Note 21 - Supplemental Guarantor Information (Tables)

9 Months Ended

Sep. 30, 2013

Supplemental Guarantor Information [Abstract]

Supplemental Condensed Consolidating Statements of Operations [Table Text Block]

	Three Months Ended September 30, 2013
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	228,520		$	212,707		$	70,529		$	―		$	511,756
Cost of sales		(165,466	)		(162,589	)		(54,311	)		―			(382,366	)
Gross margin		63,054			50,118			16,218			―			129,390
Selling, general and administrative expenses		(25,799	)		(29,095	)		(7,045	)		―			(61,939	)
Income (loss) from unconsolidated joint ventures		165			(111	)		(86	)		―			(32	)
Equity income (loss) of subsidiaries		22,421			―			―			(22,421	)		―
Interest income (expense), net		3,827			(2,732	)		(1,095	)		―			―
Other income (expense)		(495	)		144			652			―			301
Homebuilding pretax income (loss)		63,173			18,324			8,644			(22,421	)		67,720
Financial Services:
Financial services pretax income		―			―			2,416			―			2,416
Income (loss) before income taxes		63,173			18,324			11,060			(22,421	)		70,136
Provision for income taxes		(4,238	)		(5,913	)		(1,050	)		―			(11,201	)
Net income (loss)	$	58,935		$	12,411		$	10,010		$	(22,421	)	$	58,935

	Three Months Ended September 30, 2012
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	148,216		$	141,155		$	29,170		$	-		$	318,541
Cost of sales		(119,019	)		(111,353	)		(24,064	)		-			(254,436	)
Gross margin		29,197			29,802			5,106			-			64,105
Selling, general and administrative expenses		(20,157	)		(19,968	)		(2,996	)		-			(43,121	)
Income (loss) from unconsolidated joint ventures		310			(38	)		(311	)		-			(39	)
Equity income (loss) of subsidiaries		4,285			-			-			(4,285	)		-
Interest income (expense), net		4,209			(4,215	)		(1,663	)		-			(1,669	)
Other income (expense)		808			22			(713	)		-			117
Homebuilding pretax income (loss)		18,652			5,603			(577	)		(4,285	)		19,393
Financial Services:
Financial services pretax income		-			-			2,511			-			2,511
Income (loss) before income taxes		18,652			5,603			1,934			(4,285	)		21,904
(Provision) benefit for income taxes		3,058			(2,343	)		(909	)		-			(194	)
Net income (loss)	$	21,710		$	3,260		$	1,025		$	(4,285	)	$	21,710

	Nine Months Ended September 30, 2013
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	599,452		$	556,691		$	152,015		$	―		$	1,308,158
Cost of sales		(450,521	)		(429,729	)		(121,230	)		―			(1,001,480	)
Gross margin		148,931			126,962			30,785			―			306,678
Selling, general and administrative expenses		(69,750	)		(77,771	)		(15,310	)		―			(162,831	)
Income (loss) from unconsolidated joint ventures		1,660			(235	)		(176	)		―			1,249
Equity income (loss) of subsidiaries		43,692			―			―			(43,692	)		―
Interest income (expense), net		13,112			(9,423	)		(3,689	)		―			―
Other income (expense)		1,503			(13	)		1,134			―			2,624
Homebuilding pretax income (loss)		139,148			39,520			12,744			(43,692	)		147,720
Financial Services:
Financial services pretax income		―			―			8,953			―			8,953
Income (loss) before income taxes		139,148			39,520			21,697			(43,692	)		156,673
Provision for income taxes		(15,253	)		(13,873	)		(3,652	)		―			(32,778	)
Net income (loss)	$	123,895		$	25,647		$	18,045		$	(43,692	)	$	123,895

	Nine Months Ended September 30, 2012
	Standard Pacific Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Homebuilding:
Revenues	$	335,887		$	407,520		$	73,708		$	―		$	817,115
Cost of sales		(265,519	)		(325,276	)		(61,188	)		―			(651,983	)
Gross margin		70,368			82,244			12,520			―			165,132
Selling, general and administrative expenses		(56,524	)		(58,490	)		(7,751	)		―			(122,765	)
Loss from unconsolidated joint ventures		(648	)		(157	)		(1,902	)		―			(2,707	)
Equity income (loss) of subsidiaries		8,923			―			―			(8,923	)		―
Interest income (expense), net		11,948			(12,799	)		(4,965	)		―			(5,816	)
Other income (expense)		4,616			322			(230	)		―			4,708
Homebuilding pretax income (loss)		38,683			11,120			(2,328	)		(8,923	)		38,552
Financial Services:
Financial services pretax income		―			―			6,514			―			6,514
Income (loss) before income taxes		38,683			11,120			4,186			(8,923	)		45,066
(Provision) benefit for income taxes		5,813			(4,325	)		(2,058	)		―			(570	)
Net income (loss)	$	44,496		$	6,795		$	2,128		$	(8,923	)	$	44,496

Supplemental Condensed Consolidating Balance Sheets [Table Text Block]

	September 30, 2013
	Standard Pacific Corp.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and equivalents	$	202,270	$	365	$	143,364	$	―		$	345,999
Restricted cash		―		―		27,524		―			27,524
Trade, intercompany and other receivables		1,227,039		6,641		9,698		(1,224,192	)		19,186
Inventories - owned		752,675		971,366		686,608		―			2,410,649
Inventories - not owned		6,488		40,810		56,436		―			103,734
Investments in unconsolidated joint ventures		328		467		57,535		―			58,330
Investments in subsidiaries		768,092		―		―		(768,092	)		―
Deferred income taxes, net		409,009		―		―		(3,097	)		405,912
Other assets		41,570		4,763		2,479		―			48,812
Total Homebuilding Assets		3,407,471		1,024,412		983,644		(1,995,381	)		3,420,146
Financial Services:
Cash and equivalents		―		―		17,129		―			17,129
Restricted cash		―		―		1,795		―			1,795
Mortgage loans held for sale, net		―		―		75,211		―			75,211
Mortgage loans held for investment, net		―		―		10,989		―			10,989
Other assets		―		―		6,876		(1,950	)		4,926
Total Financial Services Assets		―		―		112,000		(1,950	)		110,050
Total Assets	$	3,407,471	$	1,024,412	$	1,095,644	$	(1,997,331	)	$	3,530,196
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	13,048	$	9,997	$	6,256	$	―		$	29,301
Accrued liabilities and intercompany payables		161,880		706,739		546,061		(1,218,202	)		196,478
Secured project debt and other notes payable		―		―		5,105		―			5,105
Senior notes payable		1,832,517		―		―		―			1,832,517
Total Homebuilding Liabilities		2,007,445		716,736		557,422		(1,218,202	)		2,063,401
Financial Services:
Accounts payable and other liabilities		―		―		13,626		(11,037	)		2,589
Mortgage credit facilities		―		―		64,180		―			64,180
Total Financial Services Liabilities		―		―		77,806		(11,037	)		66,769
Total Liabilities		2,007,445		716,736		635,228		(1,229,239	)		2,130,170
Equity:
Total Stockholders' Equity		1,400,026		307,676		460,416		(768,092	)		1,400,026
Total Liabilities and Equity	$	3,407,471	$	1,024,412	$	1,095,644	$	(1,997,331	)	$	3,530,196

	December 31, 2012
	Standard Pacific Corp.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
ASSETS
Homebuilding:
Cash and equivalents	$	154,722	$	114	$	185,072	$	―		$	339,908
Restricted cash		―		―		26,900		―			26,900
Trade, intercompany and other receivables		845,549		4,219		19,981		(859,025	)		10,724
Inventories - owned		759,553		766,188		445,677		―			1,971,418
Inventories - not owned		4,495		36,991		29,809		―			71,295
Investments in unconsolidated joint ventures		1,649		622		50,172		―			52,443
Investments in subsidiaries		717,205		―		―		(717,205	)		―
Deferred income taxes, net		455,224		―		―		148			455,372
Other assets		37,817		3,267		834		―			41,918
Total Homebuilding Assets		2,976,214		811,401		758,445		(1,576,082	)		2,969,978
Financial Services:
Cash and equivalents		―		―		6,647		―			6,647
Restricted cash		―		―		2,420		―			2,420
Mortgage loans held for sale, net		―		―		119,549		―			119,549
Mortgage loans held for investment, net		―		―		9,923		―			9,923
Other assets		―		―		7,249		(2,692	)		4,557
Total Financial Services Assets		―		―		145,788		(2,692	)		143,096
Total Assets	$	2,976,214	$	811,401	$	904,233	$	(1,578,774	)	$	3,113,074
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	8,038	$	10,537	$	3,871	$	-		$	22,446
Accrued liabilities and intercompany payables		175,054		519,139		343,485		(839,534	)		198,144
Secured project debt and other notes payable		6,804		―		4,712		―			11,516
Senior notes payable		1,530,502		―		―		―			1,530,502
Total Homebuilding Liabilities		1,720,398		529,676		352,068		(839,534	)		1,762,608
Financial Services:
Accounts payable and other liabilities		―		―		11,026		(8,535	)		2,491
Mortgage credit facilities		―		―		105,659		(13,500	)		92,159
Total Financial Services Liabilities		―		―		116,685		(22,035	)		94,650
Total Liabilities		1,720,398		529,676		468,753		(861,569	)		1,857,258
Equity:
Total Stockholders' Equity		1,255,816		281,725		435,480		(717,205	)		1,255,816
Total Liabilities and Equity	$	2,976,214	$	811,401	$	904,233	$	(1,578,774	)	$	3,113,074

Supplemental Condensed Consolidating Statements of Cash Flows [Table Text Block]

	Nine Months Ended September 30, 2013
	Standard Pacific Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments		Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Cash Flows From Operating Activities:
Net cash provided by (used in) operating activities	$	247,524		$	(180,993	)	$	(192,927	)	$	―	$	(126,396	)
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		(393	)		(49	)		(12,500	)		―		(12,942	)
Distributions of capital from unconsolidated homebuilding joint ventures		―			100			2,219			―		2,319
Net cash paid for acquisitions		(113,793	)		―			―			―		(113,793	)
Other investing activities		(931	)		(2,824	)		(979	)		―		(4,734	)
Net cash provided by (used in) investing activities		(115,117	)		(2,773	)		(11,260	)				(129,150	)
Cash Flows From Financing Activities:
Change in restricted cash		―			―			1			―		1
Principal payments on secured project debt and other notes payable		(6,804	)		―			(485	)		―		(7,289	)
Proceeds from issuance of senior notes payable		300,000			―			―			―		300,000
Payment of debt issuance costs		(4,045	)		―			―			―		(4,045	)
Net proceeds from (payments on) mortgage credit facilities		―			―			(27,979	)		―		(27,979	)
(Contributions to) distributions from Corporate and subsidiaries		(6,891	)		―			6,891			―		―
Payment of common stock issuance costs		(350	)		―			―			―		(350	)
Proceeds from the exercise of stock options		11,781			―			―			―		11,781
Intercompany advances, net		(378,550	)		184,017			194,533			―		―
Net cash provided by (used in) financing activities		(84,859	)		184,017			172,961					272,119
Net increase (decrease) in cash and equivalents		47,548			251			(31,226	)		―		16,573
Cash and equivalents at beginning of period		154,722			114			191,719			―		346,555
Cash and equivalents at end of period	$	202,270		$	365		$	160,493		$	―	$	363,128

	Nine Months Ended September 30, 2012
	Standard Pacific Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Standard Pacific Corp.
	(Dollars in thousands)
Cash Flows From Operating Activities:
Net cash provided by (used in) operating activities	$	80,893		$	(82,699	)	$	(143,730	)	$	(25,600	)	$	(171,136	)
Cash Flows From Investing Activities:
Investments in unconsolidated homebuilding joint ventures		(2,525	)		(144	)		(76,009	)		25,600			(53,078	)
Distributions of capital from unconsolidated homebuilding joint ventures		1,205			―			10,735			―			11,940
Net cash paid for acquisitions		―			―			(60,752	)		―			(60,752	)
Other investing activities		(1,170	)		(402	)		(133	)		―			(1,705	)
Net cash provided by (used in) investing activities		(2,490	)		(546	)		(126,159	)		25,600			(103,595	)
Cash Flows From Financing Activities:
Change in restricted cash		―			―			5,034			―			5,034
Principal payments on secured project debt and other notes payable		―			―			(782	)		―			(782	)
Principal payments on senior subordinated notes payable		(9,990	)		―			―			―			(9,990	)
Proceeds from senior notes payable		253,000			―			―			―			253,000
Payments of debt issuance costs		(8,081	)		―			―			―			(8,081	)
Net proceeds from (payments on) mortgage credit facilities		―			―			24,227			―			24,227
Proceeds from the issuance of common stock		75,849			―			―			―			75,849
Distributions from (contributions to) Corporate and subsidiaries		73,000			―			(73,000	)		―			―
Payments of common stock		(3,913	)		―			―			―			(3,913	)
Proceeds from the exercise of stock options		8,321			―			―			―			8,321
Intercompany advances, net		(226,719	)		83,242			143,477			―			―
Net cash provided by (used in) financing activities		161,467			83,242			98,956			―			343,665
Net increase (decrease) in cash and equivalents		239,870			(3	)		(170,933	)		―			68,934
Cash and equivalents at beginning of period		66,757			176			343,589			―			410,522
Cash and equivalents at end of period	$	306,627		$	173		$	172,656		$	―		$	479,456