Note 12 - Insurance Reserves

12 Months Ended

Dec. 31, 2014

Insurance Loss Reserves [Abstract]

Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]

12.           Insurance Reserves

The following table summarizes the insurance reserve activity for the years ended December 31, 2014, 2013 and 2012. The insurance reserve is included as a component of accrued liabilities in the financial services section of the accompanying consolidated balance sheets.

	December 31,
	2014			2013			2012
	(Dollars in thousands)
Balance at beginning of period	$	49,637		$	47,852		$	49,376
Expense provisions		6,316			7,065			4,565
Cash payments, net of recoveries		(5,483	)		(5,280	)		(8,020	)
Adjustments		-			-			1,931
Balance at end of period	$	50,470		$	49,637		$	47,852

The $1.9 million adjustment to increase our insurance reserve during the year ended December 31, 2012 primarily resulted from an increase in the severity and frequency of insurance claim experience relative to prior period estimates. No such adjustments were required for the years ended December 31, 2014 and 2013.

In the ordinary course of business, we make payments from our insurance reserves to settle litigation claims arising primarily from our homebuilding activities. These payments are irregular in both their timing and their magnitude. As a result, the cash payments, net of recoveries shown for the years ended December 31, 2014, 2013, and 2012, are not necessarily indicative of what future cash payments will be for subsequent periods.