiscal year totaled 9,247 units, down 2% when compared to the 9,415 units reported for 2010.  Home settlements for 2011 decreased 15% to 8,487 units when compared to 10,030 units settled in 2010.  Homebuilding revenues for 2011 totaled $2,611,195,000, 12% lower than 2010.  Gross profit margins decreased to 17.1% in 2011 from 18.2% in 2010.  Pre-tax homebuilding income decreased 36% to $184,588,000 for the 2011 fiscal year when compared to 2010.</p><p><u><b><i>Mortgage Banking</i></b></u></p><p>Mortgage closed loan production of $520,919,000 for the three months ended December 31, 2011 was 13% lower than the same period last year.  Operating income for the mortgage banking operations during the fourth quarter of 2011 decreased 17% to $6,506,000, when compared to $7,806,000 reported for the same period of 2010. </p><p>Mortgage closed loan production
for the 2011 fiscal year decreased 16% to $1,868,472,000.  Income before tax from the mortgage banking segment for 2011 decreased 30% to $22,988,000 from the $32,925,000 reported for 2010.</p><p><u><b><i>About NVR</i></b></u></p><p>NVR, Inc. operates in two business segments:  homebuilding and mortgage banking.  The homebuilding unit sells and builds homes under the Ryan Homes, NVHomes, Rymarc Homes and Fox Ridge Homes trade names, and operates in twenty-seven metropolitan areas in fifteen states.  For more information about NVR, Inc. and its brands, see www.nvrinc.com, www.ryanhomes.com, www.nvhomes.com, www.foxridgehomes.com, and www.rymarc.com.</p><p>Some of the statements in this release made by the Company constitute &#34;forward-looking statements&#34; within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934.  Certain, but not necessarily all, of such forward-looking statements can be identified by the use of forward-looking terminology, such as &#34;believes,&#34; &#34;expects,&#34; &#34;may,&#34; &#34;will,&#34; &#34;should&#34; or &#34;anticipates&#34; or the negative thereof or other variations thereof or comparable terminology, or by discussion of strategies, each of which involves risks and uncertainties.  All statements other than those of historical facts included herein, including those regarding market trends, NVR&#39;s financial position, business strategy, the outcome of pending litigation, projected plans and objectives of management for future operations, are forward-looking statements.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results or
performance of NVR to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements.  Such risk factors include, but are not limited to, general economic and business conditions (on both a national and regional level), interest rate changes, access to suitable financing by NVR and by NVR&#39;s customers, increased regulation of the mortgage banking industry, competition, the availability and cost of land and other raw materials used by NVR in its homebuilding operations, shortages of labor, weather related slow downs, building moratoria, governmental regulation, the ability of NVR to integrate any acquired business, fluctuation and volatility of stock and other financial markets, mortgage financing availability and other factors over which NVR has little or no control.  The Company has no obligation to update such
forward-looking statements.</p><div style="margin-bottom:.0001in; margin-top:.0001in"><table cellspacing="0" cellpadding="1" style="border-collapse:collapse;border:none;"><tr><td valign="bottom" colspan="11" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">NVR, Inc.</font></b></font></p><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Consolidated Statements of Income</font></font></p><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(in thousands, except per share
data)</font></font></p><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; "><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font
style="font-family:Arial;font-size:8pt;">Three Months Ended December 31,</font></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; "><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">Twelve Months Ended December 31,</font></b></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">2011</font></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">2010</font></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">2011</font></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">2010</font></b></font></p></td><td style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Homebuilding:</font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Revenues &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; </font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160;728,808</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160;794,470</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; 2,611,195</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;
margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; 2,980,758</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Other income</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">639</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,522</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">4,301</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">9,299</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Cost of sales</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(616,722)</font></font></p></td><td valign="bottom" style="padding: 0pt
5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(654,965)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">(2,165,625)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(2,438,292)</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Selling, general and administrative </font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(68,571)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right;
"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(61,982)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(264,266)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(257,394)</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Operating income
</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">44,154</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">79,045</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">185,605</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid
black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">294,371</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Interest expense</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(215)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(338)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(1,017)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">(4,903)</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Homebuilding income </font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">43,939</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">78,707</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">184,588</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">289,468</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Mortgage Banking:</font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Mortgage banking fees</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">12,480</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">16,535</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">47,954</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">61,134</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Interest income</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;
margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,913</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,608</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">5,702</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">5,411</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Other income</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">145</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt
2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">202</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">456</font></font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">767</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">General
and administrative</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(7,878)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(10,254)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(30,249)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p
style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(33,261)</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Interest expense</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(154)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(285)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(875)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">(1,126)</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Mortgage banking income</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">6,506</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">7,806</font></font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">22,988</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;
margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">32,925</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt
2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Income before taxes </font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">50,445</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">86,513</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">207,576</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">322,393</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Income tax expense</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(18,053)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(27,815)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(78,156)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">(116,388)</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Net income</font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160;32,392</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160;58,698</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160;
&#160;129,420</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160;206,005</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Basic earnings per share </font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; &#160;6.51</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;10.41</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;23.66</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;34.96</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Diluted earnings per share </font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right:
10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; &#160;6.32</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; &#160;9.96</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;23.01</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;33.42</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td
style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Basic average shares outstanding </font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">4,979</font></font></p></td><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">5,641</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">5,469</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">5,893</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Diluted average shares outstanding
</font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">5,126</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in;
text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">5,892</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">5,624</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">6,165</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:double black 2.5pt; "><br /></td><td style=""></td></tr><tr><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td></tr></table><br /><br /></div><div style="margin-bottom:.0001in; margin-top:.0001in"><table cellspacing="0" cellpadding="1" style="border-collapse:collapse;border:none;"><tr><td valign="bottom" colspan="8"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">NVR, Inc.</font></b></font></p><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Consolidated Balance Sheets</font></font></p><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(in thousands, except share and per share data)</font></font></p><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><u><b><font style="font-family:Arial;font-size:8pt;">December 31, 2011</font></b></u></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><u><b><font style="font-family:Arial;font-size:8pt;">December 31, 2010</font></b></u></font></p></td><td style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">ASSETS</font></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="4" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Homebuilding:</font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Cash and cash equivalents</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;
&#160;475,566</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; &#160; 1,190,731</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Receivables</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">6,789</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p
style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">6,948</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Inventory:</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">Lots and housing units, covered under</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">sales agreements with customers</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">363,833</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">275,272</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Unsold lots and housing units</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">82,578</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">70,542</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Land under development</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">78,045</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p
style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">78,058</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Manufacturing materials and other </font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">8,694</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">7,457</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black
1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">533,150</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">431,329</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="4" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Assets related to consolidated variable interest entity</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">20,182</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">22,371</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Contract land deposits, net</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">131,930</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p
style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">100,786</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Property, plant and equipment, net</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">23,243</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">19,523</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Reorganization value in excess of amounts</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">allocable to identifiable assets, net</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">41,580</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">41,580</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Other assets, net</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">268,878</font></font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">243,005</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,501,318</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">2,056,273</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="4" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><i><font
style="font-family:Arial;font-size:8pt;">Mortgage Banking:</font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Cash and cash equivalents</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">4,766</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt
2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">2,661</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Mortgage loans held for sale, net</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">252,352</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">177,244</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Property and equipment, net</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,694</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">950</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p
style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Reorganization value in excess of amounts</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">allocable to identifiable assets, net</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">7,347</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">7,347</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Other assets</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">12,008</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">15,586</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">278,167</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in;
text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">203,788</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p
style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">Total assets</font></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; &#160; 1,779,485</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; &#160; 2,260,061</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt
5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td></tr></table><br /><br /></div><p>(Continued)</p><div style="margin-bottom:.0001in; margin-top:.0001in"><table cellspacing="0" cellpadding="1" style="border-collapse:collapse;border:none;"><tr><td valign="bottom" colspan="7" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">NVR, Inc.</font></b></font></p><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Consolidated Balance Sheets (Continued)</font></font></p><p style="margin:0in; text-align: center; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(in thousands, except share and per share data)</font></font></p><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style="margin:0in; text-align: center;
"><font style="font-family:Arial;font-size:8pt;color:black"><u><b><font style="font-family:Arial;font-size:8pt;">December 31, 2011</font></b></u></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><u><b><font style="font-family:Arial;font-size:8pt;">December 31, 2010</font></b></u></font></p></td><td style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><font
style="font-family:Arial;font-size:8pt;">LIABILITIES AND SHAREHOLDERS&#39; EQUITY</font></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Homebuilding:</font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Accounts payable</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;
&#160;125,649</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;115,578</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Accrued expenses and other liabilities</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">183,810</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">237,052</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Liabilities related to consolidated variable interest entity</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,013</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">500</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Non-recourse debt related to consolidated variable</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">interest entity</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">4,983</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">7,592</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p
style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Customer deposits</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">61,223</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">53,705</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Other term debt</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,613</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,751</font></font></p></td><td
style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">378,291</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">416,178</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Mortgage Banking:</font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt
2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Accounts payable and other liabilities</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">26,395</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">13,171</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Note payable</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">-</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">90,338</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">26,395</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">103,509</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">Total liabilities</font></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">404,686</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">519,687</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Commitments and contingencies</font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Shareholders&#39; equity:</font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Common stock, $0.01 par value; 60,000,000 shares</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">authorized; 20,556,198 and 20,557,913 shares </font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">issued as of December 31, 2011 and </font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">December 31, 2010, respectively</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">206</font></font></p></td><td valign="bottom" style="padding: 0pt
5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">206</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Additional
paid-in-capital</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,072,779</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">951,234</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Deferred compensation trust &#8211; 152,964 and</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">158,894 shares of NVR, Inc. common</font></font></p></td><td valign="bottom" style="padding: 0pt
5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">stock as of December 31, 2011 and </font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">December 31, 2010, respectively</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(25,581)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(27,582)</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Deferred compensation liability</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">25,581</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">27,582</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Retained earnings</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">4,158,492</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">4,029,072</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Less treasury stock at cost &#8211; 15,578,565 and</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">14,894,357 shares at December 31, 2011</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p
style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">and December 31, 2010, respectively</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(3,856,678)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(3,240,138)</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">Total shareholders&#8217;
equity</font></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,374,799</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in;
text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,740,374</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;"> &#160; &#160;Total liabilities and shareholders&#8217; equity</font></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; &#160; 1,779,485</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160; &#160; 2,260,061</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td></tr></table><br /><br /></div><div style="margin-bottom:.0001in; margin-top:.0001in"><table cellspacing="0" cellpadding="1" style="border-collapse:collapse;border:none;"><tr><td valign="bottom" colspan="11" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">NVR, Inc.</font></b></font></p><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Operating Activity</font></font></p><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(dollars in thousands)</font></font></p><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(unaudited)</font></font></p><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; "><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">Three Months Ended December 31,</font></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt
2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; "><p style="margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">Twelve Months Ended December 31,</font></b></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">2011</font></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><font
style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">2010</font></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">2011</font></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; "><p style="white-space: nowrap;  margin:0in; text-align: center; "><font style="font-family:Arial;font-size:8pt;color:black"><b><font style="font-family:Arial;font-size:8pt;">2010</font></b></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding:
0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Homebuilding data:</font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">New orders (units)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Mid Atlantic (1)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,113</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">888</font></font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">4,616</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">4,775</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">North East (2)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">233</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">177</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">872</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">827</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Mid East (3)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">486</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">469</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space:
nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">2,412</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">2,656</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">South East (4)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">326</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">231</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,347</font></font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,157</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style="
margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;"> &#160; Total</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:double black 2.5pt; padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">2,158</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:double black 2.5pt; padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,765</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:double black 2.5pt; padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">9,247</font></font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:double black 2.5pt; padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">9,415</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Average new order price</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;311.7</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;321.7</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;304.1</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;304.0</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Settlements (units)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Mid Atlantic (1)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,236</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,387</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">4,238</font></font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">5,043</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style="
margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">North East (2)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">192</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt;
"><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">196</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">728</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">920</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Mid East (3)</font></font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">616</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">774</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">2,335</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">2,886</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">South East (4)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">347</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">282</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,186</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,181</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;"> &#160; Total</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:double black 2.5pt; padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align:
right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">2,391</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:double black 2.5pt; padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">2,639</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:double black 2.5pt; padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">8,487</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:double black 2.5pt; padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">10,030</font></font></p></td><td
style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Average settlement price</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;304.6</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;301.0</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;307.5</font></font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;297.1</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Backlog (units)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Mid Atlantic (1)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,973</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,595</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">North East (2)</font></font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">376</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">232</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Mid East (3)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">807</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">730</font></font></p></td><td
style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">South East (4)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">520</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">359</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;"> &#160; Total</font></font></p></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:double black 2.5pt; padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in;
text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">3,676</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:double black 2.5pt; padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">2,916</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Average backlog price</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;315.8</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160; &#160;328.6</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Community count (average)</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">381</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">379</font></font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">384</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">371</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Lots controlled at end of period</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">53,000</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">52,300</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Mortgage banking data:</font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom"
style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">Loan closings</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160;520,919</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in;
text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160;597,949</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; 1,868,472</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; 2,219,946</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Capture rate</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">88%</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">91%</font></font></p></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">88%</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">90%</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td
valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;color:black"><b><i><font style="font-family:Arial;font-size:8pt;">Common stock information:</font></i></b></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Shares outstanding at end of period</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">4,977,633</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">5,663,556</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="2" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font
style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Number of shares repurchased</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">38,323</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt;
"><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">63,516</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">1,017,588</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">644,562</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" colspan="3" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">Aggregate cost of shares repurchased</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160;22,674</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160; &#160;39,786</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt
5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160;689,302</font></font></p></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /></td><td valign="bottom" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 14pt; "><p style="white-space: nowrap;  margin:0in; text-align: right; "><font style="font-family:Arial;font-size:8pt;color:black"><font
style="font-family:Arial;font-size:8pt;">$ &#160; &#160; &#160; &#160;417,079</font></font></p></td><td style=""></td></tr><tr><td valign="bottom" colspan="11" style="padding: 0pt 5.4pt 2pt 5.4pt;margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;"><br /><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(1) &#160;Virginia, West Virginia, Maryland and Delaware </font></font></p><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(2) &#160;New Jersey and eastern Pennsylvania</font></font></p><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(3) &#160;Kentucky, western Pennsylvania, New York, Ohio, &#160;Indiana &#160;and
Illinois</font></font></p><p style=" margin:0in;"><font style="font-family:Arial;font-size:8pt;color:black"><font style="font-family:Arial;font-size:8pt;">(4) &#160;North Carolina, South Carolina, Tennessee and Florida</font></font></p></td><td style=""></td></tr><tr><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td><td style="padding: 0pt 5.4pt 2pt 5.4pt;"></td></tr></table><br /><br /></div><br /><br /><p>CONTACT: Dan Malzahn, +1-703-956-4204</p></div></div></body></html>
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</DOCUMENT>
</SEC-DOCUMENT>
