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Capitalized Interest
9 Months Ended
Sep. 30, 2011
Capitalized Interest [Abstract] 
capitalized interest [Text Block]
Capitalized Interest

The Company capitalizes interest during land development and home construction. Capitalized interest is charged to cost of sales as the related inventory is delivered to a third party. A summary of capitalized interest is as follows:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In thousands)
2011
 
2010
 
2011
 
2010
Capitalized interest, beginning of period
$
19,758

 
$
21,470

 
$
20,075

 
$
23,670

Interest capitalized to inventory
2,773

 
2,495

 
7,613

 
7,480

Capitalized interest charged to cost of sales
(2,515
)
 
(2,719
)
 
(7,672
)
 
(9,904
)
Capitalized interest, end of period
$
20,016

 
$
21,246

 
$
20,016

 
$
21,246

 
 
 
 
 
 
 
 
Interest incurred — net
$
6,157

 
$
4,447

 
$
18,497

 
$
13,652