Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2012

Supplemental Guarantor Information [Abstract]

Supplemental Condensed Combining Balance Sheet

Supplemental Condensed Combining Balance Sheets

	March 31, 2012
	MDC			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated MDC
	(dollars in thousands)
ASSETS
Homebuilding:
Cash and cash equivalents	$	259,998		$	3,263	$	42		$	—		$	263,303
Marketable securities		494,277			—		—			—			494,277
Restricted cash		—			1,080		—			—			1,080
Trade and other receivables		7,231			26,591		237			—			34,059
Inventories
Housing completed or under construction		—			323,099		23,566			—			346,665
Land and land under development		—			468,806		19,636			—			488,442
Investment in subsidiaries		134,911			—		—			(134,911	)		—
Other assets, net		43,276			30,259		8,126			22			81,683
Total Homebuilding Assets		939,693			853,098		51,607			(134,889	)		1,709,509
Financial Services:
Cash and cash equivalents		—			—	$	22,436			—			22,436
Marketable securities		—			—		35,955			—			35,955
Mortgage loans held-for-sale, net		—			—		54,990			—			54,990
Prepaid expenses and other assets		—			—		4,381			(1,700	)		2,681
Total Financial Services Assets		—			—		117,762			(1,700	)		116,062
Total Asset	$	939,693		$	853,098	$	169,369		$	(136,589	)	$	1,825,571
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	62		$	31,682	$	1,672			—		$	33,416
Accrued liabilities		52,562			46,650		5,371			22			104,605
Advances and notes payable to parent and subsidiaries		(725,285	)		708,320		25,734			(8,769	)		—
Senior notes, net		744,288			—		—			—			744,288
Total Homebuilding Liabilities		71,627			786,652		32,777			(8,747	)		882,309
Financial Services:
Accounts payable and other liabilities		—			—		49,356			—		$	49,356
Advances and notes payable to parent and subsidiaries		—			—		(7,069	)		7,069			—
Mortgage repurchase facility		—			—		25,840			—			25,840
Senior notes, net		—			—		—			—			—
Total Financial Services Liabilities		—			—		68,127			7,069			75,196
Total Liabilities		71,627			786,652		100,904			(1,678	)		957,505
Equity:
Total Stockholder's Equity		868,066			66,446		68,465			(134,911	)		868,066
Total Liabilities and Stockholders' Equity	$	939,693		$	853,098	$	169,369		$	(136,589	)	$	1,825,571

Supplemental Condensed Combining Balance Sheets

	December 31, 2011
	MDC			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated MDC
	(dollars in thousands)
ASSETS
Homebuilding:
Cash and cash equivalents		313,566		$	2,771	$	81		$	—		$	316,418
Marketable securities		485,434			—		—			—			485,434
Restricted cash		—			667		—			—			667
Trade and other receivables		8,368			12,740		485			—			21,593
Inventories
Housing completed or under construction		—			280,932		19,782			—			300,714
Land and land under development		—			489,305		16,033			—			505,338
Investment in subsidiaries		126,768			—		—			(126,768	)		—
Other assets, net		45,287			33,074		8,435			(96	)		86,700
Total Homebuilding Assets		979,423			819,489		44,816			(126,864	)		1,716,864
Financial Services:
Cash and cash equivalents		—			—		26,943			—			26,943
Marketable securities		—			—		34,509			—			34,509
Mortgage loans held-for-sale, net		—			—		78,335			—			78,335
Prepaid expenses and other assets		—			—		3,774			(1,700	)		2,074
Total Financial Services Assets		—			—		143,561			(1,700	)		141,861
Total Asset	$	979,423		$	819,489	$	188,377		$	(128,564	)	$	1,858,725
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable		—			23,409		2,236			—		$	25,645
Accrued liabilities		67,199			50,271		1,814			(96	)		119,188
Advances and notes payable to parent and subsidiaries		(700,520	)		682,088		21,998			(3,566	)		0
Senior notes, net		744,108			—		—			—			744,108
Total Homebuilding Liabilities		110,787			755,768		26,048			(3,662	)		888,941
Financial Services:
Accounts payable and other liabilities		—			—		52,446			—		$	52,446
Advances and notes payable to parent and subsidiaries		—			—		(1,866	)		1,866			0
Mortgage repurchase facility		—			—		48,702			—			48,702
Senior notes, net		—			—		—			—			—
Total Financial Services Liabilities		—			—		99,282			1,866			101,148
Total Liabilities	$	110,787		$	755,768	$	125,330		$	(1,796	)	$	990,089
Equity:
Total Stockholder's Equity		868,636			63,721		63,047			(126,768	)		868,636
Total Liabilities and Stockholders' Equity	$	979,423		$	819,489	$	188,377		$	(128,564	)	$	1,858,725

Supplemental Condensed Combining Statements Of Operations

Supplemental Condensed Combining Statements of Operations

	Three Months Ended March 31, 2012
	MDC			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated MDC
				(Dollars in thousands)
Homebuilding:
Revenues	$	—		$	175,532		$	12,006		$	(1,270	)	$	186,268
Cost of Sales		—			(151,074	)		(10,340	)		1,270			(160,144	)
Asset impairments		—			—			—			—			—
Gross Margin		—			24,458			1,666			—			26,124
Selling, general, and administrative expenses		(12,308	)		(21,993	)		177			—			(34,124	)
Equity income (loss) of subsidiaries		7,705			—			—			(7,705	)		—
Interest expense		(778	)		(30	)		—			—			(808	)
Interest income		5,910			3			—			—			5,913
Other income (expense)		18			117			23			—			158
Homebuilding pretax income (loss)		547			2,555			1,866			(7,705	)		(2,737	)
Financial Services:
Financial Services pretax income (loss)		—			—			4,862			—			4,862
Income (loss) before income taxes		547			2,555			6,728			(7,705	)		2,125
(Provision) benefit for income taxes		1,718			168			(1,746	)		—			140
Net income (loss)	$	2,265		$	2,723		$	4,982		$	(7,705	)	$	2,265

	Three Months Ended March 31, 2011
	MDC			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated MDC
				(Dollars in thousands)
Homebuilding:
Revenues	$	—		$	166,101		$	—		$	(2,514	)	$	163,587
Cost of Sales		—			(143,512	)		—			2,514			(140,998	)
Asset impairments		—			(279	)		—			—			(279	)
Gross Margin		—			22,310			—			—			22,310
Selling, general, and administrative expenses		(17,082	)		(30,572	)		—			—			(47,654	)
Equity income (loss) of subsidiaries		(6,052	)		—			—			6,052			—
Interest expense		(8,667	)		—			—			—			(8,667	)
Interest income		6,476			12			—			—			6,488
Other income (expense)		2,314			(281	)		6			—			2,039
Homebuilding pretax income (loss)		(23,011	)		(8,531	)		6			6,052			(25,484	)
Financial Services:
Financial Services pretax income (loss)		—			—			1,780			—			1,780
Income (loss) before income taxes		(23,011	)		(8,531	)		1,786			6,052			(23,704	)
(Provision) benefit for income taxes		3,132			1,376			(683	)		—			3,825
Net income (loss)	$	(19,879	)	$	(7,155	)	$	1,103		$	6,052		$	(19,879	)

Supplemental Condensed Combining Statements Of Cash Flows

Supplemental Condensed Combining Statements of Cash Flows

	Three Months Ended March 31, 2012
	MDC			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated MDC
				(Dollars in thousands)
Net cash provided by (used in) operating activities	$	(6,281	)	$	(25,595	)	$	20,768		$	(7,705	)	$	(18,813	)
Net cash used in investing activities		(2,385	)		(147	)		(1,421	)		—			(3,953	)
Financing activities:
Payments from (advances to) subsidiaries		(32,908	)		26,234			(1,031	)		7,705			—
Proceeds from issuance of senior notes, net		—			—			—			—			—
Mortgage repurchase facility		—			—			(22,862	)		—			(22,862	)
Dividend payments		(11,994	)		—			—			—			(11,994	)
Net cash provided by (used in) financing activities		(44,902	)		26,234			(23,893	)		7,705			(34,856	)
Net (decrease) increase in cash and cash equivalents		(53,568	)		492			(4,546	)		—			(57,622	)
Cash and cash equivalents
Beginning of period		313,566			2,771			27,024			—			343,361
End of period	$	259,998		$	3,263		$	22,478		$	—		$	285,739

	Three Months Ended March 31, 2011
	MDC			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated MDC
				(Dollars in thousands)
Net cash provided by (used in) operating activities	$	(19,469	)	$	(71,781	)	$	24,840		$	8,709		$	(57,701	)
Net cash provided by (used in) investing activities		104,104			(11	)		948			—			105,041
Financing activities:
Payments from (advances to) subsidiaries		(58,100	)		70,446			(3,637	)		(8,709	)		—
Proceeds from issuance of senior notes, net		—			—			—			—			—
Mortgage repurchase facility		—			—			(18,698	)		—			(18,698	)
Dividend payments		(11,824	)		—			—			—			(11,824	)
Net cash provided by (used in) financing activities		(69,924	)		70,446			(22,335	)		(8,709	)		(30,522	)
Net increase (decrease) in cash and cash equivalents		14,711			(1,346	)		3,453			—			16,818
Cash and cash equivalents
Beginning of period		535,035			4,287			32,903			—			572,225
End of period	$	549,746		$	2,941		$	36,356		$	—		$	589,043