Note 6 - Cash and Equivalents and Restricted Cash

6 Months Ended

Jun. 30, 2015

Restricted Cash And Cash Equivalents [Abstract]

Restricted Cash And Cash Equivalents [Text Block]

6. Cash and Equivalents and Restricted Cash

Cash and equivalents include cash on hand, demand deposits and all highly liquid short-term investments, including interest-bearing securities purchased with a maturity of three months or less from the date of purchase. At June 30, 2015, cash and equivalents included $34.6 million of cash from home closings held in escrow for our benefit, typically for less than five days, which are considered deposits in-transit.

At June 30, 2015, restricted cash consisted of $40.8 million of cash held in cash collateral accounts primarily related to certain letters of credit that have been issued and a portion related to our financial services subsidiary mortgage credit facilities ($39.7 million of homebuilding restricted cash and $1.1 million of financial services restricted cash).