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Organization and Basis of Presentation (Tables) | 6 Months Ended
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Jun. 30, 2012
Organization and Basis of Presentation [Abstract] |
Repayment and completion guarantees |
(In thousands) |  | At June 30, 2012 |  |  | At December 31, 2011 |
Repayment guarantees |  | $ | 338 |  |  | $ | 346 |
Completion guarantees (1) |  |  | 0 |  |  |  | 0 |
South Edge guarantee (2) |  |  | 13,243 |  |  |  | 13,243 |
Total guarantees |  | $ | 13,581 |  |  | $ | 13,589 |
(1) | As our completion guarantees are typically backed by funding from a third party, we believe these guarantees do not represent a potential cash obligation for us, as they require only non-financial performance.
(2) | As discussed in Note 13, we dispute the enforceability of this guarantee, and ultimate resolution of this matter will be addressed through litigation and/or settlements.
Letter of credit and surety bond obligations |
|  | June 30, 2012 |  |  | December 31, 2011 |
|  | Outstanding |  |  | Estimated work remaining to complete |  |  | Outstanding |  |  | Estimated work remaining to complete |
Sureties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sureties related to joint ventures |  | $ | 1,950 |  |  | $ | 1,950 |  |  | $ | 1,594 |  |  | $ | 32 |
Sureties related to owned projects and lots under contract |  |  | 73,009 |  |  |  | 40,197 |  |  |  | 65,921 |  |  |  | 37,252 |
Total sureties |  | $ | 74,959 |  |  | $ | 42,147 |  |  | $ | 67,515 |  |  | $ | 37,284 |
Letters of Credit (“LOCs”): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
LOCs for land development |  |  | 12,969 |  |  |  | N/A |  |  |  | 6,451 |  |  |  | N/A |
LOCs for general corporate operations |  |  | 4,991 |  |  |  | N/A |  |  |  | 4,960 |  |  |  | N/A |
Total LOCs |  | $ | 17,960 |  |  |  | N/A |  |  | $ | 11,411 |  |  |  | N/A |
Accrued Liabilities |
|  | At June 30, 2012 |  |  | At December 31, 2011 |
Accruals related to real-estate development and construction activities |  | $ | 16,113 |  |  | $ | 11,048 |
Payroll and other benefits |  |  | 13,574 |  |  |  | 13,535 |
Accrued taxes |  |  | 5,016 |  |  |  | 3,075 |
Warranty reserves |  |  | 21,243 |  |  |  | 23,136 |
Legal reserves |  |  | 8,991 |  |  |  | 10,157 |
Other accruals |  |  | 19,611 |  |  |  | 18,513 |
Total |  | $ | 84,548 |  |  | $ | 79,464 |
Warranty Reserves |
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Balance, beginning of period |  | $ | 21,705 |  |  | $ | 27,210 |  |  | $ | 23,136 |  |  | $ | 29,265 |
Additions to reserve from new home deliveries |  |  | 2,074 |  |  |  | 1,591 |  |  |  | 3,605 |  |  |  | 2,848 |
Warranty claims |  |  | (2,536 | ) |  |  | (2,872 | ) |  |  | (5,498 | ) |  |  | (5,795 | )
Adjustments to pre-existing reserves |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (389 | )
Balance, end of period |  | $ | 21,243 |  |  | $ | 25,929 |  |  | $ | 21,243 |  |  | $ | 25,929 |

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- Definition Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 45 -Paragraph 13, 16 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12069-110248 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 9, 10, 11, 12 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12265-110248 + Details
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- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249 + Details
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