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)
 6 Months Ended
Jun. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Letter of credit and surety bond obligations
 
At June 30, 2013
 
At 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
135,755

 
62,116

 
87,305

 
38,936

Total surety bonds
$
135,842

 
$
62,203

 
$
87,392

 
$
39,023

Letters of Credit (“LOCs”):
 
 
 
 
 
 
 
LOCs in lieu of deposits for contracted lots
$
1,485

 
N/A

 
$
—

 
N/A

LOCs for land development
36,323

 
N/A

 
32,475

 
N/A

LOCs for general corporate operations
5,091

 
N/A

 
4,991

 
N/A

Total LOCs
$
42,899

 
N/A

 
$
37,466

 
N/A

Accrued liabilities
 
At June 30, 2013
 
At December 31, 2012
Accruals related to real-estate development and construction activities
$
23,760

 
$
19,954

Payroll and other benefits
22,153

 
11,871

Accrued taxes
15,620

 
3,407

Warranty reserves
21,844

 
22,064

Legal reserves
16,703

 
16,067

Other accruals
24,273

 
23,014

Total
$
124,353

 
$
96,377

Warranty reserves
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Balance, beginning of period
$
21,384

 
$
21,705

 
$
22,064

 
$
23,136

Additions to reserve from new home deliveries
3,166

 
2,074

 
5,237

 
3,605

Warranty claims
(2,706
)
 
(2,536
)
 
(5,457
)
 
(5,498
)
Adjustments to pre-existing reserves
—

 
—

 
—

 
—

Balance, end of period
$
21,844

 
$
21,243

 
$
21,844

 
$
21,243