Inventory Impairments

9 Months Ended

Sep. 30, 2011

Inventory Impairments [Abstract]

Inventory Impairments

3. Inventory Impairments

The following table sets forth, by reportable segment, the asset impairments recorded during the three and nine months ended September 30, 2011 (in thousands).

M.D.C. HOLDINGS, INC.

Notes to Unaudited Consolidated Financial Statements (Continued)

	Three Months Ended September 30,				Nine Months Ended September 30,
Land and Land Under Development	2011		2010		2011		2010
West	$	1,193	$	2,490	$	7,112	$	2,490
Mountain		550		-		1,786		-
East		-		-		285		-
Other Homebuilding		1,519		-		1,519		-
Subtotal		3,262		2,490		10,702		2,490
Housing Completed or Under Construction
West		484		1,143		1,438		1,143
Mountain		210		-		449		-
East		-		-		-		-
Other Homebuilding		93		-		93		-
Subtotal		787		1,143		1,980		1,143
Other Assets		643		85		1,408		85
Consolidated Asset Impairments	$	4,692	$	3,718	$	14,090	$	3,718

The Company recorded $4.7 million and $14.1 million of asset impairments during the three and nine months ended September 30, 2011, which resulted from a decline in the market value of land and homes in certain subdivisions of the West, Mountain and Other Homebuilding segments. The Company recorded $3.7 million of asset impairments during the three and nine months ended September 30, 2010 which resulted from a decline in the market value of land and homes in several subdivisions of our West segment.