| Segment information on operating results |
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Three Months
Ended
June 30,
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Six Months
Ended
June 30,
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2012 |
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2011 |
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2012 |
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2011 |
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Revenue (1):
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West
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$ |
52,614 |
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$ |
31,210 |
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$ |
87,116 |
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$ |
55,360 |
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Central
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184,148 |
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169,182 |
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316,326 |
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301,688 |
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East
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45,333 |
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19,739 |
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83,003 |
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40,672 |
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Consolidated total
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282,095 |
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220,131 |
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486,445 |
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397,720 |
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Operating income/(loss) (2):
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West
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1,770 |
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537 |
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1,956 |
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(447 |
) |
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Central
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11,976 |
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7,849 |
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15,347 |
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12,075 |
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East
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3,271 |
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2,004 |
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6,077 |
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4,241 |
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Segment operating income
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17,017 |
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10,390 |
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23,380 |
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15,869 |
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Corporate and unallocated (3)
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(5,085 |
) |
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(4,646 |
) |
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(9,910 |
) |
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(10,177 |
) |
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Earnings from unconsolidated entities, net
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2,228 |
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1,226 |
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3,651 |
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2,134 |
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Interest expense
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(6,338 |
) |
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(7,496 |
) |
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(13,709 |
) |
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(15,519 |
) |
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Other income, net
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792 |
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1,273 |
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628 |
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1,996 |
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Loss on extinguishment of debt
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(5,772 |
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0 |
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(5,772 |
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0 |
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Income/(loss) before income taxes
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$ |
2,842 |
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$ |
747 |
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$ |
(1,732 |
) |
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$ |
(5,697 |
) |
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| (1) |
Revenue includes the following land closing revenue, by segment: three months ended June 30, 2012—$755,000 in the Central Region; six months ended
June 30, 2012—$1.1 million in the Central Region; six months ended June 30, 2011—$100,000 in the Central Region. |
| (2) |
See Note 2 of this Quarterly Report on Form 10-Q for a breakout of real estate-related impairments by region. |
| (3) |
Balance consists primarily of corporate costs and numerous shared service functions such as finance and treasury that are not allocated to the reporting segments.
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| Total assets from segment |
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At June 30, 2012 |
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West |
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Central |
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East |
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Corporate and
Unallocated (1) |
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Total |
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Deposits on real estate under option or contract
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$ |
3,241 |
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$ |
10,663 |
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$ |
855 |
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$ |
0 |
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$ |
14,759 |
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Real estate
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219,499 |
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627,887 |
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107,847 |
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0 |
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955,233 |
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Investments in unconsolidated entities
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176 |
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11,204 |
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12 |
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788 |
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12,180 |
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Other assets
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17,131 |
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105,168 |
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13,389 |
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125,978 |
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261,666 |
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Total assets
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$ |
240,047 |
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$ |
754,922 |
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$ |
122,103 |
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$ |
126,766 |
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$ |
1,243,838 |
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At December 31, 2011 |
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West |
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Central |
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East |
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Corporate and
Unallocated (1) |
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Total |
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Deposits on real estate under option or contract
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$ |
3,216 |
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$ |
11,158 |
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$ |
834 |
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$ |
0 |
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$ |
15,208 |
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Real estate
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207,656 |
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529,885 |
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77,884 |
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0 |
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815,425 |
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Investments in unconsolidated entities
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176 |
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10,245 |
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14 |
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|
653 |
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11,088 |
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Other assets
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8,911 |
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90,532 |
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8,842 |
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271,372 |
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379,657 |
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Total assets
|
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$ |
219,959 |
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$ |
641,820 |
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$ |
87,574 |
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$ |
272,025 |
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$ |
1,221,378 |
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| (1) |
Balance consists primarily of cash and other corporate assets not allocated to the reporting segments. |
|