Estimated Development Liability for Sold Land

12 Months Ended

Dec. 31, 2013

Estimated Development Liability for Sold Land [Abstract]

Estimated Development Liability for Sold Land

Estimated Development Liability for Sold Land

The estimated development liability consists primarily of utilities improvements in Poinciana and Rio Rico for more than 8,000 home sites previously sold, in most cases prior to 1980, and is summarized as follows: 

	December 31
	2013			2012
Gross estimated unexpended costs	$	36,117		$	35,879
Less costs relating to unsold home sites	(2,885		)	(2,905		)
Estimated development liability for sold land	$	33,232		$	32,974

The estimated development liability for sold land is reduced by actual expenditures and is evaluated and adjusted, as appropriate, to reflect management’s estimate of potential costs.  In addition, we obtain third-party engineer evaluations and adjust this liability to reflect changes in the estimated costs. We recorded charges associated with these obligations of $317, $88, and ($794) during 2013, 2012, and 2011, respectively. Cash expenditures associated with these obligations were $59, $88, and $299 during 2013, 2012, and 2011, respectively. Future increases or decreases of costs for construction, material and labor, as well as other land development and utilities infrastructure costs, may have a significant effect on the estimated development liability.