Note 21 - Supplemental Guarantor Information (Tables)

9 Months Ended

Sep. 30, 2014

Supplemental Guarantor Information [Abstract]

Condensed Income Statement [Table Text Block]

	Three Months Ended September 30, 2014
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	197,617		$	246,839		$	160,393		―			$	604,849
Cost of sales		(145,278	)		(188,601	)		(111,910	)	―				(445,789	)
Gross margin		52,339			58,238			48,483		―				159,060
Selling, general and administrative expenses		(24,974	)		(32,465	)		(12,725	)	―				(70,164	)
Income from unconsolidated joint ventures		64			142			351		―				557
Equity income of subsidiaries		41,821		―			―				(41,821	)	―
Interest income (expense), net		3,204			(2,875	)		(329	)	―			―
Other income (expense)		(1,128	)		(45	)		1,104		―				(69	)
Homebuilding pretax income		71,326			22,995			36,884			(41,821	)		89,384
Financial Services:
Financial services pretax income	―			―				2,737		―				2,737
Income before taxes		71,326			22,995			39,621			(41,821	)		92,121
Provision for income taxes		(14,727	)		(10,169	)		(10,626	)	―				(35,522	)
Net income	$	56,599		$	12,826		$	28,995		$	(41,821	)	$	56,599

	Three Months Ended September 30, 2013
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	228,520		$	212,707		$	70,529		―			$	511,756
Cost of sales		(165,466	)		(162,589	)		(54,311	)	―				(382,366	)
Gross margin		63,054			50,118			16,218		―				129,390
Selling, general and administrative expenses		(25,799	)		(29,095	)		(7,045	)	―				(61,939	)
Income (loss) from unconsolidated joint ventures		165			(111	)		(86	)	―				(32	)
Equity income of subsidiaries		22,421		―			―				(22,421	)	―
Interest income (expense), net		3,827			(2,732	)		(1,095	)	―			―
Other income (expense)		(495	)		144			652		―				301
Homebuilding pretax income		63,173			18,324			8,644			(22,421	)		67,720
Financial Services:
Financial services pretax income	―			―				2,416		―				2,416
Income before taxes		63,173			18,324			11,060			(22,421	)		70,136
Provision for income taxes		(4,238	)		(5,913	)		(1,050	)	―				(11,201	)
Net income	$	58,935		$	12,411		$	10,010		$	(22,421	)	$	58,935

	Nine Months Ended September 30, 2014
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	576,620		$	702,868		$	378,046		―			$	1,657,534
Cost of sales		(422,399	)		(531,224	)		(267,961	)	―				(1,221,584	)
Gross margin		154,221			171,644			110,085		―				435,950
Selling, general and administrative expenses		(74,416	)		(92,599	)		(29,574	)	―				(196,589	)
Income (loss) from unconsolidated joint ventures		(49	)		170			(463	)	―				(342	)
Equity income of subsidiaries		107,894		―			―				(107,894	)	―
Interest income (expense), net		10,163			(8,529	)		(1,634	)	―			―
Other income (expense)		(2,180	)		(298	)		2,033		―				(445	)
Homebuilding pretax income		195,633			70,388			80,447			(107,894	)		238,574
Financial Services:
Financial services pretax income	―			―				7,008		―				7,008
Income before taxes		195,633			70,388			87,455			(107,894	)		245,582
Provision for income taxes		(44,412	)		(27,713	)		(22,236	)	―				(94,361	)
Net income	$	151,221		$	42,675		$	65,219		$	(107,894	)	$	151,221

	Nine Months Ended September 30, 2013
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	599,452		$	556,691		$	152,015		―			$	1,308,158
Cost of sales		(450,521	)		(429,729	)		(121,230	)	―				(1,001,480	)
Gross margin		148,931			126,962			30,785		―				306,678
Selling, general and administrative expenses		(69,750	)		(77,771	)		(15,310	)	―				(162,831	)
Income (loss) from unconsolidated joint ventures		1,660			(235	)		(176	)	―				1,249
Equity income of subsidiaries		43,692		―			―				(43,692	)	―
Interest income (expense), net		13,112			(9,423	)		(3,689	)	―			―
Other income (expense)		1,503			(13	)		1,134		―				2,624
Homebuilding pretax income		139,148			39,520			12,744			(43,692	)		147,720
Financial Services:
Financial services pretax income	―			―				8,953		―				8,953
Income before taxes		139,148			39,520			21,697			(43,692	)		156,673
Provision for income taxes		(15,253	)		(13,873	)		(3,652	)	―				(32,778	)
Net income	$	123,895		$	25,647		$	18,045		$	(43,692	)	$	123,895

Condensed Balance Sheet [Table Text Block]

	September 30, 2014
	Standard Pacific Corp.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and equivalents	$	737		$	850	$	28,267	$	(14,559	)	$	15,295
Restricted cash	―			―			37,027	―				37,027
Trade, intercompany and other receivables		1,628,363			8,719		186,615		(1,792,787	)		30,910
Inventories:
Owned		980,374			1,233,479		931,516	―				3,145,369
Not owned		15,658			32,272		38,861	―				86,791
Investments in unconsolidated joint ventures		(1,631	)		361		49,192	―				47,922
Investments in subsidiaries		914,584		―		―			(914,584	)	―
Deferred income taxes, net		292,027		―		―			(6,487	)		285,540
Other assets		34,252			7,299		3,426	―				44,977
Total Homebuilding Assets		3,864,364			1,282,980		1,274,904		(2,728,417	)		3,693,831
Financial Services:
Cash and equivalents	―			―			10,373	―				10,373
Restricted cash	―			―			1,295	―				1,295
Mortgage loans held for sale, net	―			―			68,746	―				68,746
Mortgage loans held for investment, net	―			―			11,730	―				11,730
Other assets	―			―			28,991		(21,896	)		7,095
Total Financial Services Assets	―			―			121,135		(21,896	)		99,239
Total Assets	$	3,864,364		$	1,282,980	$	1,396,039	$	(2,750,313	)	$	3,793,070
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	16,286		$	24,173	$	10,838	―			$	51,297
Accrued liabilities and intercompany payables		191,163			888,122		755,064		(1,629,671	)		204,678
Secured project debt and other notes payable		191,685		―			4,748		(191,685	)		4,748
Senior notes payable		1,830,566		―		―		―				1,830,566
Total Homebuilding Liabilities		2,229,700			912,295		770,650		(1,821,356	)		2,091,289
Financial Services:
Accounts payable and other liabilities	―			―			16,792		(14,373	)		2,419
Mortgage credit facilities	―			―			64,698	―				64,698
Total Financial Services Liabilities	―			―			81,490		(14,373	)		67,117
Total Liabilities		2,229,700			912,295		852,140		(1,835,729	)		2,158,406
Equity:
Total Stockholders' Equity		1,634,664			370,685		543,899		(914,584	)		1,634,664
Total Liabilities and Equity	$	3,864,364		$	1,282,980	$	1,396,039	$	(2,750,313	)	$	3,793,070

	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

Condensed Cash Flow Statement [Table Text Block]

	Nine Months Ended September 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	$	14,398		$	(174,601	)	$	(83,784	)	$	(14,559	)	$	(258,546	)
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		144			2			(8,094	)	―				(7,948	)
Distributions of capital from unconsolidated homebuilding joint ventures		227			229			17,554		―				18,010
Net cash paid for acquisitions		(35,685	)	―				2,277		―				(33,408	)
Loan to parent	―			―				(190,000	)		190,000		―
Other investing activities		(1,367	)		(1,108	)		491		―				(1,984	)
Net cash provided by (used in) investing activities		(36,681	)		(877	)		(177,772	)		190,000			(25,330	)
Cash Flows From Financing Activities:
Change in restricted cash	―			―				(15,567	)	―				(15,567	)
Principal payments on secured project debt and other notes payable	―			―				(1,399	)	―				(1,399	)
Principal payments on senior notes payable		(4,971	)	―			―			―				(4,971	)
Payment of debt issuance costs		(2,387	)										(2,387		)
Loan from subsidiary		190,000		―			―				(190,000	)	―
Net proceeds from (payments on) mortgage credit facilities	―			―				(36,169	)	―				(36,169	)
(Contributions to) distributions from Corporate and subsidiaries		3,650		―				(3,650	)	―			―
Proceeds from the exercise of stock options		5,786		―			―			―				5,786
Excess tax benefits from share-based payment arrangements		960		―			―			―				960
Intercompany advances, net		(345,307	)		175,834			169,473		―			―
Net cash provided by (used in) financing activities		(152,269	)		175,834			112,688			(190,000	)		(53,747	)
Net increase (decrease) in cash and equivalents		(174,552	)		356			(148,868	)		(14,559	)		(337,623	)
Cash and equivalents at beginning of period		175,289			494			187,508		―				363,291
Cash and equivalents at end of period	$	737		$	850		$	38,640		$	(14,559	)	$	25,668

	Nine Months Ended September 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	$	247,524		$	(180,993	)	$	(192,927	)	―	$	(126,396	)
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		(393	)		(49	)		(12,500	)	―		(12,942	)
Distributions of capital from unconsolidated homebuilding joint ventures	―				100			2,219		―		2,319
Net cash paid for acquisitions		(113,793	)	―			―			―		(113,793	)
Other investing activities		(931	)		(2,824	)		(979	)	―		(4,734	)
Net cash provided by (used in) investing activities		(115,117	)		(2,773	)		(11,260	)	―		(129,150	)
Cash Flows From Financing Activities:
Change in restricted cash	―			―				1		―		1
Principal payments on secured project debt and other notes payable		(6,804	)	―				(485	)	―		(7,289	)
Proceeds from the issuance of senior notes payable		300,000		―			―			―		300,000
Payment of debt issuance costs		(4,045	)	―			―			―		(4,045	)
Net proceeds from (payments on) mortgage credit facilities	―			―				(27,979	)	―		(27,979	)
(Contributions to) distributions from Corporate and subsidiaries		(6,891	)	―				6,891		―	―
Payment of common stock issuance costs		(350	)	―			―			―		(350	)
Proceeds from the exercise of stock options		11,781		―			―			―		11,781
Intercompany advances, net		(378,550	)		184,017			194,533		―	―
Net cash provided by (used in) financing activities		(84,859	)		184,017			172,961		―		272,119
Net increase (decrease) in cash and equivalents		47,548			251			(31,226	)	―		16,573
Cash and equivalents at beginning of period		154,722			114			191,719		―		346,555
Cash and equivalents at end of period	$	202,270		$	365		$	160,493		―	$	363,128