Quarterly report pursuant to Section 13 or 15(d)

Organization and Basis of Presentation (Tables)

v2.4.0.6
Organization and Basis of Presentation (Tables)
 3 Months Ended
Mar. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Letter of credit and surety bond obligations
 
March 31, 2013
 
December 31, 2012
 
Outstanding
 
Estimated work
remaining to
complete
 
Outstanding
 
Estimated work
remaining to
complete
Surety Bonds:
 
 
 
 
 
 
 
Surety bonds related to joint ventures
$
87

 
$
87

 
$
87

 
$
87

Surety bonds related to owned projects and lots under contract
117,907

 
59,107

 
87,305

 
38,936

Total surety bonds
$
117,994

 
$
59,194

 
$
87,392

 
$
39,023

Letters of Credit (“LOCs”):
 
 
 
 
 
 
 
LOCs for land development
$
28,026

 
N/A

 
$
32,475

 
N/A

LOCs for general corporate operations
6,476

 
N/A

 
4,991

 
N/A

Total LOCs
$
34,502

 
N/A

 
$
37,466

 
N/A

Accrued liabilities
 
At March 31, 2013
 
At December 31, 2012
Accruals related to real-estate development and construction activities
$
21,169

 
$
19,954

Payroll and other benefits
14,515

 
11,871

Accrued taxes
4,731

 
3,407

Warranty reserves
21,384

 
22,064

Legal reserves
16,179

 
16,067

Other accruals
22,124

 
23,014

Total
$
100,102

 
$
96,377

Warranty reserves
 
Three Months Ended
 
March 31,
 
2013
 
2012
Balance, beginning of period
$
22,064

 
$
23,136

Additions to reserve from new home deliveries
2,071

 
1,531

Warranty claims
(2,751
)
 
(2,962
)
Adjustments to pre-existing reserves
—

 
—

Balance, end of period
$
21,384

 
$
21,705