Note 8 - Capitalization of Interest (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Capitalized Interest [Table Text Block]

	Three Months Ended March 31,
	2013			2012
	(Dollars in thousands)
Total interest incurred (1)	$	35,027		$	35,315
Less: Interest capitalized to inventories owned		(34,201	)		(30,992	)
Less: Interest capitalized to investments in unconsolidated joint ventures		(826	)		(1,793	)
Interest expense	$	―		$	2,530
Interest previously capitalized to inventories owned, included in cost of home sales	$	27,696		$	18,556
Interest previously capitalized to inventories owned, included in cost of land sales	$	189		$	19
Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures	$	169		$	204
Interest capitalized in ending inventories owned	$	227,718		$	200,943
Interest capitalized as a percentage of inventories owned		11.1	%		13.2	%
Interest capitalized in ending investments in unconsolidated joint ventures	$	7,578		$	10,700
Interest capitalized as a percentage of investments in unconsolidated joint ventures		14.3	%		13.0	%