Inventories

The table below sets forth, by reportable segment, information relating to our homebuilding inventories. Included in land and land under development at

December

31,

2015

was

$1.7

million of land held for sale. We did not have any land held for sale at

December

31,

2016.

	December 31,		December 31,
	2016		2015
	(Dollars in thousands)
Housing Completed or Under Construction:
West	$	470,503	$	365,867
Mountain		277,922		253,578
East		125,774		127,591
Subtotal		874,199		747,036
Land and Land Under Development:
West		499,186		580,682
Mountain		271,252		259,484
East		114,177		176,760
Subtotal		884,615		1,016,926
Total Inventories	$	1,758,814	$	1,763,962

Inventory impairments recognized by segment for the years ended

December

31,

2016,

2015

and

2014

are shown in the table below.

	Year Ended December 31,
	2016		2015		2014
	(Dollars in thousands)
Housing Completed or Under Construction:
West	$	364	$	-	$	-
Mountain		574		250		234
East		1,390		1,378		1,000
Subtotal		2,328		1,628		1,234
Land and Land Under Development:
West		1,036		648		-
Mountain		589		569		526
East		6,220		7,148		-
Subtotal		7,845		8,365		526
Total Inventories	$	10,173	$	9,993	$	1,760

During the year ended

December

31,

2016,

we recorded

$10.2

million of inventory impairments, of which

$7.6

million related to

five

projects in our East segment,

$1.4

million related to

one

project in our West segment and

$1.2

million related to

one

project in our Mountain segment.

During the year ended

December

31,

2015,

we recorded

$10.0

million of inventory impairments, of which

$1.2

million was related to impairments on our land held for sale in

two

communities,

one

in our West segment and

one

in our Mountain segment, each of which the Company was actively marketing and planning on selling in the next

months. The remaining

$8.8

million in impairments related to

nine

projects with the majority coming from our East segment;

four

in Maryland totaling

$3.3

million and

three

in Virginia totaling

$5.2

million.

During the year ended

December

31,

2014,

we recorded

$1.8

million of inventory impairments related to

four

projects,

three

of which were in our Maryland division totaling

million.

The table below provides quantitative data, for the periods presented, used in determining the fair value of the impaired inventory, excluding impairments related to land held for sale.

	Impairment Data								Quantitative Data
Three Months Ended	Total Subdivisions Tested		Inventory Impairments		Fair Value of Inventory After Impairments		Number of Subdivisions Impaired		Discount Rate
	(Dollars in thousands)
March 31, 2016		14	$	-	$	-		-			N/A
June 30, 2016		17		1,600		6,415		2		12%	to	15%
September 30, 2016		25		4,700		12,295		2		15%	to	18%
December 31, 2016		40		3,873		23,657		3		12%	to	15%
Total			$	10,173	$	42,367		7

March 31, 2015		22	$	350	$	3,701		1			9%
June 30, 2015		22		-		-		-			N/A
September 30, 2015		18		3,225		14,836		5		12%	to	15%
December 31, 2015		15		5,200		19,925		3		15%	to	20%
Total			$	8,775	$	38,462		9

March 31, 2014		16	$	-	$	-		-			N/A
June 30, 2014		16		850		4,285		2		11%	to	14%
September 30, 2014		23		-		-		-			N/A
December 31, 2014		21		910		4,646		2			13%
Total			$	1,760	$	8,931		4