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Investment in Unconsolidated Joint Ventures | 12 Months Ended
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Dec. 31, 2014
Investment in Unconsolidated LLCs [Abstract] |
Equity Method Investments Disclosure [Text Block] | Investment in Unconsolidated Joint Ventures The Company has periodically partnered with other land developers or homebuilders to share in the cost of land investment and development through joint ownership and development agreements, joint ventures, and other similar arrangements. For such joint venture arrangements where a special purpose entity is established to own the property, we have determined that we do not have substantive control over any of these entities; therefore, they are recorded using the equity method of accounting. The Company’s maximum exposure related to its investment in these joint venture arrangements as of December 31, 2014 is the total amount invested of $30.3 million, consisting of $27.8 million which is reported as Investment in Unconsolidated Joint Ventures on our Consolidated Balance Sheets, and a $2.5 million note due to the Company from one of the unconsolidated joint ventures (reported in Other Assets). Included in the Company’s investment in unconsolidated joint ventures at both December 31, 2014 and December 31, 2013 were $0.2 million and $0.8 million of capitalized interest and other costs, respectively. The Company evaluates its investment in unconsolidated joint ventures for potential impairment on a quarterly basis. If the fair value of the investment (see Notes 1 and 3 of our Consolidated Financial Statements) is less than the investment’s carrying value, and the Company determines the decline in value was other than temporary, the Company would write down the investment to fair value. Summarized condensed combined financial information for the unconsolidated joint ventures that are included in the homebuilding segments as of December 31, 2014 and 2013 and for the years ended December 31, 2014, 2013 and 2012 is as follows: Summarized Condensed Combined Balance Sheets:
| December 31,
(In thousands) | 2014 | 2013
Assets: |  |
Single-family lots, land and land development costs (a) (b) | $ | 49,987 |  | $ | 73,069 |
Other assets | 2,917 |  | 2,972 |
Total assets | $ | 52,904 |  | $ | 76,041 |
Liabilities and partners’ equity: |  |
Liabilities: |  |
Notes payable | $ | 12,153 |  | $ | 8,022 |
Other liabilities | 2,887 |  | 4,041 |
Total liabilities | 15,040 |  | 12,063 |
Partners’ equity: |  |
Company’s equity (a) (b) | $ | 18,728 |  | $ | 32,103 |
Other equity | 19,136 |  | 31,875 |
Total partners’ equity | $ | 37,864 |  | $ | 63,978 |
Total liabilities and partners’ equity | $ | 52,904 |  | $ | 76,041 |
(a) | For the years ended December 31, 2014 and 2013, impairment expenses and other miscellaneous adjustments totaling $6.0 million and $10.4 million, respectively, were excluded from the table above.
(b) | For the years ended December 31, 2014 and 2013, the table above excludes the Company’s investment in joint development arrangements for which a special purpose entity was not established, totaling $15.0 million and $13.5 million, respectively.
Summarized Condensed Combined Statements of Operations:
| Year Ended December 31,
(In thousands) | 2014 | 2013 | 2012
Revenue | $ | 2,424 |  | $ | 2,909 |  | $ | — |
Costs and expenses | 1,147 |  | 1,763 |  | 15 |
Income (loss) | $ | 1,277 |  | $ | 1,146 |  | $ | (15 | )
The Company’s total equity in the income (loss) relating to the above homebuilding unconsolidated joint ventures was $0.3 million for 2014 and 2013 and less than ($0.1 million) for 2012, respectively.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=35687916&loc=d3e32787-111569 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=35687916&loc=d3e32847-111569 + Details
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