Inventory And Land Held For Sale (Tables)

9 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Components of Inventory

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

	September 30, 2014		December 31, 2013
Homes under construction	$	1,404,377	$	1,042,147
Land under development	2,243,887		2,189,387
Raw land	783,537		747,027
	$	4,431,801	$	3,978,561

Capitalized interest rollforward

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

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2014			2013			2014			2013
Interest in inventory, beginning of period	$	210,603		$	298,575		$	230,922		$	331,880
Interest capitalized	32,025			35,962			98,793			118,527
Interest expensed	(52,286		)	(68,013		)	(139,373		)	(183,883		)
Interest in inventory, end of period	$	190,342		$	266,524		$	190,342		$	266,524
Interest incurred (a)	$	32,025		$	35,962		$	98,793		$	118,527

(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):

	September 30, 2014			December 31, 2013
Land held for sale, gross	$	100,300		$	70,003
Net realizable value reserves	(7,138		)	(8,268		)
Land held for sale, net	$	93,162		$	61,735