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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash Flows From Operating Activities:    
Net income (loss) $ (25,316) $ 5,590
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Loss from unconsolidated joint ventures 636 660
Cash distributions of income from unconsolidated joint ventures 20  
Depreciation and amortization 1,902 1,400
(Gain) loss on disposal of property and equipment   (36)
Loss on early extinguishment of debt   5,190
Amortization of stock-based compensation 5,459 5,483
Excess tax benefits from share-based payment arrangements   (27)
Inventory impairment charges 5,959  
Changes in cash and equivalents due to:    
Trade and other receivables (11,493) (1,562)
Mortgage loans held for sale (4,770) (25,775)
Inventories - owned (194,058) (37,111)
Inventories - not owned (12,800) (17,550)
Other assets 2,028 109,442
Accounts payable (138) 2,578
Accrued liabilities 458 (9,363)
Net cash provided by (used in) operating activities (232,113) 38,919
Cash Flows From Investing Activities:    
Investments in unconsolidated homebuilding joint ventures (8,820) (2,282)
Distributions from unconsolidated homebuilding joint ventures 49 23
Other investing activities (753) (200)
Net cash provided by (used in) investing activities (9,524) (2,459)
Cash Flows From Financing Activities:    
Change in restricted cash (5,576) 378
Net proceeds from (principal payments on) secured project debt and other notes payable (523) (59,247)
Principal payments on senior notes payable   (189,959)
Proceeds from the issuance of senior notes payable   300,000
Payment of debt issuance costs (4,575) (5,506)
Net proceeds from (payments on) mortgage credit facilities 4,529 24,131
Excess tax benefits from share-based payment arrangements   27
Payment of common stock issuance costs (324)  
Proceeds from the exercise of stock options 410 2,341
Net cash provided by (used in) financing activities (6,059) 72,165
Net increase (decrease) in cash and equivalents (247,696) 108,625
Cash and equivalents at beginning of period 731,371 595,559
Cash and equivalents at end of period 483,675 704,184
Homebuilding restricted cash at end of period 33,814 13,792
Financial services restricted cash at end of period 2,870 4,095
Cash and equivalents and restricted cash at end of period $ 520,359 $ 722,071