Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Financial Instruments

		March 31, 2015				December 31, 2014
	Hierarchy	Carrying		Fair Value		Carrying		Fair Value
6.875% senior notes(1)	Level 2	$	198,652	$	196,520	$	198,605	$	203,013
Revolving line of credit(2)	Level 2	$	55,000	$	55,000	$	20,000	$	20,000
Land development notes(1)	Level 2	$	5,049	$	5,041	$	5,737	$	5,724
Insurance premium notes(2)	Level 2	$	3,402	$	3,402	$	5,135	$	5,135
Capital lease obligations(2)	Level 2	$	218	$	218	$	133	$	133
Earnout liability(3)	Level 3	$	2,292	$	2,292	$	2,426	$	2,426

⁽¹⁾ Estimated fair values of the senior notes and land development notes payable at March 31, 2015 and December 31, 2014 were based on cash flow models discounted at market interest rates that considered underlying risks of the debt. The estimated fair value of the Senior Notes at March 31, 2015 also incorporated the pricing at which our New Senior Notes (which have identical terms to the Senior Notes) were issued on April 9, 2015. Refer to footnote 16.

⁽²⁾ Carrying amount approximates fair value due to short-term nature and interest rate terms.

⁽³⁾ Recognized in connection with the acquisition of Grand View on August 12, 2014.  A Monte Carlo model was used to value the earnout by simulating earnings, applying the terms of the earnout in each simulated path, determining the average payment in each year across all the trials of the simulation, and calculating the sum of the present values of the payments in each year. The primary inputs and key assumptions of this Monte Carlo model included a range of forecasted revenue and gross margin scenarios which increased and decreased by 10.1% from our base case and discount rates ranging from 5.1% to 6.3%. We recognized $0.1 million during the three months ended March 31, 2015 to adjust the carrying value of the earnout liability to fair value, which is included in selling, general, and administrative expense on our consolidated statement of operations.