Quarterly report pursuant to Section 13 or 15(d)

Organization and Basis of Presentation (Tables)

v2.4.0.8
Organization and Basis of Presentation (Tables)
 3 Months Ended
Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Letter of credit and surety bond obligations
 
At March 31, 2014
 
At December 31, 2013
 
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
216,599

 
88,650

 
191,742

 
86,115

Total surety bonds
$
216,686

 
$
88,737

 
$
191,829

 
$
86,202

Letters of Credit (“LOCs”):
 
 
 
 
 
 
 
LOCs in lieu of deposits for contracted lots
$
1,685

 
N/A

 
$
1,685

 
N/A

LOCs for land development
29,413

 
N/A

 
35,883

 
N/A

LOCs for general corporate operations
4,500

 
N/A

 
4,500

 
N/A

Total LOCs
$
35,598

 
N/A

 
$
42,068

 
N/A

Accrued liabilities
 
At March 31, 2014
 
At December 31, 2013
Accruals related to real-estate development and construction activities
$
30,900

 
$
29,992

Payroll and other benefits
19,256

 
36,232

Accrued taxes
16,451

 
22,902

Warranty reserves
21,482

 
21,971

Legal reserves
17,181

 
16,463

Real-estate notes payable (1)
16,109

 
15,993

Other accruals
20,392

 
23,058

Total
$
141,771

 
$
166,611

Warranty reserves
 
Three Months Ended March 31,
 
2014
 
2013
Balance, beginning of period
$
21,971

 
$
22,064

Additions to reserve from new home deliveries
2,276

 
2,071

Warranty claims
(2,765
)
 
(2,751
)
Adjustments to pre-existing reserves
—

 
—

Balance, end of period
$
21,482

 
$
21,384