Note 21 - Supplemental Guarantor Information (Tables)

6 Months Ended

Jun. 30, 2014

Supplemental Guarantor Information [Abstract]

Supplemental Condensed Consolidating Statements of Operations [Table Text Block]

	Three Months Ended June 30, 2014
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	210,663		$	250,945		$	130,878		―			$	592,486
Cost of sales		(155,611	)		(187,801	)		(91,134	)	―				(434,546	)
Gross margin		55,052			63,144			39,744		―				157,940
Selling, general and administrative expenses		(25,637	)		(32,286	)		(9,912	)	―				(67,835	)
Income (loss) from unconsolidated joint ventures		4			(5	)		(461	)	―				(462	)
Equity income of subsidiaries		41,577		―			―				(41,577	)	―
Interest income (expense), net		3,270			(2,848	)		(422	)	―			―
Other income (expense)		(910	)		(223	)		770		―				(363	)
Homebuilding pretax income		73,356			27,782			29,719			(41,577	)		89,280
Financial Services:
Financial services pretax income	―			―				2,566		―				2,566
Income before taxes		73,356			27,782			32,285			(41,577	)		91,846
Provision for income taxes		(16,893	)		(10,289	)		(8,201	)	―				(35,383	)
Net income	$	56,463		$	17,493		$	24,084		$	(41,577	)	$	56,463

	Three Months Ended June 30, 2013
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	195,697		$	192,595		$	50,389		―			$	438,681
Cost of sales		(147,969	)		(146,740	)		(41,210	)	―				(335,919	)
Gross margin		47,728			45,855			9,179		―				102,762
Selling, general and administrative expenses		(22,921	)		(26,630	)		(5,047	)	―				(54,598	)
Income (loss) from unconsolidated joint ventures		360			(52	)		(161	)	―				147
Equity income of subsidiaries		15,991		―			―				(15,991	)	―
Interest income (expense), net		4,282			(3,089	)		(1,193	)	―			―
Other income (expense)		(1,509	)		(141	)		403		―				(1,247	)
Homebuilding pretax income		43,931			15,943			3,181			(15,991	)		47,064
Financial Services:
Financial services pretax income	―			―				4,080		―				4,080
Income before taxes		43,931			15,943			7,261			(15,991	)		51,144
Provision for income taxes		(795	)		(5,555	)		(1,658	)	―				(8,008	)
Net income	$	43,136		$	10,388		$	5,603		$	(15,991	)	$	43,136

	Six Months Ended June 30, 2014
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	379,003		$	456,029		$	217,653		―			$	1,052,685
Cost of sales		(277,121	)		(342,623	)		(156,051	)	―				(775,795	)
Gross margin		101,882			113,406			61,602		―				276,890
Selling, general and administrative expenses		(49,442	)		(60,134	)		(16,849	)	―				(126,425	)
Income (loss) from unconsolidated joint ventures		(113	)		28			(814	)	―				(899	)
Equity income of subsidiaries		66,073		―			―				(66,073	)	―
Interest income (expense), net		6,959			(5,654	)		(1,305	)	―			―
Other income (expense)		(1,052	)		(253	)		929		―				(376	)
Homebuilding pretax income		124,307			47,393			43,563			(66,073	)		149,190
Financial Services:
Financial services pretax income	―			―				4,271		―				4,271
Income before taxes		124,307			47,393			47,834			(66,073	)		153,461
Provision for income taxes		(29,685	)		(17,544	)		(11,610	)	―				(58,839	)
Net income	$	94,622		$	29,849		$	36,224		$	(66,073	)	$	94,622

	Six Months Ended June 30, 2013
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	370,932		$	343,984		$	81,486		―			$	796,402
Cost of sales		(285,055	)		(267,140	)		(66,919	)	―				(619,114	)
Gross margin		85,877			76,844			14,567		―				177,288
Selling, general and administrative expenses		(43,951	)		(48,676	)		(8,265	)	―				(100,892	)
Income (loss) from unconsolidated joint ventures		1,495			(124	)		(90	)	―				1,281
Equity income of subsidiaries		21,271		―			―				(21,271	)	―
Interest income (expense), net		9,285			(6,691	)		(2,594	)	―			―
Other income (expense)		1,998			(157	)		482		―				2,323
Homebuilding pretax income		75,975			21,196			4,100			(21,271	)		80,000
Financial Services:
Financial services pretax income	―			―				6,537		―				6,537
Income before taxes		75,975			21,196			10,637			(21,271	)		86,537
Provision for income taxes		(11,015	)		(7,960	)		(2,602	)	―				(21,577	)
Net income	$	64,960		$	13,236		$	8,035		$	(21,271	)	$	64,960

Supplemental Condensed Consolidating Balance Sheets [Table Text Block]

	June 30, 2014
	Standard Pacific Corp.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and equivalents	$	26,249		$	792	$	102,695	―			$	129,736
Restricted cash	―			―			31,385	―				31,385
Trade, intercompany and other receivables		1,520,698			8,141		99,348		(1,602,741	)		25,446
Inventories:
Owned		877,471			1,169,260		856,109	―				2,902,840
Not owned		16,600			34,038		39,268	―				89,906
Investments in unconsolidated joint ventures		(1,588	)		219		51,647	―				50,278
Investments in subsidiaries		871,813		―		―			(871,813	)	―
Deferred income taxes, net		339,630		―		―			(5,535	)		334,095
Other assets		35,145			7,724		3,484					46,353
Total Homebuilding Assets		3,686,018			1,220,174		1,183,936		(2,480,089	)		3,610,039
Financial Services:
Cash and equivalents	―			―			17,803	―				17,803
Restricted cash	―			―			1,295	―				1,295
Mortgage loans held for sale, net	―			―			79,343	―				79,343
Mortgage loans held for investment, net	―			―			12,233	―				12,233
Other assets	―			―			9,281		(1,830	)		7,451
Total Financial Services Assets	―			―			119,955		(1,830	)		118,125
Total Assets	$	3,686,018		$	1,220,174	$	1,303,891	$	(2,481,919	)	$	3,728,164
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	15,631		$	11,569	$	14,720	―			$	41,920
Accrued liabilities and intercompany payables		182,384			850,746		687,842		(1,511,113	)		209,859
Secured project debt and other notes payable		85,637		―			5,054		(85,637	)		5,054
Senior notes payable		1,829,783		―		―		―				1,829,783
Total Homebuilding Liabilities		2,113,435			862,315		707,616		(1,596,750	)		2,086,616
Financial Services:
Accounts payable and other liabilities	―			―			15,742		(13,356	)		2,386
Mortgage credit facilities	―			―			66,579	―				66,579
Total Financial Services Liabilities	―			―			82,321		(13,356	)		68,965
Total Liabilities		2,113,435			862,315		789,937		(1,610,106	)		2,155,581
Equity:
Total Stockholders' Equity		1,572,583			357,859		513,954		(871,813	)		1,572,583
Total Liabilities and Equity	$	3,686,018		$	1,220,174	$	1,303,891	$	(2,481,919	)	$	3,728,164

	December 31, 2013
	Standard Pacific Corp.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and equivalents	$	175,289	$	494	$	179,706	―			$	355,489
Restricted cash	―		―			21,460	―				21,460
Trade, intercompany and other receivables		1,278,567		3,565		8,167		(1,275,868	)		14,431
Inventories:
Owned		804,099		1,012,841		719,162	―				2,536,102
Not owned		9,737		41,734		46,870	―				98,341
Investments in unconsolidated joint ventures		586		422		65,046	―				66,054
Investments in subsidiaries		810,340	―		―			(810,340	)	―
Deferred income taxes, net		379,313	―		―			(3,913	)		375,400
Other assets		38,024		5,478		2,475	―				45,977
Total Homebuilding Assets		3,495,955		1,064,534		1,042,886		(2,090,121	)		3,513,254
Financial Services:
Cash and equivalents	―		―			7,802	―				7,802
Restricted cash	―		―			1,295	―				1,295
Mortgage loans held for sale, net	―		―			122,031	―				122,031
Mortgage loans held for investment, net	―		―			12,220	―				12,220
Other assets	―		―			7,490		(1,987	)		5,503
Total Financial Services Assets	―		―			150,838		(1,987	)		148,851
Total Assets	$	3,495,955	$	1,064,534	$	1,193,724	$	(2,092,108	)	$	3,662,105
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	11,685	$	13,442	$	10,644	―			$	35,771
Accrued liabilities and intercompany payables		182,066		723,082		578,995		(1,269,877	)		214,266
Secured project debt and other notes payable	―		―			6,351	―				6,351
Senior notes payable		1,833,244	―		―		―				1,833,244
Total Homebuilding Liabilities		2,026,995		736,524		595,990		(1,269,877	)		2,089,632
Financial Services:
Accounts payable and other liabilities	―		―			14,537		(11,891	)		2,646
Mortgage credit facilities	―		―			100,867	―				100,867
Total Financial Services Liabilities	―		―			115,404		(11,891	)		103,513
Total Liabilities		2,026,995		736,524		711,394		(1,281,768	)		2,193,145
Equity:
Total Stockholders' Equity		1,468,960		328,010		482,330		(810,340	)		1,468,960
Total Liabilities and Equity	$	3,495,955	$	1,064,534	$	1,193,724	$	(2,092,108	)	$	3,662,105

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

	Six Months Ended June 30, 2014
	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	$	40,140		$	(136,481	)	$	(47,171	)	―			$	(143,512	)
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		144			2			(5,823	)	―				(5,677	)
Distributions of capital from unconsolidated homebuilding joint ventures		120			229			14,459		―				14,808
Net cash paid for acqusitions		(35,685	)	―				2,277		―				(33,408	)
Loan to parent	―			―				(85,000	)		85,000		―
Other investing activities		(618	)		(855	)		(14	)	―				(1,487	)
Net cash provided by (used in) investing activities		(36,039	)		(624	)		(74,101	)		85,000			(25,764	)
Cash Flows From Financing Activities:
Change in restricted cash	―			―				(9,925	)	―				(9,925	)
Principal payments on secured project debt and other notes payable	―			―				(1,061	)	―				(1,061	)
Principal payments on senior notes payable		(4,971	)	―			―			―				(4,971	)
Loan from subsidiary		85,000		―			―				(85,000	)	―
Net proceeds from (payments on) mortgage credit facilities	―			―				(34,288	)	―				(34,288	)
(Contributions to) distributions from Corporate and subsidiaries		4,600		―				(4,600	)	―			―
Proceeds from the exercise of stock options		3,769		―			―			―				3,769
Intercompany advances, net		(241,539	)		137,403			104,136		―			―
Net cash provided by (used in) financing activities		(153,141	)		137,403			54,262			(85,000	)		(46,476	)
Net increase (decrease) in cash and equivalents		(149,040	)		298			(67,010	)	―				(215,752	)
Cash and equivalents at beginning of period		175,289			494			187,508		―				363,291
Cash and equivalents at end of period	$	26,249		$	792		$	120,498		―			$	147,539

	Six Months Ended June 30, 2013
	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	$	144,336		$	(126,976	)	$	(166,564	)	―			$	(149,204	)
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		(305	)		(43	)		(10,404	)	―				(10,752	)
Distributions of capital from unconsolidated homebuilding joint ventures	―			―				1,569		―				1,569
Net cash paid for acquisitions		(113,793	)	―			―			―				(113,793	)
Loan to parent	―			―				(135,000	)		135,000		―
Other investing activities		(669	)		(1,511	)		(1,698	)	―				(3,878	)
Net cash provided by (used in) investing activities		(114,767	)		(1,554	)		(145,533	)		135,000			(126,854	)
Cash Flows From Financing Activities:
Change in restricted cash	―			―				2,063		―				2,063
Principal payments on secured project debt and other notes payable		(6,804	)	―				(413	)	―				(7,217	)
Loan from subsidiary		135,000		―			―				(135,000	)	―
Net proceeds from (payments on) mortgage credit facilities	―			―				4,805		―				4,805
(Contributions to) distributions from Corporate and subsidiaries		(3,891	)	―				3,891					―
Payment of issuance costs in connection with preferred shareholder equity transactions		(347	)	―			―			―				(347	)
Proceeds from the exercise of stock options		10,835		―			―			―				10,835
Intercompany advances, net		(275,573	)		128,647			146,926		―			―
Net cash provided by (used in) financing activities		(140,780	)		128,647			157,272			(135,000	)		10,139
Net increase (decrease) in cash and equivalents		(111,211	)		117			(154,825	)	―				(265,919	)
Cash and equivalents at beginning of period		154,722			114			191,719		―				346,555
Cash and equivalents at end of period	$	43,511		$	231		$	36,894		―			$	80,636