Note 24 - Supplemental Guarantor Information (Tables)

12 Months Ended

Dec. 31, 2013

Supplemental Guarantor Information [Abstract]

Condensed Balance Sheet [Table Text Block]

	December 31, 2013
	MDC		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminating Entries			Consolidated MDC
	Dollars in thousands
ASSETS
Homebuilding:
Cash and cash equivalents	$	145,180	$	3,454	$	-	$	-		$	148,634
Marketable securities		569,021		-		-		-			569,021
Restricted cash		-		2,195		-		-			2,195
Trade Receivables		915		27,951		-		(5,459	)		23,407
Inventories:
Housing completed or under construction		-		636,700		-		-			636,700
Land and land under development		-		774,961		-		-			774,961
Total inventories		-		1,411,661		-		-			1,411,661
Intercompany receivables		1,144,292		2,576		1,899		(1,148,767	)		-
Investment in subsidiaries		335,870		-		-		(335,870	)		-
Deferred tax asset		172,975		-		-		3,287			176,262
Other assets, net		53,933		43,569		-		-			97,502
Total Homebuilding Assets		2,422,186		1,491,406		1,899		(1,486,809	)		2,428,682
Financial Services:
Cash and cash equivalents		-		-		50,704		-			50,704
Marketable securities		-		-		19,046		-			19,046
Intercompany receivables		-		-		11,216		(11,216	)		-
Mortgage loans held-for-sale, net		-		-		92,578		-			92,578
Other assets, net		-		-		7,726		(3,287	)		4,439
Total Financial Services Assets		-		-		181,270		(14,503	)		166,767
Total Assets	$	2,422,186	$	1,491,406	$	183,169	$	(1,501,312	)	$	2,595,449
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	13	$	15,033	$	-	$	-		$	15,046
Accrued liabilities		97,612		56,334		82		(1,207	)		152,821
Intercompany payables		15,692		1,121,581		19,668		(1,156,941	)		-
Senior notes, net		1,095,620		-		-		-			1,095,620
Total Homebuilding Liabilities		1,208,937		1,192,948		19,750		(1,158,148	)		1,263,487
Financial Services:
Accounts payable and other liabilities		-		-		59,891		(4,252	)		55,639
Intercompany payables		-		-		3,042		(3,042	)		-
Mortgage repurchase facility		-		-		63,074		-			63,074
Total Financial Services Liabilities		-		-		126,007		(7,294	)		118,713
Total Liabilities		1,208,937		1,192,948		145,757		(1,165,442	)		1,382,200
Equity:
Total Stockholders' Equity		1,213,249		298,458		37,412		(335,870	)		1,213,249
Total Liabilities and Stockholders' Equity	$	2,422,186	$	1,491,406	$	183,169	$	(1,501,312	)	$	2,595,449

	December 31, 2012
	MDC		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminating Entries			Consolidated MDC
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and cash equivalents	$	125,904	$	3,631	$	-	$	-		$	129,535
Marketable securities		519,465		-		-		-			519,465
Restricted cash		-		1,859		-		-			1,859
Trade Receivables		6,563		21,600		-		-			28,163
Inventories:
Housing completed or under construction		-		512,949		-		-			512,949
Land and land under development		-		489,572		-		-			489,572
Total inventories		-		1,002,521		-		-			1,002,521
Intercompany receivables		812,731		2,589		-		(815,320	)		-
Investment in subsidiaries		198,465		-		-		(198,465	)		-
Other assets, net		40,565		37,337		-		-			77,902
Total Homebuilding Assets		1,703,693		1,069,537		-		(1,013,785	)		1,759,445
Financial Services:
Cash and cash equivalents		-		-		30,560		-			30,560
Marketable securities		-		-		32,473		-			32,473
Intercompany receivables		-		-		9,779		(9,779	)		-
Mortgage loans held-for-sale, net		-		-		119,953		-			119,953
Other assets, net		-		-		4,710		(1,700	)		3,010
Total Financial Services Assets		-		-		197,475		(11,479	)		185,996
Total Assets	$	1,703,693	$	1,069,537	$	197,475	$	(1,025,264	)	$	1,945,441
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	-	$	73,055	$	-	$	-		$	73,055
Accrued liabilities		63,886		48,980		5,590		-			118,456
Intercompany payables		14,068		794,179		16,815		(825,062	)		-
Senior notes, net		744,842		-		-		-			744,842
Total Homebuilding Liabilities		822,796		916,214		22,405		(825,062	)		936,353
Financial Services:
Accounts payable and other liabilities		-		-		51,864		-			51,864
Intercompany payables		-		-		1,737		(1,737	)		-
Mortgage repurchase facility		-		-		76,327		-			76,327
Total Financial Services Liabilities		-		-		129,928		(1,737	)		128,191
Total Liabilities		822,796		916,214		152,333		(826,799	)		1,064,544
Equity:
Total Stockholders' Equity		880,897		153,323		45,142		(198,465	)		880,897
Total Liabilities and Stockholders' Equity	$	1,703,693	$	1,069,537	$	197,475	$	(1,025,264	)	$	1,945,441

Condensed Income Statement [Table Text Block]

	Year Ended December 31, 2013
	MDC			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated MDC
	(Dollars in thousands)
Homebuilding:
Revenues	$	-		$	1,630,423		$	-		$	(1,248	)	$	1,629,175
Cost of Sales		-			(1,340,187	)		-			1,248			(1,338,939	)
Inventory impairments		-			(919	)		-			-			(919	)
Gross margin		-			289,317			-			-			289,317
Selling, general, and administrative expenses		(63,506	)		(149,424	)		-			(353	)		(213,283	)
Equity income of subsidiaries		163,157			-			-			(163,157	)		-
Interest income		26,928			10			-			-			26,938
Interest expense		(1,726	)		-			-			-			(1,726	)
Other income (expense), net		1,387			(2,276	)		14			(48	)		(923	)
Homebuilding pretax income (loss)		126,240			137,627			14			(163,558	)		100,323
Financial Services:
Financial services pretax income		-			-			29,101			401			29,502
Income before income taxes		126,240			137,627			29,115			(163,157	)		129,825
(Provision for) benefit for income taxes		188,145			7,507			(11,092	)		-			184,560
Net income	$	314,385		$	145,134		$	18,023		$	(163,157	)	$	314,385
Other comprehensive income related to available for sale securities, net of tax		6,737			-			(119	)		119			6,737
Comprehensive income	$	321,122		$	145,134		$	17,904		$	(163,038	)	$	321,122

	Year Ended December 31, 2012
	MDC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated MDC
	(Dollars in thousands)
Homebuilding:
Revenues	$	-		$	1,162,676		$	-		$	(6,534	)	$	1,156,142
Cost of Sales		-			(984,477	)		-			6,534			(977,943	)
Inventory impairments		-			(1,105	)		-			-			(1,105	)
Gross margin		-			177,094			-			-			177,094
Selling, general, and administrative expenses		(52,880	)		(119,135	)		4,720			-			(167,295	)
Equity income of subsidiaries		81,836			-			-			(81,836	)		-
Interest income		23,381			16			1			-			23,398
Interest expense		(778	)		(30	)		-			-			(808	)
Other income (expense), net		528			(306	)		6			-			228
Homebuilding pretax income (loss)		52,087			57,639			4,727			(81,836	)		32,617
Financial Services:
Financial services pretax income		-			-			28,498			-			28,498
Income before income taxes		52,087			57,639			33,225			(81,836	)		61,115
(Provision for) benefit for income taxes		10,612			1,435			(10,463	)		-			1,584
Net income	$	62,699		$	59,074		$	22,762		$	(81,836	)	$	62,699
Other comprehensive income related to available for sale securities, net of tax		12,078			-			100			(100	)		12,078
Comprehensive income	$	74,777		$	59,074		$	22,862		$	(81,936	)	$	74,777

	Year Ended December 31, 2011
	MDC			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated MDC
	(Dollars in thousands)
Homebuilding:
Revenues	$	-		$	826,656		$	-		$	(9,633	)	$	817,023
Cost of Sales		-			(707,576	)		486			9,633			(697,457	)
Inventory impairments		-			(12,965	)		-			-			(12,965	)
Gross margin		-			106,115			486			-			106,601
Selling, general, and administrative expenses		(57,811	)		(123,095	)		1,801			-			(179,105	)
Equity income of subsidiaries		(18,966	)		-			-			18,966			-
Interest income		26,039			29			-			-			26,068
Interest expense		(20,687	)		(155	)		-			-			(20,842	)
Other income (expense), net		(35,479	)		(7,894	)		23			-			(43,350	)
Homebuilding pretax income (loss)		(106,904	)		(25,000	)		2,310			18,966			(110,628	)
Financial Services:
Financial services pretax income		-			-			3,156			-			3,156
Income before income taxes		(106,904	)		(25,000	)		5,466			18,966			(107,472	)
(Provision for) benefit for income taxes		8,514			2,027			(1,459	)		-			9,082
Net income	$	(98,390	)	$	(22,973	)	$	4,007		$	18,966		$	(98,390	)
Other comprehensive income related to available for sale securities, net of tax		(12,124	)		-			(154	)		154			(12,124	)
Comprehensive income	$	(110,514	)	$	(22,973	)	$	3,853		$	19,120		$	(110,514	)

Condensed Cash Flow Statement [Table Text Block]

	Year Ended December 31, 2013
	MDC			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated MDC
	(Dollars in thousands)
Net cash provided by (used in) operating activities	$	11,994		$	(324,812	)	$	43,269		$	-		$	(269,549	)
Net cash used in investing activities		(345,165	)		(1,260	)		13,151			302,872			(30,402	)
Financing activities:
Intercompany advances (repayments)		-			325,895			(23,023	)		(302,872	)		-
Mortgage repurchase facility		-			-			(13,253	)		-			(13,253	)
Proceeds from issuance of senior notes		346,938			-			-			-			346,938
Excess tax benefit from share-based awards		391			-			-			-			391
Proceeds from the exercise of stock options		5,118			-			-			-			5,118
Net cash provided by (used in) financing activities		352,447			325,895			(36,276	)		(302,872	)		339,194
Net increase in cash and cash equivalents		19,276			(177	)		20,144			-			39,243
Cash and cash equivalents:
Beginning of period (1)		125,904			3,631			30,560			-			160,095
End of period	$	145,180		$	3,454		$	50,704		$	-		$	199,338

	Year Ended December 31, 2012
	MDC			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated MDC
	(Dollars in thousands)
Net cash provided by (used in) operating activities	$	1,961		$	(96,947	)	$	(13,833	)	$	-		$	(108,819	)
Net cash used in investing activities		(109,332	)		(841	)		2,059			86,333			(21,781	)
Financing activities:
Intercompany advances (repayments)		-			98,567			(12,234	)		(86,333	)		-
Mortgage repurchase facility		-			-			27,625			-			27,625
Dividend payments		(96,915	)		-			-			-			(96,915	)
Proceeds from the exercise of stock options		16,624			-			-			-			16,624
Net cash provided by (used in) financing activities		(80,291	)		98,567			15,391			(86,333	)		(52,666	)
Net increase in cash and cash equivalents		(187,662	)		779			3,617			-			(183,266	)
Cash and cash equivalents:
Beginning of period		313,566			2,852			26,943			-			343,361
End of period	$	125,904		$	3,631		$	30,560		$	-		$	160,095

	Year Ended December 31, 2011
	MDC			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminating Entries			Consolidated MDC
	(Dollars in thousands)
Net cash provided by (used in) operating activities	$	(20,496	)	$	(37,048	)	$	(22,740	)	$	-		$	(80,284	)
Net cash used in investing activities		375,139			(30,541	)		(4,261	)		63,927			404,264
Financing activities:
Intercompany advances (repayments)		-			66,154			(2,227	)		(63,927	)		-
Extinguishment of senior notes		(537,724	)		-			-			-			(537,724	)
Mortgage repurchase facility		-			-			23,268			-			23,268
Dividend payments		(47,432	)		-			-			-			(47,432	)
Proceeds from the exercise of stock options		9,044			-			-			-			9,044
Net cash provided by (used in) financing activities		(576,112	)		66,154			21,041			(63,927	)		(552,844	)
Net increase in cash and cash equivalents		(221,469	)		(1,435	)		(5,960	)		-			(228,864	)
Cash and cash equivalents:
Beginning of period		535,035			4,287			32,903			-			572,225
End of period	$	313,566		$	2,852		$	26,943		$	-		$	343,361