Note 23 - Supplemental Guarantor Information (Tables)

12 Months Ended

Dec. 31, 2014

Supplemental Guarantor Information [Abstract]

Condensed Balance Sheet [Table Text Block]

	December 31, 2014
					Non-
			Guarantor		Guarantor		Eliminating			Consolidated
	MDC		Subsidiaries		Subsidiaries		Entries			MDC
	Dollars in thousands
ASSETS
Homebuilding:
Cash and cash equivalents	$	119,951	$	2,691	$	-	$	-		$	122,642
Marketable securities		140,878		-		-		-			140,878
Restricted cash		-		2,816		-		-			2,816
Trade and other receivables		6,573		24,449		-		(2,467	)		28,555
Inventories:
Housing completed or under construction		-		732,692		-		-			732,692
Land and land under development		-		935,268		-		-			935,268
Total inventories		-		1,667,960		-		-			1,667,960
Intercompany receivables		1,418,705		2,854		5,295		(1,426,854	)		-
Investment in subsidiaries		260,874		-		-		(260,874	)		-
Deferred tax asset, net		137,529		-		-		2,957			140,486
Metropolitan district bond securities (related party)		18,203		-		-		-			18,203
Other assets		41,743		56,744		-		-			98,487
Total Homebuilding Assets		2,144,456	$	1,757,514		5,295		(1,687,238	)		2,220,027
Financial Services:
Cash and cash equivalents		-		-		31,183		-			31,183
Marketable securities		-		-		15,262		-			15,262
Intercompany receivables		-		-		39,513		(39,513	)		-
Mortgage loans held-for-sale, net		-		-		88,392		-			88,392
Other assets		-		-		6,531		(2,957	)		3,574
Total Financial Services Assets		-		-		180,881		(42,470	)		138,411
Total Assets	$	2,144,456	$	1,757,514	$	186,176	$	(1,729,708	)	$	2,358,438
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	-	$	35,445	$	-	$	-		$	35,445
Accrued liabilities		7,007		105,529		67		2,514			115,117
Advances and notes payable to parent and subsidiaries		47,663		1,392,111		23,809		(1,463,583	)		-
Revolving credit facility		15,000		-		-		-			15,000
Senior notes, net		846,450		-		-		-			846,450
Total Homebuilding Liabilities		916,120		1,533,085		23,876		(1,461,069	)		1,012,012
Financial Services:
Accounts payable and accrued liabilities		-		-		62,249		(4,981	)		57,268
Advances and notes payable to parent and subsidiaries		-		-		2,784		(2,784	)		-
Mortgage repurchase facility		-		-		60,822		-			60,822
Total Financial Services Liabilities		-		-		125,855		(7,765	)		118,090
Total Liabilities		916,120		1,533,085		149,731		(1,468,834	)		1,130,102
Equity:
Total Stockholders' Equity		1,228,336		224,429		36,445		(260,874	)		1,228,336
Total Liabilities and Stockholders' Equity	$	2,144,456	$	1,757,514	$	186,176	$	(1,729,708	)	$	2,358,438

	December 31, 2013
					Non-
			Guarantor		Guarantor		Eliminating			Consolidated
	MDC		Subsidiaries		Subsidiaries		Entries			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 and other 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, net		172,975		-		-		3,287			176,262
Metropolitan district bond securities (related party)		12,729		-		-		-			12,729
Other assets, net		41,204		43,569		-		-			84,773
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
Advances and notes payable to parent and subsidiaries		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 accrued liabilities		-		-		59,891		(4,252	)		55,639
Advances and notes payable to parent and subsidiaries		-		-		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

Condensed Income Statement [Table Text Block]

	Year Ended December 31, 2014
							Non-
				Guarantor			Guarantor			Eliminating			Consolidated
	MDC			Subsidiaries			Subsidiaries			Entries			MDC
	(Dollars in thousands)
Homebuilding:
Revenues	$	-		$	1,650,631		$	-		$	-		$	1,650,631
Cost of Sales		-			(1,368,140	)		(40	)		-			(1,368,180	)
Inventory impairments		-			(1,760	)		-			-			(1,760	)
Gross margin		-			280,731			(40	)		-			280,691
Selling, general, and administrative expenses		(38,290	)		(164,287	)		-			(676	)		(203,253	)
Equity income of subsidiaries		86,223			-			-			(86,223	)		-
Interest and other income		24,824			1,517			15			(46	)		26,310
Interest expense		(685	)		-			-			-			(685	)
Other expense		(8	)		(4,805	)		-			-			(4,813	)
Losses from early extinguishments of debt		(18,153	)		-			-			-			(18,153	)
Other-than-temporary impairment of marketable securities		(4,293	)		-			-			-			(4,293	)
Homebuilding pretax income (loss)		49,618			113,156			(25	)		(86,945	)		75,804
Financial Services:
Financial services pretax income		-			-			23,949			722			24,671
Income before income taxes		49,618			113,156			23,924			(86,223	)		100,475
Benefit from (provision for) income taxes		13,525			(42,044	)		(8,813	)		-			(37,332	)
Net income	$	63,143		$	71,112		$	15,111		$	(86,223	)	$	63,143
Other comprehensive income related to available-for-sale securities, net of tax		(1,120	)		-			(22	)		22			(1,120	)
Comprehensive income	$	62,023		$	71,112		$	15,089		$	(86,201	)	$	62,023

	Year Ended December 31, 2013
							Non-
				Guarantor			Guarantor			Eliminating			Consolidated
	MDC			Subsidiaries			Subsidiaries			Entries			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 and other income		28,329			1,503			14			(48	)		29,798
Interest expense		(1,726	)		-			-			-			(1,726	)
Other expense		(14	)		(3,769	)		-			-			(3,783	)
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
Benefit from (provision 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
							Non-
				Guarantor			Guarantor			Eliminating			Consolidated
	MDC			Subsidiaries			Subsidiaries			Entries			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 and other income		24,035			949			14			-			24,998
Interest expense		(778	)		(30	)		-			-			(808	)
Other expense		(126	)		(1,239	)		(7	)		-			(1,372	)
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
Benefit from (provision 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

Condensed Cash Flow Statement [Table Text Block]

	Year Ended December 31, 2014
							Non-
				Guarantor			Guarantor			Eliminating			Consolidated
	MDC			Subsidiaries			Subsidiaries			Entries			MDC
	(Dollars in thousands)
Net cash provided by (used in) operating activities	$	(62,289	)		(124,317	)		22,959			-		$	(163,647	)
Net cash provided by (used in) investing activities		339,754			(1,093	)		3,692			80,727			423,080
Financing activities:
Payments from (advances to) subsidiaries		-			124,647			(43,920	)		(80,727	)		-
Advances on mortgage repurchase facility, net		-			-			(2,252	)		-			(2,252	)
Proceeds from issuance of senior notes		248,375			-			-			-			248,375
Repayment of senior notes		(517,650	)		-			-			-			(517,650	)
Advances on revolving credit facility, net		15,000			-			-			-			15,000
Dividend payments		(48,820	)		-			-			-			(48,820	)
Excess tax benefits from stock-based compensation		26			-			-			-			26
Proceeds from exercise of stock options		375			-			-			-			375
Net cash provided by (used in) financing activities		(302,694	)		124,647			(46,172	)		(80,727	)		(304,946	)
Net increase (decrease) in cash and cash equivalents		(25,229	)		(763	)		(19,521	)		-			(45,513	)
Cash and cash equivalents:
Beginning of period		145,180			3,454			50,704			-			199,338
End of period	$	119,951		$	2,691		$	31,183		$	-		$	153,825

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

	Year Ended December 31, 2012
							Non-
				Guarantor			Guarantor			Eliminating			Consolidated
	MDC			Subsidiaries			Subsidiaries			Entries			MDC
	(Dollars in thousands)
Net cash provided by (used in) operating activities	$	1,961		$	(96,947	)	$	(13,833	)	$	-		$	(108,819	)
Net cash provided by (used in) investing activities		(109,332	)		(841	)		2,059			86,333			(21,781	)
Financing activities:
Payments from (advances to) subsidiaries		-			98,567			(12,234	)		(86,333	)		-
Advances on mortgage repurchase facility, net		-			-			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 (decrease) 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