6.	Inventories

The following table sets forth, by reportable segment, information relating to our homebuilding inventories:


	June 30, 2012		December 31, 2011
	(Dollars in thousands)
Housing Completed or Under Construction
West	$	178,425	$	121,343
Mountain		142,118		80,964
East		97,774		81,623
Other Homebuilding		18,970		16,784

Subtotal		437,287		300,714

Land and Land Under Development
West		149,579		199,941
Mountain		134,172		164,961
East		120,657		127,291
Other Homebuilding		10,058		13,145

Subtotal		414,466		505,338

Total Inventories	$	851,753	$	806,052

In accordance with ASC Topic 360, Property, Plant, and Equipment (“ASC 360”), homebuilding inventories are carried at cost unless events and circumstances indicate that the carrying value of the underlying subdivision may not be recoverable. The Company evaluates its inventories for impairment at each quarter end. Please see “Inventories” in Note 5 for more detail on the methods and assumptions that were used to estimate the fair value of the Company’s inventories. Based on the impairment review, we did not record any inventory impairments during the three and six months ended June 30, 2012.

The inventory impairments recognized for the three and six months ended June 30, 2011 are shown in the table below:


	Three Months Ended June 30, 2011		Six Months Ended June 30, 2011
	(Dollars in thousands)
Housing Completed or Under Construction
West	$	954	$	954
Mountain		239		239
East		—		—
Other Homebuilding		—		—

Subtotal		1,193		1,193

Land and Land Under Development
West		5,919		5,919
Mountain		1,236		1,236
East		285		285
Other Homebuilding		—		—

Subtotal		7,440		7,440

Consolidated Inventory Impairments	$	8,633	$	8,633

The inventory impairments recorded during the three and six months ended June 30, 2011 resulted from a decline in the market value of land and homes primarily in our California, Nevada and Utah markets.