7.	Inventories

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


	March 31,		December 31,
	2013		2012
	(Dollars in thousands)
Housing Completed or Under Construction:
West	$	202,247	$	200,858
Mountain		176,350		183,522
East		143,064		128,569

Subtotal		521,661		512,949

Land and Land Under Development:
West		283,845		230,344
Mountain		133,360		137,221
East		117,233		122,007

Subtotal		534,438		489,572

Total Inventories	$	1,056,099	$	1,002,521

In accordance with ASC 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. We evaluate inventories for impairment at each quarter end. Please see “Inventories” in Note 6 for more detail on the methods and assumptions that were used to estimate the fair value of our inventories. Based on the impairment review, we did not record any inventory impairments during the three months ended March 31, 2013 or 2012.