Variable Interest Entities and Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2012

Total Risk Related to Lot Options

NVR’s total risk of loss related to contract land deposits as of December 31, 2012 and 2011 was as follows:

	December 31, 2012			December 31, 2011
Contract land deposits	$	256,577		$	202,263
Loss reserve on contract land deposits		(65,039	)		(70,333	)
Contract land deposits, net		191,538			131,930
Contingent obligations in the form of letters of credit		3,338			3,228
Contingent specific performance obligations (1)		7,047			8,526
Total risk of loss	$	201,923		$	143,684

(1) At December 31, 2012 and 2011, the Company was committed to purchase 71 and 92 finished lots under specific performance obligations, respectively.

Condensed Balance Sheets of Consolidated JV

The condensed balance sheets at December 31, 2012 and 2011 of the consolidated JV were as follows:

	December 31, 2012		December 31, 2011
Cash	$	906	$	462
Restricted cash		505		503
Other assets		833		125
Land under development		13,382		19,092
Total assets	$	15,626	$	20,182
Debt	$	4,574	$	4,983
Accrued expenses		935		108
Equity		10,117		15,091
Total liabilities and equity	$	15,626	$	20,182