Note 19 - Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2016

Condensed Balance Sheet [Table Text Block]

	March 31, 2016
					Non-
			Guarantor		Guarantor		Eliminating			Consolidated
	MDC		Subsidiaries		Subsidiaries		Entries			MDC
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and cash equivalents	$	95,785	$	3,246	$	-	$	-		$	99,031
Marketable securities		77,154		-		-		-			77,154
Restricted cash		-		3,349		-		-			3,349
Trade and other receivables		5,810		34,603		-		(2,317	)		38,096
Inventories:
Housing completed or under construction		-		862,515		-		-			862,515
Land and land under development		-		948,767		-		-			948,767
Total inventories		-		1,811,282		-		-			1,811,282

Intercompany receivables		1,652,426		2,805		5,819		(1,661,050	)		-
Investment in subsidiaries		202,145		-		-		(202,145	)		-
Property and equipment, net		26,882		2,492		-		-			29,374
Deferred tax asset, net		94,322		-		-		1,558			95,880
Metropolitan district bond securities (related party)		27,277		-		-		-			27,277
Prepaid and other assets		5,277		57,655		-		-			62,932
Total homebuilding assets		2,187,078		1,915,432		5,819		(1,863,954	)		2,244,375

Financial Services:
Cash and cash equivalents		-		-		39,504		-			39,504
Marketable securities		-		-		12,268		-			12,268
Intercompany receivables		-		-		38,999		(38,999	)		-
Mortgage loans held-for-sale, net		-		-		82,193		-			82,193
Other assets		-		-		9,024		(1,558	)		7,466
Total financial services assets		-		-		181,988		(40,557	)		141,431
Total Assets	$	2,187,078	$	1,915,432	$	187,807	$	(1,904,511	)	$	2,385,806

LIABILITIES AND EQUITY

Homebuilding:
Accounts payable	$	-	$	46,669	$	-	$	-		$	46,669
Accrued liabilities		25,363		84,903		142		383			110,791
Advances and notes payable to parent and subsidiaries		47,623		1,622,233		26,270		(1,696,126	)		-
Revolving credit facility		15,000		-		-		-			15,000
Senior notes, net		840,798		-		-		-			840,798
Total homebuilding liabilities		928,784		1,753,805		26,412		(1,695,743	)		1,013,258

Financial Services:
Accounts payable and other liabilities		-		-		56,733		(2,700	)		54,033
Advances and notes payable to parent and subsidiaries		-		-		3,923		(3,923	)		-
Mortgage repurchase facility		-		-		60,221		-			60,221
Total financial services liabilities		-		-		120,877		(6,623	)		114,254
Total Liabilities		928,784		1,753,805		147,289		(1,702,366	)		1,127,512

Equity:
Total Stockholders' Equity		1,258,294		161,627		40,518		(202,145	)		1,258,294
Total Liabilities and Stockholders' Equity	$	2,187,078	$	1,915,432	$	187,807	$	(1,904,511	)	$	2,385,806

	December 31, 2015
					Non-
			Guarantor		Guarantor			Eliminating			Consolidated
	MDC		Subsidiaries		Subsidiaries			Entries			MDC
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and cash equivalents	$	141,245	$	3,097	$	-		$	-		$	144,342
Marketable securities		92,387		-		-			-			92,387
Restricted cash		-		3,750		-			-			3,750
Trade and other receivables		5,304		20,297		-			(2,287	)		23,314
Inventories:
Housing completed or under construction		-		747,036		-			-			747,036
Land and land under development		-		1,016,926		-			-			1,016,926
Total inventories		-		1,763,962		-			-			1,763,962

Intercompany receivables		1,509,551		2,850		5,291			(1,517,692	)		-
Investment in subsidiaries		267,191		-		-			(267,191	)		-
Property and equipment, net		26,073		2,153		-			-			28,226
Deferred tax asset, net		97,083		-		-			2,024			99,107
Metropolitan district bond securities (related party)		25,911		-		-			-			25,911
Prepaid and other assets		5,973		59,421		-			-			65,394
Total homebuilding assets		2,170,718		1,855,530		5,291			(1,785,146	)		2,246,393

Financial Services:
Cash and cash equivalents		-		-		36,646			-			36,646
Marketable securities		-		-		11,307			-			11,307
Intercompany receivables		-		-		39,234			(39,234	)		-
Mortgage loans held-for-sale, net		-		-		115,670			-			115,670
Other assets		-		-		7,907			(2,024	)		5,883
Total financial services assets		-		-		210,764			(41,258	)		169,506
Total Assets	$	2,170,718	$	1,855,530	$	216,055		$	(1,826,404	)	$	2,415,899

LIABILITIES AND EQUITY

Homebuilding:
Accounts payable	$	-	$	40,472	$	-		$	-		$	40,472
Accrued liabilities		11,527		108,445		(33	)		2,947			122,886
Advances and notes payable to parent and subsidiaries		47,375		1,480,589		25,536			(1,553,500	)		-
Revolving credit facility		15,000		-		-			-			15,000
Senior notes, net		840,524		-		-			-			840,524
Total homebuilding liabilities		914,426		1,629,506		25,503			(1,550,553	)		1,018,882

Financial Services:
Accounts payable and accrued liabilities		-		-		57,348			(5,234	)		52,114
Advances and notes payable to parent and subsidiaries		-		-		3,426			(3,426	)		-
Mortgage repurchase facility		-		-		88,611			-			88,611
Total financial services liabilities		-		-		149,385			(8,660	)		140,725
Total Liabilities		914,426		1,629,506		174,888			(1,559,213	)		1,159,607

Equity:
Total Stockholders' Equity		1,256,292		226,024		41,167			(267,191	)		1,256,292
Total Liabilities and Stockholders' Equity	$	2,170,718	$	1,855,530	$	216,055		$	(1,826,404	)	$	2,415,899

Condensed Income Statement [Table Text Block]

	Three Months Ended March 31, 2016
							Non-
				Guarantor			Guarantor			Eliminating			Consolidated
	MDC			Subsidiaries			Subsidiaries			Entries			MDC
	(Dollars in thousands)
Homebuilding:
Revenues	$	-		$	396,744		$	-		$	-		$	396,744
Home and land cost of sales		-			(331,389	)		(300	)		-			(331,689	)
Inventory impairments		-			-			-			-			-
Total cost of sales		-			(331,389	)		(300	)		-			(331,689	)
Gross margin		-			65,355			(300	)		-			65,055
Selling, general, and administrative expenses		(12,102	)		(44,016	)		-			(159	)		(56,277	)
Equity income of subsidiaries		17,370			-			-			(17,370	)		-
Interest and other income		1,386			729			1			(266	)		1,850
Other expense		(916	)		(625	)		-			-			(1,541	)
Other-than-temporary impairment of marketable securities		(431	)		-			-			-			(431	)
Homebuilding pretax income (loss)		5,307			21,443			(299	)		(17,795	)		8,656
Financial Services:
Financial services pretax income		-			-			5,192			425			5,617
Income before income taxes		5,307			21,443			4,893			(17,370	)		14,273
(Provision) benefit for income taxes		4,256			(7,076	)		(1,890	)		-			(4,710	)
Net income	$	9,563		$	14,367		$	3,003		$	(17,370	)	$	9,563
Other comprehensive income related to available for sale securities, net of tax		1,948			-			(1	)		1			1,948
Comprehensive income	$	11,511		$	14,367		$	3,002		$	(17,369	)	$	11,511

	Three Months Ended March 31, 2015
							Non-
				Guarantor			Guarantor			Eliminating			Consolidated
	MDC			Subsidiaries			Subsidiaries			Entries			MDC
	(Dollars in thousands)
Homebuilding:
Revenues	$	-		$	377,919		$	-		$	-		$	377,919
Home and land cost of sales		-			(319,767	)		-			-			(319,767	)
Inventory impairments		-			(350	)		-			-			(350	)
Total cost of sales		-			(320,117	)		-			-			(320,117	)
Gross margin		-			57,802			-			-			57,802
Selling, general, and administrative expenses		(8,922	)		(41,457	)		-			(153	)		(50,532	)
Equity income of subsidiaries		12,992			-			-			(12,992	)		-
Interest and other income		1,574			281			5			5			1,865
Interest expense		86			-			-			(86	)		-
Other expense		(13	)		(1,132	)		-			-			(1,145	)
Other-than-temporary impairment of marketable securities		-			-			-			-			-
Homebuilding pretax income (loss)		5,717			15,494			5			(13,226	)		7,990
Financial Services:
Financial services pretax income		-			-			5,102			234			5,336
Income before income taxes		5,717			15,494			5,107			(12,992	)		13,326
(Provision) benefit for income taxes		2,703			(5,704	)		(1,905	)		-			(4,906	)
Net income	$	8,420		$	9,790		$	3,202		$	(12,992	)	$	8,420
Other comprehensive income related to available for sale securities, net of tax		1,308			-			259			(259	)		1,308
Comprehensive income	$	9,728		$	9,790		$	3,461		$	(13,251	)	$	9,728

Condensed Cash Flow Statement [Table Text Block]

	Three Months Ended March 31, 2016
							Non-
				Guarantor			Guarantor			Eliminating			Consolidated
	MDC			Subsidiaries			Subsidiaries			Entries			MDC
	(Dollars in thousands)
Net cash provided by (used in) operating activities	$	12,225		$	(62,160	)	$	34,950		$	-		$	(14,985	)
Net cash provided by (used in) investing activities		(45,433	)		(528	)		(976	)		60,111			13,174
Financing activities:
Payments from (advances to) subsidiaries		-			62,837			(2,726	)		(60,111	)		-
Mortgage repurchase facility		-			-			(28,390	)		-			(28,390	)
Dividend payments		(12,252	)		-			-			-			(12,252	)
Net cash provided by (used in) financing activities		(12,252	)		62,837			(31,116	)		(60,111	)		(40,642	)

Net increase in cash and cash equivalents		(45,460	)		149			2,858			-			(42,453	)
Cash and cash equivalents:
Beginning of period		141,245			3,097			36,646			-			180,988
End of period	$	95,785		$	3,246		$	39,504		$	-		$	138,535

	Three Months Ended March 31, 2015
							Non-
				Guarantor			Guarantor			Eliminating			Consolidated
	MDC			Subsidiaries			Subsidiaries			Entries			MDC
	(Dollars in thousands)
Net cash provided by (used in) operating activities	$	17,605		$	(25,582	)	$	23,403		$	-		$	15,426
Net cash provided by (used in) investing activities		(27,027	)		(258	)		(3,026	)		23,973			(6,338	)
Financing activities:
Payments from (advances to) subsidiaries		-			26,159			(2,186	)		(23,973	)		-
Mortgage repurchase facility		-			-			(20,785	)		-			(20,785	)
Dividend payments		(12,213	)		-			-			-			(12,213	)
Net cash provided by (used in) financing activities		(12,213	)		26,159			(22,971	)		(23,973	)		(32,998	)

Net increase in cash and cash equivalents		(21,635	)		319			(2,594	)		-			(23,910	)
Cash and cash equivalents:
Beginning of period		119,951			2,691			31,183			-			153,825
End of period	$	98,316		$	3,010		$	28,589		$	-		$	129,915