Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2011

Summary of Significant Accounting Policies

Summary of activity related to capitalized interest

(in thousands)		2011			2010			2009
Capitalized interest at January 1	$	75,094		$	84,664		$	100,210
Interest capitalized		38,032			31,221			35,931
Interest amortized to cost of sales		(32,068	)		(40,791	)		(51,477	)
Capitalized interest at December 31	$	81,058		$	75,094		$	84,664

Summary of each reporting segment's total number of lots owned and lots controlled under option agreements

	DECEMBER 31, 2011				DECEMBER 31, 2010
		LOTS OWNED	LOTS OPTIONED	TOTAL		LOTS OWNED	LOTS OPTIONED	TOTAL
North		4,981	3,405	8,386		4,997	3,782	8,779
Southeast		4,933	1,894	6,827		5,376	749	6,125
Texas		2,486	1,081	3,567		2,787	1,068	3,855
West		1,937	862	2,799		1,982	568	2,550
Total		14,337	7,242	21,579		15,142	6,167	21,309

Schedule of each reporting segment's total estimated share of lots owned and controlled by the entity under its joint ventures

	DECEMBER 31, 2011				DECEMBER 31, 2010
		LOTS OWNED	LOTS OPTIONED	TOTAL		LOTS OWNED	LOTS OPTIONED	TOTAL
North		150	–	150		150	–	150
Southeast		–	–	–		–	–	–
Texas1		20	–	20		54	–	54
West		172	–	172		166	1,209	1,375
Total		342	–	342		370	1,209	1,579