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Real Estate Inventories (Tables) | 12 Months Ended
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Dec. 31, 2014
Inventory Disclosure [Abstract] |
Summary of Real Estate Inventories | Real estate inventories consisted of the following (in thousands):
|  | December 31, |
|  | 2014 |  |  | 2013 |
Real estate inventories owned: |  |  |  |  |  |  |  |
Homes completed or under construction |  | $ | 461,712 |  |  | $ | 308,856 |
Land under development |  |  | 1,391,303 |  |  |  | 760,731 |
Land held for future development |  |  | 245,673 |  |  |  | 264,120 |
Model homes |  |  | 103,270 |  |  |  | 53,351 |
Total real estate inventories owned |  |  | 2,201,958 |  |  |  | 1,387,058 |
Real estate inventories not owned: |  |  |  |  |  |  |  |
Land purchase and land option deposits |  |  | 44,155 |  |  |  | 38,788 |
Consolidated inventory held by VIEs |  |  | 34,070 |  |  |  | 39,680 |
Total real estate inventories not owned |  |  | 78,225 |  |  |  | 78,468 |
Total real estate inventories |  | $ | 2,280,183 |  |  | $ | 1,465,526 |
Summary of Interest Incurred, Capitalized and Expensed | Interest incurred, capitalized and expensed were as follows (in thousands):
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Interest incurred |  | $ | 41,706 |  |  | $ | 22,674 |  |  | $ | 27,038 |
Interest capitalized |  |  | (38,975 | ) |  |  | (19,081 | ) |  |  | (22,059 | )
Interest expensed |  | $ | 2,731 |  |  | $ | 3,593 |  |  | $ | 4,979 |
Capitalized interest in beginning inventory |  | $ | 138,233 |  |  | $ | 155,823 |  |  | $ | 164,056 |
Interest capitalized as a cost of inventory |  |  | 38,975 |  |  |  | 19,081 |  |  |  | 22,059 |
Interest previously capitalized as a cost of inventory, included in cost of sales |  |  | (52,747 | ) |  |  | (36,671 | ) |  |  | (30,292 | )
Capitalized interest in ending inventory |  | $ | 124,461 |  |  | $ | 138,233 |  |  | $ | 155,823 |
Schedule of Real Estate Inventory Impairments and Land Option Abandonments | Real estate inventory impairments and land option abandonments consisted of the following (in thousands):
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Real estate inventory impairments |  | $ | 931 |  |  | $ | 341,086 |  |  | $ | 735 |
Land option abandonments and pre-acquisition costs |  |  | 1,584 |  |  |  | 4,362 |  |  |  | 2,856 |
|  | $ | 2,515 |  |  | $ | 345,448 |  |  | $ | 3,591 |

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- Definition Tabular disclosure for impairment of long-lived assets held and used by an entity which includes a description of the impaired long-lived asset and facts and circumstances leading to the impairment, aggregate amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired long-lived asset is reported. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section CC -Subsection 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 + Details
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