Capitalization of Interest (Tables)

12 Months Ended

Dec. 31, 2012

Interest Activity

The table set forth below summarizes homebuilding interest activity.

	Year Ended December 31,
	2012			2011			2010
	(Dollars in thousands)
Homebuilding interest incurred	$	42,315		$	62,290		$	72,076
Less: Interest capitalized		(41,507	)		(41,448	)		(33,919	)
Homebuilding interest expense	$	808		$	20,842		$	38,157
Interest capitalized, beginning of period	$	58,742		$	38,446		$	28,339
Interest capitalized during period		41,507			41,448			33,919
Less: Previously capitalized interest included in home cost of sales		(31,106	)		(21,152	)		(23,812	)
Interest capitalized, end of period	$	69,143		$	58,742		$	38,446