XML 32 R42.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 2 - Summary of Significant Accounting Policies (Details) - Interest Capitalized (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Interest Capitalized [Abstract]      
Total interest incurred (1) $ 153,695us-gaap_InterestCostsIncurred [1] $ 140,865us-gaap_InterestCostsIncurred [1] $ 141,827us-gaap_InterestCostsIncurred [1]
Less: Interest capitalized to inventories owned (151,962)us-gaap_InterestCostsCapitalized (137,990)us-gaap_InterestCostsCapitalized (129,136)us-gaap_InterestCostsCapitalized
Less: Interest capitalized to investments in unconsolidated joint ventures (1,733)spf_InterestCapitalizedToInvestmentsInUnconsolidatedJointVentures (2,875)spf_InterestCapitalizedToInvestmentsInUnconsolidatedJointVentures (6,295)spf_InterestCapitalizedToInvestmentsInUnconsolidatedJointVentures
Interest expense     6,396us-gaap_InterestExpense
Interest previously capitalized to inventories owned, included in home cost of home sales 119,422us-gaap_RealEstateInventoryCapitalizedInterestCostsCostOfSales 120,714us-gaap_RealEstateInventoryCapitalizedInterestCostsCostOfSales 100,683us-gaap_RealEstateInventoryCapitalizedInterestCostsCostOfSales
Interest previously capitalized to inventories owned, included in land cost of land sales 3,690us-gaap_CostOfRealEstateSalesInterest 1,064us-gaap_CostOfRealEstateSalesInterest 3,219us-gaap_CostOfRealEstateSalesInterest
Interest previously capitalized to investments in unconsolidated joint ventures, included in income (loss) from unconsolidated joint ventures 30spf_InterestPreviouslyCapitalizedToInvestmentsInUnconsolidatedJointVentures 441spf_InterestPreviouslyCapitalizedToInvestmentsInUnconsolidatedJointVentures 843spf_InterestPreviouslyCapitalizedToInvestmentsInUnconsolidatedJointVentures
Interest capitalized in ending inventories owned (2) 275,607us-gaap_RealEstateInventoryCapitalizedInterestCosts [2] 240,734us-gaap_RealEstateInventoryCapitalizedInterestCosts [2] 221,402us-gaap_RealEstateInventoryCapitalizedInterestCosts [2]
Interest capitalized as a percentage of inventories owned 8.50%spf_InterestCapitalizedAsAPercentageOfInventoriesOwned 9.50%spf_InterestCapitalizedAsAPercentageOfInventoriesOwned 11.20%spf_InterestCapitalizedAsAPercentageOfInventoriesOwned
Interest capitalized in ending investments in unconsolidated joint ventures (2) $ 665spf_InterestCapitalizedInEndingInvestmentsInUnconsolidatedJointVentures [2] $ 4,985spf_InterestCapitalizedInEndingInvestmentsInUnconsolidatedJointVentures [2] $ 6,921spf_InterestCapitalizedInEndingInvestmentsInUnconsolidatedJointVentures [2]
Interest capitalized as a percentage of investments in unconsolidated joint ventures 1.30%spf_InterestCapitalizedAsAPercentageOfInvestmentsInUnconsolidatedJointVentures 7.50%spf_InterestCapitalizedAsAPercentageOfInvestmentsInUnconsolidatedJointVentures 13.20%spf_InterestCapitalizedAsAPercentageOfInvestmentsInUnconsolidatedJointVentures
[1] For the years ended December 31, 2013 and 2012, interest incurred included the noncash amortization of $3.6 million and $10.4 million, respectively, of interest related to the Term Loan B swap that was unwound in the 2010 fourth quarter (please see Note 2.s. "Derivative Instruments and Hedging Activities").
[2] During the years ended December 31, 2014, 2013 and 2012, in connection with lot purchases from our joint ventures, $6.0 million, $4.4 million and $7.6 million, respectively, of capitalized interest was transferred from investments in unconsolidated joint ventures to inventories owned. In addition, during the year ended December 31, 2013, approximately $0.8 million of capitalized interest was included in other income (expense) in connection with the abandonment of a project.