Note 13 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended December 31,
	2016			2015			2014
	(Dollars in thousands)
Current (provision) benefit for income taxes:
Federal	$	(223,605	)	$	(83,541	)	$	(28,942	)
State		(16,470	)		(6,803	)		(6,159	)
		(240,075	)		(90,344	)		(35,101	)
Deferred (provision) benefit for income taxes:
Federal		(6,128	)		(24,395	)		(84,704	)
State		(22,183	)		(14,241	)		(14,294	)
		(28,311	)		(38,636	)		(98,998	)
(Provision) benefit for income taxes	$	(268,386	)	$	(128,980	)	$	(134,099	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	December 31,
	2016			2015
	(Dollars in thousands)
Inventory valuation adjustments	$	73,353		$	98,141
Financial accruals		106,862			129,120
Federal net operating loss carryforwards		92,043			97,507
State net operating loss carryforwards		45,607			60,739
Tax credit carryforwards		2,347			1,246
Goodwill impairment charges		3,396			4,287
Other, net		9,226			6,310
Total deferred tax asset		332,834			397,350
Less: Valuation allowance		(2,456	)		(1,156	)
Net deferred tax asset	$	330,378		$	396,194

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended December 31,
	2016			2015			2014
	(Dollars in thousands)
Income before taxes	$	753,116		$	342,489		$	349,964
(Provision) benefit for income taxes at federal statutory rate	$	(263,591	)	$	(119,871	)	$	(122,488	)
(Increases) decreases in tax resulting from:
State income taxes, net of federal benefit		(24,649	)		(11,680	)		(12,961	)
Net deferred tax asset valuation (allowance) benefit		(371	)		1,405			2,030
(Increases) decreases in liability for unrecognized tax benefits		(466	)		(1,611	)		(1,605	)
Nondeductible expenses and credits		364			(2,164	)		―
Domestic production activities deduction		18,324			6,150			1,562
Other, net		2,003			(1,209	)		(637	)
(Provision) benefit for income taxes	$	(268,386	)	$	(128,980	)	$	(134,099	)
Effective tax rate		35.6	%		37.7	%		38.3	%

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	Year Ended December 31,
	2016			2015			2014
	(Dollars in thousands)
Balance, beginning of the year	$	10,631		$	2,536		$	472
Assumed with Ryland merger		―			6,182			―
Changes based on tax positions related to the current year		2,256			2,060			1,567
Changes for tax position in prior years		―			―			497
Reductions due to lapse of statute of limitations		(761	)		(147	)		―
Settlements		―			―			―
Balance, end of the year	$	12,126		$	10,631		$	2,536