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Restricted Cash
6 Months Ended
Jun. 30, 2012
Restricted Cash

3. Restricted Cash

Restricted cash related to homebuilding operations included cash used as collateral for potential obligations paid by the Company’s bank, customer deposits temporarily restricted in accordance with regulatory requirements, and cash used in lieu of bonds. At June 30, 2012 and December 31, 2011, restricted cash related to homebuilding operations was $13.5 million and $13.3 million, respectively.

Restricted cash of PIC included cash held in escrow by PIC’s claim administrators. At June 30, 2012 and December 31, 2011, restricted cash of PIC was $0.4 million and $0.4 million, respectively.