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Inventory Impairments and Land Option Cost Write-Offs
6 Months Ended
Mar. 31, 2015
Inventory Impairments and Land Option Cost Write-Offs [Abstract]  
INVENTORY IMPAIRMENTS AND LAND OPTION COST WRITE-OFFS
INVENTORY

At March 31, 2015, the Company reviewed the performance and outlook for all of its land inventories and communities for indicators of potential impairment and performed detailed impairment evaluations and analyses when necessary. The Company performed detailed impairment evaluations of communities and land inventories with a combined carrying value of $424.2 million and recorded impairment charges of $8.1 million during the second quarter to reduce the carrying value of impaired communities to their estimated fair value. The impairment charges were primarily related to a strategic decision to sell a parcel of land in the Southeast region. During the six months ended March 31, 2015, impairment charges totaled $12.0 million. There were $2.3 million of impairment charges recorded in the three and six months ended March 31, 2014.

During the three months ended March 31, 2015 and 2014, the Company wrote off $4.4 million and $2.1 million, respectively, of earnest money deposits and pre-acquisition costs related to land option contracts that are expected to be terminated. During the six months ended March 31, 2015 and 2014, the Company wrote off $6.6 million and $4.8 million, respectively, of these deposits and costs.