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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash Flows From Operating Activities:    
Net income (loss) $ 22,786 $ (25,316)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Loss from unconsolidated joint ventures 2,668 636
Cash distributions of income from unconsolidated joint ventures 160 20
Depreciation and amortization 1,209 1,902
Loss on disposal of property and equipment 3  
Amortization of stock-based compensation 2,959 5,459
Inventory impairment charges and deposit write-offs 133 5,959
Changes in cash and equivalents due to:    
Trade and other receivables (7,462) (11,493)
Mortgage loans held for sale 4,103 (4,770)
Inventories - owned (115,187) (194,058)
Inventories - not owned (3,499) (12,800)
Other assets (77) 2,028
Accounts payable (1,453) (138)
Accrued liabilities (5,061) 458
Net cash provided by (used in) operating activities (98,718) (232,113)
Cash Flows From Investing Activities:    
Investments in unconsolidated homebuilding joint ventures (8,281) (8,820)
Distributions from unconsolidated homebuilding joint ventures 1,795 49
Other investing activities (1,405) (753)
Net cash provided by (used in) investing activities (7,891) (9,524)
Cash Flows From Financing Activities:    
Change in restricted cash 6,237 (5,576)
Principal payments on secured project debt and other notes payable (644) (523)
Principal payments on senior subordinated notes payable (9,990)  
Payment of debt issuance costs   (4,575)
Net proceeds from (payments on) mortgage credit facilities (2,381) 4,529
Payment of common stock issuance costs   (324)
Proceeds from the exercise of stock options 1,747 410
Net cash provided by (used in) financing activities (5,031) (6,059)
Net increase (decrease) in cash and equivalents (111,640) (247,696)
Cash and equivalents at beginning of period 410,522 731,371
Cash and equivalents at end of period 298,882 483,675
Homebuilding restricted cash at end of period 25,135 33,814
Financial services restricted cash at end of period 1,295 2,870
Cash and equivalents and restricted cash at end of period $ 325,312 $ 520,359