Cash and Cash Equivalents

3 Months Ended

Mar. 31, 2013

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents

Note B -Cash and Cash Equivalents

We consider all highly liquid investments purchased with an initial maturity of three months or less to be cash equivalents. As of March 31, 2013, our cash and cash equivalents were invested primarily in money market accounts that invest in U.S. government securities. Due to the short maturity period of the cash equivalents, the carrying amount of these instruments approximates their fair values.

Our cash items that are restricted as to withdrawal or usage include deposits of $4,727 and $4,682 as of March 31, 2013 and December 31, 2012, respectively. The balance as of March 31, 2013 is comprised primarily of $3,615 on deposit with Citibank to collateralize letters of credit outstanding, $477 in land escrow accounts and $584 of housing deposits from customers that will become available when the housing contracts close.