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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/27/12 NVR Inc 10-Q 3/31/12 56:3.5M Donnelley … Solutions/FA |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 449K 2: EX-31.1 Certification -- §302 - SOA'02 HTML 23K 3: EX-31.2 Certification -- §302 - SOA'02 HTML 23K 4: EX-32 Certification -- §906 - SOA'02 HTML 18K 36: R1 Document and Entity Information HTML 37K 27: R2 Condensed Consolidated Balance Sheets HTML 128K 34: R3 Condensed Consolidated Balance Sheets HTML 29K (Parenthetical) 38: R4 Condensed Consolidated Statements of Income HTML 78K (Unaudited) 51: R5 Condensed Consolidated Statements of Cash Flows HTML 134K (Unaudited) 28: R6 Basis of Presentation HTML 29K 33: R7 Variable Interest Entities and Joint Ventures HTML 48K 24: R8 Land Under Development HTML 20K 17: R9 Contract Land Deposits HTML 21K 52: R10 Earnings per Share HTML 29K 40: R11 Excess Reorganization Value HTML 20K 39: R12 Shareholders' Equity HTML 56K 44: R13 Product Warranties HTML 27K 45: R14 Segment Disclosures HTML 78K 43: R15 Fair Value HTML 54K 46: R16 Debt HTML 22K 35: R17 Commitments and Contingencies HTML 30K 37: R18 Recent Accounting Pronouncements HTML 21K 42: R19 Variable Interest Entities and Joint Ventures HTML 40K (Tables) 56: R20 Earnings per Share (Tables) HTML 25K 48: R21 Shareholders' Equity (Tables) HTML 45K 30: R22 Product Warranties (Tables) HTML 25K 41: R23 Segment Disclosure (Tables) HTML 84K 32: R24 Fair Value (Tables) HTML 39K 14: R25 Variable Interest Entities and Joint Ventures HTML 29K (Details) 49: R26 Variable Interest Entities and Joint Ventures HTML 34K (Details 1) 53: R27 Variable Interest Entities and Joint Ventures HTML 40K (Details Textual) 21: R28 Land Under Development (Details) HTML 23K 20: R29 Contracts Land Deposits (Details) HTML 29K 22: R30 Earnings per Share (Details) HTML 39K 23: R31 Excess Reorganization Value (Details) HTML 19K 25: R32 Shareholders' Equity (Details) HTML 53K 12: R33 Shareholders' Equity (Details Textual) HTML 23K 47: R34 Product Warranties (Details) HTML 25K 29: R35 Segment Disclosure (Details) HTML 27K 31: R36 Segment Disclosure (Details 1) HTML 36K 16: R37 Segment Disclosure (Details 2) HTML 46K 55: R38 Segment Disclosure (Details 3) HTML 22K 11: R39 Segment Disclosure (Details Textual) HTML 19K 26: R40 Fair Value (Details) HTML 24K 50: R41 Fair Value (Details 1) HTML 34K 15: R42 Fair Value (Details Textual) HTML 38K 19: R43 Debt (Details Textual) HTML 25K 54: XML IDEA XML File -- Filing Summary XML 78K 18: EXCEL IDEA Workbook of Financial Reports (.xls) XLS 461K 5: EX-101.INS XBRL Instance -- nvr-20120331 XML 653K 7: EX-101.CAL XBRL Calculations -- nvr-20120331_cal XML 153K 8: EX-101.DEF XBRL Definitions -- nvr-20120331_def XML 281K 9: EX-101.LAB XBRL Labels -- nvr-20120331_lab XML 666K 10: EX-101.PRE XBRL Presentations -- nvr-20120331_pre XML 475K 6: EX-101.SCH XBRL Schema -- nvr-20120331 XSD 129K 13: ZIP XBRL Zipped Folder -- 0001193125-12-190645-xbrl Zip 80K
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<!-- Unit Section --> | |||||||||||||||||||||
<unit id="USDEPS"> | |||||||||||||||||||||
<divide> | |||||||||||||||||||||
<unitNumerator> | |||||||||||||||||||||
<measure> iso4217:USD </measure> | |||||||||||||||||||||
</unitNumerator> | |||||||||||||||||||||
<unitDenominator> | |||||||||||||||||||||
<measure> xbrli:shares </measure> | |||||||||||||||||||||
</unitDenominator> | |||||||||||||||||||||
</divide> | |||||||||||||||||||||
</unit> | |||||||||||||||||||||
<unit id="Segment"> | |||||||||||||||||||||
<measure> nvr:Segment </measure> | |||||||||||||||||||||
</unit> | |||||||||||||||||||||
<unit id="Parcel_of_Land"> | |||||||||||||||||||||
<measure> nvr:Parcel_of_Land </measure> | |||||||||||||||||||||
</unit> | |||||||||||||||||||||
<unit id="Joint_Venture"> | |||||||||||||||||||||
<measure> nvr:JointVenture </measure> | |||||||||||||||||||||
</unit> | |||||||||||||||||||||
<unit id="Lot"> | |||||||||||||||||||||
<measure> nvr:Lot </measure> | |||||||||||||||||||||
</unit> | |||||||||||||||||||||
<unit id="Pure"> | |||||||||||||||||||||
<measure> xbrli:pure </measure> | |||||||||||||||||||||
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<measure> xbrli:shares </measure> | |||||||||||||||||||||
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<unit id="USD"> | |||||||||||||||||||||
<measure> iso4217:USD </measure> | |||||||||||||||||||||
</unit> | |||||||||||||||||||||
<!-- Element Section --> <!-- Begin Block Tagged Note --> | |||||||||||||||||||||
<us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 1 - us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock--> <!-- xbrl,ns --> <!-- xbrl,nx --> <font style="font-family:times new roman" size="2"></font> <font style="font-family:times new roman" size="2"></font> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2"><b>1.</b></font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2"><b>Basis of Presentation </b></font></td> </tr> </table> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">The accompanying unaudited, condensed consolidated financial statements include the accounts of NVR, Inc. (“NVR” or the “Company”) and its subsidiaries and certain other entities in which the Company is deemed to be the primary beneficiary (see Note 2 to the accompanying condensed consolidated financial statements). Intercompany accounts and transactions have been eliminated in consolidation. The statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. Because the accompanying condensed consolidated financial statements do not include all of the information and footnotes required by GAAP, they should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011. In the opinion of management, all adjustments (consisting only of normal recurring accruals except as otherwise noted herein) considered necessary for a fair presentation have been included. Operating results for the three month period ended March 31, 2012 are not necessarily indicative of the results that may be expected for the year ending December 31, 2012. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2"> The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Certain prior year amounts in the condensed consolidated financial statements have been reclassified to conform to 2012 presentation. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">For the three-month periods ended March 31, 2012 and 2011, comprehensive income equaled net income; therefore, a separate statement of comprehensive income is not included in the accompanying condensed consolidated financial statements. </font></p> <p style="font-size:18px;margin-top:0px;margin-bottom:0px"> </p> </us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock> | |||||||||||||||||||||
<!-- End Block Tagged Note --> <!-- Begin Block Tagged Note --> | |||||||||||||||||||||
<nvr:VariableInterestEntitiesAndJointVenturesTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 2 - nvr:VariableInterestEntitiesAndJointVenturesTextBlock--> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2"><b>2.</b></font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2"><b>Variable Interest Entities and Joint Ventures </b></font></td> </tr> </table> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2"><b><i>Fixed Price Purchase Agreements</i></b> </font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2"> NVR generally does not engage in the land development business. Instead, the Company typically acquires finished building lots at market prices from various development entities under fixed price purchase agreements. The purchase agreements require deposits that may be forfeited if NVR fails to perform under the agreement. The deposits required under the purchase agreements are in the form of cash or letters of credit in varying amounts, and typically range up to 10% of the aggregate purchase price of the finished lots. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">NVR believes this lot acquisition strategy reduces the financial requirements and risks associated with direct land ownership and land development. NVR may, at its option, choose for any reason and at any time not to perform under these purchase agreements by delivering notice of its intent not to acquire the finished lots under contract. NVR’s sole legal obligation and economic loss for failure to perform under these purchase agreements is limited to the amount of the deposit pursuant to the liquidated damage provisions contained within the purchase agreements. In other words, if NVR does not perform under a purchase agreement, NVR loses only its deposit. None of the creditors of any of the development entities with which NVR enters fixed price purchase agreements have recourse to the general credit of NVR. NVR generally does not have any specific performance obligations to purchase a certain number or any of the lots, nor does NVR guarantee completion of the development by the developer or guarantee any of the developers’ financial or other liabilities. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">NVR is not involved in the design or creation of any of the development entities from which the Company purchases lots under fixed price purchase agreements. The developer’s equity holders have the power to direct 100% of the operating activities of the development entity. NVR has no voting rights in any of the development entities. The sole purpose of the development entity’s activities is to generate positive cash flow returns to its equity holders. Further, NVR does not share in any of the profit or loss generated by the project’s development. The profits and losses are passed directly to the developer’s equity holders. </font></p> <p style="margin-top:0px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">The deposit placed by NVR pursuant to the fixed price purchase agreement is deemed to be a variable interest in the respective development entities. Those development entities are deemed to be variable interest entities (“VIE”). Therefore, the development entities with which NVR enters fixed price purchase agreements, including the joint venture limited liability corporations, as discussed below, are evaluated for possible consolidation by NVR. An enterprise must consolidate a VIE when that enterprise has a controlling financial interest in the VIE. An enterprise is deemed to have a controlling financial interest if it has i) the power to direct the activities of a variable interest entity that most significantly impact the entity’s economic performance, and ii) the obligation to absorb losses of the VIE that could be significant to the VIE or the rights to receive benefits from the VIE that could be significant to the VIE. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">NVR believes the activities that most significantly impact a development entity’s economic performance are the operating activities of the entity. Unless and until a development entity completes finished building lots through the development process to be able to sell, the process of which the development entities’ equity investors bear the full risk, the entity does not earn any revenues. The operating development activities are managed solely by the development entity’s equity investors. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">The development entities with which NVR contracts to buy finished lots typically select the respective projects, obtain the necessary zoning approvals, obtain the financing required with no support or guarantees from NVR, select who will purchase the finished lots and at what price, and manage the completion of the infrastructure improvements, all for the purpose of generating a cash flow return to the development entity’s equity holders and all independent of NVR. The Company possesses no more than limited protective legal rights through the purchase agreement in the specific finished lots that it is purchasing, and NVR possesses no participative rights in the development entities. Accordingly, NVR does not have the power to direct the activities of a developer that most significantly impact the developer’s economic performance. For this reason, NVR has concluded that it is not the primary beneficiary of the development entities with which the Company enters fixed price purchase agreements, and therefore, NVR does not consolidate any of these VIEs. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">As of March 31, 2012, NVR controlled approximately 48,400 lots with deposits in cash and letters of credit totaling approximately $209,400 and $3,400, respectively. As noted above, NVR’s sole legal obligation and economic loss for failure to perform under these purchase agreements is limited to the amount of the deposit pursuant to the liquidated damage provisions contained within the purchase agreements and in very limited circumstances, specific performance obligations. NVR’s total risk of loss related to contract land deposits as of March 31, 2012 and December 31, 2011, is as follows: </font></p> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> </p> <p style="font-size:0px;margin-top:0px;margin-bottom:0px"> </p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="66%"> </td> <td valign="bottom" width="10%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="10%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>March 31, 2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>December 31, 2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Contract land deposits</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">209,390</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">202,263</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Loss reserve on contract land deposits</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(69,062</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(70,333</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Contract land deposits, net</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">140,328</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">131,930</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Contingent obligations in the form of letters of credit</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">3,390</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">3,228</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Contingent specific performance obligations (1)</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">8,873</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">8,526</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total risk of loss</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">152,591</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">143,684</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> </p> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2">(1)</font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2">At March 31, 2012 and December 31, 2011, the Company was committed to purchase 100 and 92 finished lots under specific performance obligations, respectively. </font></td> </tr> </table> <p style="margin-top:0px;margin-bottom:0px"><font style="font-family:times new roman" size="2"><b><i>Joint Ventures </i></b></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2"> On a limited basis, NVR also obtains finished lots using joint venture limited liability corporations (“JVs”). All JVs are typically structured such that NVR is a non-controlling member and is at risk only for the amount the Company has invested, in addition to any deposits placed under fixed price purchase agreements with the joint venture. NVR is not a borrower, guarantor or obligor on any debt of the JVs, as applicable. The Company enters into a standard fixed price purchase agreement to purchase lots from these JVs, and as a result has a variable interest in these JVs. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2"> At March 31, 2012, the Company had an aggregate investment totaling approximately $87,700 in four JVs that are expected to produce approximately 6,600 finished lots, of which approximately 2,700 were not under contract with NVR. The Company has determined that it is not the primary beneficiary of three of the JVs because NVR and the other JV partner either share power or the other JV has the controlling financial interest. The aggregate investment in these three JVs was approximately $73,700 and is reported in the “Other assets, net” line item on the accompanying condensed consolidated balance sheets. For the remaining JV, NVR has concluded that it is the primary beneficiary because the Company has the controlling financial interest in the JV. The condensed balance sheets at March 31, 2012 and December 31, 2011, of the consolidated JV are as follows: </font></p> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> </p> <p style="font-size:0px;margin-top:0px;margin-bottom:0px"> </p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="66%"> </td> <td valign="bottom" width="11%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="11%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>March 31, 2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>December 31, 2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Cash</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">776</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">462</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Restricted cash</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">513</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">503</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Other assets</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">126</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">125</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Land under development</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">16,131</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">19,092</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total assets</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">17,546</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">20,182</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Debt</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">2,348</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">4,983</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Accrued expenses</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">57</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">108</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Equity</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">15,141</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">15,091</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total liabilities and equity</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">17,546</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">20,182</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> <p style="font-size:18px;margin-top:0px;margin-bottom:0px"> </p> </nvr:VariableInterestEntitiesAndJointVenturesTextBlock> | |||||||||||||||||||||
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<nvr:LandUnderDevelopmentDisclosureTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 3 - nvr:LandUnderDevelopmentDisclosureTextBlock--> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2"><b>3.</b></font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2"><b>Land Under Development </b></font></td> </tr> </table> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">On a limited basis, NVR directly acquires raw parcels of land already zoned for its intended use to develop into finished lots. Land under development includes the land acquisition costs, direct improvement costs, capitalized interest, where applicable, and real estate taxes. As of March 31, 2012, NVR directly owned four separate raw parcels of land with a carrying value of $70,225 that it intends to develop into approximately 850 finished lots for use in its homebuilding operations. None of the raw parcels had any indicators of impairment as of March 31, 2012. Based on current market conditions, NVR may, on a very limited basis, directly acquire additional raw parcels to develop into finished lots. See the Overview section of Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations included herein for additional discussion. </font></p> <p style="font-size:18px;margin-top:0px;margin-bottom:0px"> </p> </nvr:LandUnderDevelopmentDisclosureTextBlock> | |||||||||||||||||||||
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<nvr:ContractLandDepositsTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 4 - nvr:ContractLandDepositsTextBlock--> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2"><b>4.</b></font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2"><b>Contract Land Deposits </b></font></td> </tr> </table> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">As of March 31, 2012, NVR controlled approximately 48,400 lots under purchase agreements with deposits in cash and letters of credit totaling approximately $209,400 and $3,400, respectively. At December 31, 2011, NVR controlled approximately 48,200 lots under purchase agreements with deposits in cash and letters of credit totaling approximately $202,300 and $3,200, respectively. During the three-month periods ended March 31, 2012 and March 31, 2011, the Company recognized a net pre-tax recovery of approximately $1,000 of contract land deposits previously determined to be uncollectible and recognized a net pre-tax contract land deposit impairment charge of approximately $1,300, respectively. The contract land deposit asset is shown net of an approximate $69,100 and $70,300 impairment valuation allowance at March 31, 2012 and December 31, 2011, respectively. </font></p> <p style="font-size:18px;margin-top:0px;margin-bottom:0px"> </p> </nvr:ContractLandDepositsTextBlock> | |||||||||||||||||||||
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<us-gaap:EarningsPerShareTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 5 - us-gaap:EarningsPerShareTextBlock--> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2"><b>5.</b></font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2"><b>Earnings per Share </b></font></td> </tr> </table> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">The following weighted average shares and share equivalents were used to calculate basic and diluted earnings per share for the three months ended March 31, 2012 and 2011: </font></p> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> </p> <p style="font-size:0px;margin-top:0px;margin-bottom:0px"> </p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="76%"> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Three Months Ended March 31,</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Weighted average number of shares outstanding used to calculate basic EPS</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">5,044,000</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">5,823,000</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><i>Dilutive Securities:</i></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Stock options and restricted share units</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">115,000</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">197,000</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Weighted average number of shares and share equivalents outstanding used to calculate diluted EPS</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">5,159,000</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">6,020,000</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">The assumed proceeds used in the treasury method for calculating NVR’s diluted earnings per share includes the amount the employee must pay upon exercise, the amount of compensation cost attributed to future services and not yet recognized and the amount of tax benefits that would be credited to additional paid-in-capital assuming exercise of the stock option or vesting of the restricted share unit. The assumed amount credited to additional paid-in-capital equals the tax benefit from the assumed exercise of stock options or the assumed vesting of restricted share units after consideration of the intrinsic value upon assumed exercise less the actual stock-based compensation expense recognized in the income statement. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">Stock options issued under equity benefit plans to purchase 470,217 and 442,095 shares of common stock were outstanding during the quarters ended March 31, 2012 and 2011, respectively, but were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive. </font></p> <p style="font-size:18px;margin-top:0px;margin-bottom:0px"> </p> </us-gaap:EarningsPerShareTextBlock> | |||||||||||||||||||||
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<nvr:ReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssetsTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 6 - nvr:ReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssetsTextBlock--> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2"><b>6.</b></font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2"><b>Excess Reorganization Value </b></font></td> </tr> </table> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">Reorganization value in excess of identifiable assets (“excess reorganization value”) is an indefinite life intangible asset that was created upon NVR’s emergence from bankruptcy on September 30, 1993. Based on the allocation of the reorganization value, the portion of the reorganization value which was not attributed to specific tangible or intangible assets has been reported as excess reorganization value, which is treated similarly to goodwill. Excess reorganization value is not subject to amortization. Rather, excess reorganization value is subject to an impairment assessment on an annual basis or more frequently if changes in events or circumstances indicate that impairment may have occurred. Because excess reorganization value was based on the reorganization value of NVR’s entire enterprise upon bankruptcy emergence, the impairment assessment is conducted on an enterprise basis based on the comparison of NVR’s total equity compared to the market value of NVR’s outstanding publicly-traded common stock. The Company completed the annual assessment of impairment during the first quarter of 2012 and determined that there was no impairment of excess reorganization value. </font></p> </nvr:ReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssetsTextBlock> | |||||||||||||||||||||
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<us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 7 - us-gaap:StockholdersEquityNoteDisclosureTextBlock--> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2"><b>7.</b></font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2"><b>Shareholders’ Equity </b></font></td> </tr> </table> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">A summary of changes in shareholders’ equity is presented below: </font></p> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> </p> <p style="font-size:0px;margin-top:0px;margin-bottom:0px"> </p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="45%"> </td> <td valign="bottom" width="2%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="2%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="2%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="2%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="2%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="2%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="2%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Common<br />Stock</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Additional<br />Paid-In<br />Capital</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Retained<br />Earnings</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Treasury<br />Stock</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Deferred<br />Comp.<br />Trust</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Deferred<br />Comp.<br />Liability</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Total</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b>Balance, December 31, 2011</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">206</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,072,779</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">4,158,492</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(3,856,678</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(25,581</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">25,581</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,374,799</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Net income</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">20,123</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">20,123</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Deferred compensation activity</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">250</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(250</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Equity-based compensation</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">16,440</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">16,440</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Tax benefit from equity benefit plan activity</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">876</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">876</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Proceeds from stock options exercised</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">6,003</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">6,003</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Treasury stock issued upon option exercise</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(21,883</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">21,883</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b>Balance, March 31, 2012</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">206</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,074,215</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">4,178,615</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(3,834,795</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(25,331</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">25,331</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,418,241</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">The Company did not repurchase any shares of its common stock during the three months ended March 31, 2012. The Company settles share issuances under equity benefit plans by issuing shares of treasury stock. Approximately 88,000 shares were issued from the treasury account during the first quarter of 2012 for option exercises and vesting of restricted share units. Shares are relieved from the treasury account based on the weighted average cost basis of treasury shares acquired. </font></p> <p style="font-size:18px;margin-top:0px;margin-bottom:0px"> </p> </us-gaap:StockholdersEquityNoteDisclosureTextBlock> | |||||||||||||||||||||
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<us-gaap:ProductWarrantyDisclosureTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 8 - us-gaap:ProductWarrantyDisclosureTextBlock--> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2"><b>8.</b></font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2"><b>Product Warranties </b></font></td> </tr> </table> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">The Company establishes warranty and product liability reserves (“warranty reserve”) to provide for estimated future expenses as a result of construction and product defects, product recalls and litigation incidental to NVR’s homebuilding business. Liability estimates are determined based on management’s judgment, considering such factors as historical experience, the likely current cost of corrective action, manufacturers’ and subcontractors’ participation in sharing the cost of corrective action, consultations with third party experts such as engineers, and discussions with the Company’s general counsel and outside counsel retained to handle specific product liability cases. The following table reflects the changes in the Company’s warranty reserve during the three months ended March 31, 2012 and 2011: </font></p> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> </p> <p style="font-size:0px;margin-top:0px;margin-bottom:0px"> </p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="78%"> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Three Months Ended March 31,</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Warranty reserve, beginning of period</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">64,008</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">69,787</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Provision</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">6,415</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">3,732</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Payments</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(10,137</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(8,189</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Warranty reserve, end of period</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">60,286</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">65,330</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> </us-gaap:ProductWarrantyDisclosureTextBlock> | |||||||||||||||||||||
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<us-gaap:SegmentReportingDisclosureTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 9 - us-gaap:SegmentReportingDisclosureTextBlock--> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2"><b>9.</b></font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2"><b>Segment Disclosures </b></font></td> </tr> </table> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">The following disclosure includes four homebuilding reportable segments that aggregate geographically the Company’s homebuilding operating segments, and the mortgage banking operations presented as a single reportable segment. The homebuilding reportable segments are comprised of operating divisions in the following geographic areas: </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">Homebuilding Mid Atlantic – Virginia, West Virginia, Maryland, and Delaware </font></p> <p style="margin-top:0px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">Homebuilding North East – New Jersey and eastern Pennsylvania </font></p> <p style="margin-top:0px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">Homebuilding Mid East – Kentucky, New York, Ohio, western Pennsylvania, Indiana and Illinois </font></p> <p style="margin-top:0px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">Homebuilding South East – North Carolina, South Carolina, Florida and Tennessee </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">Homebuilding profit before tax includes all revenues and income generated from the sale of homes, less the cost of homes sold, selling, general and administrative expenses, and a corporate capital allocation charge. The corporate capital allocation charge eliminates in consolidation, is based on the segment’s average net assets employed, and is charged using a consistent methodology in the periods presented. The corporate capital allocation charged to the operating segment allows the Chief Operating Decision Maker to determine whether the operating segment’s results are providing the desired rate of return after covering the Company’s cost of capital. The Company records charges on contract land deposits when it is determined that it is probable that recovery of the deposit is impaired. For segment reporting purposes, impairments on contract land deposits are charged to the operating segment upon the determination to terminate a finished lot purchase agreement with the developer, or to restructure a lot purchase agreement resulting in the forfeiture of the deposit. Mortgage banking profit before tax consists of revenues generated from mortgage financing, title insurance and closing services, less the costs of such services and general and administrative costs. Mortgage banking operations are not charged a capital allocation charge. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">In addition to the corporate capital allocation and contract land deposit impairments discussed above, the other reconciling items between segment profit and consolidated profit before tax include unallocated corporate overhead (including all management incentive compensation), equity-based compensation expense, consolidation adjustments and external corporate interest expense. NVR’s overhead functions, such as accounting, treasury, human resources, etc., are centrally performed and the costs are not allocated to the Company’s operating segments. Consolidation adjustments consist of such items necessary to convert the reportable segments’ results, which are predominantly maintained on a cash basis, to a full accrual basis for external financial statement presentation purposes, and are not allocated to the Company’s operating segments. Likewise, equity-based compensation expense is not charged to the operating segments. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">Following are tables presenting revenues, segment profit and segment assets for each reportable segment, with reconciliations to the amounts reported for the consolidated enterprise, where applicable: </font></p> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> </p> <p style="font-size:0px;margin-top:0px;margin-bottom:0px"> </p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="78%"> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Three Months Ended March 31,</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b>Revenues:</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid Atlantic</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">360,811</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">312,940</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding North East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">52,200</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">39,193</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">106,282</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">98,152</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding South East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">66,902</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">52,459</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Mortgage Banking</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">14,297</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">11,760</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total consolidated revenues</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">600,492</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">514,504</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> <p style="font-size:1px;margin-top:12px;margin-bottom:0px"> </p> <p style="font-size:0px;margin-top:0px;margin-bottom:0px"> </p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr style="visibility:hidden; line-height:0pt; color:white"> <td width="78%"> </td> <td valign="bottom" width="5%"> </td> <td> </td> <td nowrap="nowrap"><font style="times new roman" size="2">000,000,000</font></td> <td> </td> <td valign="bottom" width="5%"> </td> <td> </td> <td nowrap="nowrap"><font style="times new roman" size="2">000,000,000</font></td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Three Months Ended March 31,</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b>Profit:</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid Atlantic</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">29,086</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">25,876</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding North East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">2,461</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,123</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">960</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,607</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding South East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">3,905</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">2,213</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Mortgage Banking</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">8,742</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">6,741</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:5.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total segment profit</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">45,154</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">37,560</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Contract land deposit reserve adjustment(1)</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,309</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(1,130</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Equity-based compensation expense</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(16,440</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(15,580</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Corporate capital allocation (2)</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">18,972</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">15,423</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Unallocated corporate overhead (3)</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(18,803</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(16,460</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Consolidation adjustments and other (4)</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">827</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">5,125</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Corporate interest expense</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(61</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(103</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="margin-left:5.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Reconciling items sub-total</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(14,196</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(12,725</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Consolidated income before taxes</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">30,958</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">24,835</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> </p> <p style="font-size:0px;margin-top:0px;margin-bottom:0px"> </p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr style="visibility:hidden; line-height:0pt; color:white"> <td width="74%"> </td> <td valign="bottom" width="5%"> </td> <td> </td> <td nowrap="nowrap"><font style="times new roman" size="2">000,000,000</font></td> <td> </td> <td valign="bottom" width="5%"> </td> <td> </td> <td nowrap="nowrap"><font style="times new roman" size="2">000,000,000</font></td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>March 31,<br />2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>December 31,<br />2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b><i>Assets:</i></b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid Atlantic</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">697,590</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">626,157</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding North East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">69,745</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">55,948</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">116,002</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">94,593</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding South East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">73,439</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">63,263</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Mortgage Banking</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">134,495</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">270,820</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:5.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total segment assets</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,091,271</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,110,781</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Consolidated variable interest entity</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">17,546</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">20,182</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Cash and cash equivalents</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">567,922</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">475,566</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Deferred taxes</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">156,843</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">155,881</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Intangible assets</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">48,927</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">48,927</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Contract land deposit reserve</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(69,062</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(70,333</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Consolidation adjustments and other</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">37,465</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">38,481</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="margin-left:5.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Reconciling items sub-total</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">759,641</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">668,704</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Consolidated assets</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,850,912</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,779,485</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> </p> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"> <font style="font-family:times new roman" size="2">(1)</font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2">This item represents changes to the contract land deposit impairment reserve, which are not allocated to the reportable segments. </font></td> </tr> </table> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2">(2)</font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2">This item represents the elimination of the corporate capital allocation charge included in the respective homebuilding reportable segments. The corporate capital allocation charge is based on the segment’s monthly average asset balance, and was as follows for the periods presented: </font></td> </tr> </table> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> </p> <p style="font-size:0px;margin-top:0px;margin-bottom:0px"> </p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="80%"> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Three Months Ended March 31,</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid Atlantic</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">12,680</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">10,831</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding North East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,822</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,163</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">2,742</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">2,204</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding South East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,728</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,225</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">18,972</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">15,423</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> <p style="font-size:1px;margin-top:12px;margin-bottom:0px"> </p> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2">(3)</font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2">The increase in unallocated corporate overhead in the first quarter of 2012 was primarily attributable to higher management incentive costs period over period. </font></td> </tr> </table> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2">(4)</font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2">The decrease in consolidation adjustments and other in 2012 from 2011 was primarily attributable to changes in the corporate consolidation entries based on production and settlement volumes in the respective quarters. </font></td> </tr> </table> <p style="font-size:18px;margin-top:0px;margin-bottom:0px"> </p> </us-gaap:SegmentReportingDisclosureTextBlock> | |||||||||||||||||||||
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<us-gaap:FairValueDisclosuresTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 10 - us-gaap:FairValueDisclosuresTextBlock--> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2"><b>10.</b></font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2"><b>Fair Value </b></font></td> </tr> </table> <p style="margin-top:6px;margin-bottom:0px"><font style="font-family:times new roman" size="2"><b><i>Financial Instruments </i></b></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2"> Except as noted below, NVR believes that insignificant differences exist between the carrying value and the fair value of its financial instruments, which consists of cash equivalents, due to their short term nature. </font></p> <p style="margin-top:18px;margin-bottom:0px"><font style="font-family:times new roman" size="2"><b><i>Derivative Instruments and Mortgage Loans Held for Sale </i></b></font></p> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">In the normal course of business, NVR’s mortgage banking segment enters into contractual commitments to extend credit to buyers of single-family homes with fixed expiration dates. The commitments become effective when the borrowers “lock-in” a specified interest rate within time frames established by NVR. All mortgagors are evaluated for credit worthiness prior to the extension of the commitment. Market risk arises if interest rates move adversely between the time of the “lock-in” of rates by the borrower and the sale date of the loan to a broker/dealer. To mitigate the effect of the interest rate risk inherent in providing rate lock commitments to borrowers, the Company enters into optional or mandatory delivery forward sale contracts to sell whole loans and mortgage-backed securities to broker/dealers. The forward sale contracts lock in an interest rate and price for the sale of loans similar to the specific rate lock commitments. NVR does not engage in speculative or trading derivative activities. Both the rate lock commitments to borrowers and the forward sale contracts to broker/dealers are undesignated derivatives and, accordingly, are marked to fair value through earnings. At March 31, 2012, there were contractual commitments to extend credit to borrowers aggregating $166,437 and open forward delivery contracts aggregating $254,003. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">GAAP assigns a fair value hierarchy to the inputs used to measure fair value. Level 1 inputs are quoted prices in active markets for identical assets and liabilities. Level 2 inputs are inputs other than quoted market prices that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs. The fair value of the Company’s rate lock commitments to borrowers and the related input levels includes, as applicable: </font></p> <p style="font-size:6px;margin-top:0px;margin-bottom:0px"> </p> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%"><font size="1"> </font></td> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2">i)</font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2">the assumed gain/loss of the expected resultant loan sale (level 2); </font></td> </tr> </table> <p style="font-size:6px;margin-top:0px;margin-bottom:0px"> </p> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%"><font size="1"> </font></td> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2">ii)</font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2">the effects of interest rate movements between the date of the rate lock and the balance sheet date (level 2); and </font></td> </tr> </table> <p style="font-size:6px;margin-top:0px;margin-bottom:0px"> </p> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%"><font size="1"> </font></td> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2">iii)</font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2">the value of the servicing rights associated with the loan (level 2). </font></td> </tr> </table> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2"> The assumed gain/loss considers the amount that the Company has discounted the price to the borrower from par for competitive reasons and the excess servicing to be received or buydown fees to be paid upon securitization of the loan. The excess servicing and buydown fees are calculated pursuant to contractual terms with investors. To calculate the effects of interest rate movements, the Company utilizes applicable published mortgage-backed security prices, and multiplies the price movement between the rate lock date and the balance sheet date by the notional loan commitment amount. The Company sells all of its loans on a servicing released basis, and receives a servicing released premium upon sale. Thus, the value of the servicing rights, which averaged 51 basis points of the loan amount as of March 31, 2012, is included in the fair value measurement and is based upon contractual terms with investors and varies depending on the loan type. The Company assumes an approximate 7% fallout rate when measuring the fair value of rate lock commitments. Fallout is defined as locked loan commitments for which the Company does not close a mortgage loan and is based on historical experience. </font></p> <p style="margin-top:0px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">The fair value of the Company’s forward sales contracts to broker/dealers solely considers the market price movement of the same type of security between the trade date and the balance sheet date (level 2). The market price changes are multiplied by the notional amount of the forward sales contracts to measure the fair value. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">Mortgage loans held for sale are recorded at fair value when closed, and thereafter are carried at the lower of cost or fair value, net of deferred origination costs, until sold. Fair value is measured using level 2 inputs. The fair value of loans held for sale of $113,723 included in the accompanying condensed consolidated balance sheet has been decreased by $1,017 from the aggregate principal balance of $114,740. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">The undesignated derivative instruments are included in the accompanying condensed consolidated balance sheet as follows: </font></p> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> </p> <p style="font-size:0px;margin-top:0px;margin-bottom:0px"> </p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="42%"> </td> <td valign="bottom" width="8%"> </td> <td width="39%"> </td> <td valign="bottom" width="8%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" align="center" style="border-bottom:1px solid #000000"> <p style="margin-top:0px;margin-bottom:0px" align="center"><font style="font-family:times new roman" size="1"><b>Balance</b></font></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><font style="font-family:times new roman" size="1"><b>Sheet</b></font></p> <p style="margin-top:0px;margin-bottom:1px" align="center"><font style="font-family:times new roman" size="1"><b>Location</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Fair</b></font><br /><font style="font-family:times new roman" size="1"><b>Value<br />March 31, 2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b>Derivative Assets:</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Forward Sales Contracts</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">NVRM - Other assets</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">917</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <tr> <td height="8"> </td> <td height="8" colspan="2"> </td> <td height="8" colspan="4"> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b>Derivative Liabilities:</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Rate Lock Commitments</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">NVRM - Accounts payable and other liabilities</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">421</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">The fair value measurement as of March 31, 2012 was as follows: </font></p> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> </p> <p style="font-size:0px;margin-top:0px;margin-bottom:0px"> </p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="53%"> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Notional or<br />Principal<br />Amount</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Assumed<br />Gain (Loss)<br />From Loan<br />Sale</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Interest<br />Rate<br />Movement<br />Effect</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Servicing<br />Rights<br />Value</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Security<br />Price<br />Change</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Total Fair<br />Value<br />Measurement<br />Gain/(Loss)</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Rate lock commitments</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">166,437</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(939</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(250</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">768</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(421</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Forward sales contracts</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">254,003</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">917</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">917</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Mortgages held for sale</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">114,740</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(724</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(900</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">607</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(1,017</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b>Total Fair Value Measurement, March 31, 2012</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(1,663</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(1,150</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,375</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">917</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(521</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">For the three month period ended March 31, 2012, NVRM recorded a fair value adjustment expense of $450. The unrealized loss from the change in the fair value measurement is included in earnings as a component of mortgage banking fees in the accompanying condensed consolidated statements of income. The fair value measurement will be impacted in the future by the change in the value of the servicing rights, security price fluctuations, and the volume and product mix of the Company’s closed loans and locked loan commitments. </font></p> <p style="font-size:18px;margin-top:0px;margin-bottom:0px"> </p> </us-gaap:FairValueDisclosuresTextBlock> | |||||||||||||||||||||
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<us-gaap:DebtDisclosureTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 11 - us-gaap:DebtDisclosureTextBlock--> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2"><b>11.</b></font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2"><b>Debt </b></font></td> </tr> </table> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">NVR’s mortgage banking operations, NVR Mortgage Finance, Inc. (“NVRM”), provides for its mortgage origination and other operating activities using cash generated from operations, borrowings from its parent company, NVR, as well as a revolving mortgage repurchase agreement (the “Repurchase Agreement”), which is non-recourse to NVR. The Repurchase Agreement provides for loan purchases up to $25,000, subject to certain sub-limits. The Repurchase Agreement expires on August 1, 2012. At March 31, 2012, there was no outstanding debt under the Repurchase Agreement. Amounts outstanding under the Repurchase Agreement are collateralized by the Company’s mortgage loans held for sale. As of March 31, 2012, there were no borrowing base limitations reducing the amount available for borrowings under the Repurchase Agreement. </font></p> <p style="font-size:18px;margin-top:0px;margin-bottom:0px"> </p> </us-gaap:DebtDisclosureTextBlock> | |||||||||||||||||||||
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<us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 12 - us-gaap:CommitmentsAndContingenciesDisclosureTextBlock--> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2"><b>12.</b></font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2"><b>Commitments and Contingencies </b></font></td> </tr> </table> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">On July 18, 2007, former and current employees filed lawsuits against the Company in the Court of Common Pleas in Allegheny County, Pennsylvania and Hamilton County, Ohio, in Superior Court in Durham County, North Carolina, and in the Circuit Court in Montgomery County, Maryland, and on July 19, 2007 in the Superior Court in New Jersey, alleging that the Company incorrectly classified its sales and marketing representatives as being exempt from overtime wages. These lawsuits are similar in nature to another lawsuit filed on October 29, 2004 by another former employee in the United States District Court for the Western District of New York. The complaints seek injunctive relief, an award of unpaid wages, including fringe benefits, liquidated damages equal to the overtime wages allegedly due and not paid, attorney and other fees and interest, and where available, multiple damages. The suits were filed as purported class actions. However, while a number of individuals have filed consents to join and assert federal claims in the New York action, none of the groups of employees that the lawsuits purport to represent have been certified as a class, and the Company has filed a motion to decertify the federal collective action claim and dismiss the individuals who filed consents from the case. The lawsuits filed in Ohio, Pennsylvania, Maryland, New Jersey and North Carolina have been stayed pending further developments in the New York action. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">The Company believes that its compensation practices in regard to sales and marketing representatives are entirely lawful and in compliance with two letter rulings from the United States Department of Labor (“DOL”) issued in January 2007. The three courts to most recently consider similar claims against other homebuilders have acknowledged the DOL’s position that sales and marketing representatives were properly classified as exempt from overtime wages and the only court to have directly addressed the exempt status of such employees concluded that the DOL’s position was valid. Accordingly, the Company has vigorously defended and intends to continue to vigorously defend these lawsuits. Because the Company is unable to determine the likelihood of an unfavorable outcome of this case, or the amount of damages, if any, the Company has not recorded any associated liabilities on the accompanying consolidated balance sheets. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">In June 2010, the Company received a Request for Information from the United States Environmental Protection Agency (“EPA”) pursuant to Section 308 of the Clean Water Act. The request sought information about storm water discharge practices in connection with homebuilding projects completed or underway by the Company in New York and New Jersey. The Company cooperated with this request, and provided information to the EPA. The Company has since been informed by the United States Department of Justice (“DOJ”) that the EPA forwarded the information on the matter to the DOJ, and the DOJ requested that the Company meet with the government to discuss the status of the case. A meeting took place in late January, 2012 with representatives from both the EPA and DOJ. It is as yet unclear what next steps the DOJ will take in the matter. The Company intends to continue cooperating with any future EPA and/or DOJ inquiries. At this time, the Company cannot predict the outcome of this inquiry, nor can it reasonably estimate the potential costs that may be associated with its eventual resolution. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2"> In August 2011, the Wage and Hour Division of the DOL notified the Company that it was initiating an investigation to determine the Company’s compliance with the Fair Standards Labor Act (“FSLA”). In the notice, the DOL requested certain information, including payroll data for a two year period and multiple community-specific items related to the Company’s homebuilding operations. The Company has cooperated with this information request, has either provided or made available the information that the DOL has requested and expects to continue to cooperate with the DOL’s investigation. The Company believes that its payroll practices are in compliance with the FSLA. At this time, the Company cannot predict the outcome of this investigation, nor can it reasonably estimate the potential costs that may be associated with its eventual resolution. </font></p> <p style="margin-top:0px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">The Company and its subsidiaries are also involved in various other litigation arising in the ordinary course of business. In the opinion of management, and based on advice of legal counsel, this litigation is not expected to have a material adverse effect on the financial position, results of operations or cash flows of the Company. Legal costs incurred in connection with outstanding litigation are expensed as incurred. </font></p> <p style="font-size:18px;margin-top:0px;margin-bottom:0px"> </p> </us-gaap:CommitmentsAndContingenciesDisclosureTextBlock> | |||||||||||||||||||||
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<nvr:DescriptionOfNewAccountingPronouncementsTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 13 - nvr:DescriptionOfNewAccountingPronouncementsTextBlock--> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2"><b>13.</b></font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2"><b>Recent Accounting Pronouncements </b></font></td> </tr> </table> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">In May 2011, the FASB issued Accounting Standards Update (“ASU”) No. 2011-04, <i>Fair Value Measurement (Topic 820) - Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs</i>, which amends Accounting Standards Codification (“ASC”) 820 providing consistent guidance on fair value measurement and disclosure requirements between U.S. GAAP and International Financial Reporting Standards. ASU 2011-04 was effective for the Company beginning January 1, 2012. The adoption of ASU 2011-04 did not impact the Company’s financial statements. </font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"><font style="font-family:times new roman" size="2">In September 2011, the FASB issued ASU No. 2011-08, <i>Intangibles – Goodwill and Other (Topic 350) – Testing Goodwill for Impairment</i>, which amends ASC 350 to first assess qualitative factors before performing the quantitative goodwill impairment testing. ASU 2011-08 was effective for the Company beginning January 1, 2012. The adoption of ASU 2011-08 did not impact the Company’s financial statements. </font></p> </nvr:DescriptionOfNewAccountingPronouncementsTextBlock> | |||||||||||||||||||||
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<nvr:RiskOfLossRelatedToContractLandDepositsTableTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note Table: nvr-20120331_note2_table1 - nvr:RiskOfLossRelatedToContractLandDepositsTableTextBlock--> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="66%"> </td> <td valign="bottom" width="10%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="10%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>March 31, 2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>December 31, 2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Contract land deposits</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">209,390</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">202,263</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Loss reserve on contract land deposits</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(69,062</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(70,333</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Contract land deposits, net</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">140,328</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">131,930</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Contingent obligations in the form of letters of credit</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">3,390</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">3,228</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Contingent specific performance obligations (1)</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">8,873</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">8,526</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total risk of loss</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">152,591</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">143,684</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> </p> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2">(1)</font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2">At March 31, 2012 and December 31, 2011, the Company was committed to purchase 100 and 92 finished lots under specific performance obligations, respectively. </font></td> </tr> </table> </nvr:RiskOfLossRelatedToContractLandDepositsTableTextBlock> | |||||||||||||||||||||
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<nvr:CondensedBalanceSheetOfConsolidatedJointVentureTableTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note Table: nvr-20120331_note2_table2 - nvr:CondensedBalanceSheetOfConsolidatedJointVentureTableTextBlock--> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="66%"> </td> <td valign="bottom" width="11%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="11%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>March 31, 2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>December 31, 2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Cash</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">776</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">462</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Restricted cash</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">513</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">503</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Other assets</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">126</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">125</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Land under development</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">16,131</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">19,092</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total assets</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">17,546</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">20,182</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Debt</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">2,348</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">4,983</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Accrued expenses</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">57</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">108</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Equity</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">15,141</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">15,091</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total liabilities and equity</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">17,546</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">20,182</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> </nvr:CondensedBalanceSheetOfConsolidatedJointVentureTableTextBlock> | |||||||||||||||||||||
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<us-gaap:ScheduleOfWeightedAverageNumberOfSharesTableTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note Table: nvr-20120331_note5_table1 - us-gaap:ScheduleOfWeightedAverageNumberOfSharesTableTextBlock--> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="76%"> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Three Months Ended March 31,</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Weighted average number of shares outstanding used to calculate basic EPS</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">5,044,000</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">5,823,000</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><i>Dilutive Securities:</i></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Stock options and restricted share units</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">115,000</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">197,000</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Weighted average number of shares and share equivalents outstanding used to calculate diluted EPS</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">5,159,000</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">6,020,000</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> </us-gaap:ScheduleOfWeightedAverageNumberOfSharesTableTextBlock> | |||||||||||||||||||||
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<us-gaap:ScheduleOfStockholdersEquityTableTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note Table: nvr-20120331_note7_table1 - us-gaap:ScheduleOfStockholdersEquityTableTextBlock--> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="45%"> </td> <td valign="bottom" width="2%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="2%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="2%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="2%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="2%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="2%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="2%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Common<br />Stock</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Additional<br />Paid-In<br />Capital</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Retained<br />Earnings</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Treasury<br />Stock</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Deferred<br />Comp.<br />Trust</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Deferred<br />Comp.<br />Liability</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Total</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b>Balance, December 31, 2011</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">206</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,072,779</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">4,158,492</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(3,856,678</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(25,581</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">25,581</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,374,799</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Net income</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">20,123</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">20,123</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Deferred compensation activity</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">250</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(250</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Equity-based compensation</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">16,440</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">16,440</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Tax benefit from equity benefit plan activity</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">876</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">876</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Proceeds from stock options exercised</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">6,003</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">6,003</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Treasury stock issued upon option exercise</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(21,883</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">21,883</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b>Balance, March 31, 2012</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">206</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,074,215</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">4,178,615</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(3,834,795</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(25,331</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">25,331</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,418,241</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> </us-gaap:ScheduleOfStockholdersEquityTableTextBlock> | |||||||||||||||||||||
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<us-gaap:ScheduleOfProductWarrantyLiabilityTableTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note Table: nvr-20120331_note8_table1 - us-gaap:ScheduleOfProductWarrantyLiabilityTableTextBlock--> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="78%"> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Three Months Ended March 31,</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Warranty reserve, beginning of period</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">64,008</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">69,787</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Provision</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">6,415</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">3,732</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Payments</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(10,137</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(8,189</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Warranty reserve, end of period</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">60,286</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">65,330</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> </us-gaap:ScheduleOfProductWarrantyLiabilityTableTextBlock> | |||||||||||||||||||||
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<us-gaap:ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note Table: nvr-20120331_note9_table1 - us-gaap:ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock--> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="78%"> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Three Months Ended March 31,</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b>Revenues:</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid Atlantic</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">360,811</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">312,940</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding North East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">52,200</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">39,193</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">106,282</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">98,152</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding South East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">66,902</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">52,459</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Mortgage Banking</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">14,297</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">11,760</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total consolidated revenues</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">600,492</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">514,504</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> </us-gaap:ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock> | |||||||||||||||||||||
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<us-gaap:ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note Table: nvr-20120331_note9_table2 - us-gaap:ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock--> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr style="visibility:hidden; line-height:0pt; color:white"> <td width="78%"> </td> <td valign="bottom" width="5%"> </td> <td> </td> <td nowrap="nowrap"><font style="times new roman" size="2">000,000,000</font></td> <td> </td> <td valign="bottom" width="5%"> </td> <td> </td> <td nowrap="nowrap"><font style="times new roman" size="2">000,000,000</font></td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Three Months Ended March 31,</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b>Profit:</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid Atlantic</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">29,086</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">25,876</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding North East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">2,461</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,123</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">960</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,607</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding South East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">3,905</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">2,213</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Mortgage Banking</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">8,742</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">6,741</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:5.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total segment profit</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">45,154</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">37,560</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Contract land deposit reserve adjustment(1)</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,309</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(1,130</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Equity-based compensation expense</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(16,440</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(15,580</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Corporate capital allocation (2)</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">18,972</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">15,423</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Unallocated corporate overhead (3)</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(18,803</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(16,460</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Consolidation adjustments and other (4)</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">827</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">5,125</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Corporate interest expense</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(61</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(103</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="margin-left:5.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Reconciling items sub-total</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(14,196</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(12,725</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Consolidated income before taxes</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">30,958</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">24,835</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> <!-- next part of non-contiguous block - from filename nvr-20120331_note9_table4.htm --> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note Table: nvr-20120331_note9_table4 - nvr:ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock--> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"> <font style="font-family:times new roman" size="2">(1)</font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2">This item represents changes to the contract land deposit impairment reserve, which are not allocated to the reportable segments. </font></td> </tr> </table> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2">(2)</font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2">This item represents the elimination of the corporate capital allocation charge included in the respective homebuilding reportable segments. The corporate capital allocation charge is based on the segment’s monthly average asset balance, and was as follows for the periods presented: </font></td> </tr> </table> <p style="font-size:12px;margin-top:0px;margin-bottom:0px"> </p> <p style="font-size:0px;margin-top:0px;margin-bottom:0px"> </p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="80%"> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Three Months Ended March 31,</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid Atlantic</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">12,680</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">10,831</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding North East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,822</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,163</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">2,742</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">2,204</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding South East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,728</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,225</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">18,972</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">15,423</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> <p style="font-size:1px;margin-top:12px;margin-bottom:0px"> </p> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2">(3)</font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2">The increase in unallocated corporate overhead in the first quarter of 2012 was primarily attributable to higher management incentive costs period over period. </font></td> </tr> </table> <table style="border-collapse:collapse; text-align: left" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:times new roman" size="2">(4)</font></td> <td align="left" valign="top"><font style="font-family:times new roman" size="2">The decrease in consolidation adjustments and other in 2012 from 2011 was primarily attributable to changes in the corporate consolidation entries based on production and settlement volumes in the respective quarters. </font></td> </tr> </table> </us-gaap:ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock> | |||||||||||||||||||||
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<us-gaap:ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note Table: nvr-20120331_note9_table3 - us-gaap:ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock--> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr style="visibility:hidden; line-height:0pt; color:white"> <td width="74%"> </td> <td valign="bottom" width="5%"> </td> <td> </td> <td nowrap="nowrap"><font style="times new roman" size="2">000,000,000</font></td> <td> </td> <td valign="bottom" width="5%"> </td> <td> </td> <td nowrap="nowrap"><font style="times new roman" size="2">000,000,000</font></td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>March 31,<br />2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>December 31,<br />2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b><i>Assets:</i></b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid Atlantic</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">697,590</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">626,157</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding North East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">69,745</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">55,948</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">116,002</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">94,593</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding South East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">73,439</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">63,263</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Mortgage Banking</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">134,495</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">270,820</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:5.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total segment assets</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,091,271</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,110,781</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Consolidated variable interest entity</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">17,546</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">20,182</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Cash and cash equivalents</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">567,922</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">475,566</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Deferred taxes</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">156,843</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">155,881</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Intangible assets</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">48,927</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">48,927</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Contract land deposit reserve</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(69,062</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(70,333</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Consolidation adjustments and other</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">37,465</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">38,481</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="margin-left:5.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Reconciling items sub-total</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">759,641</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">668,704</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:3.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Consolidated assets</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,850,912</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,779,485</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> </us-gaap:ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock> | |||||||||||||||||||||
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<nvr:ReconciliationOfCorporateCapitalAllocationChargeFromSegmentToConsolidatedTableTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note Table: nvr-20120331_note9_table5 - nvr:ReconciliationOfCorporateCapitalAllocationChargeFromSegmentToConsolidatedTableTextBlock--> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="80%"> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="4%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Three Months Ended March 31,</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid Atlantic</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">12,680</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">10,831</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding North East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,822</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,163</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding Mid East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">2,742</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">2,204</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Homebuilding South East</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,728</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,225</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Total</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">18,972</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">15,423</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> </nvr:ReconciliationOfCorporateCapitalAllocationChargeFromSegmentToConsolidatedTableTextBlock> | |||||||||||||||||||||
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<nvr:ScheduleOfUndesignatedDerivativeInstrumentsInStatementOfFinancialPositionFairValueTableTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note Table: nvr-20120331_note10_table1 - nvr:ScheduleOfUndesignatedDerivativeInstrumentsInStatementOfFinancialPositionFairValueTableTextBlock--> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="42%"> </td> <td valign="bottom" width="8%"> </td> <td width="39%"> </td> <td valign="bottom" width="8%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" align="center" style="border-bottom:1px solid #000000"> <p style="margin-top:0px;margin-bottom:0px" align="center"><font style="font-family:times new roman" size="1"><b>Balance</b></font></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><font style="font-family:times new roman" size="1"><b>Sheet</b></font></p> <p style="margin-top:0px;margin-bottom:1px" align="center"><font style="font-family:times new roman" size="1"><b>Location</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Fair</b></font><br /><font style="font-family:times new roman" size="1"><b>Value<br />March 31, 2012</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b>Derivative Assets:</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Forward Sales Contracts</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">NVRM - Other assets</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">917</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <tr> <td height="8"> </td> <td height="8" colspan="2"> </td> <td height="8" colspan="4"> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b>Derivative Liabilities:</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Rate Lock Commitments</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">NVRM - Accounts payable and other liabilities</font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">421</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> </nvr:ScheduleOfUndesignatedDerivativeInstrumentsInStatementOfFinancialPositionFairValueTableTextBlock> | |||||||||||||||||||||
<!-- End Block Tagged Note Table: nvr-20120331_note10_table1 --> <!-- Begin Block Tagged Note Table: nvr-20120331_note10_table2 --> | |||||||||||||||||||||
<nvr:UnrealizedGainLossFromChangeInFairValueMeasurementsIncludedInEarningsTableTextBlock contextRef="Jan-01-2012_Mar-31-2012"> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note Table: nvr-20120331_note10_table2 - nvr:UnrealizedGainLossFromChangeInFairValueMeasurementsIncludedInEarningsTableTextBlock--> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse; text-align: left" align="center"> <!-- Begin Table Head --> <tr> <td width="53%"> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="3%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Notional or<br />Principal<br />Amount</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Assumed<br />Gain (Loss)<br />From Loan<br />Sale</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Interest<br />Rate<br />Movement<br />Effect</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Servicing<br />Rights<br />Value</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Security<br />Price<br />Change</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><font style="font-family:times new roman" size="1"><b>Total Fair<br />Value<br />Measurement<br />Gain/(Loss)</b></font></td> <td valign="bottom"><font size="1"> </font></td> </tr> <!-- End Table Head --> <!-- Begin Table Body --> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Rate lock commitments</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">166,437</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(939</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(250</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">768</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(421</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Forward sales contracts</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">254,003</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">917</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">917</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2">Mortgages held for sale</font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">114,740</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(724</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(900</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">607</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">— </font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(1,017</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td valign="bottom"> <p style="border-top:1px solid #000000"> </p> </td> <td> </td> </tr> <tr> <td height="8"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> <td height="8" colspan="4"> </td> </tr> <tr> <td valign="top"> <p style="margin-left:1.00em; text-indent:-1.00em"><font style="font-family:times new roman" size="2"><b>Total Fair Value Measurement, March 31, 2012</b></font></p> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(1,663</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(1,150</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">1,375</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">917</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2"> </font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font style="font-family:times new roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="font-family:times new roman" size="2">(521</font></td> <td nowrap="nowrap" valign="bottom"><font style="font-family:times new roman" size="2">) </font></td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td valign="bottom"> <p style="border-top:3px double #000000"> </p> </td> <td> </td> </tr> <!-- End Table Body --> </table> </nvr:UnrealizedGainLossFromChangeInFairValueMeasurementsIncludedInEarningsTableTextBlock> | |||||||||||||||||||||
<!-- End Block Tagged Note Table: nvr-20120331_note10_table2 --> | |||||||||||||||||||||
<dei:AmendmentFlag contextRef="Jan-01-2012_Mar-31-2012"> false </dei:AmendmentFlag> | |||||||||||||||||||||
<dei:CurrentFiscalYearEndDate contextRef="Jan-01-2012_Mar-31-2012"> --12-31 </dei:CurrentFiscalYearEndDate> | |||||||||||||||||||||
<dei:DocumentFiscalPeriodFocus contextRef="Jan-01-2012_Mar-31-2012"> Q1 </dei:DocumentFiscalPeriodFocus> | |||||||||||||||||||||
<dei:DocumentFiscalYearFocus contextRef="Jan-01-2012_Mar-31-2012"> 2012 </dei:DocumentFiscalYearFocus> | |||||||||||||||||||||
<dei:DocumentPeriodEndDate contextRef="Jan-01-2012_Mar-31-2012"> 2012-03-31 </dei:DocumentPeriodEndDate> | |||||||||||||||||||||
<dei:DocumentType contextRef="Jan-01-2012_Mar-31-2012"> 10-Q </dei:DocumentType> | |||||||||||||||||||||
<dei:EntityCentralIndexKey contextRef="Jan-01-2012_Mar-31-2012"> 0000906163 </dei:EntityCentralIndexKey> | |||||||||||||||||||||
<dei:EntityCommonStockSharesOutstanding contextRef="BalanceAsOf_24Apr2012" unitRef="Shares" decimals="INF"> 5068090 </dei:EntityCommonStockSharesOutstanding> | |||||||||||||||||||||
<dei:EntityFilerCategory contextRef="Jan-01-2012_Mar-31-2012"> Large Accelerated Filer </dei:EntityFilerCategory> | |||||||||||||||||||||
<dei:EntityRegistrantName contextRef="Jan-01-2012_Mar-31-2012"> NVR INC </dei:EntityRegistrantName> | |||||||||||||||||||||
<nvr:AccountsPayableAndOtherLiabilities contextRef="BalanceAsOf_31Dec2011_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 26395000 </nvr:AccountsPayableAndOtherLiabilities> | |||||||||||||||||||||
<nvr:AccountsPayableAndOtherLiabilities contextRef="BalanceAsOf_31Mar2012_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 26731000 </nvr:AccountsPayableAndOtherLiabilities> | |||||||||||||||||||||
<nvr:AccruedExpensesRelatedToConsolidatedJointVenture contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 108000 </nvr:AccruedExpensesRelatedToConsolidatedJointVenture> | |||||||||||||||||||||
<nvr:AccruedExpensesRelatedToConsolidatedJointVenture contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 57000 </nvr:AccruedExpensesRelatedToConsolidatedJointVenture> | |||||||||||||||||||||
<nvr:AssetsMortgageBanking contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 270820000 </nvr:AssetsMortgageBanking> | |||||||||||||||||||||
<nvr:AssetsMortgageBanking contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 134495000 </nvr:AssetsMortgageBanking> | |||||||||||||||||||||
<nvr:AverageBasisPointsOfServicingLoanAmount contextRef="BalanceAsOf_31Mar2012" unitRef="Pure" decimals="4"> 0.0051 </nvr:AverageBasisPointsOfServicingLoanAmount> | |||||||||||||||||||||
<nvr:CashAndCashEquivalentsAtCarryingValueHomebuilder contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 475566000 </nvr:CashAndCashEquivalentsAtCarryingValueHomebuilder> | |||||||||||||||||||||
<nvr:CashAndCashEquivalentsAtCarryingValueHomebuilder contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 567922000 </nvr:CashAndCashEquivalentsAtCarryingValueHomebuilder> | |||||||||||||||||||||
<nvr:CashDepositedRelatedToLots contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 202300000 </nvr:CashDepositedRelatedToLots> | |||||||||||||||||||||
<nvr:CashDepositedRelatedToLots contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 209400000 </nvr:CashDepositedRelatedToLots> | |||||||||||||||||||||
<nvr:CashRelatedToConsolidatedJointVenture contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 462000 </nvr:CashRelatedToConsolidatedJointVenture> | |||||||||||||||||||||
<nvr:CashRelatedToConsolidatedJointVenture contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 776000 </nvr:CashRelatedToConsolidatedJointVenture> | |||||||||||||||||||||
<nvr:ContingentObligationsInFormOfLettersOfCredit contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 3228000 </nvr:ContingentObligationsInFormOfLettersOfCredit> | |||||||||||||||||||||
<nvr:ContingentObligationsInFormOfLettersOfCredit contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 3390000 </nvr:ContingentObligationsInFormOfLettersOfCredit> | |||||||||||||||||||||
<nvr:ContingentSpecificPerformanceObligations contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 8526000 </nvr:ContingentSpecificPerformanceObligations> | |||||||||||||||||||||
<nvr:ContingentSpecificPerformanceObligations contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 8873000 </nvr:ContingentSpecificPerformanceObligations> | |||||||||||||||||||||
<nvr:ContractLandDepositAssetImpairmentCharges contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 1300000 </nvr:ContractLandDepositAssetImpairmentCharges> | |||||||||||||||||||||
<nvr:ContractLandDepositImpairmentsRecoveries contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 1348000 </nvr:ContractLandDepositImpairmentsRecoveries> | |||||||||||||||||||||
<nvr:ContractLandDepositImpairmentsRecoveries contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> -1037000 </nvr:ContractLandDepositImpairmentsRecoveries> | |||||||||||||||||||||
<nvr:ContractLandDeposits contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 202263000 </nvr:ContractLandDeposits> | |||||||||||||||||||||
<nvr:ContractLandDeposits contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 209390000 </nvr:ContractLandDeposits> | |||||||||||||||||||||
<nvr:ContractLandDepositsRiskOfLoss contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 143684000 </nvr:ContractLandDepositsRiskOfLoss> | |||||||||||||||||||||
<nvr:ContractLandDepositsRiskOfLoss contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 152591000 </nvr:ContractLandDepositsRiskOfLoss> | |||||||||||||||||||||
<nvr:CorporateCapitalAllocationCharge contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 15423000 </nvr:CorporateCapitalAllocationCharge> | |||||||||||||||||||||
<nvr:CorporateCapitalAllocationCharge contextRef="ThreeMonthsEnded_31Mar2011_Homebuilding_Mid_Atlantic_Member" unitRef="USD" decimals="-3"> 10831000 </nvr:CorporateCapitalAllocationCharge> | |||||||||||||||||||||
<nvr:CorporateCapitalAllocationCharge contextRef="ThreeMonthsEnded_31Mar2011_Homebuilding_Mid_East_Member" unitRef="USD" decimals="-3"> 2204000 </nvr:CorporateCapitalAllocationCharge> | |||||||||||||||||||||
<nvr:CorporateCapitalAllocationCharge contextRef="ThreeMonthsEnded_31Mar2011_Homebuilding_North_East_Member" unitRef="USD" decimals="-3"> 1163000 </nvr:CorporateCapitalAllocationCharge> | |||||||||||||||||||||
<nvr:CorporateCapitalAllocationCharge contextRef="ThreeMonthsEnded_31Mar2011_Homebuilding_South_East_Member" unitRef="USD" decimals="-3"> 1225000 </nvr:CorporateCapitalAllocationCharge> | |||||||||||||||||||||
<nvr:CorporateCapitalAllocationCharge contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 18972000 </nvr:CorporateCapitalAllocationCharge> | |||||||||||||||||||||
<nvr:CorporateCapitalAllocationCharge contextRef="ThreeMonthsEnded_31Mar2012_Homebuilding_Mid_Atlantic_Member" unitRef="USD" decimals="-3"> 12680000 </nvr:CorporateCapitalAllocationCharge> | |||||||||||||||||||||
<nvr:CorporateCapitalAllocationCharge contextRef="ThreeMonthsEnded_31Mar2012_Homebuilding_Mid_East_Member" unitRef="USD" decimals="-3"> 2742000 </nvr:CorporateCapitalAllocationCharge> | |||||||||||||||||||||
<nvr:CorporateCapitalAllocationCharge contextRef="ThreeMonthsEnded_31Mar2012_Homebuilding_North_East_Member" unitRef="USD" decimals="-3"> 1822000 </nvr:CorporateCapitalAllocationCharge> | |||||||||||||||||||||
<nvr:CorporateCapitalAllocationCharge contextRef="ThreeMonthsEnded_31Mar2012_Homebuilding_South_East_Member" unitRef="USD" decimals="-3"> 1728000 </nvr:CorporateCapitalAllocationCharge> | |||||||||||||||||||||
<nvr:CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 3732000 </nvr:CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties> | |||||||||||||||||||||
<nvr:CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 6415000 </nvr:CostsAccruedForNewWarrantyContractsAndChangesInEstimatesForPreExistingWarranties> | |||||||||||||||||||||
<nvr:DeferredCompensationActivity contextRef="ThreeMonthsEnded_31Mar2012_Deferred_Compensation_Liability_Member" unitRef="USD" decimals="-3"> 250000 </nvr:DeferredCompensationActivity> | |||||||||||||||||||||
<nvr:DeferredCompensationActivity contextRef="ThreeMonthsEnded_31Mar2012_Deferred_Compensation_Trust_Member" unitRef="USD" decimals="-3"> -250000 </nvr:DeferredCompensationActivity> | |||||||||||||||||||||
<nvr:DeferredCompensationTrustShares contextRef="BalanceAsOf_31Dec2011" unitRef="Shares" decimals="INF"> 152964 </nvr:DeferredCompensationTrustShares> | |||||||||||||||||||||
<nvr:DeferredCompensationTrustShares contextRef="BalanceAsOf_31Mar2012" unitRef="Shares" decimals="INF"> 152223 </nvr:DeferredCompensationTrustShares> | |||||||||||||||||||||
<nvr:DerivativeInstrumentsFairValueAdjustmentGainLoss contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> -521000 </nvr:DerivativeInstrumentsFairValueAdjustmentGainLoss> | |||||||||||||||||||||
<nvr:DerivativeInstrumentsFairValueAdjustmentGainLoss contextRef="ThreeMonthsEnded_31Mar2012_Mortgages_Held_For_Sale_Member" unitRef="USD" decimals="-3"> -1017000 </nvr:DerivativeInstrumentsFairValueAdjustmentGainLoss> | |||||||||||||||||||||
<nvr:DerivativeInstrumentsFairValueAdjustmentGainLoss contextRef="ThreeMonthsEnded_31Mar2012_Forward_Contracts_Member" unitRef="USD" decimals="-3"> 917000 </nvr:DerivativeInstrumentsFairValueAdjustmentGainLoss> | |||||||||||||||||||||
<nvr:DerivativeInstrumentsFairValueAdjustmentGainLoss contextRef="ThreeMonthsEnded_31Mar2012_Interest_Rate_Lock_Commitments_Member" unitRef="USD" decimals="-3"> -421000 </nvr:DerivativeInstrumentsFairValueAdjustmentGainLoss> | |||||||||||||||||||||
<nvr:DistributionOfEarningsFromUnconsolidatedJointVentures contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 1120000 </nvr:DistributionOfEarningsFromUnconsolidatedJointVentures> | |||||||||||||||||||||
<nvr:DistributionOfEarningsFromUnconsolidatedJointVentures contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 651000 </nvr:DistributionOfEarningsFromUnconsolidatedJointVentures> | |||||||||||||||||||||
<nvr:EquityMethodInvestmentDividendsOrDistributionsReturnOfCapital contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 4380000 </nvr:EquityMethodInvestmentDividendsOrDistributionsReturnOfCapital> | |||||||||||||||||||||
<nvr:EquityMethodInvestmentDividendsOrDistributionsReturnOfCapital contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 2449000 </nvr:EquityMethodInvestmentDividendsOrDistributionsReturnOfCapital> | |||||||||||||||||||||
<nvr:EquityRelatedToConsolidatedJointVenture contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 15091000 </nvr:EquityRelatedToConsolidatedJointVenture> | |||||||||||||||||||||
<nvr:EquityRelatedToConsolidatedJointVenture contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 15141000 </nvr:EquityRelatedToConsolidatedJointVenture> | |||||||||||||||||||||
<nvr:ExpectedProductionOfFinishedLotsFromJointVentures contextRef="BalanceAsOf_31Mar2012" unitRef="Lot" decimals="0"> 6600 </nvr:ExpectedProductionOfFinishedLotsFromJointVentures> | |||||||||||||||||||||
<nvr:ExpirationDateOfRepurchaseAgreement contextRef="BalanceAsOf_31Mar2012"> 2012-08-01 </nvr:ExpirationDateOfRepurchaseAgreement> | |||||||||||||||||||||
<nvr:FairValueMeasurementAssumedGainLossFromLoanSale contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> -1663000 </nvr:FairValueMeasurementAssumedGainLossFromLoanSale> | |||||||||||||||||||||
<nvr:FairValueMeasurementAssumedGainLossFromLoanSale contextRef="ThreeMonthsEnded_31Mar2012_Mortgages_Held_For_Sale_Member" unitRef="USD" decimals="-3"> -724000 </nvr:FairValueMeasurementAssumedGainLossFromLoanSale> | |||||||||||||||||||||
<nvr:FairValueMeasurementAssumedGainLossFromLoanSale contextRef="ThreeMonthsEnded_31Mar2012_Interest_Rate_Lock_Commitments_Member" unitRef="USD" decimals="-3"> -939000 </nvr:FairValueMeasurementAssumedGainLossFromLoanSale> | |||||||||||||||||||||
<nvr:FairValueMeasurementsChangesInServicingRightsValue contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 1375000 </nvr:FairValueMeasurementsChangesInServicingRightsValue> | |||||||||||||||||||||
<nvr:FairValueMeasurementsChangesInServicingRightsValue contextRef="ThreeMonthsEnded_31Mar2012_Mortgages_Held_For_Sale_Member" unitRef="USD" decimals="-3"> 607000 </nvr:FairValueMeasurementsChangesInServicingRightsValue> | |||||||||||||||||||||
<nvr:FairValueMeasurementsChangesInServicingRightsValue contextRef="ThreeMonthsEnded_31Mar2012_Interest_Rate_Lock_Commitments_Member" unitRef="USD" decimals="-3"> 768000 </nvr:FairValueMeasurementsChangesInServicingRightsValue> | |||||||||||||||||||||
<nvr:FairValueMeasurementsInterestRateMovementEffect contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> -1150000 </nvr:FairValueMeasurementsInterestRateMovementEffect> | |||||||||||||||||||||
<nvr:FairValueMeasurementsInterestRateMovementEffect contextRef="ThreeMonthsEnded_31Mar2012_Mortgages_Held_For_Sale_Member" unitRef="USD" decimals="-3"> -900000 </nvr:FairValueMeasurementsInterestRateMovementEffect> | |||||||||||||||||||||
<nvr:FairValueMeasurementsInterestRateMovementEffect contextRef="ThreeMonthsEnded_31Mar2012_Interest_Rate_Lock_Commitments_Member" unitRef="USD" decimals="-3"> -250000 </nvr:FairValueMeasurementsInterestRateMovementEffect> | |||||||||||||||||||||
<nvr:FairValueMeasurementsSecurityPriceChangeIncludedInEarnings contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 917000 </nvr:FairValueMeasurementsSecurityPriceChangeIncludedInEarnings> | |||||||||||||||||||||
<nvr:FairValueMeasurementsSecurityPriceChangeIncludedInEarnings contextRef="ThreeMonthsEnded_31Mar2012_Forward_Contracts_Member" unitRef="USD" decimals="-3"> 917000 </nvr:FairValueMeasurementsSecurityPriceChangeIncludedInEarnings> | |||||||||||||||||||||
<nvr:FallOutRateOfMeasuringFairValueOfRateLockCommitments contextRef="BalanceAsOf_31Mar2012" unitRef="Pure" decimals="2"> 0.07 </nvr:FallOutRateOfMeasuringFairValueOfRateLockCommitments> | |||||||||||||||||||||
<nvr:FinishedLotsCommittedToPurchase contextRef="BalanceAsOf_31Dec2011" unitRef="Lot" decimals="INF"> 92 </nvr:FinishedLotsCommittedToPurchase> | |||||||||||||||||||||
<nvr:FinishedLotsCommittedToPurchase contextRef="BalanceAsOf_31Mar2012" unitRef="Lot" decimals="INF"> 100 </nvr:FinishedLotsCommittedToPurchase> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 24835000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2011_Homebuilding_Mid_Atlantic_Member" unitRef="USD" decimals="-3"> 25876000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2011_Homebuilding_Mid_East_Member" unitRef="USD" decimals="-3"> 1607000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2011_Homebuilding_North_East_Member" unitRef="USD" decimals="-3"> 1123000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2011_Homebuilding_South_East_Member" unitRef="USD" decimals="-3"> 2213000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2011_Reportable_Segments_Member" unitRef="USD" decimals="-3"> 37560000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2011_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 5963000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 18872000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 30958000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2012_Homebuilding_Mid_Atlantic_Member" unitRef="USD" decimals="-3"> 29086000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2012_Homebuilding_Mid_East_Member" unitRef="USD" decimals="-3"> 960000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2012_Homebuilding_North_East_Member" unitRef="USD" decimals="-3"> 2461000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2012_Homebuilding_South_East_Member" unitRef="USD" decimals="-3"> 3905000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2012_Reportable_Segments_Member" unitRef="USD" decimals="-3"> 45154000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2012_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 7976000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes contextRef="ThreeMonthsEnded_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 22982000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxes> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMortgageBanking contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 6741000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMortgageBanking> | |||||||||||||||||||||
<nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMortgageBanking contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 8742000 </nvr:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMortgageBanking> | |||||||||||||||||||||
<nvr:IncreaseDecreaseInAccountsPayableCustomerDepositsAndAccruedExpenses contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> -27036000 </nvr:IncreaseDecreaseInAccountsPayableCustomerDepositsAndAccruedExpenses> | |||||||||||||||||||||
<nvr:IncreaseDecreaseInAccountsPayableCustomerDepositsAndAccruedExpenses contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 32015000 </nvr:IncreaseDecreaseInAccountsPayableCustomerDepositsAndAccruedExpenses> | |||||||||||||||||||||
<nvr:InvestmentsInUnconsolidatedJointVentures contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 73700000 </nvr:InvestmentsInUnconsolidatedJointVentures> | |||||||||||||||||||||
<nvr:JointVentureLotsNotUnderContractWithCompany contextRef="BalanceAsOf_31Mar2012" unitRef="Lot" decimals="0"> 2700 </nvr:JointVentureLotsNotUnderContractWithCompany> | |||||||||||||||||||||
<nvr:LandUnderDevelopmentRelatedToConsolidatedJointVenture contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 19092000 </nvr:LandUnderDevelopmentRelatedToConsolidatedJointVenture> | |||||||||||||||||||||
<nvr:LandUnderDevelopmentRelatedToConsolidatedJointVenture contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 16131000 </nvr:LandUnderDevelopmentRelatedToConsolidatedJointVenture> | |||||||||||||||||||||
<nvr:LettersOfCreditRelatedToLots contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 3200000 </nvr:LettersOfCreditRelatedToLots> | |||||||||||||||||||||
<nvr:LettersOfCreditRelatedToLots contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 3400000 </nvr:LettersOfCreditRelatedToLots> | |||||||||||||||||||||
<nvr:LossReserveOnContractLandDeposits contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 70333000 </nvr:LossReserveOnContractLandDeposits> | |||||||||||||||||||||
<nvr:LossReserveOnContractLandDeposits contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 69062000 </nvr:LossReserveOnContractLandDeposits> | |||||||||||||||||||||
<nvr:LotsAndHousingUnitsCoveredUnderSalesAgreementsWithCustomers contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 363833000 </nvr:LotsAndHousingUnitsCoveredUnderSalesAgreementsWithCustomers> | |||||||||||||||||||||
<nvr:LotsAndHousingUnitsCoveredUnderSalesAgreementsWithCustomers contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 468434000 </nvr:LotsAndHousingUnitsCoveredUnderSalesAgreementsWithCustomers> | |||||||||||||||||||||
<nvr:LotsControlledByCompany contextRef="BalanceAsOf_31Dec2011" unitRef="Lot" decimals="0"> 48200 </nvr:LotsControlledByCompany> | |||||||||||||||||||||
<nvr:LotsControlledByCompany contextRef="BalanceAsOf_31Mar2012" unitRef="Lot" decimals="0"> 48400 </nvr:LotsControlledByCompany> | |||||||||||||||||||||
<nvr:MaximumPercentageOfDepositsRequiredUnderPurchaseAgreements contextRef="BalanceAsOf_31Mar2012" unitRef="Pure" decimals="INF"> 0.10 </nvr:MaximumPercentageOfDepositsRequiredUnderPurchaseAgreements> | |||||||||||||||||||||
<nvr:NetBorrowingsUnderNotesPayableAndCreditLines contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> -15028000 </nvr:NetBorrowingsUnderNotesPayableAndCreditLines> | |||||||||||||||||||||
<nvr:NetBorrowingsUnderNotesPayableAndCreditLines contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> -426000 </nvr:NetBorrowingsUnderNotesPayableAndCreditLines> | |||||||||||||||||||||
<nvr:NetPreTaxRecoveryOfContractLandDeposits contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 1000000 </nvr:NetPreTaxRecoveryOfContractLandDeposits> | |||||||||||||||||||||
<nvr:NonRecourseDebtRelatedToConsolidatedJointVenture contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 4983000 </nvr:NonRecourseDebtRelatedToConsolidatedJointVenture> | |||||||||||||||||||||
<nvr:NonRecourseDebtRelatedToConsolidatedJointVenture contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 2348000 </nvr:NonRecourseDebtRelatedToConsolidatedJointVenture> | |||||||||||||||||||||
<nvr:NonRecourseDebtRelatedToConsolidatedVariableInterestEntities contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 4983000 </nvr:NonRecourseDebtRelatedToConsolidatedVariableInterestEntities> | |||||||||||||||||||||
<nvr:NonRecourseDebtRelatedToConsolidatedVariableInterestEntities contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 2348000 </nvr:NonRecourseDebtRelatedToConsolidatedVariableInterestEntities> | |||||||||||||||||||||
<nvr:NumberOfFinishedLotsIntendedToBeDevelopedFromRawParcelsOfLand contextRef="BalanceAsOf_31Mar2012" unitRef="Lot" decimals="0"> 850 </nvr:NumberOfFinishedLotsIntendedToBeDevelopedFromRawParcelsOfLand> | |||||||||||||||||||||
<nvr:NumberOfJointVentures contextRef="BalanceAsOf_31Mar2012" unitRef="Joint_Venture" decimals="INF"> 4 </nvr:NumberOfJointVentures> | |||||||||||||||||||||
<nvr:NumberOfJointVenturesCompanyIsNotPrimaryBeneficiary contextRef="BalanceAsOf_31Mar2012" unitRef="Joint_Venture" decimals="INF"> 3 </nvr:NumberOfJointVenturesCompanyIsNotPrimaryBeneficiary> | |||||||||||||||||||||
<nvr:NumberOfRawParcelsOfLandAcquired contextRef="BalanceAsOf_31Mar2012" unitRef="Parcel_of_Land" decimals="INF"> 4 </nvr:NumberOfRawParcelsOfLandAcquired> | |||||||||||||||||||||
<nvr:NumberOfReportableBusinessSegments contextRef="BalanceAsOf_31Mar2012_Residential_Mortgage_Member" unitRef="Segment" decimals="INF"> 1 </nvr:NumberOfReportableBusinessSegments> | |||||||||||||||||||||
<nvr:NumberOfReportableBusinessSegments contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="Segment" decimals="INF"> 4 </nvr:NumberOfReportableBusinessSegments> | |||||||||||||||||||||
<nvr:OtherAssetsRelatedToConsolidatedJointVenture contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 125000 </nvr:OtherAssetsRelatedToConsolidatedJointVenture> | |||||||||||||||||||||
<nvr:OtherAssetsRelatedToConsolidatedJointVenture contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 126000 </nvr:OtherAssetsRelatedToConsolidatedJointVenture> | |||||||||||||||||||||
<nvr:PowerOfDevelopersEquityHoldersToDirectOperatingActivitiesOfDevelopmentEntity contextRef="BalanceAsOf_31Mar2012" unitRef="Pure" decimals="2"> 1.00 </nvr:PowerOfDevelopersEquityHoldersToDirectOperatingActivitiesOfDevelopmentEntity> | |||||||||||||||||||||
<nvr:RepurchaseFacilityBorrowingBaseLimitations contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 0 </nvr:RepurchaseFacilityBorrowingBaseLimitations> | |||||||||||||||||||||
<nvr:RepurchaseFacilityBorrowingCapacity contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 25000000 </nvr:RepurchaseFacilityBorrowingCapacity> | |||||||||||||||||||||
<nvr:RestrictedCashRelatedToConsolidatedJointVenture contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 503000 </nvr:RestrictedCashRelatedToConsolidatedJointVenture> | |||||||||||||||||||||
<nvr:RestrictedCashRelatedToConsolidatedJointVenture contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 513000 </nvr:RestrictedCashRelatedToConsolidatedJointVenture> | |||||||||||||||||||||
<nvr:SegmentReportingAssetReconcilingItemNetAmount contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 668704000 </nvr:SegmentReportingAssetReconcilingItemNetAmount> | |||||||||||||||||||||
<nvr:SegmentReportingAssetReconcilingItemNetAmount contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 759641000 </nvr:SegmentReportingAssetReconcilingItemNetAmount> | |||||||||||||||||||||
<nvr:SegmentReportingAssetReconcilingItemsAmount contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 38481000 </nvr:SegmentReportingAssetReconcilingItemsAmount> | |||||||||||||||||||||
<nvr:SegmentReportingAssetReconcilingItemsAmount contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 37465000 </nvr:SegmentReportingAssetReconcilingItemsAmount> | |||||||||||||||||||||
<nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount contextRef="ThreeMonthsEnded_31Mar2011_Consolidation_Adjustments_And_Other_Member" unitRef="USD" decimals="-3"> 5125000 </nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount> | |||||||||||||||||||||
<nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount contextRef="ThreeMonthsEnded_31Mar2011_Contract_Land_Deposit_Impairments_Member" unitRef="USD" decimals="-3"> -1130000 </nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount> | |||||||||||||||||||||
<nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount contextRef="ThreeMonthsEnded_31Mar2011_Corporate_Capital_Allocation_Member" unitRef="USD" decimals="-3"> 15423000 </nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount> | |||||||||||||||||||||
<nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount contextRef="ThreeMonthsEnded_31Mar2011_Corporate_Interest_Expense_Member" unitRef="USD" decimals="-3"> -103000 </nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount> | |||||||||||||||||||||
<nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount contextRef="ThreeMonthsEnded_31Mar2011_Unallocated_Corporate_Overhead_Member" unitRef="USD" decimals="-3"> -16460000 </nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount> | |||||||||||||||||||||
<nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount contextRef="ThreeMonthsEnded_31Mar2011_Material_Reconciling_Items_Member" unitRef="USD" decimals="-3"> -12725000 </nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount> | |||||||||||||||||||||
<nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount contextRef="ThreeMonthsEnded_31Mar2012_Consolidation_Adjustments_And_Other_Member" unitRef="USD" decimals="-3"> 827000 </nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount> | |||||||||||||||||||||
<nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount contextRef="ThreeMonthsEnded_31Mar2012_Contract_Land_Deposit_Impairments_Member" unitRef="USD" decimals="-3"> 1309000 </nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount> | |||||||||||||||||||||
<nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount contextRef="ThreeMonthsEnded_31Mar2012_Corporate_Capital_Allocation_Member" unitRef="USD" decimals="-3"> 18972000 </nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount> | |||||||||||||||||||||
<nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount contextRef="ThreeMonthsEnded_31Mar2012_Corporate_Interest_Expense_Member" unitRef="USD" decimals="-3"> -61000 </nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount> | |||||||||||||||||||||
<nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount contextRef="ThreeMonthsEnded_31Mar2012_Unallocated_Corporate_Overhead_Member" unitRef="USD" decimals="-3"> -18803000 </nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount> | |||||||||||||||||||||
<nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount contextRef="ThreeMonthsEnded_31Mar2012_Material_Reconciling_Items_Member" unitRef="USD" decimals="-3"> -14196000 </nvr:SegmentReportingReconcilingItemsForOperatingProfitLossFromSegmentToConsolidatedAmount> | |||||||||||||||||||||
<nvr:UnsoldLotsAndHousingUnits contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 82578000 </nvr:UnsoldLotsAndHousingUnits> | |||||||||||||||||||||
<nvr:UnsoldLotsAndHousingUnits contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 88571000 </nvr:UnsoldLotsAndHousingUnits> | |||||||||||||||||||||
<nvr:ValuationAllowanceOfContractLandDepositsAssets contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 70300000 </nvr:ValuationAllowanceOfContractLandDepositsAssets> | |||||||||||||||||||||
<nvr:ValuationAllowanceOfContractLandDepositsAssets contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 69100000 </nvr:ValuationAllowanceOfContractLandDepositsAssets> | |||||||||||||||||||||
<nvr:VariableInterestEntityConsolidatedCarryingAmountLiabilitiesAndEquity contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 20182000 </nvr:VariableInterestEntityConsolidatedCarryingAmountLiabilitiesAndEquity> | |||||||||||||||||||||
<nvr:VariableInterestEntityConsolidatedCarryingAmountLiabilitiesAndEquity contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 17546000 </nvr:VariableInterestEntityConsolidatedCarryingAmountLiabilitiesAndEquity> | |||||||||||||||||||||
<us-gaap:AccountsPayableCurrentAndNoncurrent contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 125649000 </us-gaap:AccountsPayableCurrentAndNoncurrent> | |||||||||||||||||||||
<us-gaap:AccountsPayableCurrentAndNoncurrent contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 137066000 </us-gaap:AccountsPayableCurrentAndNoncurrent> | |||||||||||||||||||||
<us-gaap:AccountsReceivableNet contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 6789000 </us-gaap:AccountsReceivableNet> | |||||||||||||||||||||
<us-gaap:AccountsReceivableNet contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 6028000 </us-gaap:AccountsReceivableNet> | |||||||||||||||||||||
<us-gaap:AccruedLiabilitiesCurrentAndNoncurrent contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 185423000 </us-gaap:AccruedLiabilitiesCurrentAndNoncurrent> | |||||||||||||||||||||
<us-gaap:AccruedLiabilitiesCurrentAndNoncurrent contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 186024000 </us-gaap:AccruedLiabilitiesCurrentAndNoncurrent> | |||||||||||||||||||||
<us-gaap:AdditionalPaidInCapitalCommonStock contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 1072779000 </us-gaap:AdditionalPaidInCapitalCommonStock> | |||||||||||||||||||||
<us-gaap:AdditionalPaidInCapitalCommonStock contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 1074215000 </us-gaap:AdditionalPaidInCapitalCommonStock> | |||||||||||||||||||||
<us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 16440000 </us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue> | |||||||||||||||||||||
<us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue contextRef="ThreeMonthsEnded_31Mar2012_Additional_Paid_In_Capital_Member" unitRef="USD" decimals="-3"> 16440000 </us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue> | |||||||||||||||||||||
<us-gaap:AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 876000 </us-gaap:AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation contextRef="ThreeMonthsEnded_31Mar2012_Additional_Paid_In_Capital_Member" unitRef="USD" decimals="-3"> 876000 </us-gaap:AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="ThreeMonthsEnded_31Mar2011" unitRef="Shares" decimals="INF"> 442095 </us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount> | |||||||||||||||||||||
<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="Jan-01-2012_Mar-31-2012" unitRef="Shares" decimals="INF"> 470217 </us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 1779485000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Dec2011_Homebuilding_Mid_Atlantic_Member" unitRef="USD" decimals="-3"> 626157000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Dec2011_Homebuilding_Mid_East_Member" unitRef="USD" decimals="-3"> 94593000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Dec2011_Homebuilding_North_East_Member" unitRef="USD" decimals="-3"> 55948000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Dec2011_Homebuilding_South_East_Member" unitRef="USD" decimals="-3"> 63263000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Dec2011_Reportable_Segments_Member" unitRef="USD" decimals="-3"> 1110781000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Dec2011_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 278167000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 1501318000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 1850912000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Mar2012_Homebuilding_Mid_Atlantic_Member" unitRef="USD" decimals="-3"> 697590000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Mar2012_Homebuilding_Mid_East_Member" unitRef="USD" decimals="-3"> 116002000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Mar2012_Homebuilding_North_East_Member" unitRef="USD" decimals="-3"> 69745000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Mar2012_Homebuilding_South_East_Member" unitRef="USD" decimals="-3"> 73439000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Mar2012_Reportable_Segments_Member" unitRef="USD" decimals="-3"> 1091271000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Mar2012_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 141842000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:Assets contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 1709070000 </us-gaap:Assets> | |||||||||||||||||||||
<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="-3"> 1193750000 </us-gaap:CashAndCashEquivalentsAtCarryingValue> | |||||||||||||||||||||
<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="BalanceAsOf_31Mar2011" unitRef="USD" decimals="-3"> 1220295000 </us-gaap:CashAndCashEquivalentsAtCarryingValue> | |||||||||||||||||||||
<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 480794000 </us-gaap:CashAndCashEquivalentsAtCarryingValue> | |||||||||||||||||||||
<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="BalanceAsOf_31Dec2011_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 4766000 </us-gaap:CashAndCashEquivalentsAtCarryingValue> | |||||||||||||||||||||
<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 475566000 </us-gaap:CashAndCashEquivalentsAtCarryingValue> | |||||||||||||||||||||
<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 575159000 </us-gaap:CashAndCashEquivalentsAtCarryingValue> | |||||||||||||||||||||
<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="BalanceAsOf_31Mar2012_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 6461000 </us-gaap:CashAndCashEquivalentsAtCarryingValue> | |||||||||||||||||||||
<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 567922000 </us-gaap:CashAndCashEquivalentsAtCarryingValue> | |||||||||||||||||||||
<us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 26545000 </us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease> | |||||||||||||||||||||
<us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 94365000 </us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease> | |||||||||||||||||||||
<us-gaap:CommitmentsAndContingencies xsi:nil="true" contextRef="BalanceAsOf_31Dec2011" unitRef="USD"/> | |||||||||||||||||||||
<us-gaap:CommitmentsAndContingencies xsi:nil="true" contextRef="BalanceAsOf_31Mar2012" unitRef="USD"/> | |||||||||||||||||||||
<us-gaap:CommonStockParOrStatedValuePerShare contextRef="BalanceAsOf_31Dec2011" unitRef="USDEPS" decimals="INF"> 0.01 </us-gaap:CommonStockParOrStatedValuePerShare> | |||||||||||||||||||||
<us-gaap:CommonStockParOrStatedValuePerShare contextRef="BalanceAsOf_31Mar2012" unitRef="USDEPS" decimals="INF"> 0.01 </us-gaap:CommonStockParOrStatedValuePerShare> | |||||||||||||||||||||
<us-gaap:CommonStockSharesAuthorized contextRef="BalanceAsOf_31Dec2011" unitRef="Shares" decimals="INF"> 60000000 </us-gaap:CommonStockSharesAuthorized> | |||||||||||||||||||||
<us-gaap:CommonStockSharesAuthorized contextRef="BalanceAsOf_31Mar2012" unitRef="Shares" decimals="INF"> 60000000 </us-gaap:CommonStockSharesAuthorized> | |||||||||||||||||||||
<us-gaap:CommonStockSharesHeldInEmployeeTrust contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 25581000 </us-gaap:CommonStockSharesHeldInEmployeeTrust> | |||||||||||||||||||||
<us-gaap:CommonStockSharesHeldInEmployeeTrust contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 25331000 </us-gaap:CommonStockSharesHeldInEmployeeTrust> | |||||||||||||||||||||
<us-gaap:CommonStockSharesIssued contextRef="BalanceAsOf_31Dec2011" unitRef="Shares" decimals="INF"> 20556198 </us-gaap:CommonStockSharesIssued> | |||||||||||||||||||||
<us-gaap:CommonStockSharesIssued contextRef="BalanceAsOf_31Mar2012" unitRef="Shares" decimals="INF"> 20556198 </us-gaap:CommonStockSharesIssued> | |||||||||||||||||||||
<us-gaap:CommonStockValue contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 206000 </us-gaap:CommonStockValue> | |||||||||||||||||||||
<us-gaap:CommonStockValue contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 206000 </us-gaap:CommonStockValue> | |||||||||||||||||||||
<us-gaap:CustomerAdvancesAndDeposits contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 61223000 </us-gaap:CustomerAdvancesAndDeposits> | |||||||||||||||||||||
<us-gaap:CustomerAdvancesAndDeposits contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 79374000 </us-gaap:CustomerAdvancesAndDeposits> | |||||||||||||||||||||
<us-gaap:DeferredCompensationLiabilityCurrentAndNoncurrent contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 25581000 </us-gaap:DeferredCompensationLiabilityCurrentAndNoncurrent> | |||||||||||||||||||||
<us-gaap:DeferredCompensationLiabilityCurrentAndNoncurrent contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 25331000 </us-gaap:DeferredCompensationLiabilityCurrentAndNoncurrent> | |||||||||||||||||||||
<us-gaap:DeferredTaxAssetsNet contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 155881000 </us-gaap:DeferredTaxAssetsNet> | |||||||||||||||||||||
<us-gaap:DeferredTaxAssetsNet contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 156843000 </us-gaap:DeferredTaxAssetsNet> | |||||||||||||||||||||
<us-gaap:DepositsAssets contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 131930000 </us-gaap:DepositsAssets> | |||||||||||||||||||||
<us-gaap:DepositsAssets contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 131930000 </us-gaap:DepositsAssets> | |||||||||||||||||||||
<us-gaap:DepositsAssets contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 140328000 </us-gaap:DepositsAssets> | |||||||||||||||||||||
<us-gaap:DepositsAssets contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 140328000 </us-gaap:DepositsAssets> | |||||||||||||||||||||
<us-gaap:DepreciationDepletionAndAmortization contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 1598000 </us-gaap:DepreciationDepletionAndAmortization> | |||||||||||||||||||||
<us-gaap:DepreciationDepletionAndAmortization contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 1805000 </us-gaap:DepreciationDepletionAndAmortization> | |||||||||||||||||||||
<us-gaap:DerivativeInstrumentsGainLossRecognizedInIncomeNet contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> -1017000 </us-gaap:DerivativeInstrumentsGainLossRecognizedInIncomeNet> | |||||||||||||||||||||
<us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue contextRef="BalanceAsOf_31Mar2012_Forward_Contracts_Member_Other_Assets_Member" unitRef="USD" decimals="-3"> 917000 </us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue> | |||||||||||||||||||||
<us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> -450000 </us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet> | |||||||||||||||||||||
<us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue contextRef="BalanceAsOf_31Mar2012_Interest_Rate_Lock_Commitments_Member_Accounts_Payable_And_Other_Liabilities_Member" unitRef="USD" decimals="-3"> 421000 </us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue> | |||||||||||||||||||||
<us-gaap:EarningsPerShareBasic contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USDEPS" decimals="2"> 2.61 </us-gaap:EarningsPerShareBasic> | |||||||||||||||||||||
<us-gaap:EarningsPerShareBasic contextRef="Jan-01-2012_Mar-31-2012" unitRef="USDEPS" decimals="2"> 3.99 </us-gaap:EarningsPerShareBasic> | |||||||||||||||||||||
<us-gaap:EarningsPerShareDiluted contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USDEPS" decimals="2"> 2.52 </us-gaap:EarningsPerShareDiluted> | |||||||||||||||||||||
<us-gaap:EarningsPerShareDiluted contextRef="Jan-01-2012_Mar-31-2012" unitRef="USDEPS" decimals="2"> 3.90 </us-gaap:EarningsPerShareDiluted> | |||||||||||||||||||||
<us-gaap:ExcessTaxBenefitFromShareBasedCompensationFinancingActivities contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 17811000 </us-gaap:ExcessTaxBenefitFromShareBasedCompensationFinancingActivities> | |||||||||||||||||||||
<us-gaap:ExcessTaxBenefitFromShareBasedCompensationFinancingActivities contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 876000 </us-gaap:ExcessTaxBenefitFromShareBasedCompensationFinancingActivities> | |||||||||||||||||||||
<us-gaap:ExcessTaxBenefitFromShareBasedCompensationOperatingActivities contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 17811000 </us-gaap:ExcessTaxBenefitFromShareBasedCompensationOperatingActivities> | |||||||||||||||||||||
<us-gaap:ExcessTaxBenefitFromShareBasedCompensationOperatingActivities contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 876000 </us-gaap:ExcessTaxBenefitFromShareBasedCompensationOperatingActivities> | |||||||||||||||||||||
<us-gaap:FeesAndCommissionsMortgageBanking contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 11760000 </us-gaap:FeesAndCommissionsMortgageBanking> | |||||||||||||||||||||
<us-gaap:FeesAndCommissionsMortgageBanking contextRef="ThreeMonthsEnded_31Mar2011_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 11760000 </us-gaap:FeesAndCommissionsMortgageBanking> | |||||||||||||||||||||
<us-gaap:FeesAndCommissionsMortgageBanking contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 14297000 </us-gaap:FeesAndCommissionsMortgageBanking> | |||||||||||||||||||||
<us-gaap:FeesAndCommissionsMortgageBanking contextRef="ThreeMonthsEnded_31Mar2012_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 14297000 </us-gaap:FeesAndCommissionsMortgageBanking> | |||||||||||||||||||||
<us-gaap:GainLossOnSaleOfMortgageLoans contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 9130000 </us-gaap:GainLossOnSaleOfMortgageLoans> | |||||||||||||||||||||
<us-gaap:GainLossOnSaleOfMortgageLoans contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 11116000 </us-gaap:GainLossOnSaleOfMortgageLoans> | |||||||||||||||||||||
<us-gaap:GeneralAndAdministrativeExpense contextRef="ThreeMonthsEnded_31Mar2011_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 6677000 </us-gaap:GeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:GeneralAndAdministrativeExpense contextRef="ThreeMonthsEnded_31Mar2012_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 7913000 </us-gaap:GeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:HomeBuildingCosts contextRef="ThreeMonthsEnded_31Mar2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 417920000 </us-gaap:HomeBuildingCosts> | |||||||||||||||||||||
<us-gaap:HomeBuildingCosts contextRef="ThreeMonthsEnded_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 491829000 </us-gaap:HomeBuildingCosts> | |||||||||||||||||||||
<us-gaap:HomeBuildingRevenue contextRef="ThreeMonthsEnded_31Mar2011_Homebuilding_Mid_Atlantic_Member" unitRef="USD" decimals="-3"> 312940000 </us-gaap:HomeBuildingRevenue> | |||||||||||||||||||||
<us-gaap:HomeBuildingRevenue contextRef="ThreeMonthsEnded_31Mar2011_Homebuilding_Mid_East_Member" unitRef="USD" decimals="-3"> 98152000 </us-gaap:HomeBuildingRevenue> | |||||||||||||||||||||
<us-gaap:HomeBuildingRevenue contextRef="ThreeMonthsEnded_31Mar2011_Homebuilding_North_East_Member" unitRef="USD" decimals="-3"> 39193000 </us-gaap:HomeBuildingRevenue> | |||||||||||||||||||||
<us-gaap:HomeBuildingRevenue contextRef="ThreeMonthsEnded_31Mar2011_Homebuilding_South_East_Member" unitRef="USD" decimals="-3"> 52459000 </us-gaap:HomeBuildingRevenue> | |||||||||||||||||||||
<us-gaap:HomeBuildingRevenue contextRef="ThreeMonthsEnded_31Mar2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 502744000 </us-gaap:HomeBuildingRevenue> | |||||||||||||||||||||
<us-gaap:HomeBuildingRevenue contextRef="ThreeMonthsEnded_31Mar2012_Homebuilding_Mid_Atlantic_Member" unitRef="USD" decimals="-3"> 360811000 </us-gaap:HomeBuildingRevenue> | |||||||||||||||||||||
<us-gaap:HomeBuildingRevenue contextRef="ThreeMonthsEnded_31Mar2012_Homebuilding_Mid_East_Member" unitRef="USD" decimals="-3"> 106282000 </us-gaap:HomeBuildingRevenue> | |||||||||||||||||||||
<us-gaap:HomeBuildingRevenue contextRef="ThreeMonthsEnded_31Mar2012_Homebuilding_North_East_Member" unitRef="USD" decimals="-3"> 52200000 </us-gaap:HomeBuildingRevenue> | |||||||||||||||||||||
<us-gaap:HomeBuildingRevenue contextRef="ThreeMonthsEnded_31Mar2012_Homebuilding_South_East_Member" unitRef="USD" decimals="-3"> 66902000 </us-gaap:HomeBuildingRevenue> | |||||||||||||||||||||
<us-gaap:HomeBuildingRevenue contextRef="ThreeMonthsEnded_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 586195000 </us-gaap:HomeBuildingRevenue> | |||||||||||||||||||||
<us-gaap:ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 0 </us-gaap:ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill> | |||||||||||||||||||||
<us-gaap:IncomeTaxesPaidNet contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 10635000 </us-gaap:IncomeTaxesPaidNet> | |||||||||||||||||||||
<us-gaap:IncomeTaxesPaidNet contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> -376000 </us-gaap:IncomeTaxesPaidNet> | |||||||||||||||||||||
<us-gaap:IncomeTaxExpenseBenefit contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 9661000 </us-gaap:IncomeTaxExpenseBenefit> | |||||||||||||||||||||
<us-gaap:IncomeTaxExpenseBenefit contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 10835000 </us-gaap:IncomeTaxExpenseBenefit> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInDepositsOutstanding contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 17315000 </us-gaap:IncreaseDecreaseInDepositsOutstanding> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInDepositsOutstanding contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 7361000 </us-gaap:IncreaseDecreaseInDepositsOutstanding> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInInventories contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 61423000 </us-gaap:IncreaseDecreaseInInventories> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInInventories contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 99635000 </us-gaap:IncreaseDecreaseInInventories> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> -3501000 </us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 8611000 </us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInReceivables contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> -101000 </us-gaap:IncreaseDecreaseInReceivables> | |||||||||||||||||||||
<us-gaap:IncreaseDecreaseInReceivables contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> -788000 </us-gaap:IncreaseDecreaseInReceivables> | |||||||||||||||||||||
<us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements contextRef="ThreeMonthsEnded_31Mar2011" unitRef="Shares" decimals="INF"> 197000 </us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements> | |||||||||||||||||||||
<us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements contextRef="Jan-01-2012_Mar-31-2012" unitRef="Shares" decimals="INF"> 115000 </us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements> | |||||||||||||||||||||
<us-gaap:InterestAndFeeIncomeLoansHeldForSaleMortgages contextRef="ThreeMonthsEnded_31Mar2011_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 1115000 </us-gaap:InterestAndFeeIncomeLoansHeldForSaleMortgages> | |||||||||||||||||||||
<us-gaap:InterestAndFeeIncomeLoansHeldForSaleMortgages contextRef="ThreeMonthsEnded_31Mar2012_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 1665000 </us-gaap:InterestAndFeeIncomeLoansHeldForSaleMortgages> | |||||||||||||||||||||
<us-gaap:InterestExpense contextRef="ThreeMonthsEnded_31Mar2011_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 274000 </us-gaap:InterestExpense> | |||||||||||||||||||||
<us-gaap:InterestExpense contextRef="ThreeMonthsEnded_31Mar2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 222000 </us-gaap:InterestExpense> | |||||||||||||||||||||
<us-gaap:InterestExpense contextRef="ThreeMonthsEnded_31Mar2012_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 149000 </us-gaap:InterestExpense> | |||||||||||||||||||||
<us-gaap:InterestExpense contextRef="ThreeMonthsEnded_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 116000 </us-gaap:InterestExpense> | |||||||||||||||||||||
<us-gaap:InterestPaidNet contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 513000 </us-gaap:InterestPaidNet> | |||||||||||||||||||||
<us-gaap:InterestPaidNet contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 318000 </us-gaap:InterestPaidNet> | |||||||||||||||||||||
<us-gaap:InventoryOperativeBuilders contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 533150000 </us-gaap:InventoryOperativeBuilders> | |||||||||||||||||||||
<us-gaap:InventoryOperativeBuilders contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 635746000 </us-gaap:InventoryOperativeBuilders> | |||||||||||||||||||||
<us-gaap:InventoryRealEstateLandAndLandDevelopmentCosts contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 78045000 </us-gaap:InventoryRealEstateLandAndLandDevelopmentCosts> | |||||||||||||||||||||
<us-gaap:InventoryRealEstateLandAndLandDevelopmentCosts contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 70225000 </us-gaap:InventoryRealEstateLandAndLandDevelopmentCosts> | |||||||||||||||||||||
<us-gaap:InventoryRealEstateLandAndLandDevelopmentCosts contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 70225000 </us-gaap:InventoryRealEstateLandAndLandDevelopmentCosts> | |||||||||||||||||||||
<us-gaap:InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 87700000 </us-gaap:InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures> | |||||||||||||||||||||
<us-gaap:Liabilities contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 404686000 </us-gaap:Liabilities> | |||||||||||||||||||||
<us-gaap:Liabilities contextRef="BalanceAsOf_31Dec2011_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 26395000 </us-gaap:Liabilities> | |||||||||||||||||||||
<us-gaap:Liabilities contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 378291000 </us-gaap:Liabilities> | |||||||||||||||||||||
<us-gaap:Liabilities contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 432671000 </us-gaap:Liabilities> | |||||||||||||||||||||
<us-gaap:Liabilities contextRef="BalanceAsOf_31Mar2012_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 26731000 </us-gaap:Liabilities> | |||||||||||||||||||||
<us-gaap:Liabilities contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 405940000 </us-gaap:Liabilities> | |||||||||||||||||||||
<us-gaap:LiabilitiesAndStockholdersEquity contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 1779485000 </us-gaap:LiabilitiesAndStockholdersEquity> | |||||||||||||||||||||
<us-gaap:LiabilitiesAndStockholdersEquity contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 1850912000 </us-gaap:LiabilitiesAndStockholdersEquity> | |||||||||||||||||||||
<us-gaap:LoansHeldForSaleMortgages contextRef="BalanceAsOf_31Dec2011_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 252352000 </us-gaap:LoansHeldForSaleMortgages> | |||||||||||||||||||||
<us-gaap:LoansHeldForSaleMortgages contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 113723000 </us-gaap:LoansHeldForSaleMortgages> | |||||||||||||||||||||
<us-gaap:LoansHeldForSaleMortgages contextRef="BalanceAsOf_31Mar2012_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 113723000 </us-gaap:LoansHeldForSaleMortgages> | |||||||||||||||||||||
<us-gaap:MortgageLoansOnRealEstateFaceAmountOfMortgages contextRef="BalanceAsOf_31Mar2012_Mortgages_Held_For_Sale_Member" unitRef="USD" decimals="-3"> 114740000 </us-gaap:MortgageLoansOnRealEstateFaceAmountOfMortgages> | |||||||||||||||||||||
<us-gaap:MortgageLoansOnRealEstateFaceAmountOfMortgages contextRef="BalanceAsOf_31Mar2012_Forward_Contracts_Member" unitRef="USD" decimals="-3"> 254003000 </us-gaap:MortgageLoansOnRealEstateFaceAmountOfMortgages> | |||||||||||||||||||||
<us-gaap:MortgageLoansOnRealEstateFaceAmountOfMortgages contextRef="BalanceAsOf_31Mar2012_Interest_Rate_Lock_Commitments_Member" unitRef="USD" decimals="-3"> 166437000 </us-gaap:MortgageLoansOnRealEstateFaceAmountOfMortgages> | |||||||||||||||||||||
<us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 32040000 </us-gaap:NetCashProvidedByUsedInFinancingActivities> | |||||||||||||||||||||
<us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 3818000 </us-gaap:NetCashProvidedByUsedInFinancingActivities> | |||||||||||||||||||||
<us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 3538000 </us-gaap:NetCashProvidedByUsedInInvestingActivities> | |||||||||||||||||||||
<us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> -291000 </us-gaap:NetCashProvidedByUsedInInvestingActivities> | |||||||||||||||||||||
<us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> -9033000 </us-gaap:NetCashProvidedByUsedInOperatingActivities> | |||||||||||||||||||||
<us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 90838000 </us-gaap:NetCashProvidedByUsedInOperatingActivities> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 15174000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 20123000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss contextRef="ThreeMonthsEnded_31Mar2012_Retained_Earnings_Member" unitRef="USD" decimals="-3"> 20123000 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="ThreeMonthsEnded_31Mar2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 19094000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:OperatingIncomeLoss contextRef="ThreeMonthsEnded_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 23098000 </us-gaap:OperatingIncomeLoss> | |||||||||||||||||||||
<us-gaap:OtherAssets contextRef="BalanceAsOf_31Dec2011_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 12008000 </us-gaap:OtherAssets> | |||||||||||||||||||||
<us-gaap:OtherAssets contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 268878000 </us-gaap:OtherAssets> | |||||||||||||||||||||
<us-gaap:OtherAssets contextRef="BalanceAsOf_31Mar2012_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 12601000 </us-gaap:OtherAssets> | |||||||||||||||||||||
<us-gaap:OtherAssets contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 275664000 </us-gaap:OtherAssets> | |||||||||||||||||||||
<us-gaap:OtherIncome contextRef="ThreeMonthsEnded_31Mar2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 1458000 </us-gaap:OtherIncome> | |||||||||||||||||||||
<us-gaap:OtherIncome contextRef="ThreeMonthsEnded_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 908000 </us-gaap:OtherIncome> | |||||||||||||||||||||
<us-gaap:OtherOperatingIncome contextRef="ThreeMonthsEnded_31Mar2011_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 39000 </us-gaap:OtherOperatingIncome> | |||||||||||||||||||||
<us-gaap:OtherOperatingIncome contextRef="ThreeMonthsEnded_31Mar2012_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 76000 </us-gaap:OtherOperatingIncome> | |||||||||||||||||||||
<us-gaap:PaymentsForOriginationOfMortgageLoansHeldForSale contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 335952000 </us-gaap:PaymentsForOriginationOfMortgageLoansHeldForSale> | |||||||||||||||||||||
<us-gaap:PaymentsForOriginationOfMortgageLoansHeldForSale contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 384332000 </us-gaap:PaymentsForOriginationOfMortgageLoansHeldForSale> | |||||||||||||||||||||
<us-gaap:PaymentsForRepurchaseOfCommonStock contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 63408000 </us-gaap:PaymentsForRepurchaseOfCommonStock> | |||||||||||||||||||||
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 1012000 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment> | |||||||||||||||||||||
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 2895000 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment> | |||||||||||||||||||||
<us-gaap:PostconfirmationReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssets contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 48927000 </us-gaap:PostconfirmationReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssets> | |||||||||||||||||||||
<us-gaap:PostconfirmationReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssets contextRef="BalanceAsOf_31Dec2011_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 7347000 </us-gaap:PostconfirmationReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssets> | |||||||||||||||||||||
<us-gaap:PostconfirmationReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssets contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 41580000 </us-gaap:PostconfirmationReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssets> | |||||||||||||||||||||
<us-gaap:PostconfirmationReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssets contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 48927000 </us-gaap:PostconfirmationReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssets> | |||||||||||||||||||||
<us-gaap:PostconfirmationReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssets contextRef="BalanceAsOf_31Mar2012_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 7347000 </us-gaap:PostconfirmationReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssets> | |||||||||||||||||||||
<us-gaap:PostconfirmationReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssets contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 41580000 </us-gaap:PostconfirmationReorganizationValueInExcessOfAmountsAllocableToIdentifiableAssets> | |||||||||||||||||||||
<us-gaap:ProceedsFromCollectionOfMortgageLoansHeldForSale contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 1317000 </us-gaap:ProceedsFromCollectionOfMortgageLoansHeldForSale> | |||||||||||||||||||||
<us-gaap:ProceedsFromCollectionOfMortgageLoansHeldForSale contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 1458000 </us-gaap:ProceedsFromCollectionOfMortgageLoansHeldForSale> | |||||||||||||||||||||
<us-gaap:ProceedsFromOtherDebt contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 1264000 </us-gaap:ProceedsFromOtherDebt> | |||||||||||||||||||||
<us-gaap:ProceedsFromOtherDebt contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 206000 </us-gaap:ProceedsFromOtherDebt> | |||||||||||||||||||||
<us-gaap:ProceedsFromSaleOfMortgageLoansHeldForSale contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 419895000 </us-gaap:ProceedsFromSaleOfMortgageLoansHeldForSale> | |||||||||||||||||||||
<us-gaap:ProceedsFromSaleOfMortgageLoansHeldForSale contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 530526000 </us-gaap:ProceedsFromSaleOfMortgageLoansHeldForSale> | |||||||||||||||||||||
<us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 170000 </us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment> | |||||||||||||||||||||
<us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 155000 </us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment> | |||||||||||||||||||||
<us-gaap:ProceedsFromStockOptionsExercised contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 92670000 </us-gaap:ProceedsFromStockOptionsExercised> | |||||||||||||||||||||
<us-gaap:ProceedsFromStockOptionsExercised contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 6003000 </us-gaap:ProceedsFromStockOptionsExercised> | |||||||||||||||||||||
<us-gaap:ProductWarrantyAccrual contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="-3"> 69787000 </us-gaap:ProductWarrantyAccrual> | |||||||||||||||||||||
<us-gaap:ProductWarrantyAccrual contextRef="BalanceAsOf_31Mar2011" unitRef="USD" decimals="-3"> 65330000 </us-gaap:ProductWarrantyAccrual> | |||||||||||||||||||||
<us-gaap:ProductWarrantyAccrual contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 64008000 </us-gaap:ProductWarrantyAccrual> | |||||||||||||||||||||
<us-gaap:ProductWarrantyAccrual contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 60286000 </us-gaap:ProductWarrantyAccrual> | |||||||||||||||||||||
<us-gaap:ProductWarrantyAccrualPayments contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 8189000 </us-gaap:ProductWarrantyAccrualPayments> | |||||||||||||||||||||
<us-gaap:ProductWarrantyAccrualPayments contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 10137000 </us-gaap:ProductWarrantyAccrualPayments> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentNet contextRef="BalanceAsOf_31Dec2011_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 1694000 </us-gaap:PropertyPlantAndEquipmentNet> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentNet contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 23243000 </us-gaap:PropertyPlantAndEquipmentNet> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentNet contextRef="BalanceAsOf_31Mar2012_Residential_Mortgage_Member" unitRef="USD" decimals="-3"> 1710000 </us-gaap:PropertyPlantAndEquipmentNet> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentNet contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 24256000 </us-gaap:PropertyPlantAndEquipmentNet> | |||||||||||||||||||||
<us-gaap:RealEstateInventoryConstructionMaterials contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 8694000 </us-gaap:RealEstateInventoryConstructionMaterials> | |||||||||||||||||||||
<us-gaap:RealEstateInventoryConstructionMaterials contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 8516000 </us-gaap:RealEstateInventoryConstructionMaterials> | |||||||||||||||||||||
<us-gaap:RepaymentsOfOtherDebt contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 1269000 </us-gaap:RepaymentsOfOtherDebt> | |||||||||||||||||||||
<us-gaap:RepaymentsOfOtherDebt contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 2841000 </us-gaap:RepaymentsOfOtherDebt> | |||||||||||||||||||||
<us-gaap:RetainedEarningsAccumulatedDeficit contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 4158492000 </us-gaap:RetainedEarningsAccumulatedDeficit> | |||||||||||||||||||||
<us-gaap:RetainedEarningsAccumulatedDeficit contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 4178615000 </us-gaap:RetainedEarningsAccumulatedDeficit> | |||||||||||||||||||||
<us-gaap:Revenues contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 514504000 </us-gaap:Revenues> | |||||||||||||||||||||
<us-gaap:Revenues contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 600492000 </us-gaap:Revenues> | |||||||||||||||||||||
<us-gaap:SellingGeneralAndAdministrativeExpense contextRef="ThreeMonthsEnded_31Mar2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 67188000 </us-gaap:SellingGeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:SellingGeneralAndAdministrativeExpense contextRef="ThreeMonthsEnded_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 72176000 </us-gaap:SellingGeneralAndAdministrativeExpense> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="ThreeMonthsEnded_31Mar2011" unitRef="USD" decimals="-3"> 15580000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensation contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 16440000 </us-gaap:ShareBasedCompensation> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 1374799000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="BalanceAsOf_31Dec2011_Deferred_Compensation_Liability_Member" unitRef="USD" decimals="-3"> 25581000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="BalanceAsOf_31Dec2011_Deferred_Compensation_Trust_Member" unitRef="USD" decimals="-3"> -25581000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="BalanceAsOf_31Dec2011_Additional_Paid_In_Capital_Member" unitRef="USD" decimals="-3"> 1072779000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="BalanceAsOf_31Dec2011_Common_Stock_Member" unitRef="USD" decimals="-3"> 206000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="BalanceAsOf_31Dec2011_Retained_Earnings_Member" unitRef="USD" decimals="-3"> 4158492000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="BalanceAsOf_31Dec2011_Treasury_Stock_Member" unitRef="USD" decimals="-3"> -3856678000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 1418241000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="BalanceAsOf_31Mar2012_Deferred_Compensation_Liability_Member" unitRef="USD" decimals="-3"> 25331000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="BalanceAsOf_31Mar2012_Deferred_Compensation_Trust_Member" unitRef="USD" decimals="-3"> -25331000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="BalanceAsOf_31Mar2012_Additional_Paid_In_Capital_Member" unitRef="USD" decimals="-3"> 1074215000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="BalanceAsOf_31Mar2012_Common_Stock_Member" unitRef="USD" decimals="-3"> 206000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="BalanceAsOf_31Mar2012_Retained_Earnings_Member" unitRef="USD" decimals="-3"> 4178615000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockholdersEquity contextRef="BalanceAsOf_31Mar2012_Treasury_Stock_Member" unitRef="USD" decimals="-3"> -3834795000 </us-gaap:StockholdersEquity> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised contextRef="Jan-01-2012_Mar-31-2012" unitRef="Shares" decimals="0"> 88000 </us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised contextRef="Jan-01-2012_Mar-31-2012" unitRef="USD" decimals="-3"> 6003000 </us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised contextRef="ThreeMonthsEnded_31Mar2012_Additional_Paid_In_Capital_Member" unitRef="USD" decimals="-3"> 6003000 </us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueTreasuryStockReissued contextRef="ThreeMonthsEnded_31Mar2012_Additional_Paid_In_Capital_Member" unitRef="USD" decimals="-3"> -21883000 </us-gaap:StockIssuedDuringPeriodValueTreasuryStockReissued> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodValueTreasuryStockReissued contextRef="ThreeMonthsEnded_31Mar2012_Treasury_Stock_Member" unitRef="USD" decimals="-3"> 21883000 </us-gaap:StockIssuedDuringPeriodValueTreasuryStockReissued> | |||||||||||||||||||||
<us-gaap:TreasuryStockShares contextRef="BalanceAsOf_31Dec2011" unitRef="Shares" decimals="INF"> 15578565 </us-gaap:TreasuryStockShares> | |||||||||||||||||||||
<us-gaap:TreasuryStockShares contextRef="BalanceAsOf_31Mar2012" unitRef="Shares" decimals="INF"> 15490168 </us-gaap:TreasuryStockShares> | |||||||||||||||||||||
<us-gaap:TreasuryStockSharesAcquired contextRef="Jan-01-2012_Mar-31-2012" unitRef="Shares" decimals="INF"> 0 </us-gaap:TreasuryStockSharesAcquired> | |||||||||||||||||||||
<us-gaap:TreasuryStockValue contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 3856678000 </us-gaap:TreasuryStockValue> | |||||||||||||||||||||
<us-gaap:TreasuryStockValue contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 3834795000 </us-gaap:TreasuryStockValue> | |||||||||||||||||||||
<us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets contextRef="BalanceAsOf_31Dec2011" unitRef="USD" decimals="-3"> 20182000 </us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets> | |||||||||||||||||||||
<us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 20182000 </us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets> | |||||||||||||||||||||
<us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 17546000 </us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets> | |||||||||||||||||||||
<us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 17546000 </us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets> | |||||||||||||||||||||
<us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities contextRef="BalanceAsOf_31Dec2011_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 1013000 </us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities> | |||||||||||||||||||||
<us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities contextRef="BalanceAsOf_31Mar2012_Residential_Real_Estate_Member" unitRef="USD" decimals="-3"> 1128000 </us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities> | |||||||||||||||||||||
<us-gaap:WarehouseAgreementBorrowings contextRef="BalanceAsOf_31Mar2012" unitRef="USD" decimals="-3"> 0 </us-gaap:WarehouseAgreementBorrowings> | |||||||||||||||||||||
<us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding contextRef="ThreeMonthsEnded_31Mar2011" unitRef="Shares" decimals="-3"> 6020000 </us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding> | |||||||||||||||||||||
<us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding contextRef="Jan-01-2012_Mar-31-2012" unitRef="Shares" decimals="-3"> 5159000 </us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding> | |||||||||||||||||||||
<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="ThreeMonthsEnded_31Mar2011" unitRef="Shares" decimals="-3"> 5823000 </us-gaap:WeightedAverageNumberOfSharesOutstandingBasic> | |||||||||||||||||||||
<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="Jan-01-2012_Mar-31-2012" unitRef="Shares" decimals="-3"> 5044000 </us-gaap:WeightedAverageNumberOfSharesOutstandingBasic> | |||||||||||||||||||||
</xbrl> |