Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Assets    
Cash and cash equivalents $ 170,457 $ 173,612
Investments and securities 86,074 147,429
Restricted cash 38,938 12,146
Other receivables 20,290 14,932
Real estate 1,113,187 815,425
Deposits on real estate under option or contract 14,351 [1] 15,208
Investments in unconsolidated entities 12,085 11,088
Property and equipment, net 15,718 13,491
Deferred tax assets, net 77,974 0
Prepaid expenses and other assets 26,488 18,047
Total assets 1,575,562 1,221,378
Liabilities    
Accounts payable 49,801 37,735
Accrued liabilities 96,377 79,464
Home sale deposits 12,377 8,858
Senior, senior subordinated and convertible notes 722,797 606,409
Total liabilities 881,352 732,466
Stockholders’ Equity    
Preferred stock, par value $0.01. Authorized 10,000,000 shares; none issued and outstanding at December 31, 2012 and 2011 0 0
Common stock, par value $0.01. Authorized 125,000,000 shares; issued 35,613,351 and 40,377,021 shares at December 31, 2012 and 2011, respectively 356 404
Additional paid-in capital 390,249 478,839
Retained earnings 303,605 198,442
Treasury stock at cost. 0 and 7,891,250 shares at December 31, 2012 and 2011, respectively 0 (188,773)
Total stockholders’ equity 694,210 488,912
Total liabilities and stockholders’ equity $ 1,575,562 $ 1,221,378
[1] Amount is reflected in our consolidated balance sheet in the line item “Deposits on real estate under option or contract” as of December 31, 2012.