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Discontinued Operations
 3 Months Ended
Dec. 31, 2012
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
We continually review each of our markets in order to refine our overall investment strategy and to optimize capital and resource allocations in an effort to enhance our financial position and to increase shareholder value. This review entails an evaluation of both external market factors and our position in each market and over time has resulted in the decision to discontinue certain of our homebuilding operations.
We have classified the results of operations of our discontinued operations in the accompanying unaudited condensed consolidated statements of operations for all periods presented. There were no material assets or liabilities related to our discontinued operations as of December 31, 2012 or September 30, 2012. Discontinued operations were not segregated in the unaudited condensed consolidated statements of cash flows. Therefore, amounts for certain captions in the unaudited condensed consolidated statements of cash flows will not agree with the respective data in the unaudited condensed consolidated statements of operations. The results of our discontinued operations in the unaudited condensed Consolidated Statements of Operations for the three months ended December 31, 2012 and 2011 were as follows:

 
Three Months Ended
 
December 31,
(In thousands)
2012
 
2011
Total revenue
$
96

 
$
3,196

Home construction and land sales expenses
94

 
2,788

Inventory impairments and lot option abandonments
17

 
32

Gross (loss) profit
(15
)
 
376

Commissions
—

 
158

General and administrative expenses (a)
1,525

 
517

Depreciation and amortization
—

 
21

Operating loss
(1,540
)
 
(320
)
Equity in loss of unconsolidated entities
—

 
(29
)
Other income (loss), net
69

 
(9
)
Loss from discontinued operations before income taxes
(1,471
)
 
(358
)
Benefit from income taxes
(22
)
 
(399
)
(Loss) income from discontinued operations, net of tax
$
(1,449
)
 
$
41


(a)
The three months ended December 31, 2012, includes approximately $1.5 million of expense for legal fees and potential liability related to outstanding matters in Denver, Colorado.