Note 21 - Supplemental Guarantor Information (Tables)

6 Months Ended

Jun. 30, 2012

Supplemental Condensed Consolidating Statements of Operations [Table Text Block]

	Three Months Ended June 30, 2012
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	113,416		$	141,476		$	19,980		$	―		$	274,872
Cost of sales		(88,545	)		(113,620	)		(16,421	)		―			(218,586	)
Gross margin		24,871			27,856			3,559			―			56,286
Selling, general and administrative expenses		(19,145	)		(20,533	)		(2,274	)		―			(41,952	)
Loss from unconsolidated joint ventures		(276	)		(91	)		(779	)		―			(1,146	)
Equity income (loss) of subsidiaries		2,867			―			―			(2,867	)		―
Interest expense		4,383			(4,343	)		(1,657	)		―			(1,617	)
Other income (expense)		(205	)		251			261			―			307
Homebuilding pretax income (loss)		12,495			3,140			(890	)		(2,867	)		11,878
Financial Services:
Financial services pretax income (loss)		(84	)		84			2,574			―			2,574
Income (loss) before income taxes		12,411			3,224			1,684			(2,867	)		14,452
(Provision) benefit for income taxes		1,852			(1,225	)		(816	)		―			(189	)
Net income (loss)	$	14,263		$	1,999		$	868		$	(2,867	)	$	14,263

	Three Months Ended June 30, 2011
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments		Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	82,010		$	110,863		$	11,472		$	―	$	204,345
Cost of sales		(66,305	)		(93,676	)		(9,566	)		―		(169,547	)
Gross margin		15,705			17,187			1,906			―		34,798
Selling, general and administrative expenses		(20,145	)		(17,309	)		(989	)		―		(38,443	)
Income (loss) from unconsolidated joint ventures		92			(10	)		(461	)		―		(379	)
Equity income (loss) of subsidiaries		(3,296	)		―			―			3,296		―
Interest expense		(1,779	)		(5,151	)		(514	)		―		(7,444	)
Other income (expense)		477			52			448			―		977
Homebuilding pretax income (loss)		(8,946	)		(5,231	)		390			3,296		(10,491	)
Financial Services:
Financial services pretax income (loss)		(41	)		41			147			―		147
Income (loss) before income taxes		(8,987	)		(5,190	)		537			3,296		(10,344	)
(Provision) benefit for income taxes		(1,532	)		1,230			127			―		(175	)
Net income (loss	$	(10,519	)	$	(3,960	)	$	664		$	3,296	$	(10,519	)

	Six Months Ended June 30, 2012
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	187,671		$	266,365		$	44,538		$	―		$	498,574
Cost of sales		(146,500	)		(213,923	)		(37,124	)		―			(397,547	)
Gross margin		41,171			52,442			7,414			―			101,027
Selling, general and administrative expenses		(36,367	)		(38,522	)		(4,755	)		―			(79,644	)
Loss from unconsolidated joint ventures		(958	)		(119	)		(1,591	)		―			(2,668	)
Equity income (loss) of subsidiaries		4,785			―			―			(4,785	)		―
Interest expense		7,739			(8,584	)		(3,302	)		―			(4,147	)
Other income (expense)		3,808			300			483			―			4,591
Homebuilding pretax income (loss)		20,178			5,517			(1,751	)		(4,785	)		19,159
Financial Services:
Financial services pretax income (loss)		(147	)		147			4,003			―			4,003
Income (loss) before income taxes		20,031			5,664			2,252			(4,785	)		23,162
(Provision) benefit for income taxes		2,755			(1,982	)		(1,149	)		―			(376	)
Net income (loss)	$	22,786		$	3,682		$	1,103		$	(4,785	)	$	22,786

	Six Months Ended June 30, 2011
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments		Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	144,700		$	185,895		$	17,449		$	―	$	348,044
Cost of sales		(113,408	)		(156,780	)		(13,671	)		―		(283,859	)
Gross margin		31,292			29,115			3,778			―		64,185
Selling, general and administrative expenses		(37,755	)		(31,339	)		(1,610	)		―		(70,704	)
Income (loss) from unconsolidated joint ventures		70			(36	)		(670	)		―		(636	)
Equity income (loss) of subsidiaries		(8,282	)		―			―			8,282		―
Interest expense		(6,907	)		(10,032	)		(1,020	)		―		(17,959	)
Other income (expense)		394			22			853			―		1,269
Homebuilding pretax income (loss)		(21,188	)		(12,270	)		1,331			8,282		(23,845	)
Financial Services:
Financial services pretax income (loss)		(56	)		56			(1,196	)		―		(1,196	)
Income (loss) before income taxes		(21,244	)		(12,214	)		135			8,282		(25,041	)
(Provision) benefit for income taxes		(4,072	)		3,252			545			―		(275	)
Net income (loss)	$	(25,316	)	$	(8,962	)	$	680		$	8,282	$	(25,316	)

Supplemental Condensed Consolidating Balance Sheets [Table Text Block]

	June 30, 2012
	Standard Pacific Corp.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and equivalents	$	17,371	$	213	$	274,523	$	―		$	292,107
Restricted cash		―		―		25,135		―			25,135
Trade and other receivables		571,475		5,226		24,366		(582,080	)		18,987
Inventories - Owned		693,965		665,486		245,687		―			1,605,138
Inventories - Not owned		44,489		39,717		2,228		―			86,434
Investments in unconsolidated joint ventures		23,475		2,326		59,664		―			85,465
Investments in subsidiaries		698,281		―		―		(698,281	)		―
Deferred income taxes, net		3,212		―		―		148			3,360
Other assets		31,065		3,130		630		―			34,825
Total Homebuilding Assets		2,083,333		716,098		632,233		(1,280,213	)		2,151,451
Financial Services:
Cash and equivalents		―		―		6,775		―			6,775
Restricted cash		―		―		1,295		―			1,295
Mortgage loans held for sale, net		―		―		70,091		―			70,091
Mortgage loans held for investment, net		―		―		9,522		―			9,522
Other assets		―		―		6,329		(3,142	)		3,187
Total Financial Services Assets		―		―		94,012		(3,142	)		90,870
Total Assets	$	2,083,333	$	716,098	$	726,245	$	(1,283,355	)	$	2,242,321
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	5,674	$	8,650	$	2,052	$	―		$	16,376
Accrued liabilities		106,287		433,219		226,525		(562,644	)		203,387
Secured project debt and other notes payable		―		―		4,934		―			4,934
Senior notes payable		1,276,258		―		―		―			1,276,258
Senior subordinated notes payable		38,490		―		―		―			38,490
Total Homebuilding Liabilities		1,426,709		441,869		233,511		(562,644	)		1,539,445
Financial Services:
Accounts payable and other liabilities		―		―		8,255		(6,430	)		1,825
Mortgage credit facilities		―		―		60,427		(16,000	)		44,427
Total Financial Services Liabilities		―		―		68,682		(22,430	)		46,252
Total Liabilities		1,426,709		441,869		302,193		(585,074	)		1,585,697
Equity:
Total Stockholders' Equity		656,624		274,229		424,052		(698,281	)		656,624
Total Liabilities and Equity	$	2,083,333	$	716,098	$	726,245	$	(1,283,355	)	$	2,242,321

	December 31, 2011
	Standard Pacific Corp.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and equivalents	$	66,757	$	176	$	339,852	$	―		$	406,785
Restricted cash		―		―		31,372		―			31,372
Trade and other receivables		485,835		5,435		23,898		(503,643	)		11,525
Inventories - Owned		647,577		623,945		205,717		―			1,477,239
Inventories - Not owned		6,123		51,684		2,033		―			59,840
Investments in unconsolidated joint ventures		24,082		2,340		55,385		―			81,807
Investments in subsidiaries		766,496		―		―		(766,496	)		―
Deferred income taxes, net		5,178		―		―		148			5,326
Other assets		32,496		2,965		232		―			35,693
Total Homebuilding Assets		2,034,544		686,545		658,489		(1,269,991	)		2,109,587
Financial Services:
Cash and equivalents		―		―		3,737		―			3,737
Restricted cash		―		―		1,295		―			1,295
Mortgage loans held for sale, net		―		―		73,811		―			73,811
Mortgage loans held for investment, net		―		―		10,115		―			10,115
Other assets		―		―		4,901		(3,063	)		1,838
Total Financial Services Assets		―		―		93,859		(3,063	)		90,796
Total Assets	$	2,034,544	$	686,545	$	752,348	$	(1,273,054	)	$	2,200,383
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	6,911	$	9,887	$	1,031	$	―		$	17,829
Accrued liabilities		82,462		406,111		181,082		(483,765	)		185,890
Secured project debt and other notes payable		―		―		3,531		―			3,531
Senior notes payable		1,275,093		―		―		―			1,275,093
Senior subordinated notes payable		46,324		―		―		―			46,324
Total Homebuilding Liabilities		1,410,790		415,998		185,644		(483,765	)		1,528,667
Financial Services:
Accounts payable and other liabilities		―		―		5,947		(4,793	)		1,154
Mortgage credit facilities		―		―		64,808		(18,000	)		46,808
Total Financial Services Liabilities		―		―		70,755		(22,793	)		47,962
Total Liabilities		1,410,790		415,998		256,399		(506,558	)		1,576,629
Equity:
Total Stockholders' Equity		623,754		270,547		495,949		(766,496	)		623,754
Total Liabilities and Equity	$	2,034,544	$	686,545	$	752,348	$	(1,273,054	)	$	2,200,383

Supplemental Condensed Consolidating Statements of Cash Flows [Table Text Block]

	Six Months Ended June 30, 2012
	Standard Pacific Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries				Consolidating Adjustments		Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Cash Flows From Operating Activities:
Net cash provided by (used in) operating activities	$	(112,860	)	$	405			$	13,737		$	―	$	(98,718	)
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		(1,717	)		(105	)			(6,459	)		―		(8,281	)
Distributions from unconsolidated homebuilding joint ventures		1,206			―				589			―		1,795
Other investing activities		(772	)		(263	)			(370	)		―		(1,405	)
Net cash provided by (used in) investing activities		(1,283	)		(368	)			(6,240	)		―		(7,891	)
Cash Flows From Financing Activities:
Change in restricted cash		―			―				6,237			―		6,237
Principal payments on secured project debt and other notes payable		―			―				(644	)		―		(644	)
Principal payments on senior subordinated notes payable		(9,990	)		―				―			―		(9,990	)
Net proceeds from (payments on) mortgage credit facilities		―			―				(2,381	)		―		(2,381	)
Distributions from (contributions to) Corporate and subsidiaries		73,000			―				(73,000	)		―		―
Proceeds from the exercise of stock options		1,747			―				―			―		1,747
Net cash provided by (used in) financing activities		64,757			―				(69,788	)		―		(5,031	)
Net increase (decrease) in cash and equivalents		(49,386	)		37				(62,291	)		―		(111,640	)
Cash and equivalents at beginning of period		66,757			176				343,589			―		410,522
Cash and equivalents at end of period	$	17,371		$	213			$	281,298		$	―	$	298,882

	Six Months Ended June 30, 2011
	Standard Pacific Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments		Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Cash Flows From Operating Activities:
Net cash provided by (used in) operating activities	$	(228,051	)	$	401		$	(4,463	)	$	―	$	(232,113	)
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		(5,251	)		(97	)		(3,472	)		―		(8,820	)
Distributions from unconsolidated homebuilding joint ventures		―			―			49			―		49
Other investing activities		(860	)		(57	)		164			―		(753	)
Net cash provided by (used in) investing activities		(6,111	)		(154	)		(3,259	)		―		(9,524	)
Cash Flows From Financing Activities:
Change in restricted cash		―			―			(5,576	)		―		(5,576	)
Principal payments on secured project debt and other notes payable		―			(218	)		(305	)		―		(523	)
Payment of debt issuance costs		(4,575	)		―			―			―		(4,575	)
Net proceeds from (payments on) mortgage credit facilities		―			―			4,529			―		4,529
Payment of common stock issuance costs		(324	)		―			―			―		(324	)
Proceeds from the exercise of stock options		410			―			―			―		410
Net cash provided by (used in) financing activities		(4,489	)		(218	)		(1,352	)		―		(6,059	)
Net increase (decrease) in cash and equivalents		(238,651	)		29			(9,074	)		―		(247,696	)
Cash and equivalents at beginning of period		260,869			217			470,285			―		731,371
Cash and equivalents at end of period	$	22,218		$	246		$	461,211		$	―	$	483,675