Capitalization of Interest (Tables)

6 Months Ended

Jun. 30, 2012

Interest Activity

The table set forth below summarizes homebuilding interest activity.

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
	(Dollars in thousands)
Interest incurred	$	10,573		$	18,144		$	21,136		$	36,393
Interest capitalized, beginning of period	$	63,633		$	43,762		$	58,742		$	38,446
Interest capitalized during period		10,573			10,750			20,358			20,269
Less: previously capitalized interest included in home cost of sales		(7,105	)		(5,454	)		(11,999	)		(9,657	)
Interest capitalized, end of period	$	67,101		$	49,058		$	67,101		$	49,058