2015 Form 10-K Financial Statement
#000079929216000048 Filed on February 26, 2016
Income Statement
| Concept | 2015 | 2014 Q4 | 2014 Q3 |
|---|---|---|---|
| Revenue | $1.418B | $368.0M | $330.8M |
| YoY Change | 16.72% | 9.41% | 20.19% |
| Cost Of Revenue | $1.115B | $292.2M | $261.6M |
| YoY Change | 16.24% | 9.15% | 19.89% |
| Gross Profit | $303.7M | $73.76M | $68.51M |
| YoY Change | 18.54% | 10.04% | 24.77% |
| Gross Profit Margin | 21.41% | 20.05% | 20.71% |
| Selling, General & Admin | $188.3M | $50.50M | $43.68M |
| YoY Change | 10.78% | 5.21% | 20.46% |
| % of Gross Profit | 62.0% | 68.47% | 63.76% |
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $10.93M | $1.800M | $1.400M |
| YoY Change | 31.73% | 50.0% | 16.67% |
| % of Gross Profit | 3.6% | 2.44% | 2.04% |
| Operating Expenses | $188.3M | $50.50M | $43.68M |
| YoY Change | 10.78% | 5.21% | 20.46% |
| Operating Profit | $111.8M | $23.26M | $24.83M |
| YoY Change | 35.09% | 22.22% | 33.14% |
| Interest Expense | $17.52M | -$3.500M | $2.649M |
| YoY Change | 31.1% | -5.41% | -23.2% |
| % of Operating Profit | 15.67% | -15.05% | 10.67% |
| Other Income/Expense, Net | |||
| YoY Change | |||
| Pretax Income | $86.93M | $19.70M | $22.20M |
| YoY Change | 24.65% | 28.76% | 61.45% |
| Income Tax | $35.17M | $8.800M | $8.586M |
| % Of Pretax Income | 40.45% | 44.67% | 38.67% |
| Net Earnings | $51.76M | $11.00M | $13.62M |
| YoY Change | 1.92% | -15.66% | -89.13% |
| Net Earnings / Revenue | 3.65% | 2.99% | 4.12% |
| Basic Earnings Per Share | $1.91 | $0.40 | $0.51 |
| Diluted Earnings Per Share | $1.68 | $0.36 | $0.44 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 24.58M shares | 24.49M shares | 24.47M shares |
| Diluted Shares Outstanding | 30.05M shares | 29.94M shares | 29.92M shares |
Balance Sheet
| Concept | 2015 | 2014 Q4 | 2014 Q3 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $10.20M | $15.50M | $17.20M |
| YoY Change | -34.19% | -87.96% | -87.93% |
| Cash & Equivalents | $10.20M | $22.49M | $17.17M |
| Short-Term Investments | |||
| Other Short-Term Assets | |||
| YoY Change | |||
| Inventory | $1.112B | $918.6M | $894.0M |
| Prepaid Expenses | |||
| Receivables | $127.0M | $92.80M | $77.00M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $1.249B | $1.027B | $988.2M |
| YoY Change | 21.65% | 13.92% | 12.4% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $12.90M | $11.49M | $11.43M |
| YoY Change | 12.17% | 9.05% | 10.48% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $37.00M | $27.77M | $40.77M |
| YoY Change | 33.09% | -21.26% | 19.6% |
| Other Assets | $70.30M | $101.4M | $111.8M |
| YoY Change | -30.67% | -18.75% | -13.0% |
| Total Long-Term Assets | $166.4M | $178.3M | $205.0M |
| YoY Change | -9.81% | -14.58% | 0.53% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $1.249B | $1.027B | $988.2M |
| Total Long-Term Assets | $166.4M | $178.3M | $205.0M |
| Total Assets | $1.416B | $1.205B | $1.193B |
| YoY Change | 16.86% | 8.56% | 10.16% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $86.90M | $75.30M | $97.90M |
| YoY Change | 15.41% | 7.26% | 14.1% |
| Accrued Expenses | |||
| YoY Change | |||
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $106.5M | $87.10M | $112.1M |
| YoY Change | 22.27% | 6.87% | 11.32% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $611.8M | $497.1M | $468.8M |
| YoY Change | 23.07% | 8.16% | 7.65% |
| Other Long-Term Liabilities | $100.7M | $82.90M | $79.00M |
| YoY Change | 21.47% | 8.79% | 17.38% |
| Total Long-Term Liabilities | $712.5M | $580.0M | $547.8M |
| YoY Change | 22.84% | 8.25% | 8.95% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $106.5M | $87.10M | $112.1M |
| Total Long-Term Liabilities | $712.5M | $580.0M | $547.8M |
| Total Liabilities | $819.0M | $660.9M | $659.9M |
| YoY Change | 22.77% | 7.06% | 9.34% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $308.5M | $298.8M | |
| YoY Change | 17.48% | 19.71% | |
| Common Stock | $238.8M | $238.4M | |
| YoY Change | 1.06% | 0.94% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | $51.24M | $52.01M | |
| YoY Change | -5.67% | -4.25% | |
| Treasury Stock Shares | 2.580M shares | 2.619M shares | |
| Shareholders Equity | $596.6M | $544.3M | $533.3M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $1.416B | $1.205B | $1.193B |
| YoY Change | 16.86% | 8.56% | 10.16% |
Cashflow Statement
| Concept | 2015 | 2014 Q4 | 2014 Q3 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $51.76M | $11.00M | $13.62M |
| YoY Change | 1.92% | -15.66% | -89.13% |
| Depreciation, Depletion And Amortization | $10.93M | $1.800M | $1.400M |
| YoY Change | 31.73% | 50.0% | 16.67% |
| Cash From Operating Activities | -$82.37M | -$25.80M | -$40.00M |
| YoY Change | -37.84% | -23.21% | 163.16% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $3.659M | -$600.0K | -$600.0K |
| YoY Change | 24.2% | -14.29% | 0.0% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$37.80M | -$7.600M | -$1.700M |
| YoY Change | 125.0% | 280.0% | -81.11% |
| Cash From Investing Activities | -$41.48M | -$8.200M | -$2.300M |
| YoY Change | 110.53% | 203.7% | -76.29% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | -$4.875M | ||
| YoY Change | 0.0% | ||
| Common Stock Issuance & Retirement, Net | $0.00 | ||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | $114.5M | 25.40M | 25.90M |
| YoY Change | 256.95% | 12.89% | 2058.33% |
| NET CHANGE | |||
| Cash From Operating Activities | -$82.37M | -25.80M | -40.00M |
| Cash From Investing Activities | -$41.48M | -8.200M | -2.300M |
| Cash From Financing Activities | $114.5M | 25.40M | 25.90M |
| Net Change In Cash | -$9.385M | -8.600M | -16.40M |
| YoY Change | -92.19% | -37.68% | -30.8% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$82.37M | -$25.80M | -$40.00M |
| Capital Expenditures | $3.659M | -$600.0K | -$600.0K |
| Free Cash Flow | -$86.02M | -$25.20M | -$39.40M |
| YoY Change | -36.49% | -23.4% | 169.86% |
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Inventory Model Homes And Furnishings
InventoryModelHomesAndFurnishings
|
46780000 | USD |
| CY2015Q4 | mho |
Inventory Model Homes And Furnishings
InventoryModelHomesAndFurnishings
|
63929000 | USD |
| CY2014Q4 | mho |
Inventory Segments
InventorySegments
|
895094000 | USD |
| CY2015Q4 | mho |
Inventory Segments
InventorySegments
|
1088332000 | USD |
| CY2013 | mho |
Land And Housing Costs
LandAndHousingCosts
|
824508000 | USD |
| CY2014 | mho |
Land And Housing Costs
LandAndHousingCosts
|
958991000 | USD |
| CY2015 | mho |
Land And Housing Costs
LandAndHousingCosts
|
1114663000 | USD |
| CY2014Q4 | mho |
Land Purchase Deposits
LandPurchaseDeposits
|
23495000 | USD |
| CY2015Q4 | mho |
Land Purchase Deposits
LandPurchaseDeposits
|
23710000 | USD |
| CY2015Q4 | mho |
Letters Of Credit And Bonds
LettersOfCreditAndBonds
|
144058000 | USD |
| CY2015Q4 | mho |
Letters Of Credit Outstanding Under Credit Facility
LettersOfCreditOutstandingUnderCreditFacility
|
39805000 | USD |
| CY2014Q4 | mho |
Letters Of Credit Outstanding Under Letter Of Credit Facilities
LettersOfCreditOutstandingUnderLetterOfCreditFacilities
|
6456000 | USD |
| CY2015Q4 | mho |
Letters Of Credit Outstanding Under Letter Of Credit Facilities
LettersOfCreditOutstandingUnderLetterOfCreditFacilities
|
2698000 | USD |
| CY2015Q4 | mho |
Leverageratio
Leverageratio
|
0.6 | |
| CY2014Q4 | mho |
Loan Repurchase Guarantee Liability
LoanRepurchaseGuaranteeLiability
|
2900000 | USD |
| CY2015Q4 | mho |
Loan Repurchase Guarantee Liability
LoanRepurchaseGuaranteeLiability
|
1175000 | USD |
| CY2015Q4 | mho |
Long Term Debt Maturities Repayments Of Principal
LongTermDebtMaturitiesRepaymentsOfPrincipal
|
619639000 | USD |
| CY2013 | mho |
Lossonearlyextinguishmentofdebtexcludingprepaymentpenalty
Lossonearlyextinguishmentofdebtexcludingprepaymentpenalty
|
1726000 | USD |
| CY2014 | mho |
Lossonearlyextinguishmentofdebtexcludingprepaymentpenalty
Lossonearlyextinguishmentofdebtexcludingprepaymentpenalty
|
0 | USD |
| CY2015 | mho |
Lossonearlyextinguishmentofdebtexcludingprepaymentpenalty
Lossonearlyextinguishmentofdebtexcludingprepaymentpenalty
|
2883000 | USD |
| CY2014Q4 | mho |
Maximum Borrowing Availability Under All Credit Lines
MaximumBorrowingAvailabilityUnderAllCreditLines
|
125000000 | USD |
| CY2015Q4 | mho |
Maximum Borrowing Availability Under All Credit Lines
MaximumBorrowingAvailabilityUnderAllCreditLines
|
150000000 | USD |
| CY2015Q4 | mho |
Maximumborrowingavailabilitysubjecttolimit
Maximumborrowingavailabilitysubjecttolimit
|
316400000 | USD |
| CY2015Q4 | mho |
Maximumexposurerelatedtoinvestmentsinunconsolidatedjointventuresorsimilararrangements
Maximumexposurerelatedtoinvestmentsinunconsolidatedjointventuresorsimilararrangements
|
39467000 | USD |
| CY2015Q4 | mho |
Minimum Tangible Net Worth
MinimumTangibleNetWorth
|
383200000 | USD |
| CY2014Q4 | mho |
Model Home Accumulated Depreciation
ModelHomeAccumulatedDepreciation
|
7010000 | USD |
| CY2015Q4 | mho |
Model Home Accumulated Depreciation
ModelHomeAccumulatedDepreciation
|
8296000 | USD |
| CY2014Q4 | mho |
Mortgage Loans Held For Sale Covered By Forward Sales Of Mortgage Backed Securities
MortgageLoansHeldForSaleCoveredByForwardSalesOfMortgageBackedSecurities
|
26825000 | USD |
| CY2015Q4 | mho |
Mortgage Loans Held For Sale Covered By Forward Sales Of Mortgage Backed Securities
MortgageLoansHeldForSaleCoveredByForwardSalesOfMortgageBackedSecurities
|
26690000 | USD |
| CY2014Q4 | mho |
Notional Amount Of Best Effort Contracts And Related Committed Interest Rate Lock Commitments
NotionalAmountOfBestEffortContractsAndRelatedCommittedInterestRateLockCommitments
|
3072000 | USD |
| CY2015Q4 | mho |
Notional Amount Of Best Effort Contracts And Related Committed Interest Rate Lock Commitments
NotionalAmountOfBestEffortContractsAndRelatedCommittedInterestRateLockCommitments
|
2625000 | USD |
| CY2014Q4 | mho |
Notional Amount Of Uncommitted Interest Rate Lock Commitments
NotionalAmountOfUncommittedInterestRateLockCommitments
|
28028000 | USD |
| CY2015Q4 | mho |
Notional Amount Of Uncommitted Interest Rate Lock Commitments
NotionalAmountOfUncommittedInterestRateLockCommitments
|
46339000 | USD |
| CY2014Q4 | mho |
Number Of Loans We Retain Mortgage Servicing Rights On
NumberOfLoansWeRetainMortgageServicingRightsOn
|
2517 | |
| CY2014Q4 | mho |
Number Of Speculative Homes
NumberOfSpeculativeHomes
|
979 | homes |
| CY2015Q4 | mho |
Number Of Speculative Homes
NumberOfSpeculativeHomes
|
872 | homes |
| CY2014Q4 | mho |
Obligation For Consolidated Inventory Not Owned
ObligationForConsolidatedInventoryNotOwned
|
608000 | USD |
| CY2015Q4 | mho |
Obligation For Consolidated Inventory Not Owned
ObligationForConsolidatedInventoryNotOwned
|
6007000 | USD |
| CY2013 | mho |
Original Issue Discount
OriginalIssueDiscount
|
0 | USD |
| CY2014 | mho |
Original Issue Discount
OriginalIssueDiscount
|
0 | USD |
| CY2015 | mho |
Original Issue Discount
OriginalIssueDiscount
|
-3126000 | USD |
| CY2014Q4 | mho |
Other Combined Assets
OtherCombinedAssets
|
258881000 | USD |
| CY2015Q4 | mho |
Other Combined Assets
OtherCombinedAssets
|
266545000 | USD |
| CY2015Q4 | mho |
Outstanding Deposits On Land And Lots
OutstandingDepositsOnLandAndLots
|
36433000 | USD |
| CY2015Q4 | mho |
Outstanding Letters Of Credit In Lieu Of Cash Deposits Under Certain Land Option Contracts
OutstandingLettersOfCreditInLieuOfCashDepositsUnderCertainLandOptionContracts
|
6503000 | USD |
| CY2015Q4 | mho |
Outstanding Performance Bonds
OutstandingPerformanceBonds
|
94250000 | USD |
| CY2015Q4 | mho |
Percentageweightof Ps Usrelatedtomarketcondition
PercentageweightofPSUsrelatedtomarketcondition
|
0.2 | Rate |
| CY2015Q4 | mho |
Percentageweightof Ps Usrelatedtoperformancecondition
PercentageweightofPSUsrelatedtoperformancecondition
|
0.8 | Rate |
| CY2015Q4 | mho |
Performance Letters Of Credit Outstanding
PerformanceLettersOfCreditOutstanding
|
30129000 | USD |
| CY2013Q2 | mho |
Preferredsharesredeemed
Preferredsharesredeemed
|
2000 | shares |
| CY2015Q4 | mho |
Prepaid Land Acquisition Costs
PrepaidLandAcquisitionCosts
|
4144000 | USD |
| CY2014 | mho |
Reduction Of Impairment Relating To Llcs
ReductionOfImpairmentRelatingToLlcs
|
5992000 | USD |
| CY2015 | mho |
Reduction Of Impairment Relating To Llcs
ReductionOfImpairmentRelatingToLlcs
|
4825000 | USD |
| CY2014Q4 | mho |
Restricted Cash For Secured Letter Of Credit Agreements
RestrictedCashForSecuredLetterOfCreditAgreements
|
6590000 | USD |
| CY2015Q4 | mho |
Restricted Cash For Secured Letter Of Credit Agreements
RestrictedCashForSecuredLetterOfCreditAgreements
|
2741000 | USD |
| CY2015Q4 | mho |
Restricted Payments Basket
RestrictedPaymentsBasket
|
128550000 | USD |
| CY2015Q4 | mho |
Share Based Compensation Arrangement By Share Based Payment Award Units Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardUnitsOutstanding
|
8059 | shares |
| CY2015Q4 | mho |
Share Based Compensation Arrangement By Share Based Payment Award Value Of Units Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardValueOfUnitsOutstanding
|
200000 | USD |
| CY2014Q4 | mho |
Speculative Homes Carrying Value
SpeculativeHomesCarryingValue
|
186700000 | USD |
| CY2015Q4 | mho |
Speculative Homes Carrying Value
SpeculativeHomesCarryingValue
|
184300000 | USD |
| CY2013Q4 | mho |
Stock Units Awarded Under2009 Ltip Plan
StockUnitsAwardedUnder2009LtipPlan
|
10500 | shares |
| CY2014Q4 | mho |
Stock Units Awarded Under2009 Ltip Plan
StockUnitsAwardedUnder2009LtipPlan
|
17500 | shares |
| CY2015Q4 | mho |
Stock Units Awarded Under2009 Ltip Plan
StockUnitsAwardedUnder2009LtipPlan
|
15000 | shares |
| CY2015Q4 | mho |
Stock Units Outstanding Under Stock Option Plan
StockUnitsOutstandingUnderStockOptionPlan
|
47982 | shares |
| CY2014Q4 | mho |
Total Loans Indemnified
TotalLoansIndemnified
|
2000000 | USD |
| CY2015Q4 | mho |
Total Loans Indemnified
TotalLoansIndemnified
|
2200000 | USD |
| CY2014Q4 | mho |
Total Of Guaranteed Loans Inquired About
TotalOfGuaranteedLoansInquiredAbout
|
9100000 | USD |
| CY2015Q4 | mho |
Total Of Guaranteed Loans Inquired About
TotalOfGuaranteedLoansInquiredAbout
|
1300000 | USD |
| CY2014Q4 | mho |
Total Of Loans Covered By Guarantees
TotalOfLoansCoveredByGuarantees
|
33440000 | USD |
| CY2015Q4 | mho |
Total Of Loans Covered By Guarantees
TotalOfLoansCoveredByGuarantees
|
12187000 | USD |
| CY2013 | mho |
Total Valuation Adjustments And Write Offs
TotalValuationAdjustmentsAndWriteOffs
|
5805000 | USD |
| CY2014 | mho |
Total Valuation Adjustments And Write Offs
TotalValuationAdjustmentsAndWriteOffs
|
3500000 | USD |
| CY2015 | mho |
Total Valuation Adjustments And Write Offs
TotalValuationAdjustmentsAndWriteOffs
|
3639000 | USD |
| CY2015Q4 | mho |
Total Value Of Units Outstanding Under All Stock Option Plans
TotalValueOfUnitsOutstandingUnderAllStockOptionPlans
|
1200000 | USD |
| CY2015Q4 | mho |
Uncommitted Lettersof Credit
UncommittedLettersofCredit
|
4900000 | USD |
| CY2015Q4 | mho |
Unrecorded Conditional Purchase Obligation
UnrecordedConditionalPurchaseObligation
|
513234000 | USD |
| CY2013 | mho |
Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
|
0 | USD |
| CY2014 | mho |
Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
|
1047000 | USD |
| CY2015 | mho |
Valuation Adjustments To Investments In Unconsolidated Entities
ValuationAdjustmentsToInvestmentsInUnconsolidatedEntities
|
0 | USD |
| CY2013Q4 | mho |
Value Of Stock Units Awarded Under2009 Ltip Plan
ValueOfStockUnitsAwardedUnder2009LtipPlan
|
300000 | USD |
| CY2014Q4 | mho |
Value Of Stock Units Awarded Under2009 Ltip Plan
ValueOfStockUnitsAwardedUnder2009LtipPlan
|
400000 | USD |
| CY2015Q4 | mho |
Value Of Stock Units Awarded Under2009 Ltip Plan
ValueOfStockUnitsAwardedUnder2009LtipPlan
|
300000 | USD |
| CY2014Q4 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
75338000 | USD |
| CY2015Q4 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
86878000 | USD |
| CY2014Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
24771000 | USD |
| CY2015Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
24704000 | USD |
| CY2014Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
238560000 | USD |
| CY2015Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
241239000 | USD |
| CY2014Q4 | us-gaap |
Advances On Inventory Purchases
AdvancesOnInventoryPurchases
|
23495000 | USD |
| CY2015Q4 | us-gaap |
Advances On Inventory Purchases
AdvancesOnInventoryPurchases
|
23710000 | USD |
| CY2013 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2000000 | USD |
| CY2014 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2700000 | USD |
| CY2015 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
3200000 | USD |
| CY2013 | us-gaap |
Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
|
0 | USD |
| CY2014 | us-gaap |
Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
|
775000 | USD |
| CY2015 | us-gaap |
Amortization Of Mortgage Servicing Rights Ms Rs
AmortizationOfMortgageServicingRightsMSRs
|
1010000 | USD |
| CY2013 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
963000 | shares |
| CY2014 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1250000 | shares |
| CY2015 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1447000 | shares |
| CY2013 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
5805000 | USD |
| CY2014 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
2410000 | USD |
| CY2015 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
3638000 | USD |
| CY2014Q4 | us-gaap |
Assets
Assets
|
1205239000 | USD |
| CY2015Q4 | us-gaap |
Assets
Assets
|
1415554000 | USD |
| CY2012Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
145498000 | USD |
| CY2013Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
128725000 | USD |
| CY2014Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
15535000 | USD |
| CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
10205000 | USD |
| CY2013 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-16773000 | USD |
| CY2014 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-113190000 | USD |
| CY2015 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-5330000 | USD |
| CY2014Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
0 | USD |
| CY2015Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
0 | USD |
| CY2014Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2015Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2014Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
58000000 | shares |
| CY2015Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
58000000 | shares |
| CY2014Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
27092723 | shares |
| CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
27092723 | shares |
| CY2014Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
271000 | USD |
| CY2015Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
271000 | USD |
| CY2013 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
995447000 | USD |
| CY2014 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
1145444000 | USD |
| CY2015 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
1331466000 | USD |
| CY2013 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
2000 | USD |
| CY2014 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
1766000 | USD |
| CY2015 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
1757000 | USD |
| CY2013 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
823000 | USD |
| CY2014 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
2447000 | USD |
| CY2015 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
2640000 | USD |
| CY2013 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
821000 | USD |
| CY2014 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
681000 | USD |
| CY2015 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
883000 | USD |
| CY2014Q4 | us-gaap |
Customer Advances And Deposits
CustomerAdvancesAndDeposits
|
11759000 | USD |
| CY2015Q4 | us-gaap |
Customer Advances And Deposits
CustomerAdvancesAndDeposits
|
19567000 | USD |
| CY2014Q4 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
3100000 | USD |
| CY2015Q4 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
2600000 | USD |
| CY2015Q4 | us-gaap |
Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
|
437180000 | USD |
| CY2015Q4 | us-gaap |
Deferred Compensation Equity
DeferredCompensationEquity
|
1500000 | USD |
| CY2013 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-102830000 | USD |
| CY2014 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
22141000 | USD |
| CY2015 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
28760000 | USD |
| CY2013 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-110911000 | USD |
| CY2014 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
16500000 | USD |
| CY2015 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
32526000 | USD |
| CY2014Q4 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
1624000 | USD |
| CY2015Q4 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
5519000 | USD |
| CY2013 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
-8081000 | USD |
| CY2014 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
-5641000 | USD |
| CY2015 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
3766000 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
96036000 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
67404000 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
|
11049000 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
|
9528000 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
94412000 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
61885000 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
94412000 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
67404000 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
69946000 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
42556000 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
1711000 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
649000 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Assets State Taxes
DeferredTaxAssetsStateTaxes
|
175000 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Assets State Taxes
DeferredTaxAssetsStateTaxes
|
211000 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBenefits
|
1100000 | USD |
| CY2013Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
400000 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
400000 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
300000 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
|
13155000 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
|
14460000 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
|
433000 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
|
0 | USD |
| CY2014Q4 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
1191000 | USD |
| CY2015Q4 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
0 | USD |
| CY2013 | us-gaap |
Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
|
800000 | USD |
| CY2014 | us-gaap |
Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
|
1000000 | USD |
| CY2015 | us-gaap |
Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
|
1200000 | USD |
| CY2013 | us-gaap |
Depreciation
Depreciation
|
4973000 | USD |
| CY2014 | us-gaap |
Depreciation
Depreciation
|
5175000 | USD |
| CY2015 | us-gaap |
Depreciation
Depreciation
|
6612000 | USD |
| CY2013 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
8311000 | USD |
| CY2014 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
8296000 | USD |
| CY2015 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
10928000 | USD |
| CY2013 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
-3656000 | USD |
| CY2014 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
-4875000 | USD |
| CY2015 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
-4875000 | USD |
| CY2013 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
6.11 | |
| CY2014Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.47 | |
| CY2014Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.50 | |
| CY2014Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.51 | |
| CY2014Q4 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.40 | |
| CY2014 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.88 | |
| CY2015Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.34 | |
| CY2015Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.49 | |
| CY2015Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.58 | |
| CY2015Q4 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.49 | |
| CY2015 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.91 | |
| CY2013 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
5.24 | |
| CY2014Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.41 | |
| CY2014Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.44 | |
| CY2014Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.44 | |
| CY2014Q4 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.36 | |
| CY2014 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.65 | |
| CY2015Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.31 | |
| CY2015Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.43 | |
| CY2015Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.51 | |
| CY2015Q4 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.43 | |
| CY2015 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.68 | |
| CY2013 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-2.6633 | |
| CY2014 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.2717 | |
| CY2015 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.4045 | |
| CY2015Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
7900000 | USD |
| CY2015 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P2Y19D | |
| CY2013 | us-gaap |
Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
|
0 | USD |
| CY2014 | us-gaap |
Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
|
1047000 | USD |
| CY2015 | us-gaap |
Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
|
0 | USD |
| CY2014Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
|
52904000 | USD |
| CY2015Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
|
59253000 | USD |
| CY2014Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Equity
EquityMethodInvestmentSummarizedFinancialInformationEquity
|
37864000 | USD |
| CY2015Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Equity
EquityMethodInvestmentSummarizedFinancialInformationEquity
|
50038000 | USD |
| CY2014Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Equity Or Capital
EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital
|
18728000 | USD |
| CY2015Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Equity Or Capital
EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital
|
24367000 | USD |
| CY2014Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
|
15040000 | USD |
| CY2015Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
|
9215000 | USD |
| CY2014Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Liabilities And Equity
EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity
|
52904000 | USD |
| CY2015Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Liabilities And Equity
EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity
|
59253000 | USD |
| CY2014Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Minority Interest
EquityMethodInvestmentSummarizedFinancialInformationMinorityInterest
|
19136000 | USD |
| CY2015Q4 | us-gaap |
Equity Method Investment Summarized Financial Information Minority Interest
EquityMethodInvestmentSummarizedFinancialInformationMinorityInterest
|
25671000 | USD |
| CY2013 | us-gaap |
Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
|
1146000 | USD |
| CY2014 | us-gaap |
Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
|
1277000 | USD |
| CY2015 | us-gaap |
Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
|
2273000 | USD |
| CY2013 | us-gaap |
Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
|
2909000 | USD |
| CY2014 | us-gaap |
Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
|
2424000 | USD |
| CY2015 | us-gaap |
Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
|
5800000 | USD |
| CY2014Q4 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
27769000 | USD |
| CY2015Q4 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
36967000 | USD |
| CY2013 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-1726000 | USD |
| CY2014 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
0 | USD |
| CY2015 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-7842000 | USD |
| CY2013 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
79494000 | USD |
| CY2014 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
88830000 | USD |
| CY2015 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
93208000 | USD |
| CY2013 | us-gaap |
General Insurance Expense
GeneralInsuranceExpense
|
5400000 | USD |
| CY2014 | us-gaap |
General Insurance Expense
GeneralInsuranceExpense
|
7800000 | USD |
| CY2015 | us-gaap |
General Insurance Expense
GeneralInsuranceExpense
|
6100000 | USD |
| CY2014Q1 | us-gaap |
Gross Profit
GrossProfit
|
50877000 | USD |
| CY2014Q2 | us-gaap |
Gross Profit
GrossProfit
|
59587000 | USD |
| CY2014Q3 | us-gaap |
Gross Profit
GrossProfit
|
68509000 | USD |
| CY2014Q4 | us-gaap |
Gross Profit
GrossProfit
|
73759000 | USD |
| CY2015Q1 | us-gaap |
Gross Profit
GrossProfit
|
56976000 | USD |
| CY2015Q2 | us-gaap |
Gross Profit
GrossProfit
|
70261000 | USD |
| CY2015Q3 | us-gaap |
Gross Profit
GrossProfit
|
78041000 | USD |
| CY2015Q4 | us-gaap |
Gross Profit
GrossProfit
|
94816000 | USD |
| CY2014Q4 | us-gaap |
Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
|
3100000 | USD |
| CY2015Q4 | us-gaap |
Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
|
1400000 | USD |
| CY2013 | us-gaap |
Impairment Of Real Estate
ImpairmentOfRealEstate
|
5805000 | USD |
| CY2014 | us-gaap |
Impairment Of Real Estate
ImpairmentOfRealEstate
|
3457000 | USD |
| CY2015 | us-gaap |
Impairment Of Real Estate
ImpairmentOfRealEstate
|
3638000 | USD |
| CY2013 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
41335000 | USD |
| CY2014 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
69736000 | USD |
| CY2015 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
86929000 | USD |
| CY2013 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
306000 | USD |
| CY2014 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
347000 | USD |
| CY2015 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
498000 | USD |
| CY2013 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-110088000 | USD |
| CY2014 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
18947000 | USD |
| CY2015 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
35166000 | USD |
| CY2013 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-126458000 | USD |
| CY2014 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
9291000 | USD |
| CY2015 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0 | USD |
| CY2013 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
14467000 | USD |
| CY2014 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
24407000 | USD |
| CY2015 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
30425000 | USD |
| CY2013 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
516000 | USD |
| CY2014 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
-148000 | USD |
| CY2015 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
373000 | USD |
| CY2013 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
534000 | USD |
| CY2014 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
2199000 | USD |
| CY2015 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
2820000 | USD |
| CY2013 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
765000 | USD |
| CY2014 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
2386000 | USD |
| CY2015 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
2308000 | USD |
| CY2013 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
22536000 | USD |
| CY2014 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
5112000 | USD |
| CY2015 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
9827000 | USD |
| CY2013 | us-gaap |
Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
|
9753000 | USD |
| CY2014 | us-gaap |
Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
|
1182000 | USD |
| CY2015 | us-gaap |
Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
|
1861000 | USD |
| CY2013 | us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
1023000 | USD |
| CY2014 | us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
497000 | USD |
| CY2015 | us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
3458000 | USD |
| CY2013 | us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
15547000 | USD |
| CY2014 | us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
25790000 | USD |
| CY2015 | us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
32526000 | USD |
| CY2013 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
156708000 | USD |
| CY2014 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
209318000 | USD |
| CY2015 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
159011000 | USD |
| CY2013 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
10219000 | USD |
| CY2014 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
5286000 | USD |
| CY2015 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
6296000 | USD |
| CY2013 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
11975000 | USD |
| CY2014 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
7618000 | USD |
| CY2015 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
4673000 | USD |
| CY2013 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
5185000 | USD |
| CY2014 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-7122000 | USD |
| CY2015 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-3849000 | USD |
| CY2013 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
29539000 | USD |
| CY2014 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
31302000 | USD |
| CY2015 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
35931000 | USD |
| CY2013 | us-gaap |
Interest Expense
InterestExpense
|
15938000 | USD |
| CY2014 | us-gaap |
Interest Expense
InterestExpense
|
13365000 | USD |
| CY2015 | us-gaap |
Interest Expense
InterestExpense
|
17521000 | USD |
| CY2013 | us-gaap |
Interest Paid Net
InterestPaidNet
|
11834000 | USD |
| CY2014 | us-gaap |
Interest Paid Net
InterestPaidNet
|
9730000 | USD |
| CY2015 | us-gaap |
Interest Paid Net
InterestPaidNet
|
15173000 | USD |
| CY2014Q4 | us-gaap |
Inventory Homes Under Construction
InventoryHomesUnderConstruction
|
371119000 | USD |
| CY2015Q4 | us-gaap |
Inventory Homes Under Construction
InventoryHomesUnderConstruction
|
420206000 | USD |
| CY2014Q4 | us-gaap |
Inventory Land Held For Sale
InventoryLandHeldForSale
|
10647000 | USD |
| CY2015Q4 | us-gaap |
Inventory Land Held For Sale
InventoryLandHeldForSale
|
12630000 | USD |
| CY2014Q4 | us-gaap |
Inventory Real Estate
InventoryRealEstate
|
918589000 | USD |
| CY2015Q4 | us-gaap |
Inventory Real Estate
InventoryRealEstate
|
1112042000 | USD |
| CY2014Q4 | us-gaap |
Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
|
463198000 | USD |
| CY2015Q4 | us-gaap |
Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
|
584542000 | USD |
| CY2014Q4 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
0 | USD |
| CY2015Q4 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
0 | USD |
| CY2014Q4 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
33626000 | USD |
| CY2015Q4 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
42503000 | USD |
| CY2014Q4 | us-gaap |
Liabilities
Liabilities
|
660944000 | USD |
| CY2015Q4 | us-gaap |
Liabilities
Liabilities
|
818988000 | USD |
| CY2014Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1205239000 | USD |
| CY2015Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1415554000 | USD |
| CY2014Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
30000000 | USD |
| CY2015Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
43800000 | USD |
| CY2015 | us-gaap |
Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
|
2018-10-20 | |
| CY2014Q4 | us-gaap |
Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupMortgage
|
92794000 | USD |
| CY2015Q4 | us-gaap |
Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupMortgage
|
127001000 | USD |
| CY2015Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
|
300237000 | USD |
| CY2015Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
124746000 | USD |
| CY2015Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
|
302000 | USD |
| CY2015Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
|
417000 | USD |
| CY2015Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
130541000 | USD |
| CY2015Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
63396000 | USD |
| CY2013 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
92755000 | USD |
| CY2014 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
32066000 | USD |
| CY2015 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
114460000 | USD |
| CY2013 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-35554000 | USD |
| CY2014 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-12581000 | USD |
| CY2015 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-37631000 | USD |
| CY2013 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-73974000 | USD |
| CY2014 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-132675000 | USD |
| CY2015 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-82159000 | USD |
| CY2013 | us-gaap |
Net Income Loss
NetIncomeLoss
|
151423000 | USD |
| CY2014 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
82754000 | USD |
| CY2015Q4 | us-gaap |
Notes Receivable Related Parties
NotesReceivableRelatedParties
|
2500000 | USD |
| CY2015Q4 | us-gaap |
Notes Payable
NotesPayable
|
7025000 | USD |
| CY2014Q4 | us-gaap |
Notes Receivable Net
NotesReceivableNet
|
4288000 | USD |
| CY2015Q4 | us-gaap |
Notes Receivable Net
NotesReceivableNet
|
3153000 | USD |
| CY2014 | us-gaap |
Net Income Loss
NetIncomeLoss
|
50789000 | USD |
| CY2015 | us-gaap |
Net Income Loss
NetIncomeLoss
|
51763000 | USD |
| CY2013 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
145577000 | USD |
| CY2014Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
11413000 | USD |
| CY2014Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
12335000 | USD |
| CY2014Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
12399000 | USD |
| CY2014Q4 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
9767000 | USD |
| CY2014 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
45914000 | USD |
| CY2015Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
8349000 | USD |
| CY2015Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
12131000 | USD |
| CY2015Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
14352000 | USD |
| CY2015Q4 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
12056000 | USD |
| CY2015 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
46888000 | USD |
| CY2013 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
150695000 | USD |
| CY2014 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
49448000 | USD |
| CY2015 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
50408000 | USD |
| CY2014Q4 | us-gaap |
Notes Payable
NotesPayable
|
12153000 | USD |
| CY2015 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
14 | |
| CY2013 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
58693000 | USD |
| CY2015 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
111794000 | USD |
| CY2015Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
13000000 | USD |
| CY2015Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
4100000 | USD |
| CY2015Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
800000 | USD |
| CY2015Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
1300000 | USD |
| CY2015Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
2200000 | USD |
| CY2015Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
3300000 | USD |
| CY2015Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
1300000 | USD |
| CY2013 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
3700000 | USD |
| CY2014 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
4700000 | USD |
| CY2015 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
5300000 | USD |
| CY2014Q4 | us-gaap |
Other Assets
OtherAssets
|
37699000 | USD |
| CY2015Q4 | us-gaap |
Other Assets
OtherAssets
|
46142000 | USD |
| CY2014Q4 | us-gaap |
Other Liabilities
OtherLiabilities
|
79723000 | USD |
| CY2015Q4 | us-gaap |
Other Liabilities
OtherLiabilities
|
93670000 | USD |
| CY2014Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
2887000 | USD |
| CY2015Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
2190000 | USD |
| CY2014Q4 | us-gaap |
Other Long Term Debt
OtherLongTermDebt
|
14787000 | USD |
| CY2015Q4 | us-gaap |
Other Long Term Debt
OtherLongTermDebt
|
13517000 | USD |
| CY2014Q4 | us-gaap |
Other Notes Payable
OtherNotesPayable
|
9518000 | USD |
| CY2015Q4 | us-gaap |
Other Notes Payable
OtherNotesPayable
|
8441000 | USD |
| CY2013 | us-gaap |
Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
|
627509000 | USD |
| CY2014 | us-gaap |
Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
|
677418000 | USD |
| CY2015 | us-gaap |
Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
|
807986000 | USD |
| CY2013 | us-gaap |
Payments For Proceeds From Mortgage Servicing Rights
PaymentsForProceedsFromMortgageServicingRights
|
0 | USD |
| CY2014 | us-gaap |
Payments For Proceeds From Mortgage Servicing Rights
PaymentsForProceedsFromMortgageServicingRights
|
-4009000 | USD |
| CY2015 | us-gaap |
Payments For Proceeds From Mortgage Servicing Rights
PaymentsForProceedsFromMortgageServicingRights
|
-4726000 | USD |
| CY2013 | us-gaap |
Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
|
-50352000 | USD |
| CY2014 | us-gaap |
Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
|
0 | USD |
| CY2015 | us-gaap |
Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
|
0 | USD |
| CY2013 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
5501000 | USD |
| CY2014 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
2081000 | USD |
| CY2015 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
5818000 | USD |
| CY2013 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
-3656000 | USD |
| CY2014 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
-4875000 | USD |
| CY2015 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
-4875000 | USD |
| CY2013 | us-gaap |
Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
|
29509000 | USD |
| CY2014 | us-gaap |
Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
|
20415000 | USD |
| CY2015 | us-gaap |
Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
|
18162000 | USD |
| CY2013 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2382000 | USD |
| CY2014 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2946000 | USD |
| CY2015 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
3659000 | USD |
| CY2015 | us-gaap |
Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
|
0.0975 | |
| CY2013 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
3656000 | USD |
| CY2014 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
4875000 | USD |
| CY2015 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
4875000 | USD |
| CY2014Q4 | us-gaap |
Preferred Stock Including Additional Paid In Capital Net Of Discount
PreferredStockIncludingAdditionalPaidInCapitalNetOfDiscount
|
48163000 | USD |
| CY2015Q4 | us-gaap |
Preferred Stock Including Additional Paid In Capital Net Of Discount
PreferredStockIncludingAdditionalPaidInCapitalNetOfDiscount
|
48163000 | USD |
| CY2015Q4 | us-gaap |
Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
|
50000000 | USD |
| CY2014Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2015Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2013 | us-gaap |
Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
|
2190000 | USD |
| CY2014 | us-gaap |
Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
|
0 | USD |
| CY2015 | us-gaap |
Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
|
0 | USD |
| CY2015Q4 | us-gaap |
Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
|
609.375 | |
| CY2014Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
2000000 | shares |
| CY2015Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
2000000 | shares |
| CY2014Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
2000 | shares |
| CY2015Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
2000 | shares |
| CY2007Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
4000 | shares |
| CY2015Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
2000 | shares |
| CY2013 | us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
0 | USD |
| CY2014 | us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
192600000 | USD |
| CY2015 | us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
417300000 | USD |
| CY2013 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
86250000 | USD |
| CY2014 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
0 | USD |
| CY2014Q4 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
15296000 | USD |
| CY2015Q4 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
16740000 | USD |
| CY2015 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
0 | USD |
| CY2013 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
54617000 | USD |
| CY2014 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | USD |
| CY2015 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | USD |
| CY2015 | us-gaap |
Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
|
300000000 | USD |
| CY2013 | us-gaap |
Proceeds From Other Debt
ProceedsFromOtherDebt
|
0 | USD |
| CY2014 | us-gaap |
Proceeds From Other Debt
ProceedsFromOtherDebt
|
0 | USD |
| CY2015 | us-gaap |
Proceeds From Other Debt
ProceedsFromOtherDebt
|
300000000 | USD |
| CY2013 | us-gaap |
Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
|
-3315000 | USD |
| CY2014 | us-gaap |
Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
|
1728000 | USD |
| CY2015 | us-gaap |
Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
|
-1077000 | USD |
| CY2013 | us-gaap |
Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
|
12072000 | USD |
| CY2014 | us-gaap |
Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
|
5350000 | USD |
| CY2015 | us-gaap |
Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
|
38269000 | USD |
| CY2013 | us-gaap |
Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
|
614726000 | USD |
| CY2014 | us-gaap |
Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
|
669625000 | USD |
| CY2015 | us-gaap |
Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
|
773189000 | USD |
| CY2013 | us-gaap |
Proceeds From Sale Of Mortgage Servicing Rights Msr
ProceedsFromSaleOfMortgageServicingRightsMSR
|
0 | USD |
| CY2014 | us-gaap |
Proceeds From Sale Of Mortgage Servicing Rights Msr
ProceedsFromSaleOfMortgageServicingRightsMSR
|
2135000 | USD |
| CY2015 | us-gaap |
Proceeds From Sale Of Mortgage Servicing Rights Msr
ProceedsFromSaleOfMortgageServicingRightsMSR
|
3065000 | USD |
| CY2013 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
2640000 | USD |
| CY2014 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1944000 | USD |
| CY2015 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1035000 | USD |
| CY2012Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
10438000 | USD |
| CY2013Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
12291000 | USD |
| CY2014Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
12671000 | USD |
| CY2015Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
14282000 | USD |
| CY2013 | us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
-7564000 | USD |
| CY2014 | us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
-12154000 | USD |
| CY2015 | us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
-12361000 | USD |
| CY2013 | us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
|
2394000 | USD |
| CY2014 | us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
|
5223000 | USD |
| CY2015 | us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
|
5160000 | USD |
| CY2013 | us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
7023000 | USD |
| CY2014 | us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
7311000 | USD |
| CY2015 | us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
8812000 | USD |
| CY2013 | us-gaap |
Profit Loss
ProfitLoss
|
151423000 | USD |
| CY2014 | us-gaap |
Profit Loss
ProfitLoss
|
50789000 | USD |
| CY2015 | us-gaap |
Profit Loss
ProfitLoss
|
51763000 | USD |
| CY2014Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
36260000 | USD |
| CY2015Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
37601000 | USD |
| CY2014Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
11490000 | USD |
| CY2015Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
12897000 | USD |
| CY2012Q4 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
15376000 | USD |
| CY2013Q4 | us-gaap |
Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
|
13802000 | USD |
| CY2014Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
6951000 | USD |
| CY2015Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
2896000 | USD |
| CY2014Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
308539000 | USD |
| CY2015Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
355427000 | USD |
| CY2013 | us-gaap |
Revenues
Revenues
|
1036782000 | USD |
| CY2014 | us-gaap |
Revenues
Revenues
|
1215180000 | USD |
| CY2015 | us-gaap |
Revenues
Revenues
|
1418395000 | USD |
| CY2013 | us-gaap |
Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
|
2221000 | USD |
| CY2014 | us-gaap |
Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
|
1959000 | USD |
| CY2015 | us-gaap |
Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
|
2300000 | USD |
| CY2013 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
|
-15175000 | USD |
| CY2014 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
|
-16443000 | USD |
| CY2015 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
|
-16966000 | USD |
| CY2013 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
|
13601000 | USD |
| CY2014 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
|
17937000 | USD |
| CY2015 | us-gaap |
Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
|
18410000 | USD |
| CY2015 | us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
600000 | USD |
| CY2013 | us-gaap |
Repayments Of Bank Debt
RepaymentsOfBankDebt
|
0 | USD |
| CY2014 | us-gaap |
Repayments Of Bank Debt
RepaymentsOfBankDebt
|
-162600000 | USD |
| CY2015 | us-gaap |
Repayments Of Bank Debt
RepaymentsOfBankDebt
|
-403500000 | USD |
| CY2013 | us-gaap |
Repayments Of Other Debt
RepaymentsOfOtherDebt
|
0 | USD |
| CY2014 | us-gaap |
Repayments Of Other Debt
RepaymentsOfOtherDebt
|
0 | USD |
| CY2015 | us-gaap |
Repayments Of Other Debt
RepaymentsOfOtherDebt
|
226874000 | USD |
| CY2015 | us-gaap |
Repayments Of Senior Debt
RepaymentsOfSeniorDebt
|
-226874000 | USD |
| CY2013 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
1036782000 | USD |
| CY2014Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
234841000 | USD |
| CY2014Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
281608000 | USD |
| CY2014Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
330767000 | USD |
| CY2014Q4 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
367964000 | USD |
| CY2014 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
1215180000 | USD |
| CY2015Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
263159000 | USD |
| CY2015Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
322856000 | USD |
| CY2015Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
363457000 | USD |
| CY2015Q4 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
468923000 | USD |
| CY2015 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
1418395000 | USD |
| CY2014Q4 | us-gaap |
Secured Debt
SecuredDebt
|
4300000 | USD |
| CY2015Q4 | us-gaap |
Secured Debt
SecuredDebt
|
3900000 | USD |
| CY2014Q4 | us-gaap |
Self Insurance Reserve
SelfInsuranceReserve
|
1300000 | USD |
| CY2015Q4 | us-gaap |
Self Insurance Reserve
SelfInsuranceReserve
|
1600000 | USD |
| CY2013 | us-gaap |
Selling Expense
SellingExpense
|
68282000 | USD |
| CY2014 | us-gaap |
Selling Expense
SellingExpense
|
81148000 | USD |
| CY2015 | us-gaap |
Selling Expense
SellingExpense
|
95092000 | USD |
| CY2014Q4 | us-gaap |
Senior Notes
SeniorNotes
|
226099000 | USD |
| CY2015Q4 | us-gaap |
Senior Notes
SeniorNotes
|
294727000 | USD |
| CY2014 | us-gaap |
Servicing Asset At Fair Value Period Increase Decrease
ServicingAssetAtFairValuePeriodIncreaseDecrease
|
6876000 | USD |
| CY2015 | us-gaap |
Servicing Asset At Fair Value Period Increase Decrease
ServicingAssetAtFairValuePeriodIncreaseDecrease
|
7500000 | USD |
| CY2013 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2344000 | USD |
| CY2014 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3215000 | USD |
| CY2015 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3942000 | USD |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
|
2600000 | shares |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
982389 | shares |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1453728 | shares |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
22.19 | |
| CY2013 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
2200000 | USD |
| CY2014 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
1600000 | USD |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
700000 | USD |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
221600 | shares |
| CY2015 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
386500 | shares |
| CY2014Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
7470000 | USD |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
6300000 | USD |
| CY2014Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2016368 | shares |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2108628 | shares |
| CY2014Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
24.47 | |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
22.21 | |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
6544000 | USD |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
2084208 | shares |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
22.07 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
14.24 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
43.78 | |
| CY2015 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
21.28 | |
| CY2015Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
5884000 | USD |
| CY2014 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P5Y8M15D | |
| CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P5Y9M29D | |
| CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P5Y8M19D | |
| CY2015 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
|
P4Y7M24D | |
| CY2007Q1 | us-gaap |
Shares Issued
SharesIssued
|
4000000 | shares |
| CY2015Q4 | us-gaap |
Short Term Non Bank Loans And Notes Payable
ShortTermNonBankLoansAndNotesPayable
|
2100000 | USD |
| CY2014Q4 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
12700000 | USD |
| CY2015Q4 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
14300000 | USD |
| CY2015 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
-72640 | shares |
| CY2013 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
2640000 | USD |
| CY2014 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
1944000 | USD |
| CY2015 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
1035000 | USD |
| CY2013 | us-gaap |
Stock Option Plan Expense
StockOptionPlanExpense
|
300000 | USD |
| CY2014 | us-gaap |
Stock Option Plan Expense
StockOptionPlanExpense
|
200000 | USD |
| CY2015 | us-gaap |
Stock Option Plan Expense
StockOptionPlanExpense
|
0 | USD |
| CY2013 | us-gaap |
Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
|
-50352000 | USD |
| CY2014Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
544295000 | USD |
| CY2015Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
596566000 | USD |
| CY2012Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
335428000 | USD |
| CY2013Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
492803000 | USD |
| CY2014Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
544295000 | USD |
| CY2015Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
596566000 | USD |
| CY2014Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | USD |
| CY2014Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
2579813 | shares |
| CY2015Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
2443679 | shares |
| CY2014Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
51238000 | USD |
| CY2015Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
48534000 | USD |
| CY2013Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | USD |
| CY2014Q4 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24489000 | shares |
| CY2014 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24463000 | shares |
| CY2013 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
23822000 | shares |
| CY2014Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24417000 | shares |
| CY2014Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24470000 | shares |
| CY2014Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24474000 | shares |
| CY2015Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | USD |
| CY2013 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
126458000 | USD |
| CY2014 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
9291000 | USD |
| CY2015 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
0 | USD |
| CY2014Q4 | us-gaap |
Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
|
85400000 | USD |
| CY2014Q4 | us-gaap |
Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
|
85379000 | USD |
| CY2015Q4 | us-gaap |
Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
|
123648000 | USD |
| CY2015Q4 | us-gaap |
Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
|
123600000 | USD |
| CY2013 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
28763000 | shares |
| CY2014Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
29870000 | shares |
| CY2014Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
29913000 | shares |
| CY2014Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
29921000 | shares |
| CY2014Q4 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
29944000 | shares |
| CY2014 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
29912000 | shares |
| CY2015Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
29975000 | shares |
| CY2015Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
30023000 | shares |
| CY2015Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
30067000 | shares |
| CY2015Q4 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
30107000 | shares |
| CY2015 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
30047000 | shares |
| CY2015Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24514000 | shares |
| CY2015Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24531000 | shares |
| CY2015Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24605000 | shares |
| CY2015Q4 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24649000 | shares |
| CY2015 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24575000 | shares |
| CY2015 | us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Summary of Significant Accounting Policies</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Business.</font><font style="font-family:inherit;font-size:10pt;">  M/I Homes, Inc. and its subsidiaries (the “Company” or “we”) is engaged primarily in the construction and sale of single-family residential property in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Tampa and Orlando, Florida; Austin, Dallas/Fort Worth, Houston and San Antonio, Texas; Charlotte and Raleigh, North Carolina; and the Virginia and Maryland suburbs of Washington, D.C.  The Company designs, sells and builds single-family homes on developed lots, which it develops or purchases ready for home construction.  The Company also purchases undeveloped land to develop into developed lots for future construction of single-family homes and, on a limited basis, for sale to others.  Our homebuilding operations operate across three geographic regions in the United States.  Within these regions, our operations have similar economic characteristics; therefore, they have been aggregated into three reportable homebuilding segments: Midwest homebuilding, Southern homebuilding and Mid-Atlantic homebuilding.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company conducts mortgage financing activities through its 100%-owned subsidiary, M/I Financial, LLC (“M/I Financial”), which originates mortgage loans primarily for purchasers of the Company’s homes.  The loans and the servicing rights are generally sold to outside mortgage lenders.  The Company and M/I Financial also operate 100% and majority-owned subsidiaries that provide title services to purchasers of the Company’s homes.  Our mortgage banking and title service activities have similar economic characteristics; therefore, they have been aggregated into one reportable segment, the financial services segment. </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Basis of Presentation. </font><font style="font-family:inherit;font-size:10pt;">The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and include the accounts of M/I Homes, Inc. and those of our consolidated subsidiaries, partnerships and other entities in which we have a controlling financial interest, and of variable interest entities in which we are deemed the primary beneficiary (collectively, “us”, “we”, “our” and the “Company”). Intercompany balances and transactions have been eliminated in consolidation.  The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Cash and Cash Equivalents.</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">  </font><font style="font-family:inherit;font-size:10pt;">Liquid investments with an initial maturity of three months or less are classified as cash and cash equivalents. Amounts in transit from title companies for homes delivered of approximately </font><font style="font-family:inherit;font-size:10pt;">$8.4 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$7.5 million</font><font style="font-family:inherit;font-size:10pt;"> are included in cash and cash equivalents at </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015 and 2014</font><font style="font-family:inherit;font-size:10pt;">, respectively. Our financial services operations held </font><font style="font-family:inherit;font-size:10pt;">$18.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$11.7 million</font><font style="font-family:inherit;font-size:10pt;"> of the Company’s cash and cash equivalents at </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015 and 2014</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Restricted Cash. </font><font style="font-family:inherit;font-size:10pt;"> At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015 and 2014</font><font style="font-family:inherit;font-size:10pt;">, restricted cash consists primarily of amounts held in restricted accounts as collateral for letters of credit of </font><font style="font-family:inherit;font-size:10pt;">$2.9 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$7.0 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Mortgage Loans Held for Sale.</font><font style="font-family:inherit;font-size:10pt;">  Mortgage loans held for sale consists primarily of single-family residential loans collateralized by the underlying property.  Generally, all of the mortgage loans and related servicing rights are sold to third-party investors shortly after origination.  Refer to the Revenue Recognition policy described below for additional discussion.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Inventory.</font><font style="font-family:inherit;font-size:10pt;">  Inventory includes the costs of land acquisition, land development and home construction, capitalized interest, real estate taxes, direct overhead costs incurred during development and home construction, and common costs that benefit the entire community, less impairments, if any. Land acquisition, land development and common costs (both incurred and estimated to be incurred) are typically allocated to individual lots based on the total number of lots expected to be closed in each community or phase, or based on the relative fair value, the relative sales value or the front footage method of each lot. Any changes to the estimated total development costs of a community or phase are allocated proportionately to homes remaining in the community or phase and homes previously closed. The cost of individual lots is transferred to homes under construction when home construction begins. Home construction costs are accumulated on a specific identification basis. Costs of home deliveries include the specific construction cost of the home and the allocated lot costs. Such costs are charged to cost of sales simultaneously with revenue recognition, as discussed above. When a home is closed, we typically have not yet paid all incurred costs necessary to complete the home. As homes close, we compare the home construction budget to actual recorded costs to date to estimate the additional costs to be incurred from our subcontractors related to the home. We record a liability and a corresponding charge to cost of sales for the amount we estimate will ultimately be paid related to that home. We monitor the accuracy of such estimates by comparing actual costs incurred in subsequent months to the estimate, although actual costs to complete a home in the future could differ from our estimates.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Inventory is recorded at cost, unless events and circumstances indicate that the carrying value of the land is impaired, at which point the inventory is written down to fair value as required by the FASB Accounting Standards Codification (“ASC”) 360-10, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Property, Plant and Equipment </font><font style="font-family:inherit;font-size:10pt;">(“ASC 360”).  The Company assesses inventory for recoverability on a quarterly basis if events or changes in local or national economic conditions indicate that the carrying amount of an asset may not be recoverable. In conducting our quarterly review for indicators of impairment on a community level, we evaluate, among other things, margins on sales contracts in backlog, the margins on homes that have been delivered, expected changes in margins with regard to future home sales over the life of the community, expected changes in margins with regard to future land sales, the value of the land itself as well as any results from third party appraisals. We pay particular attention to communities in which inventory is moving at a slower than anticipated absorption pace, and communities whose average sales price and/or margins are trending downward and are anticipated to continue to trend downward. We also evaluate communities where management intends to lower the sales price or offer incentives in order to improve absorptions even if the community’s historical results do not indicate a potential for impairment. From the review of all of these factors, we identify communities whose carrying values may exceed their estimated undiscounted future cash flows and run a test for recoverability. For those communities whose carrying values exceed the estimated undiscounted future cash flows and which are deemed to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the communities exceeds the estimated fair value. Due to the fact that the Company’s cash flow models and estimates of fair values are based upon management estimates and assumptions, unexpected changes in market conditions and/or changes in management’s intentions with respect to the inventory may lead the Company to incur additional impairment charges in the future.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our determination of fair value is based on projections and estimates, which are Level 3 measurement inputs.  Because each inventory asset is unique, there are numerous inputs and assumptions used in our valuation techniques, including estimated average selling price, construction and development costs, absorption pace (reflecting any product mix change strategies implemented or to be implemented), selling strategies, alternative land uses (including disposition of all or a portion of the land owned), or discount rates, which could materially impact future cash flow and fair value estimates. </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;">, our projections generally assume a gradual improvement in market conditions over time. If communities are not recoverable based on estimated future undiscounted cash flows, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. The fair value of a community is estimated by discounting management’s cash flow projections using an appropriate risk-adjusted interest rate. As of both </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;">, we utilized discount rates ranging from </font><font style="font-family:inherit;font-size:10pt;">13%</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">16%</font><font style="font-family:inherit;font-size:10pt;"> in our valuations. The discount rate used in determining each asset’s estimated fair value reflects the inherent risks associated with the related estimated cash flow stream, as well as current risk-free rates available in the market and estimated market risk premiums. For example, construction in progress inventory, which is closer to completion, will generally require a lower discount rate than land under development in communities consisting of multiple phases spanning several years of development.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our quarterly assessments reflect management’s best estimates. Due to the inherent uncertainties in management’s estimates and uncertainties related to our operations and our industry as a whole, we are unable to determine at this time if and to what extent continuing future impairments will occur. Additionally, due to the volume of possible outcomes that can be generated from changes in the various model inputs for each community, we do not believe it is possible to create a sensitivity analysis that can provide meaningful information for the users of our financial statements. Further details relating to our assessment of inventory for recoverability are included in </font><a style="font-family:inherit;font-size:10pt;" href="#s7E480D5CFADBE106E80EA47D46D8647A"><font style="font-family:inherit;font-size:10pt;">Note 3</font></a><font style="font-family:inherit;font-size:10pt;"> to our Consolidated Financial Statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Capitalized Interest.</font><font style="font-family:inherit;font-size:10pt;">  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.  The summary of capitalized interest for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">years ended December 31, 2015, 2014 and 2013</font><font style="font-family:inherit;font-size:10pt;"> is as follows:</font></div><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="12" rowspan="1"></td></tr><tr><td width="65%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="9%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="9%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="9%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Year Ended December 31,</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(In thousands)</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2014</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2013</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Capitalized interest, beginning of period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">15,296</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13,802</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">15,376</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Interest capitalized to inventory</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">18,410</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">17,937</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13,601</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Capitalized interest charged to cost of sales</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(16,966</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(16,443</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(15,175</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Capitalized interest, end of year</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">16,740</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">15,296</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13,802</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Interest incurred</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">35,931</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">31,302</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">29,539</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Investment in Unconsolidated Joint Ventures.</font><font style="font-family:inherit;font-size:10pt;"> In order to minimize our investment and risk of land exposure in a single location, we have periodically partnered with other land developers or homebuilders to share in the land investment and development of a property through joint ownership and development agreements, joint ventures, and other similar arrangements. During </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">, we increased our total investment in such joint venture arrangements by </font><font style="font-family:inherit;font-size:10pt;">$9.2 million</font><font style="font-family:inherit;font-size:10pt;"> from </font><font style="font-family:inherit;font-size:10pt;">$27.8 million</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">$37.0 million</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;">, which was driven primarily by our increased cash contributions to our unconsolidated joint ventures of </font><font style="font-family:inherit;font-size:10pt;">$18.2 million</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">, offset partially by our increased lot distributions from unconsolidated joint ventures during </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;"> of </font><font style="font-family:inherit;font-size:10pt;">$8.2 million</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We use the equity method of accounting for investments in unconsolidated joint ventures over which we exercise significant influence but do not have a controlling interest. Under the equity method, our share of the unconsolidated joint ventures’ earnings or loss, if any, is included in our Consolidated Statements of Income. The Company assesses its investments in unconsolidated joint ventures for recoverability on a quarterly basis in accordance with ASC 323, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Investments - Equity Method and Joint Ventures </font><font style="font-family:inherit;font-size:10pt;">(“ASC 323”)</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font><font style="font-family:inherit;font-size:10pt;">as described below.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">If the fair value of the investment is less than the investment’s carrying value, and the Company has determined that the decline in value is other than temporary, the Company would write down the value of the investment to its estimated fair value. The determination of whether an investment’s fair value is less than the carrying value requires management to make certain assumptions regarding the amount and timing of future contributions to the unconsolidated joint venture, the timing of distribution of lots to the Company from the unconsolidated joint venture, the projected fair value of the lots at the time of distribution to the Company, and the estimated proceeds from, and timing of, the sale of land or lots to third parties. In determining the fair value of investments in unconsolidated joint ventures, the Company evaluates the projected cash flows associated with each unconsolidated joint venture.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of both </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;">, the Company used a discount rate of </font><font style="font-family:inherit;font-size:10pt;">16%</font><font style="font-family:inherit;font-size:10pt;"> in determining the fair value of investments in unconsolidated joint ventures. In addition to the assumptions management must make to determine if the investment’s fair value is less than the carrying value, management must also use judgment in determining whether the impairment is other than temporary. The factors management considers are: (1) the length of time and the extent to which the market value has been less than cost; (2) the financial condition and near-term prospects of the company; and (3) the intent and ability of the Company to retain its investment in the unconsolidated joint venture for a period of time sufficient to allow for any anticipated recovery in market value. Due to uncertainties in the estimation process and the significant volatility in demand for new housing, actual results could differ significantly from such estimates.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For joint venture arrangements where a special purpose entity is established to own the property, we generally enter into limited liability company or similar arrangements (“LLCs”) with the other partners. The Company’s ownership in these LLCs as of </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;"> ranged from </font><font style="font-family:inherit;font-size:10pt;">25%</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">74%</font><font style="font-family:inherit;font-size:10pt;"> and as of </font><font style="font-family:inherit;font-size:10pt;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;"> ranged from </font><font style="font-family:inherit;font-size:10pt;">25%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">61%</font><font style="font-family:inherit;font-size:10pt;">. These entities typically engage in land development activities for the purpose of distributing or selling developed lots to the Company and its partners in the LLC.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We believe that the Company’s maximum exposure related to its investment in these unconsolidated joint ventures as of </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;"> is the amount invested of </font><font style="font-family:inherit;font-size:10pt;">$37.0 million</font><font style="font-family:inherit;font-size:10pt;"> (in addition to a </font><font style="font-family:inherit;font-size:10pt;">$2.5 million</font><font style="font-family:inherit;font-size:10pt;"> note due to the Company from one of the unconsolidated joint ventures), although we expect to invest further amounts in these unconsolidated joint ventures as development of the properties progresses. Further details relating to our unconsolidated joint ventures are included in </font><a style="font-family:inherit;font-size:10pt;" href="#s6A33336C6A09C067DB0EA47D47336F15"><font style="font-family:inherit;font-size:10pt;">Note 6</font></a><font style="font-family:inherit;font-size:10pt;"> to our Consolidated Financial Statements.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Variable Interest Entities. </font><font style="font-family:inherit;font-size:10pt;">With respect to our investments in these LLCs, we are required, under ASC 810-10, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Consolidation</font><font style="font-family:inherit;font-size:10pt;"> (“ASC 810”), to evaluate whether or not such entities should be consolidated into our financial statements. We initially perform these evaluations when each new entity is created and upon any events that require reconsideration of the entity. In order to determine if we should consolidate an LLC, we determine (1) if the LLC is a variable interest entity (“VIE”) and (2) if we are the primary beneficiary of the entity. To determine whether we are the primary beneficiary of an entity, we consider whether we have the ability to control the activities of the VIE that most significantly impact its economic performance. This analysis considers, among other things, whether we have the ability to determine the budget and scope of land development work, if any; the ability to control financing decisions for the VIE; the ability to acquire additional land into the VIE or dispose of land in the VIE not under contract with M/I Homes; and the ability to change or amend the existing option contract with the VIE. If we determine that we are not able to control such activities, we are not considered the primary beneficiary of the VIE.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;">, we have determined that one of the LLCs in which we have an interest meets the requirements of a VIE due to a lack of equity at risk in the entity. However, we have determined that we do not have substantive control over that VIE as we do not have the ability to control the activities that most significantly impact its economic performance. As a result, we are not required to consolidate the VIE into our financial statements, and we instead record the VIE in Investment in Unconsolidated Joint Ventures on our Consolidated Balance Sheets.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Land Option Agreements. </font><font style="font-family:inherit;font-size:10pt;">In the ordinary course of business, the Company enters into land option or purchase agreements for which we generally pay non-refundable deposits. Pursuant to these land option agreements, the Company provides a deposit to the seller as consideration for the right to purchase land at different times in the future, usually at predetermined prices. In accordance with ASC 810, we analyze our land option or purchase agreements to determine whether the corresponding land sellers are VIEs and, if so, whether we are the primary beneficiary, using an analysis similar to that described above. Although we do not have legal title to the optioned land, ASC 810 requires a company to consolidate a VIE if the company is determined to be the primary beneficiary. In cases where we are the primary beneficiary, even though we do not have title to such land, we are required to consolidate these purchase/option agreements and reflect such assets and liabilities as Consolidated Inventory not Owned in our Consolidated Balance Sheets. At both </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015 and 2014</font><font style="font-family:inherit;font-size:10pt;">, we have concluded that we were not the primary beneficiary of any VIEs from which we are purchasing under land option or purchase agreements. Other than as described above in “Consolidated Inventory Not Owned,” the Company currently believes that its maximum exposure as of </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;"> related to our land option agreements is equal to the amount of the Company’s outstanding deposits and prepaid acquisition costs, which totaled </font><font style="font-family:inherit;font-size:10pt;">$36.4 million</font><font style="font-family:inherit;font-size:10pt;">, including cash deposits of </font><font style="font-family:inherit;font-size:10pt;">$23.7 million</font><font style="font-family:inherit;font-size:10pt;">, prepaid acquisition costs of </font><font style="font-family:inherit;font-size:10pt;">$4.1 million</font><font style="font-family:inherit;font-size:10pt;">, letters of credit of </font><font style="font-family:inherit;font-size:10pt;">$6.5 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$2.1 million</font><font style="font-family:inherit;font-size:10pt;"> of other non-cash deposits.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Consolidated Inventory Not Owned and Related Obligation</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">. </font><font style="font-family:inherit;font-size:10pt;">At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;">, Consolidated Inventory Not Owned was </font><font style="font-family:inherit;font-size:10pt;">$6.0 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$0.8 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015 and 2014</font><font style="font-family:inherit;font-size:10pt;">, the corresponding liability of </font><font style="font-family:inherit;font-size:10pt;">$6.0 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$0.6 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, has been classified as Obligation for Consolidated Inventory Not Owned on the Consolidated Balance Sheets. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Property and Equipment-net.</font><font style="font-family:inherit;font-size:10pt;"> The Company records property and equipment at cost and subsequently depreciates the assets using both straight-line and accelerated methods.  Following are the major classes of depreciable assets and their estimated useful lives:</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td width="74%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="10%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="2%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="10%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:6pt;"><font style="font-family:inherit;font-size:6pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Year Ended December 31,</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:6pt;"><font style="font-family:inherit;font-size:6pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2014</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Land, building and improvements</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">11,823</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">11,823</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Office furnishings, leasehold improvements, computer equipment and computer software</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">25,676</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">24,281</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Transportation and construction equipment</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">102</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">156</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Property and equipment</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">37,601</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">36,260</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Accumulated depreciation</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(24,704</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(24,771</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Property and equipment, net</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">12,897</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">11,490</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td width="78%" rowspan="1" colspan="1"></td><td width="22%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:6pt;"><font style="font-family:inherit;font-size:6pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Estimated Useful Lives</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Building and improvements</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">35 years</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Office furnishings, leasehold improvements, computer equipment and computer software</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3-7 years</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Transportation and construction equipment</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5-7 years</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:13px;padding-top:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation expense was </font><font style="font-family:inherit;font-size:10pt;">$2.3 million</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$2.0 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$2.2 million</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">2015, 2014 and 2013</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Notes Receivable. </font><font style="font-family:inherit;font-size:10pt;">In certain instances, we may accept consideration for land sales or other transactions in the form of a note receivable. The counterparties for these transactions are generally land developers, other real estate investors or, in some cases, affiliated unconsolidated LLCs. We consider the creditworthiness of the counterparty when evaluating the relative risk and return involved in pursuing the applicable transaction. Due to the unique facts and circumstances surrounding each receivable, we assess the need for an allowance on an individual basis. Factors considered as part of this assessment include the counterparty’s payment history, the value of any underlying collateral, communications with the counterparty, knowledge of the counterparty’s financial condition and plans, and the current and expected economic environment. Such receivables are reported net of allowance for credit losses within other assets. Such receivables are generally reported in Other Assets in our Consolidated Balance Sheets. At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;">, Other Assets included notes receivable totaling </font><font style="font-family:inherit;font-size:10pt;">$3.2 million</font><font style="font-family:inherit;font-size:10pt;"> with interest rates of </font><font style="font-family:inherit;font-size:10pt;">0%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2%</font><font style="font-family:inherit;font-size:10pt;"> and maturities from </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">. At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;">, Other Assets included notes receivable totaling </font><font style="font-family:inherit;font-size:10pt;">$4.3 million</font><font style="font-family:inherit;font-size:10pt;">, with interest rates ranging from </font><font style="font-family:inherit;font-size:10pt;">0%</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">12%</font><font style="font-family:inherit;font-size:10pt;">, and maturities from 2015 to 2016. With respect to the balance at both </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015 and 2014</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$2.5 million</font><font style="font-family:inherit;font-size:10pt;"> was from an affiliated unconsolidated joint venture.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Deferred Costs. </font><font style="font-family:inherit;font-size:10pt;">At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015 and 2014</font><font style="font-family:inherit;font-size:10pt;">, unamortized debt issue costs of </font><font style="font-family:inherit;font-size:10pt;">$2.6 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$3.1 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, are included in Other Assets on the Consolidated Balance Sheets. The costs are primarily amortized to interest expense using the straight line method, which approximates the effective interest method.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Other Assets.</font><font style="font-family:inherit;font-size:10pt;">  In addition to notes receivable and deferred costs described above, other assets include assets related to mortgage servicing rights, deposits, pre-acquisition costs for land and prepaid expenses for our insurance programs and other business related items.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Warranty Reserves. </font><font style="font-family:inherit;font-size:10pt;"> We use subcontractors for nearly all aspects of home construction. Although our subcontractors are generally required to repair and replace any product or labor defects, we are, during applicable warranty periods, ultimately responsible to the homeowner for making such repairs. As such, we record warranty reserves to cover our exposure to the costs for materials and labor not expected to be covered by our subcontractors to the extent they relate to warranty-type claims. Warranty reserves are established by charging cost of sales and crediting a warranty reserve for each home closed.  The amounts charged are estimated by management to be adequate to cover expected warranty-related costs described above under the Company’s warranty programs. Reserves are recorded for warranties under the following warranty programs:</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Home Builder’s Limited Warranty (“HBLW”); and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:13px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30, 15 or 10-year transferable structural warranty, depending on sales date and state.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The warranty reserves for the HBLW are established as a percentage of average sales price and adjusted based on historical payment patterns determined, generally, by geographic area and recent trends. Factors that are given consideration in determining the HBLW reserves include: (1) the historical range of amounts paid per average sales price on a home; (2) type and mix of amenity packages added to the home; (3) any warranty expenditures not considered to be normal and recurring; (4) timing of payments; (5) improvements in quality of construction expected to impact future warranty expenditures; and (6) conditions that may affect certain projects and require a different percentage of average sales price for those specific projects. Changes in estimates for warranties occur due to changes in the historical payment experience and differences between the actual payment pattern experienced during the period and the historical payment pattern used in our evaluation of the warranty reserve balance at the end of each quarter. Actual future warranty costs could differ from our current estimated amount.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our warranty reserves for our transferable structural warranty programs are established on a per-unit basis. While the structural warranty reserve is recorded as each house closes, the sufficiency of the structural warranty per unit charge and total reserve is re-evaluated on an annual basis, with the assistance of an actuary, using our own historical data and trends, industry-wide historical data and trends, and other project specific factors. The reserves are also evaluated quarterly and adjusted if we encounter activity that is inconsistent with the historical experience used in the annual analysis. These reserves are subject to variability due to uncertainties regarding structural defect claims for products we build, the markets in which we build, claim settlement history, insurance and legal interpretations, among other factors.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">While we believe that our warranty reserves are sufficient to cover our projected costs, there can be no assurances that historical data and trends will accurately predict our actual warranty costs. At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015 and 2014</font><font style="font-family:inherit;font-size:10pt;">, warranty reserves of </font><font style="font-family:inherit;font-size:10pt;">$14.3 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$12.7 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, are included in Other Liabilities on the Consolidated Balance Sheets.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Self-insurance Reserves.</font><font style="font-family:inherit;font-size:10pt;"> Self-insurance reserves are made for estimated liabilities associated with employee health care, workers’ compensation, and general liability insurance. For </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">, our self-insurance limit for employee health care was </font><font style="font-family:inherit;font-size:10pt;">$250,000</font><font style="font-family:inherit;font-size:10pt;"> per claim per year, with stop loss insurance covering amounts in excess of </font><font style="font-family:inherit;font-size:10pt;">$250,000</font><font style="font-family:inherit;font-size:10pt;">. Our workers’ compensation claims are insured by a third party and carry a deductible of </font><font style="font-family:inherit;font-size:10pt;">$250,000</font><font style="font-family:inherit;font-size:10pt;"> per claim, except for workers compensation claims made in the State of Ohio where the Company is self-insured. Our self-insurance limit for Ohio workers’ compensation is </font><font style="font-family:inherit;font-size:10pt;">$500,000</font><font style="font-family:inherit;font-size:10pt;"> per claim, with stop loss insurance covering all amounts in excess of this limit. The reserves related to employee health care and workers’ compensation are based on historical experience and open case reserves. Our general liability claims are insured by a third party. The Company generally has a </font><font style="font-family:inherit;font-size:10pt;">$7.5 million</font><font style="font-family:inherit;font-size:10pt;"> completed operations/construction defect deductible per occurrence by region and a </font><font style="font-family:inherit;font-size:10pt;">$22.0 million</font><font style="font-family:inherit;font-size:10pt;"> deductible in the aggregate, with a </font><font style="font-family:inherit;font-size:10pt;">$500,000</font><font style="font-family:inherit;font-size:10pt;"> deductible for all other types of claims. The Company records a reserve for general liability claims falling below the Company’s deductible. The reserve estimate is based on an actuarial evaluation of our past history of general liability claims, other industry specific factors and specific event analysis. At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015 and 2014</font><font style="font-family:inherit;font-size:10pt;">, self-insurance reserves of </font><font style="font-family:inherit;font-size:10pt;">$1.6 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1.3 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, are included in Other Liabilities on the Consolidated Balance Sheets. The Company recorded expenses totaling </font><font style="font-family:inherit;font-size:10pt;">$6.1 million</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$7.8 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$5.4 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, for all self-insured and general liability claims during the </font><font style="font-family:inherit;font-size:10pt;">years ended December 31, 2015, 2014 and 2013</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Guarantees and Indemnities. </font><font style="font-family:inherit;font-size:10pt;">Guarantee and indemnity liabilities are established by charging the applicable income statement or balance sheet line, depending on the nature of the guarantee or indemnity, and crediting a liability.  M/I Financial provides a limited-life guarantee on loans sold to certain third parties and estimates its actual liability related to the guarantee and any indemnities subsequently provided to the purchaser of the loans in lieu of loan repurchase based on historical loss experience.  Actual future costs associated with loans guaranteed or indemnified could differ materially from our current estimated amounts.  The Company has also provided certain other guarantees and indemnities in connection with the purchase and development of land, including environmental indemnities, and guarantees of the completion of land development.  The Company estimates these liabilities based on the estimated cost of insurance coverage or estimated cost of acquiring a bond in the amount of the exposure.  Actual future costs associated with these guarantees and indemnities could differ materially from our current estimated amounts. At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015 and 2014</font><font style="font-family:inherit;font-size:10pt;">, guarantees and indemnities of </font><font style="font-family:inherit;font-size:10pt;">$1.4 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$3.1 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, are included in Other Liabilities on the Consolidated Balance Sheets.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Other Liabilities.</font><font style="font-family:inherit;font-size:10pt;">  In addition to warranty, self-insurance reserves, and reserves for guarantees and indemnities, other liabilities includes taxes payable, accrued compensation, and various other land related and miscellaneous accrued expenses.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Segment Reporting. </font><font style="font-family:inherit;font-size:10pt;">The application of segment reporting requires significant judgment in determining our operating segments. Operating segments are defined as a component of an enterprise for which discrete financial information is available and is reviewed regularly by the Company’s chief operating decision makers to evaluate performance, make operating decisions and determine how to allocate resources.  The Company’s chief operating decision makers evaluate the Company’s performance in various ways, including: (1) the results of our </font><font style="font-family:inherit;font-size:10pt;">14</font><font style="font-family:inherit;font-size:10pt;"> individual homebuilding operating segments and the results of our financial services operations; (2) the results of our three homebuilding regions; and (3) our consolidated financial results.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with ASC 280, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Segment Reporting</font><font style="font-family:inherit;font-size:10pt;"> (“ASC 280”), we have identified each homebuilding division as an operating segment as each homebuilding division engages in business activities from which it earns revenue, primarily from the sale and construction of single-family attached and detached homes, acquisition and development of land, and the occasional sale of lots to third parties. Our financial services operations generate revenue primarily from the origination, sale and servicing of mortgage loans and title services primarily for purchasers of the Company’s homes and are included in our financial services reportable segment. Corporate is a non-operating segment that develops and implements strategic initiatives and supports our operating segments by centralizing key administrative functions such as accounting, finance, treasury, information technology, insurance and risk management, litigation, marketing and human resources.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with the aggregation criteria defined in ASC 280, we have determined our reportable segments as follows: Midwest homebuilding, Southern homebuilding, Mid-Atlantic homebuilding and financial services operations.  The homebuilding operating segments included in each reportable segment have been aggregated because they share similar aggregation characteristics as prescribed in ASC 280 in the following regards: (1) long-term economic characteristics; (2) historical and expected future long-term gross margin percentages; (3) housing products, production processes and methods of distribution; and (4) geographical proximity. We may, however, be required to reclassify our reportable segments if markets that currently are being aggregated do not continue to share these aggregation characteristics.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Revenue Recognition.</font><font style="font-family:inherit;font-size:10pt;">  Revenue from the sale of a home is recognized when the delivery has occurred, title has passed, the risks and rewards of ownership are transferred to the buyer, and an adequate initial and continuing investment by the homebuyer is received, or when the loan has been sold to a third-party investor. Revenue for homes that close to the buyer having a down payment of 5% or greater, home deliveries financed by third parties, and all home deliveries insured under Federal Housing Administration (“FHA”), U.S. Veterans Administration (“VA”) and other government-insured programs are recorded in the financial statements on the date of closing.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenue related to all other home deliveries initially funded by M/I Financial, our 100%-owned subsidiary, is recorded on the date that M/I Financial sells the loan to a third-party investor, because the receivable from the third-party investor is not subject to future subordination, and the Company has transferred to this investor the usual risks and rewards of ownership that is in substance a sale and does not have a substantial continuing involvement with the home.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We recognize the majority of the revenue associated with our mortgage loan operations when the mortgage loans are sold and/or related servicing rights are sold to third party investors or set up with the subservicer. The revenue recognized is reduced by the fair value of the related guarantee provided to the investor. The fair value of the guarantee is recognized in revenue when the Company is released from its obligation under the guarantee. Generally, all of the financial services mortgage loans and related servicing rights are sold to third party investors within two to three weeks of origination; however, M/I Financial began retaining a portion of mortgage loan servicing rights during 2012. As of </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015 and 2014</font><font style="font-family:inherit;font-size:10pt;">, we retained mortgage servicing rights of </font><font style="font-family:inherit;font-size:10pt;">2,818</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2,517</font><font style="font-family:inherit;font-size:10pt;"> loans, respectively, for a total value of </font><font style="font-family:inherit;font-size:10pt;">$7.5 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$6.9 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. We recognize financial services revenue associated with our title operations as homes are closed, closing services are rendered, and title policies are issued, all of which generally occur simultaneously as each home is closed. All of the underwriting risk associated with title insurance policies is transferred to third-party insurers.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Land and Housing Cost of Sales. </font><font style="font-family:inherit;font-size:10pt;">All associated homebuilding costs are charged to cost of sales in the period when the revenues from home deliveries are recognized. Homebuilding costs include: land and land development costs; home construction costs (including an estimate of the costs to complete construction); previously capitalized interest; real estate taxes; indirect costs; and estimated warranty costs. All other costs are expensed as incurred. Sales incentives, including pricing discounts and financing costs paid by the Company, are recorded as a reduction of revenue in the Company’s Consolidated Statements of Income. Sales incentives in the form of options or upgrades are recorded in homebuilding costs.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Income Taxes. </font><font style="font-family:inherit;font-size:10pt;">The Company records income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized based on future tax consequences attributable to (1) temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and (2) operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect in the years in which those temporary differences are expected to reverse.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with ASC 740-10, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes </font><font style="font-family:inherit;font-size:10pt;">(“ASC 740”)</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">,</font><font style="font-family:inherit;font-size:10pt;"> we evaluate the realizability of our deferred tax assets, including the benefit from net operating losses (“NOLs”) and tax credit carryforwards, to determine if a valuation allowance is required based on whether it is more likely than not (a likelihood of more than 50%) that all or any portion of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is primarily dependent upon the generation of future taxable income. In determining the future tax consequences of events that have been recognized in the financial statements or tax returns, judgment is required. This assessment gives appropriate consideration to all positive and negative evidence related to the realization of the deferred tax assets and considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the length of statutory carryforward periods, our experience with operating losses and our experience of utilizing tax credit carryforwards and tax planning alternatives. Please see </font><a style="font-family:inherit;font-size:10pt;" href="#sAD942902145146BF0D99A47D47998638"><font style="font-family:inherit;font-size:10pt;">Note 14</font></a><font style="font-family:inherit;font-size:10pt;"> to our Consolidated Financial Statements for more information regarding our deferred tax assets.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Earnings Per Share.</font><font style="font-family:inherit;font-size:10pt;">  The Company computes earnings per share in accordance with ASC 260, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Earnings per Share</font><font style="font-family:inherit;font-size:10pt;">, (“ASC 260”). Basic earnings per share is calculated by dividing income attributable to common shareholders by the weighted average number of common shares outstanding during each year. Diluted earnings per share gives effect to the potential dilution that could occur if securities or contracts to issue our common shares that are dilutive were exercised or converted into common shares or resulted in the issuance of common shares that then shared our earnings. In periods of net losses, no dilution is computed. Please see </font><a style="font-family:inherit;font-size:10pt;" href="#s870B57D5B28FF465B9FCA47D4783545A"><font style="font-family:inherit;font-size:10pt;">Note 13</font></a><font style="font-family:inherit;font-size:10pt;"> to our Consolidated Financial Statements for more information regarding our earnings per share calculation.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Stock-Based Compensation.  </font><font style="font-family:inherit;font-size:10pt;">We measure and recognize compensation expense associated with our grant of equity-based awards in accordance with ASC 718, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Compensation-Stock Compensation </font><font style="font-family:inherit;font-size:10pt;">(“ASC 718”), which generally requires that companies measure and recognize stock-based compensation expense in an amount equal to the fair value of share-based awards granted under compensation arrangements over the related vesting period. We have granted share-based awards to certain of our employees and directors in the form of stock options, director stock units and performance share units (“PSU’s”). Each PSU represents a contingent right to receive one common share of the Company if vesting is satisfied at the end of the performance period based on the related performance conditions and markets conditions.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Determining the fair value of share-based awards requires judgment to identify the appropriate valuation model and develop the assumptions. The grant date fair value for stock option awards and PSU’s with a market condition (as defined in ASC 718) is estimated using the Black-Scholes option pricing model and the Monte Carlo simulation methodology, respectively. The grant date fair value for the director stock units and PSU’s with a performance condition (as defined in ASC 718) is based upon the closing price of our common shares on the date of grant. We recognize stock-based compensation expense for our stock option awards and PSU’s with a market condition over the requisite service period of the award while stock-based compensation expense for our director stock units, which vest immediately, is fully recognized in the period of the award. For the portion of the PSU’s awarded subject to the satisfaction of a performance condition, we recognize stock-based compensation expense on a straight-line basis over the performance period based on the probable outcome of the related performance condition. If satisfaction of the performance condition is not probable, stock-based compensation expense recognition is deferred until probability is attained and a cumulative compensation expense adjustment is recorded and recognized ratably over the remaining service period. The Company reevaluates the probability of the satisfaction of the performance condition on a quarterly basis, and stock-based compensation expense is adjusted based on the portion of the requisite service period that has passed. If actual results differ significantly from these estimates, stock-based compensation expense could be higher and have a material impact on our consolidated financial statements. Please see </font><a style="font-family:inherit;font-size:10pt;" href="#s11A6BB3444CEB499B404A47D46BAF444"><font style="font-family:inherit;font-size:10pt;">Note 2</font></a><font style="font-family:inherit;font-size:10pt;"> to our Consolidated Financial Statements for more information regarding our stock-based compensation.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Letters of Credit and Completion Bonds.</font><font style="font-family:inherit;font-size:10pt;">  The Company provides standby letters of credit and completion bonds for development work in progress, deposits on land and lot purchase agreements and miscellaneous deposits. As of </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company had outstanding </font><font style="font-family:inherit;font-size:10pt;">$144.1 million</font><font style="font-family:inherit;font-size:10pt;"> of completion bonds and standby letters of credit, some of which were issued to various local governmental entities, that expire at various times through </font><font style="font-family:inherit;font-size:10pt;">September 2026</font><font style="font-family:inherit;font-size:10pt;">.  Included in this total are: (1) </font><font style="font-family:inherit;font-size:10pt;">$94.3 million</font><font style="font-family:inherit;font-size:10pt;"> of performance and maintenance bonds and </font><font style="font-family:inherit;font-size:10pt;">$30.1 million</font><font style="font-family:inherit;font-size:10pt;"> of performance letters of credit that serve as completion bonds for land development work in progress; (2) </font><font style="font-family:inherit;font-size:10pt;">$12.4 million</font><font style="font-family:inherit;font-size:10pt;"> of financial letters of credit; and (3) </font><font style="font-family:inherit;font-size:10pt;">$7.3 million</font><font style="font-family:inherit;font-size:10pt;"> of financial bonds.  The development agreements under which we are required to provide completion bonds or letters of credit are generally not subject to a required completion date and only require that the improvements are in place in phases as houses are built and sold.  In locations where development has progressed, the amount of development work remaining to be completed is typically less than the remaining amount of bonds or letters of credit due to timing delays in obtaining release of the bonds or letters of credit.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Recently Adopted Accounting Standards.</font><font style="font-family:inherit;font-size:10pt;"> In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Simplifying the Presentation of Debt Issuance Costs</font><font style="font-family:inherit;font-size:10pt;"> (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts or premiums. ASU 2015-03 is effective for annual reporting periods beginning on or after December 15, 2015. The Company elected to early adopt the ASU during the fourth quarter of 2015 which is to be applied on a retrospective basis and represents a change in accounting principle. As a result, as of </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;"> and 2014, the Company reclassified a total of </font><font style="font-family:inherit;font-size:10pt;">$7.8 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$6.2 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, of the Company’s debt issuance costs from Other Assets to Senior Notes and Convertible Senior Subordinated Notes. ASU 2015-03 was applied retrospectively to the financial statements and as such, comparative financial statements of prior years have been adjusted accordingly. The below financial statement line items, reflected on the December 31, 2014 Consolidated Balance Sheets, were affected by the change in accounting principle. </font></div><div style="line-height:120%;padding-bottom:13px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="12" rowspan="1"></td></tr><tr><td width="437px" rowspan="1" colspan="1"></td><td width="5px" rowspan="1" colspan="1"></td><td width="61px" rowspan="1" colspan="1"></td><td width="8px" rowspan="1" colspan="1"></td><td width="9px" rowspan="1" colspan="1"></td><td width="5px" rowspan="1" colspan="1"></td><td width="67px" rowspan="1" colspan="1"></td><td width="3px" rowspan="1" colspan="1"></td><td width="9px" rowspan="1" colspan="1"></td><td width="5px" rowspan="1" colspan="1"></td><td width="67px" rowspan="1" colspan="1"></td><td width="3px" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:6pt;"><font style="font-family:inherit;font-size:6pt;"> </font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Balance Sheet As of December 31, 2014</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(In thousands)</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">As Previously Reported</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Adjustment</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">As Adjusted</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Other assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">43,870</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(6,171</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">37,699</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Total assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,211,410</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(6,171</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,205,239</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Convertible senior subordinated notes due 2017 - net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">57,500</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(1,557</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">55,943</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Convertible senior subordinated notes due 2018 - net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">86,250</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(2,244</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">84,006</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Senior notes - net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">228,469</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(2,370</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">226,099</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Total liabilities</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">667,115</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(6,171</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">660,944</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, in August 2015, the FASB issued ASU No. 2015-15, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements</font><font style="font-family:inherit;font-size:10pt;"> (“ASU 2015-15”), which clarifies the treatment of debt issuance costs from line-of-credit arrangements after the adoption of ASU 2015-03. In particular, ASU 2015-15 clarifies that the SEC staff would not object to an entity deferring and presenting debt issuance costs related to a line-of-credit arrangement as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of such arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. Therefore, in accordance with ASU 2015-15, the Company determined to continue presenting the debt issuance costs associated with the Company's revolving credit facility, letters of credit facilities and warehouse facilities as Other Assets included within our Consolidated Balance Sheets and continue amortizing those deferred costs over the term of the facilities.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In September 2015, the FASB issued ASU No. 2015-16, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Simplifying the Accounting for Measurement-Period Adjustments</font><font style="font-family:inherit;font-size:10pt;"> (“ASU 2015-16”). ASU 2015-16 requires an acquirer to recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The adjustments related to previous reporting periods since the acquisition date must be disclosed by income statement line item either on the face of the income statement or in the notes. ASU 2015-16 is effective for annual and interim periods beginning after December 15, 2016, with early adoption permitted. Given the short-time frame between the effective date (December 1, 2015) of our Minneapolis/St. Paul acquisition and our 2015 year-end, the Company elected to early adopt this guidance beginning in the fourth quarter of 2015. In accordance with ASU 2015-16, while we have recorded provisional account balances based on guidance contained in the FASB Accounting Standards Codification (“ASC”) 805-10, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Business Combinations </font><font style="font-family:inherit;font-size:10pt;">(“ASC 805”), we will update such balances, if necessary, upon further verification of the fair values with third parties on certain other assets, more relevant history on profitability of backlog, and further understanding of cost to complete activities, if any, on purchased communities.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Impact of New Accounting Standards.</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font><font style="font-family:inherit;font-size:10pt;">In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers </font><font style="font-family:inherit;font-size:10pt;">(“ASU 2014-09”), which provides guidance for revenue recognition. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in ASC 605, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition</font><font style="font-family:inherit;font-size:10pt;">, and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, “Revenue Recognition-Construction-Type and Production-Type Contracts.” ASU 2014-09’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under today’s guidance, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. In August 2015, the FASB issued ASU No. 2015-14, R</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">evenue from Contracts with Customers (Topic 606): Deferral of the Effective Date</font><font style="font-family:inherit;font-size:10pt;">, which delayed the effective date of ASU 2014-09 by one year. ASU 2014-09, as amended, is effective for public companies for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted as of the original effective date for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently evaluating the method and impact the adoption of ASU 2014-09 will have on the Company’s consolidated financial statements and disclosures. </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2015, the FASB issued ASU No. 2015-02, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Consolidation (Topic 810): Amendments to the Consolidation Analysis</font><font style="font-family:inherit;font-size:10pt;"> (“ASU 2015-02”). ASU 2015-02 amends the consolidation requirements in ASC 810 and requires management to reevaluate whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities. Further, the amendments eliminate the presumption that a general partner should consolidate a limited partnership, as well as affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. ASU 2015-02 is effective for the Company beginning January 1, 2016 and subsequent interim periods. Early adoption is permitted. The adoption of ASU 2015-02 is not expected to have a material effect on the Company’s consolidated financial statements and disclosures.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2016, the FASB issued ASU No. 2016-01, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities</font><font style="font-family:inherit;font-size:10pt;"> (“ASU 2016-01”), which makes a number of changes to the current GAAP model, including changes to the accounting for equity investments and financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. ASU 2016-01 is effective for our interim and annual reporting periods beginning January 1, 2018. Early adoption of this particular guidance from ASU 2016-01 is not permitted. The Company is currently evaluating the method of adoption and impact the pronouncement will have on the Company’s consolidated financial statements and disclosures.</font></div></div> | |
| CY2015 | us-gaap |
Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Guarantees and Indemnities. </font><font style="font-family:inherit;font-size:10pt;">Guarantee and indemnity liabilities are established by charging the applicable income statement or balance sheet line, depending on the nature of the guarantee or indemnity, and crediting a liability.  M/I Financial provides a limited-life guarantee on loans sold to certain third parties and estimates its actual liability related to the guarantee and any indemnities subsequently provided to the purchaser of the loans in lieu of loan repurchase based on historical loss experience.  Actual future costs associated with loans guaranteed or indemnified could differ materially from our current estimated amounts.  The Company has also provided certain other guarantees and indemnities in connection with the purchase and development of land, including environmental indemnities, and guarantees of the completion of land development.  The Company estimates these liabilities based on the estimated cost of insurance coverage or estimated cost of acquiring a bond in the amount of the exposure.  Actual future costs associated with these guarantees and indemnities could differ materially from our current estimated amounts. At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015 and 2014</font><font style="font-family:inherit;font-size:10pt;">, guarantees and indemnities of </font><font style="font-family:inherit;font-size:10pt;">$1.4 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$3.1 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, are included in Other Liabilities on the Consolidated Balance Sheets.</font></div></div> |
