Inventory And Land Held For Sale (Tables)

6 Months Ended

Jun. 30, 2014

Inventory Disclosure [Abstract]

Components of Inventory

Major components of inventory were as follows ($000’s omitted):

	June 30, 2014		December 31, 2013
Homes under construction	$	1,308,724	$	1,042,147
Land under development	2,113,885		2,189,387
Raw land	774,512		747,027
	$	4,197,121	$	3,978,561

Capitalized interest rollforward

Information related to interest capitalized into inventory is as follows ($000’s omitted):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
Interest in inventory, beginning of period	$	225,619		$	320,859		$	230,922		$	331,880
Interest capitalized	31,455			39,909			66,768			82,565
Interest expensed	(46,471		)	(62,193		)	(87,087		)	(115,870		)
Interest in inventory, end of period	$	210,603		$	298,575		$	210,603		$	298,575
Interest incurred (a)	$	31,455		$	39,909		$	66,768		$	82,565

(a) Homebuilding interest incurred includes interest on senior debt and certain other financing arrangements.

Land Held for Sale

Land held for sale was as follows ($000’s omitted):

	June 30, 2014			December 31, 2013
Land held for sale, gross	$	88,221		$	70,003
Net realizable value reserves	(7,893		)	(8,268		)
Land held for sale, net	$	80,328		$	61,735