Acquisition of Polygon Northwest Homes (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Reconciliation of Consideration Transferred as of Acquisition Date

A reconciliation of the consideration transferred as of the acquisition date is as follows:



Purchase consideration	$	552,252
Net proceeds received from Polygon inventory involved in land banking transactions	(59,834		)
	$	492,418

Summary of Preliminary Amounts of Acquired Assets and Liabilities Recorded at Fair Value

The following table summarizes the amounts for acquired assets and liabilities recorded at their fair values as of the acquisition date (in thousands):



Assets Acquired
	Real estate inventories	$	435,054
	Goodwill	52,693
	Intangible asset - brand name	6,700
	Joint venture in mortgage business	2,000
	Other	545
	Total Assets	$	496,992

Liabilities Assumed
	Accounts payable	$	603
	Accrued expenses	3,971
	Total liabilities	4,574
	Net assets acquired	$	492,418

Summary of Unaudited Pro Forma Amounts

The following table presents unaudited pro forma amounts for the years ended December 31, 2014 and 2013 as if the Polygon Acquisition had been completed as of January 1, 2013 (amounts in thousands, except per share data):



	Year Ended December 31, 2014		Year Ended December 31, 2013
Operating revenues	$	1,048.6	$	864.4
Net income available to common stockholders	$	53.4	$	141.1
Income per share - basic	$	1.68	$	5.70
Income per share - diluted	$	1.61	$	5.47