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QUARTERLY FINANCIAL DATA (UNAUDITED)
 12 Months Ended
Dec. 31, 2012
QUARTERLY FINANCIAL DATA (UNAUDITED) [Abstract]  
QUARTERLY FINANCIAL DATA (UNAUDITED)
NOTE R - QUARTERLY FINANCIAL DATA (UNAUDITED)
 
Summarized quarterly financial data for 2012 and 2011 is as follows:
 
 
 
2012 Quarter
 
 
 
First
 
 
Second
 
 
Third
 
 
Fourth
 
Net revenues
 
$
26,710
   
$
18,966
   
$
28,652
   
$
33,159
 
Expenses
 
 
33,597
     
30,354
     
40,164
     
91,314
 
Equity earnings (losses) from unconsolidated entities
 
 
(36)
     
(43)
     
(38)
     
376
 
 
 
 
                           
Loss before income taxes
 
 
(6,923)
     
(11,431)
     
(11,550)
     
(57,779)
 
Less: Net loss attributable to non-controlling interests
 
 
1,528
     
(86)
     
33
     
1,077
 
 
 
 
                           
Net loss attributable to AV Homes
 
$
(8,451)
   
$
(11,345)
   
$
(11,583)
   
$
(58,856)
 
Loss per share:
 
 
                           
Basic and Diluted
 
$
(0.68)
   
$
(0.91)
   
$
(0.92)
   
$
(4.67)
 

 
 
2011 Quarter
 
 
 
First
 
 
Second
 
 
Third
 
 
Fourth
 
Net revenues
 
$
12,212
 
 
$
28,366
 
 
$
14,703
 
 
$
33,701
 
Expenses
 
 
22,308
 
 
 
45,163
 
 
 
135,705
 
 
 
51,112
 
Equity earnings (losses) from unconsolidated entities
 
 
(128
)
 
 
143
 
 
 
(341
)
 
 
(72
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loss before income taxes
 
 
(10,224
)
 
 
(16,654
)
 
 
(121,343
)
 
 
(17,483
)
Less: Net income (loss) attributable to non-controlling interests
 
 
127
 
 
 
128
 
 
 
132
 
 
 
(91
)
Income tax expense
 
 
-
 
 
 
-
 
 
 
(350
)
 
 
(123
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss attributable to AV Homes stockholders
 
$
(10,097
)
 
$
(16,526
)
 
$
(121,561
)
 
$
(17,697
)
Loss per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic and Diluted
 
$
(0.81
)
 
$
(1.33
)
 
$
(9.76
)
 
$
(1.42
)

 
1.
Quarterly and year-to-date computations of per share amounts are made independently. Therefore, the sum of per share amounts for the quarters may not agree with the per share amounts for the year.
 
2.
During the first quarter of 2012, our impairment evaluation resulted in total impairment charges of $3,428 which included $581 in impairment charges for homes completed or under construction and $2,847 in impairment charges for land developed and/or held for future development.
 
3.
During the second quarter of 2012, our impairment evaluation resulted in total impairment charges of $152 which related to impairment charges for homes completed or under construction.
 
4.
During the third quarter of 2012, our impairment evaluation resulted in total impairment charges of $3,784, which included $807 in impairment charges for homes completed or under construction and $2,977 in impairment charges for land developed and/or held for future development.
 
5.
During the fourth quarter of 2012, our impairment evaluation resulted in total impairment charges of $51,679 which included $95 in impairment charges for homes completed or under construction, $43,925 in impairment charges for land developed and/or held for future development, and $7,659 in impairment charges related to the Poinciana Parkway.