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Inventory Impairments and Land Option Cost Write-Offs
3 Months Ended
Mar. 31, 2013
Inventory Impairments and Land Option Cost Write-Offs [Abstract]  
INVENTORY IMPAIRMENTS AND LAND OPTION COST WRITE-OFFS
INVENTORY IMPAIRMENTS AND LAND OPTION COST WRITE-OFFS

At March 31, 2013, the Company reviewed the performance and outlook for all of its land inventory and communities for indicators of potential impairment and performed impairment evaluations and analyses when necessary. The Company performed impairment evaluations of communities with a combined carrying value of $181.0 million and determined that no communities were impaired. Accordingly, no impairment charges were recorded during the three months ended March 31, 2013. During the same period of 2012, the Company recorded impairment charges of $0.3 million to reduce the carrying value of impaired communities in its East and Southeast homebuilding reporting segments to their estimated fair value. There were no impairment charges recorded during the six months ended March 31, 2013, compared to $0.8 million recorded in the same period of 2012.

During the three months ended March 31, 2013 and 2012, the Company wrote off $1.8 million and $0.5 million, respectively, of earnest money deposits and land option costs related to land option contracts which are not expected to be acquired. During the six months ended March 31, 2013 and 2012, the Company wrote off $3.2 million and $1.4 million, respectively, of these deposits and costs.

At March 31, 2013 and September 30, 2012, the Company had $23.9 million and $32.6 million, respectively, of land held for sale, consisting of land held for development and land under development that met the criteria of land held for sale.