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Fair Value Disclosures (Tables)
 9 Months Ended
Sep. 30, 2018
Fair Value Disclosures [Abstract]  
Schedule Of Carrying Values And Estimated Fair Values Of Financial Instruments





 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

September 30, 2018

 

December 31, 2017



 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Hierarchy 

 

Carrying 

 

Fair Value

 

Carrying 

 

Fair Value

Secured notes receivable(1)

 

Level 2

 

$

 4,885 

 

$

 4,885 

 

$

 2,753 

 

$

 2,727 

Mortgage loans held for sale(2)

 

Level 2

 

$

 62,440 

 

$

 62,440 

 

$

 52,327 

 

$

 52,327 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

6.875% senior notes(3)

 

Level 2

 

$

 380,224 

 

$

 385,528 

 

$

 379,238 

 

$

 397,044 

5.875% senior notes (3)

 

Level 2

 

$

 395,238 

 

$

 368,238 

 

$

 394,725 

 

$

 400,225 

3.278% insurance premium notes(4)

 

Level 2

 

$

 9,673 

 

$

 9,673 

 

$

 —

 

$

 —

Revolving line of credit(4)

 

Level 3

 

$

 236,000 

 

$

 236,000 

 

$

 —

 

$

 —

Other financing obligation(4)

 

Level 2

 

$

 2,320 

 

$

 2,320 

 

$

 2,320 

 

$

 2,320 

Mortgage repurchase facilities(4)

 

Level 2

 

$

 57,327 

 

$

 57,327 

 

$

 48,319 

 

$

 48,319 



(1)

Estimated fair value of the secured notes receivable was based on cash flow models discounted at market interest rates that considered the underlying risks of the note.

(2)

The mortgage loans held for sale are carried at fair value, which was based on quoted market prices for those committed mortgage loans.

(3)

Estimated fair value of the senior notes incorporated recent trading activity in inactive markets.

(4)

Carrying amount approximates fair value due to short-term nature and interest rate terms.