Note 21 - Supplemental Guarantor Information (Tables)

6 Months Ended

Jun. 30, 2015

Supplemental Guarantor Information [Abstract]

Supplemental Condensed Consolidating Statements of Operations [Table Text Block]

	Three Months Ended June 30, 2015
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	191,188		$	324,365		$	184,079			-		$	699,632
Cost of sales		(144,796	)		(248,896	)		(133,999	)		-			(527,691	)
Gross margin		46,392			75,469			50,080			-			171,941
Selling, general and administrative expenses		(24,393	)		(40,524	)		(14,993	)		-			(79,910	)
Income (loss) from unconsolidated joint ventures		(4	)		-			(47	)		-			(51	)
Equity income of subsidiaries		50,169			-			-			(50,169	)		-
Interest income (expense), net		3,175			(2,465	)		(710	)		-			-
Other income (expense		(6,440	)		(75	)		1,239			-			(5,276	)
Homebuilding pretax income		68,899			32,405			35,569			(50,169	)		86,704
Financial Services:
Financial services pretax income		-			-			2,818			-			2,818
Income before taxes		68,899			32,405			38,387			(50,169	)		89,522
Provision for income taxes		(11,701	)		(13,247	)		(7,376	)		-			(32,324	)
Net income	$	57,198		$	19,158		$	31,011		$	(50,169	)	$	57,198

	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

	Six Months Ended June 30, 2015
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	328,080		$	544,093		$	297,737			-		$	1,169,910
Cost of sales		(248,154	)		(419,853	)		(215,857	)		-			(883,864	)
Gross margin		79,926			124,240			81,880			-			286,046
Selling, general and administrative expenses		(47,539	)		(73,274	)		(25,167	)		-			(145,980	)
Income (loss) from unconsolidated joint ventures		22			-			(524	)		-			(502	)
Equity income of subsidiaries		73,536			-			-			(73,536	)		-
Interest income (expense), net		6,398			(5,209	)		(1,189	)		-			-
Other income (expense		(7,441	)		(223	)		2,092			-			(5,572	)
Homebuilding pretax income		104,902			45,534			57,092			(73,536	)		133,992
Financial Services:
Financial services pretax income		-			-			4,026			-			4,026
Income before taxes		104,902			45,534			61,118			(73,536	)		138,018
Provision for income taxes		(16,099	)		(20,571	)		(12,545	)		-			(49,215	)
Net income	$	88,803		$	24,963		$	48,573		$	(73,536	)	$	88,803

	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

Supplemental Condensed Consolidating Balance Sheets [Table Text Block]

	June 30, 2015
	Standard Pacific Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and equivalents	$	28,782		$	20,626		$	27,680		-		$	77,088
Restricted cash		-			-			39,714		-			39,714
Intercompany receivables		1,795,110			-			181,691		(1,976,801	)		-
Inventories:
Owned		1,156,145			1,294,269			1,174,084		-			3,624,498
Not owned		16,691			20,478			8,602		-			45,771
Investments in unconsolidated joint ventures		(1,632	)		(69	)		62,536		-			60,835
Investments in subsidiaries		1,023,496			-			-		(1,023,496	)	-
Deferred income taxes, net		274,642			-			-		(8,551	)		266,091
Other assets		39,550			10,649			4,225	-				54,424
Total Homebuilding Assets		4,332,784			1,345,953			1,498,532		(3,008,848	)		4,168,421
Financial Services:
Cash and equivalents		-			-			11,225		-			11,225
Restricted cash		-			-			1,045		-			1,045
Mortgage loans held for sale, net		-			-			109,239		-			109,239
Mortgage loans held for investment, net		-			-			23,366		-			23,366
Other assets		-			-			8,246		(1,650	)		6,596
Total Financial Services Assets		-			-			153,121		(1,650	)		151,471
Total Assets	$	4,332,784		$	1,345,953		$	1,651,653	$	(3,010,498	)	$	4,319,892
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	24,049		$	25,141		$	30,529		-		$	79,719
Accrued liabilities and intercompany payables		213,627			917,572			887,502		(1,793,079	)		225,622
Revolving credit facility		30,000			-			-		-			30,000
Secured project debt, other notes payable and intercompany loans		179,454			-			4,203		(177,730	)		5,927
Senior notes payable		2,133,111			-			-		-			2,133,111
Total Homebuilding Liabilities		2,580,241			942,713			922,234		(1,970,809	)		2,474,379
Financial Services:
Accounts payable and other liabilities		-			-			18,822		(16,193	)		2,629
Mortgage credit facilities		-			-			90,341		-			90,341
Total Financial Services Liabilities		-			-			109,163		(16,193	)		92,970
Total Liabilities		2,580,241			942,713			1,031,397		(1,987,002	)		2,567,349
Equity:
Total Stockholders' Equity		1,752,543			403,240			620,256		(1,023,496	)		1,752,543
Total Liabilities and Equity	$	4,332,784		$	1,345,953		$	1,651,653	$	(3,010,498	)	$	4,319,892

	December 31, 2014
	Standard Pacific Corp.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and equivalents	$	133,304		$	1,061	$	46,063	$	-		$	180,428
Restricted cash		-			-		38,222		-			38,222
Intercompany receivables		1,637,226			-		184,772		(1,821,998	)		-
Inventories:
Owned		1,059,197			1,234,233		961,774		-			3,255,204
Not owned		17,360			28,520		39,273		-			85,153
Investments in unconsolidated joint ventures		(1,653	)		497		51,267		-			50,111
Investments in subsidiaries		957,933			-		-		(957,933	)		-
Deferred income taxes, net		283,890			-		-		(7,488	)		276,402
Other assets		42,224			11,234		8,139	―				61,597
Total Homebuilding Assets		4,129,481			1,275,545		1,329,510		(2,787,419	)		3,947,117
Financial Services:
Cash and equivalents		-			-		31,965		-			31,965
Restricted cash		-			-		1,295		-			1,295
Mortgage loans held for sale, net		-			-		174,420		-			174,420
Mortgage loans held for investment, net		-			-		14,380		-			14,380
Other assets		-			-		6,980		(1,737	)		5,243
Total Financial Services Assets		-			-		229,040		(1,737	)		227,303
Total Assets	$	4,129,481		$	1,275,545	$	1,558,550	$	(2,789,156	)	$	4,174,420
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	13,856		$	16,202	$	15,027	$	-		$	45,085
Accrued liabilities and intercompany payables		206,731			868,922		783,324		(1,635,194	)		223,783
Secured project debt, other notes payable and intercompany loans		100,813			-		4,689		(100,813	)		4,689
Senior notes payable		2,131,393			-		-		-			2,131,393
Total Homebuilding Liabilities		2,452,793			885,124		803,040		(1,736,007	)		2,404,950
Financial Services:
Accounts payable and other liabilities		-			-		18,585		(15,216	)		3,369
Mortgage credit facilities		-			-		169,413		(80,000	)		89,413
Total Financial Services Liabilities		-			-		187,998		(95,216	)		92,782
Total Liabilities		2,452,793			885,124		991,038		(1,831,223	)		2,497,732
Equity:
Total Stockholders' Equity		1,676,688			390,421		567,512		(957,933	)		1,676,688
Total Liabilities and Equity	$	4,129,481		$	1,275,545	$	1,558,550	$	(2,789,156	)	$	4,174,420

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

	Six Months Ended June 30, 2015
	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	$	(39,876	)	$	(21,756	)	$	(49,565	)	$	-		$	(111,197	)
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		-			-			(20,778	)		-			(20,778	)
Distributions of capital from unconsolidated homebuilding joint ventures		-			-			8,760			-			8,760
Loan to parent and subsidiaries		-			-			5,000			(5,000	)		-
Other investing activities		(1,670	)		(1,278	)		(9,074	)		-			(12,022	)
Net cash provided by (used in) investing activities		(1,670	)		(1,278	)		(16,092	)		(5,000	)		(24,040	)
Cash Flows From Financing Activities:
Change in restricted cash		-			-			(1,242	)		-			(1,242	)
Borrowings from revolving credit facility		158,900			-			-			-			158,900
Principal payments on revolving credit facility		(128,900	)		-			-			-			(128,900	)
Principal payments on secured project debt and other notes payable		-			-			(497	)		-			(497	)
Loan from subsidiary		75,000			-		-				(75,000	)	-
Net proceeds from (payments on) mortgage credit facilities		-			-			(79,072	)		80,000			928
(Contributions to) distributions from Corporate and subsidiaries		7,973			(12,144	)		4,171			-			-
Repurchase of common stock		(22,073	)		-			-			-			(22,073	)
Issuance of common stock under employee stock plans, net of tax withholdings		(2,322	)		-			-			-			(2,322	)
Excess tax benefits from share-based payment arrangements		6,363			-			-			-			6,363
Intercompany advances, net		(157,917	)		54,743			103,174			-			-
Net cash provided by (used in) financing activities		(62,976	)		42,599			26,534			5,000			11,157
Net increase (decrease) in cash and equivalents		(104,522	)		19,565			(39,123	)		-			(124,080	)
Cash and equivalents at beginning of period		133,304			1,061			78,028			-			212,393
Cash and equivalents at end of period	$	28,782		$	20,626		$	38,905		$	-		$	88,313

	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 acquisitions		(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	)		-			-
Issuance of common stock under employee stock plans, net of tax withholdings		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