Ryland Inactive 10-K27 Feb 142013 FY Annual reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2013	Feb. 24, 2014	Jun. 30, 2013
Document and Entity Information	'	'	'
Entity Registrant Name	'RYLAND GROUP INC	'	'
Entity Central Index Key	'0000085974	'	'
Document Type	'10-K	'	'
Document Period End Date	31-Dec-13	'	'
Amendment Flag	'false	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Well-known Seasoned Issuer	'Yes	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Filer Category	'Large Accelerated Filer	'	'
Entity Public Float	'	'	$1,811,485,179
Entity Common Stock, Shares Outstanding	'	46,588,764	'
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'FY	'	'

CONSOLIDATED_STATEMENTS_OF_EAR

CONSOLIDATED STATEMENTS OF EARNINGS (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
REVENUES	'	'	'
Homebuilding	$2,089,375	$1,270,847	$862,604
Financial services	51,380	37,619	26,927
TOTAL REVENUES	2,140,755	1,308,466	889,531
EXPENSES	'	'	'
Cost of sales	1,654,196	1,027,472	726,956
Selling, general and administrative	253,047	189,500	158,045
Financial services	31,312	24,477	21,188
Interest	8,358	16,118	18,348
TOTAL EXPENSES	1,946,913	1,257,567	924,537
OTHER INCOME (LOSS)	'	'	'
Gain from marketable securities, net	1,849	2,214	3,882
Loss related to early retirement of debt, net	0	-9,146	-1,608
TOTAL OTHER INCOME (LOSS)	1,849	-6,932	2,274
Income (loss) from continuing operations before taxes	195,691	43,967	-32,732
Tax (benefit) expense	-183,408	1,585	-2,865
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	379,099	42,382	-29,867
Income (loss) from discontinued operations, net of taxes	106	-2,000	-20,883
NET INCOME (LOSS)	$379,205	$40,382	($50,750)
Basic	'	'	'
Continuing operations (in dollars per share)	$8.22	$0.93	($0.67)
Discontinued operations (in dollars per share)	$0	($0.04)	($0.47)
Total (in dollars per share)	$8.22	$0.89	($1.14)
Diluted	'	'	'
Continuing operations (in dollars per share)	$6.79	$0.88	($0.67)
Discontinued operations (in dollars per share)	$0	($0.04)	($0.47)
Total (in dollars per share)	$6.79	$0.84	($1.14)
AVERAGE COMMON SHARES OUTSTANDING	'	'	'
Basic (in shares)	45,966,307	44,761,178	44,357,470
Diluted (in shares)	56,219,939	49,655,321	44,357,470
DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	$0.12	$0.12	$0.12

CONSOLIDATED_STATEMENTS_OF_OTH

CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME	'	'	'	'	'	'	'	'	'	'	'
Net income (loss)	$72,245	$53,649	$231,194	$22,117	$28,573	$10,645	$6,272	($5,108)	$379,205	$40,382	($50,750)
Other comprehensive loss before tax:	'	'	'	'	'	'	'	'	'	'	'
Actuarial loss on defined benefit pension plan	'	'	'	'	'	'	'	'	-1,674	0	0
Reduction of unrealized gain related to cash flow hedging instruments	'	'	'	'	'	'	'	'	0	-1,709	-1,207
Unrealized (loss) gain on marketable securities, available-for-sale:	'	'	'	'	'	'	'	'	'	'	'
Unrealized (loss) gain	'	'	'	'	'	'	'	'	-279	1,217	360
Less: reclassification adjustments for losses (gains) included in net income (loss)	'	'	'	'	'	'	'	'	64	-233	-1,358
Total unrealized (loss) gain on marketable securities, available-for-sale	'	'	'	'	'	'	'	'	-215	984	-998
Other comprehensive loss before tax	'	'	'	'	'	'	'	'	-1,889	-725	-2,205
Income tax benefit related to items of other comprehensive loss	'	'	'	'	'	'	'	'	640	653	502
Other comprehensive loss, net of tax	'	'	'	'	'	'	'	'	-1,249	-72	-1,703
Comprehensive income (loss)	'	'	'	'	'	'	'	'	$377,956	$40,310	($52,453)

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Cash, cash equivalents and marketable securities	'	'
Cash and cash equivalents	$227,986	$158,087
Restricted cash	90,034	70,893
Marketable securities, available-for-sale	313,155	385,625
Total cash, cash equivalents and marketable securities	631,175	614,605
Housing inventories	'	'
Homes under construction	643,357	459,269
Land under development and improved lots	969,755	573,975
Inventory held-for-sale	3,495	4,684
Consolidated inventory not owned	33,176	39,490
Total housing inventories	1,649,783	1,077,418
Property, plant and equipment	25,437	20,409
Mortgage loans held-for-sale	139,576	107,950
Net deferred taxes	185,904	0
Other	148,437	111,057
Assets of discontinued operations	30	2,480
TOTAL ASSETS	2,780,342	1,933,919
LIABILITIES	'	'
Accounts payable	172,841	124,797
Accrued and other liabilities	212,680	147,358
Financial services credit facility	73,084	0
Debt	1,397,308	1,134,468
Liabilities of discontinued operations	504	1,536
TOTAL LIABILITIES	1,856,417	1,408,159
STOCKHOLDERS' EQUITY	'	'
Preferred stock, $1.00 par value: Authorized-10,000 shares Series A Junior Participating Preferred, none outstanding	0	0
Common stock, $1.00 par value: Authorized-199,990,000 shares Issued-46,234,809 shares at December 31, 2013 (45,175,053 shares at December 31, 2012)	46,235	45,175
Retained earnings	862,968	458,669
Accumulated other comprehensive (loss) income	-1,157	92
TOTAL STOCKHOLDERS' EQUITY FOR THE RYLAND GROUP, INC.	908,046	503,936
NONCONTROLLING INTEREST	15,879	21,824
TOTAL EQUITY	923,925	525,760
TOTAL LIABILITIES AND EQUITY	$2,780,342	$1,933,919

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED BALANCE SHEETS	'	'
Preferred stock, par value (in dollars per share)	$1	$1
Preferred stock, Authorized shares Series A Junior Participating Preferred	10,000	10,000
Preferred stock, outstanding shares Series A Junior Participating Preferred	0	0
Common stock, par value (in dollars per share)	$1	$1
Common stock, Authorized shares	199,990,000	199,990,000
Common stock, Issued shares	46,234,809	45,175,053

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)	Total	COMMON STOCK	RETAINED EARNINGS	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
In Thousands, unless otherwise specified	Total	COMMON STOCK	RETAINED EARNINGS	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
STOCKHOLDERS' EQUITY BALANCE at Dec. 31, 2010	$499,856	$44,188	$453,801	$1,867
Increase (Decrease) in Stockholders' Equity	'	'	'	'
Net income (loss)	-50,750	0	-50,750	0
Other comprehensive loss, net of tax	-1,703	0	0	-1,703
Common stock dividends (per share $0.12)	-5,410	0	-5,410	0
Stock-based compensation	7,694	226	7,468	0
NONCONTROLLING INTEREST	34,223	'	'	'
TOTAL EQUITY BALANCE at Dec. 31, 2011	483,910	'	'	'
STOCKHOLDERS' EQUITY BALANCE at Dec. 31, 2011	449,687	44,414	405,109	164
Increase (Decrease) in Stockholders' Equity	'	'	'	'
Net income (loss)	40,382	0	40,382	0
Other comprehensive loss, net of tax	-72	0	0	-72
Common stock dividends (per share $0.12)	-5,479	0	-5,479	0
Stock-based compensation	19,418	761	18,657	0
NONCONTROLLING INTEREST	21,824	'	'	'
TOTAL EQUITY BALANCE at Dec. 31, 2012	525,760	'	'	'
STOCKHOLDERS' EQUITY BALANCE at Dec. 31, 2012	503,936	45,175	458,669	92
Increase (Decrease) in Stockholders' Equity	'	'	'	'
Net income (loss)	379,205	0	379,205	0
Other comprehensive loss, net of tax	-1,249	0	0	-1,249
Common stock dividends (per share $0.12)	-5,590	0	-5,590	0
Stock-based compensation	31,744	1,060	30,684	0
NONCONTROLLING INTEREST	15,879	'	'	'
TOTAL EQUITY BALANCE at Dec. 31, 2013	923,925	'	'	'
STOCKHOLDERS' EQUITY BALANCE at Dec. 31, 2013	$908,046	$46,235	$862,968	($1,157)

CONSOLIDATED_STATEMENTS_OF_STO1

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY	'	'	'
Common stock dividends, per share (in dollars per share)	$0.12	$0.12	$0.12

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES	'		'		'
Net income (loss) from continuing operations	$379,099		$42,382		($29,867)
Adjustments to reconcile net income (loss) from continuing operations to net cash used for operating activities:	'		'		'
Depreciation and amortization	20,517		15,399		11,312
Inventory and other asset impairments and write-offs	2,022		6,262		17,319
Loss on early extinguishment of debt, net	0		9,146		1,608
Realized gain on sale of marketable securities	-623		-527		-1,676
(Decrease) increase in deferred tax valuation allowance	-258,867		-11,584		20,243
Stock-based compensation expense	19,503		17,841		9,671
Changes in assets and liabilities:	'		'		'
Increase in inventories	-541,973		-236,512		-85,985
Net change in other assets, payables and other liabilities	113,618		37,206		-99,305
Other operating activities, net	-1,264		-792		-988
Net cash used for operating activities from continuing operations	-267,968		-121,179		-157,668
CASH FLOWS FROM INVESTING ACTIVITIES	'		'		'
Contributions to unconsolidated joint ventures	-5,812		-559		-1,062
Return of investment in unconsolidated joint ventures	2,585		2,869		3,017
Additions to property, plant and equipment	-19,908		-12,224		-10,964
Purchases of marketable securities, available-for-sale	-756,217		-1,176,108		-1,313,281
Proceeds from sales and maturities of marketable securities, available-for-sale	829,332		1,140,968		1,404,130
Cash paid for business acquisitions	-50,930		-80,182		0
Other investing activities	0		109		118
Net cash (used for) provided by investing activities from continuing operations	-950		-125,127		81,958
CASH FLOWS FROM FINANCING ACTIVITIES	'		'		'
Cash proceeds of long-term debt	267,500		475,000		0
Retirement of long-term debt	0		-177,219		-52,917
Increase (decrease) in borrowings against revolving credit facilities, net	73,084		-49,933		49,933
(Decrease) increase in short-term borrowings	-5,298		2,154		-5,110
Common stock dividends	-5,533		-5,411		-5,405
Issuance of common stock under stock-based compensation	28,205		14,366		3,622
(Increase) decrease in restricted cash	-19,141		-13,844		17,989
Net cash provided by financing activities from continuing operations	338,817		245,113		8,112
Net increase (decrease) in cash and cash equivalents from continuing operations	69,899		-1,193		-67,598
Cash flows from operating activities-discontinued operations	-25		-104		469
Cash flows from investing activities-discontinued operations	25		75		-363
Cash flows from financing activities-discontinued operations	0		0		-89
Cash and cash equivalents at beginning of period	158,114	[1],[2]	159,336	[1],[2]	226,917	[1]
CASH AND CASH EQUIVALENTS AT END OF PERIOD	228,013	[2]	158,114	[1],[2]	159,336	[1],[2]
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION FROM CONTINUING OPERATIONS	'		'		'
Cash paid for interest, net of capitalized interest	-5,165		-12,777		-22,949
Cash paid for income taxes	-3,704		-404		-1,343
SUPPLEMENTAL DISCLOSURES OF NONCASH ACTIVITIES FROM CONTINUING OPERATIONS	'		'		'
Decrease in consolidated inventory not owned related to land options	$5,945		$12,399		$27,583

[1]	Includes cash and cash equivalents associated with discontinued operations of $27,000, $56,000 and $39,000 at December 31, 2012, 2011 and 2010, respectively.
[2]	Includes cash and cash equivalents associated with discontinued operations of $27,000 at December 31, 2013 and 2012, compared to $56,000 at December 31, 2011.

CONSOLIDATED_STATEMENTS_OF_CAS1

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
CONSOLIDATED STATEMENTS OF CASH FLOWS	'	'	'	'
Cash and cash equivalents - discontinued operations	$27,000	$27,000	$56,000	$39,000

Summary_of_Significant_Account

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2013

Summary of Significant Accounting Policies

Note A: Summary of Significant Accounting Policies

Basis of Presentation

The consolidated financial statements include the accounts of The Ryland Group, Inc. and its 100 percent-owned subsidiaries. Noncontrolling interest represents the selling entities' ownership interests in land and lot option purchase contracts. Intercompany transactions have been eliminated in consolidation. Information is presented on a continuing operations basis unless otherwise noted. The results from continuing and discontinued operations are presented separately in the consolidated financial statements. (See Note M, "Discontinued Operations.") All prior period amounts have been reclassified to conform to the 2013 presentation.

Use of Estimates

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 these estimates.

Cash and Cash Equivalents

Cash and cash equivalents totaled $228.0 million and $158.1 million at December 31, 2013 and 2012, respectively. The Company considers all highly liquid short-term investments purchased with an original maturity of three months or less and cash held in escrow accounts to be cash equivalents.

Restricted Cash

At December 31, 2013 and 2012, the Company had restricted cash of $90.0 million and $70.9 million, respectively. The Company has various secured letter of credit agreements that require it to maintain cash deposits as collateral for outstanding letters of credit. Cash restricted under these agreements totaled $89.5 million and $70.3 million at December 31, 2013 and 2012, respectively. In addition, RMC had restricted cash of $487,000 and $627,000 at December 31, 2013 and 2012, respectively.

Marketable Securities, Available-for-sale

The Company considers its investment portfolio to be available-for-sale. Accordingly, these investments are recorded at their fair values, with unrealized gains or losses generally recorded in other comprehensive income. (See Note E, "Marketable Securities, Available-for-sale.")

Homebuilding Revenues

In accordance with ASC 976, homebuilding revenues are recognized when home and lot sales are closed; title and possession are transferred to the buyer; and there is no significant continuing involvement from the homebuilder. Sales incentives offset revenues and are expensed when homes are closed.

Housing Inventories

Housing inventories consist principally of homes under construction; land under development and improved lots; and inventory held-for-sale. Inventory includes land and development costs; direct construction costs; capitalized indirect construction costs; capitalized interest; and real estate taxes. The costs of acquiring and developing land and constructing certain related amenities are allocated to the parcels to which these costs relate. Inventories to be held and used are stated at cost unless a community is determined to be impaired, in which case the impaired inventories are written down to their fair values. Inventories held-for-sale are stated at the lower of their costs or fair values, less cost to sell.

As required by ASC 360, inventory is reviewed for potential write-downs on an ongoing basis. ASC 360 requires that, in the event that impairment indicators are present and undiscounted cash flows signify that the carrying amount of an asset is not recoverable, impairment charges must be recorded if the fair value of the asset is less than its carrying amount. The Company reviews all communities on a quarterly basis for changes in events or circumstances indicating signs of impairment. Examples of events or changes in circumstances include, but are not limited to: price declines resulting from sustained competitive pressures; a change in the manner in which the asset is being used; a change in assessments by a regulator or municipality; cost increases; the expectation that, more likely than not, an asset will be sold or disposed of significantly before the end of its previously estimated useful life; or the impact of local economic or macroeconomic conditions, such as employment or housing supply, on the market for a given product. Signs of impairment may include, but are not limited to: very low or negative profit margins, the absence of sales activity in an open community and/or significant price differences for comparable parcels of land held-for-sale.

If it is determined that indicators of impairment exist in a community, undiscounted cash flows are prepared and analyzed at a community level based on expected pricing; sales rates; construction costs; local municipality fees; warranty, closing, carrying, selling, overhead and other related costs; or on similar assets to determine if the realizable values of the assets held are less than their respective carrying amounts. In order to determine assumed sales prices included in cash flow models, the Company analyzes historical sales prices on homes delivered in the community and in other communities located within the same geographic area, as well as sales prices included in its current backlog for such communities. In addition, it analyzes market studies and trends, which generally include statistics on sales prices of similar products in neighboring communities and sales prices of similar products in non-neighboring communities located within the same geographic area. In order to estimate the costs of building and delivering homes, the Company generally assumes cost structures reflecting contracts currently in place with vendors, adjusted for any anticipated cost-reduction initiatives or increases. The Company's analysis of each community generally assumes current pricing equal to current sales orders for a particular or comparable community. For a minority of communities that the Company does not intend to operate for an extended period of time or where the operating life extends beyond several years, slight increases over current sales prices are assumed in later years. Once a community is considered to be impaired, the Company's determinations of fair value and new cost basis are primarily based on discounting estimated cash flows at rates commensurate with inherent risks associated with the continuing assets. Discount rates used generally vary from 17.0 percent to 30.0 percent, depending on market risk, the size or life of a community and development risk. Due to the fact that estimates and assumptions included in cash flow models are based on historical results and projected trends, unexpected changes in market conditions that may lead to additional impairment charges in the future cannot be anticipated.

Valuation adjustments are recorded against homes completed or under construction, land under development or improved lots when analyses indicate that the carrying values are greater than the fair values. Write-downs of impaired inventories to their fair values are recorded as adjustments to the cost basis of the respective inventory. At December 31, 2013 and 2012, valuation reserves related to impaired inventories totaled $154.8 million and $207.8 million, respectively. The net carrying values of the related inventories totaled $155.9 million and $182.2 million at December 31, 2013 and 2012, respectively.

The costs of acquiring and developing land and constructing certain related amenities are allocated to the parcels to which these costs relate. (See "Homebuilding Overview" within Management's Discussion and Analysis of Financial Condition and Results of Operations.)

Interest and taxes are capitalized during active development and construction stages. Capitalized interest is amortized when the related inventory is delivered to homebuyers. The following table summarizes the activity that relates to capitalized interest:

(in thousands)

2013

2012

2011

Capitalized interest at January 1

82,773

81,058

75,094

Interest capitalized

59,208

42,327

38,032

Interest amortized to cost of sales

(52,362

)

(40,612

)

(32,068

)

Capitalized interest at December 31

89,619

82,773

81,058

The following table summarizes each reporting segment's total number of lots owned and lots controlled under option agreements (unaudited):

DECEMBER 31, 2013

DECEMBER 31, 2012

LOTS

TOTAL

LOTS

TOTAL

OWNED

OPTIONED

OWNED

OPTIONED

North

6,382

7,455

13,837

5,471

4,056

9,527

Southeast

8,114

2,439

10,553

7,268

2,121

9,389

Texas

3,886

3,147

7,033

2,438

2,667

5,105

West

5,158

1,561

6,719

2,604

1,680

4,284

Total

23,540

14,602

38,142

17,781

10,524

28,305

Additionally, at December 31, 2013 and 2012, the Company controlled 5 lots and 479 lots, respectively, associated with discontinued operations, all of which were owned.

Transactions with Affiliates

During 2013, the Company issued $1.5 million of promissory notes to affiliates of the Company's Philadelphia division for the development and sale of land and lots. These notes will be repaid once each lot and home is sold, and no later than within three years. As of December 31, 2013, the balance of the promissory notes from these affiliates was $1.3 million. Additionally, the Company leases office space from affiliates in its Philadelphia and Phoenix divisions at market terms.

Goodwill and Other Intangible Assets

The Company records goodwill associated with its business acquisitions when the consideration paid exceeds the fair value of the net tangible and identifiable intangible assets acquired. The Company's goodwill balance was $37.1 million at December 31, 2013, which included $13.7 million in the North, $8.1 million in the Southeast, $6.6 million in Texas and $8.7 million in the West. The Company's goodwill balance was $16.8 million at December 31, 2012, which included $8.1 million in the Southeast and $8.7 million in the West. Goodwill was included in "Other" assets within the Consolidated Balance Sheets. ASC No. 350 ("ASC 350"), "Intangibles—Goodwill and Other," requires that goodwill and certain intangible assets be reviewed for impairment at least annually. The Company performs impairment tests of its goodwill annually as of November 30 or whenever significant events or changes occur that indicate impairment of goodwill may exist. The Company tests goodwill for impairment by using the two-step process prescribed in ASC 350. The first step identifies potential impairment, while the second step measures the amount of impairment. The Company had no goodwill impairment during the years ended December 31, 2013, 2012 and 2011.

Variable Interest Entities ("VIE")

As required by ASC 810, a VIE is to be consolidated by a company if that company has the power to direct the VIE's activities and the obligation to absorb its losses or the right to receive its benefits, which are potentially significant to the VIE. ASC 810 also requires disclosures about VIEs that a company is not obligated to consolidate, but in which it has a significant, though not primary, variable interest.

The Company enters into joint ventures, from time to time, for the purpose of acquisition and co-development of land parcels and lots. Its investment in these joint ventures may create a variable interest in a VIE, depending on the contractual terms of the arrangement. Additionally, in the ordinary course of business, the Company enters into lot option purchase contracts in order to procure land for the construction of homes. Under such lot option purchase contracts, the Company funds stated deposits in consideration for the right to purchase lots at a future point in time, usually at predetermined prices. The Company's liability is generally limited to forfeiture of nonrefundable deposits, letters of credit and other nonrefundable amounts incurred. In accordance with the requirements of ASC 810, certain of the Company's lot option purchase contracts may result in the creation of a variable interest in a VIE.

In compliance with the provisions of ASC 810, the Company consolidated $33.2 million and $39.5 million of inventory not owned related to land and lot option purchase contracts at December 31, 2013 and 2012, respectively. Although the Company may not have had legal title to the optioned land, under ASC 810, it had the primary variable interest and was required to consolidate the particular VIE's assets under option at fair value. To reflect the fair value of the inventory consolidated under ASC 810, the Company included $17.3 million and $17.7 million of its related cash deposits for lot option purchase contracts at December 31, 2013 and 2012, respectively, in "Consolidated inventory not owned" within the Consolidated Balance Sheets. Noncontrolling interest totaled $15.9 million and $21.8 million with respect to the consolidation of these contracts at December 31, 2013 and 2012, respectively, representing the selling entities' ownership interests in these VIEs. Additionally, the Company had cash deposits and/or letters of credit totaling $36.6 million and $22.2 million at December 31, 2013 and 2012, respectively, that were associated with lot option purchase contracts having aggregate purchase prices of $482.8 million and $310.1 million, respectively. As the Company did not have the primary variable interest in these contracts, it was not required to consolidate them.

Investments in Joint Ventures

The Company enters into joint ventures, from time to time, for the purpose of acquisition and co-development of land parcels and lots, which are then sold to the Company, its joint venture partners or others at market prices. It participates in a number of joint ventures in which it has less than a controlling interest. As of December 31, 2013, the Company participated in six active homebuilding joint ventures in the Austin, Chicago, Denver, San Antonio and Washington, D.C., markets. The Company recognizes its share of the respective joint ventures' earnings or losses from the sale of lots to other homebuilders. It does not, however, recognize earnings from lots that it purchases from the joint ventures. Instead, the Company reduces its cost basis in each lot by its share of the earnings from the lot.

The following table summarizes each reporting segment's total estimated share of lots owned by the Company under its joint ventures (unaudited):

31-Dec-13

31-Dec-12

North

150

145

Texas

252

–

West

226

172

Total

628

317

At December 31, 2013 and 2012, the Company's investments in its unconsolidated joint ventures totaled $12.6 million and $8.3 million, respectively, and were included in "Other" assets within the Consolidated Balance Sheets. The increase in the Company's investments in unconsolidated joint ventures was primarily due to its investment in a joint venture in San Antonio during 2013. The Company's equity in earnings from its unconsolidated joint ventures totaled $1.2 million for the years ended December 31, 2013 and 2012. For the year ended December 31, 2011, the Company's equity in losses from its unconsolidated joint ventures totaled $976,000 primarily as a result of a $1.9 million impairment related to a commercial parcel in a joint venture in Chicago.

Property, Plant and Equipment

Property, plant and equipment totaled $25.4 million and $20.4 million at December 31, 2013 and 2012, respectively. These amounts are carried at cost less accumulated depreciation and amortization. Depreciation is provided for, principally, by the straight-line method over the estimated useful lives of the assets. Property, plant and equipment included model home furnishings of $24.1 million and $19.4 million at December 31, 2013 and 2012, respectively. Model home furnishings are amortized over the life of the community as homes are closed. The amortization expense was included in "Selling, general and administrative" expense within the Consolidated Statements of Earnings.

Service Liabilities

Service, warranty and completion costs are estimated and accrued at the time a home closes and are updated as experience requires.

Advertising Costs

The Company expenses advertising costs as they are incurred. Advertising costs totaled $5.3 million, $4.6 million and $5.2 million in 2013, 2012 and 2011, respectively, and were included in "Selling, general and administrative" expense within the Consolidated Statements of Earnings.

Loan Origination Fees, Mortgage Discount Points and Loan Sales

Mortgage loans are recorded at fair value at the time of origination in accordance with ASC No. 825 ("ASC 825"), "Financial Instruments," and are classified as held-for-sale. Loan origination fees, net of mortgage discount points, are recognized in current earnings upon origination of the related mortgage loan. Sales of mortgages and the related servicing rights are accounted for in accordance with ASC No. 860 ("ASC 860"), "Transfers and Servicing." Generally, in order for a transfer of financial assets to be recognized as a sale, ASC 860 requires that control of the loans be passed to the investor and that consideration other than beneficial interests be received in return.

Derivative Instruments

In the normal course of business and pursuant to its risk-management policy, the Company enters, as an end user, into derivative instruments, including forward-delivery contracts for loans; options on forward-delivery contracts; and options on futures contracts, to minimize the impact of movement in market interest rates on IRLCs. Major factors influencing the use of various hedging contracts include general market conditions, interest rates, types of mortgages originated and the percentage of IRLCs expected to fund. The Company is exposed to credit-related losses in the event of nonperformance by counterparties to certain hedging contracts. Credit risk is limited to those instances where the Company is in a net unrealized gain position. It manages this credit risk by entering into agreements with counterparties meeting its credit standards and by monitoring position limits. The Company elected not to use hedge accounting treatment with respect to its economic hedging activities. Accordingly, all derivative instruments used as economic hedges were included at their fair value in "Other" assets or "Accrued and other liabilities" within the Consolidated Balance Sheets, with changes in value recorded in current earnings. The Company's mortgage pipeline includes IRLCs, which represent commitments that have been extended by the Company to those borrowers who have applied for loan funding and who have met certain defined credit and underwriting criteria.

Comprehensive Income

Comprehensive income consists of net income or loss; actuarial gains or losses on defined benefit pension plans; and the increase or decrease in unrealized gains or losses on the Company's available-for-sale securities, as well as the decrease in unrealized gains associated with treasury locks, net of applicable taxes. Comprehensive income totaled $378.0 million and $40.3 million for the years ended December 31, 2013 and 2012, respectively, compared to a comprehensive loss of $52.5 million for the same period in 2011.

Accumulated Other Comprehensive (Loss) Income

Accumulated other comprehensive income or loss consists of actuarial gains or losses on defined benefit pension plans and unrealized gains or losses on marketable securities, available-for-sale, as reported within the Consolidated Statements of Stockholders' Equity. Reclassification adjustments, which are reported within the Consolidated Statements of Other Comprehensive Income, represent realized gains or losses on the sales of these marketable securities and netted a loss of $64,000 for the year ended December 31, 2013. Realized gains or losses were included in "Gain from marketable securities, net" within the Consolidated Statements of Earnings.

Income Taxes

The Company files a consolidated federal income tax return. Certain items of income and expense are included in one period for financial reporting purposes and in another for income tax purposes. Deferred income taxes are provided in recognition of these differences. Deferred tax assets and liabilities are determined based on enacted tax rates and are subsequently adjusted for changes in these rates. A valuation allowance against the Company's deferred tax assets may be established if it is more likely than not that all or some portion of the deferred tax assets will not be realized. A change in deferred tax assets or liabilities results in a charge or credit to deferred tax expense. (See "Critical Accounting Policies" within Management's Discussion and Analysis of Financial Condition and Results of Operations, and Note H, "Income Taxes.")

Per Share Data

The Company computes earnings per share in accordance with ASC No. 260 ("ASC 260"), "Earnings per Share," which requires the presentation of both basic and diluted earnings per common share to be calculated using the two-class method. Basic net earnings per common share is computed by dividing net earnings by the weighted-average number of common shares outstanding. The Company's nonvested outstanding shares of restricted stock are classified as participating securities in accordance with ASC 260. As such, earnings or loss for the reporting period are allocated between common shareholders and nonvested restricted stockholders, based upon their respective participating rights in dividends and undistributed earnings. For purposes of determining diluted earnings per common share, basic earnings per common share is further adjusted to include the effect of potential dilutive common shares outstanding, including stock options and warrants using the treasury stock method and convertible debt using the if-converted method. For the year ended December 31, 2011, the effects of outstanding restricted stock units and stock options, as well as nonvested restricted stock, were not included in the diluted earnings per share calculation as they would have been antidilutive due to the Company's net loss in that year.

Stock-Based Compensation

In accordance with the terms of its shareholder-approved equity incentive plans, the Company issues various types of stock awards that include, but are not limited to, grants of stock options and restricted stock units to its employees. The Company records expense associated with its grant of stock awards in accordance with the provisions of ASC 718, which requires that stock-based payments to employees be recognized, based on their estimated fair values, in the Consolidated Statements of Earnings as compensation expense over the vesting period of the awards.

Additionally, the Company grants stock awards to the non-employee members of its Board of Directors pursuant to its shareholder-approved director stock plan. Stock-based compensation is recognized over the service period for such awards.

New Accounting Pronouncements

ASU 2013-11

In July 2013, the FASB issued Accounting Standards Update ("ASU") No. 2013-11 ("ASU 2013-11"), "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss or a Tax Credit Carryforward Exists." The amendments in ASU 2013-11 are intended to end inconsistent practices regarding the presentation of unrecognized tax benefits on the balance sheet. An entity will be required to present an unrecognized tax benefit as a reduction of a deferred tax asset for an NOL or tax credit carryforward whenever the NOL or tax credit carryforward would be available to reduce the additional taxable income or tax due if the tax position is disallowed. An entity is required to apply the amendments prospectively for annual reporting periods beginning after December 15, 2013, and for interim periods within those annual periods. Early adoption and retrospective application are permitted. The Company does not anticipate that the adoption of this guidance will have a material impact on its consolidated financial statements.

Segment_Information

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2013
Segment Information	'
Segment Information	'

	Note B: Segment Information

	The Company is a leading national homebuilder and provider of mortgage-related financial services. As one of the largest single-family on-site homebuilders in the United States, it operates in 17 states across the country. In accordance with ASC No. 280 ("ASC 280"), "Segment Reporting," the Company has identified six reportable segments: four geographically determined homebuilding regions (North, Southeast, Texas and West); financial services; and corporate. The homebuilding segments specialize in the sale and construction of single-family attached and detached housing. The Company's financial services segment, which includes RMC, RHIC and CNRRG, provides mortgage-related products and services, as well as title and escrow services, to its homebuyers. Corporate is a nonoperating business segment with the sole purpose of supporting operations. In order to best reflect the Company's financial condition and results of operations, certain corporate expenses are allocated to the homebuilding and financial services segments, along with certain assets and liabilities relating to employee benefit plans.

	The Company evaluates performance and allocates resources based on a number of factors, including segment pretax earnings and risk. The accounting policies of the segments are the same as those described in Note A, "Summary of Significant Accounting Policies."

	Selected Segment Information


			YEAR ENDED DECEMBER 31,
	(in thousands)			2013			2012			2011

	REVENUES
	Homebuilding
	North		$	617,550		$	393,238		$	299,595
	Southeast			597,933			355,621			218,672
	Texas			448,828			323,162			262,321
	West			425,064			198,826			82,016
	Financial services			51,380			37,619			26,927

	Total		$	2,140,755		$	1,308,466		$	889,531

	EARNINGS (LOSS) BEFORE TAXES
	Homebuilding
	North		$	52,440		$	11,602		$	(9,054	)
	Southeast			65,510			18,566			(11,676	)
	Texas			39,030			22,984			9,243
	West			46,546			10,732			(5,326	)
	Financial services			20,068			13,142			5,739
	Corporate and unallocated			(27,903	)		(33,059	)		(21,658	)

	Total		$	195,691		$	43,967		$	(32,732	)

	DEPRECIATION AND AMORTIZATION
	Homebuilding
	North		$	5,819		$	4,710		$	3,527
	Southeast			5,629			4,308			3,145
	Texas			3,960			2,834			2,610
	West			4,569			2,984			1,295
	Financial services			175			78			181
	Corporate and unallocated			365			485			554

	Total		$	20,517		$	15,399		$	11,312


	The following table provides the Company's total assets at December 31, 2013 and 2012:


			DECEMBER 31, 2013
	(in thousands)			HOUSING INVENTORIES			OTHER ASSETS			TOTAL ASSETS

	Homebuilding
	North		$	464,777		$	48,314		$	513,091
	Southeast			397,237			24,143			421,380
	Texas			290,018			37,310			327,328
	West			497,751			30,248			527,999
	Financial services			–			193,652			193,652
	Corporate and unallocated			–			796,862			796,862

	Total		$	1,649,783		$	1,130,529		$	2,780,312






		DECEMBER 31, 2012
Homebuilding
North		$	378,523		$	29,818		$	408,341
Southeast			292,288			22,755			315,043
Texas			174,153			22,244			196,397
West			232,454			41,596			274,050
Financial services			–			157,781			157,781
Corporate and unallocated			–			579,827			579,827

Total		$	1,077,418		$	854,021		$	1,931,439


Additionally, the Company had assets of $30,000 and $2.5 million associated with discontinued operations at December 31, 2013 and 2012, respectively.

Earnings_Per_Share_Reconciliat

Earnings Per Share Reconciliation	12 Months Ended
Earnings Per Share Reconciliation	Dec. 31, 2013
Earnings Per Share Reconciliation	'
Earnings Per Share Reconciliation	'

	Note C: Earnings Per Share Reconciliation

	The Company computes earnings per share in accordance with ASC 260, which requires earnings per share for each class of stock to be calculated using the two-class method. The two-class method is the method by which a company allocates earnings or loss between the holders of its common stock and its participating security holders. Under the two-class method, allocation of earnings or loss between common shareholders and other security holders is based on their respective participation rights in dividends and undistributed earnings for the reporting period. All outstanding nonvested shares of restricted stock that contain non-forfeitable rights to dividends are considered participating securities and are included in the computation of earnings per share pursuant to the two-class method. The Company's nonvested shares of restricted stock are considered participating securities in accordance with ASC 260.

	The following table displays the computation of basic and diluted earnings per share:


		YEAR ENDED DECEMBER 31,
	(in thousands, except share data)		2013			2012			2011

	NUMERATOR
	Net income (loss) from continuing operations	$	379,099		$	42,382		$	(29,867	)
	Net income (loss) from discontinued operations		106			(2,000	)		(20,883	)
	Less: distributed earnings allocated to nonvested restricted stock		(13	)		(42	)		–
	Less: undistributed earnings allocated to nonvested restricted stock		(1,135	)		(313	)		–

	Numerator for basic income (loss) per share		378,057			40,027			(50,750	)

	Plus: interest on 1.6 percent convertible senior notes due 2018		2,916			1,829			–
	Plus: interest on 0.25 percent convertible senior notes due 2019		710			–			–
	Plus: undistributed earnings allocated to nonvested restricted stock		1,135			313			–
	Less: undistributed earnings reallocated to nonvested restricted stock		(931	)		(284	)		–

	Numerator for diluted income (loss) per share	$	381,887		$	41,885		$	(50,750	)

	DENOMINATOR
	Basic earnings per share—weighted-average shares		45,966,307			44,761,178			44,357,470
	Effect of dilutive securities:
	Share-based payments		1,031,656			487,443			–
	1.6 percent convertible senior notes due 2018		7,023,780			4,406,700			–
	0.25 percent convertible senior notes due 2019		2,198,196			–			–

	Diluted earnings per share—adjusted weighted-average shares and assumed conversions		56,219,939			49,655,321			44,357,470

	NET INCOME (LOSS) PER COMMON SHARE
	Basic
	Continuing operations	$	8.22		$	0.93		$	(0.67	)
	Discontinued operations		0			(0.04	)		(0.47	)

	Total		8.22			0.89			(1.14	)
	Diluted
	Continuing operations		6.79			0.88			(0.67	)
	Discontinued operations		0			(0.04	)		(0.47	)

	Total	$	6.79		$	0.84		$	(1.14	)


	For the year ended December 31, 2011, the effects of outstanding restricted stock units and stock options, as well as nonvested restricted stock, were not included in the diluted earnings per share calculation as they would have been antidilutive due to the Company's net loss in that year.

Derivative_Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2013
Derivative Instruments	'
Derivative Instruments	'

	Note D: Derivative Instruments

	The Company, which uses derivative financial instruments in its normal course of operations, has no derivative financial instruments that are held for trading purposes.

	The following table presents the contract or notional amounts of the Company's derivative financial instruments:


		DECEMBER 31,
	(in thousands)		2013		2012

	Mortgage interest rate lock commitments	$	269,210	$	137,741
	Hedging contracts:
	Forward-delivery contracts	$	118,000	$	68,000


	IRLCs represent loan commitments with customers at market rates generally up to 180 days before settlement. During 2013, the increasing interest rate environment resulted in loan commitments being extended up to 270 days. IRLCs expose the Company to market risk if mortgage rates increase. IRLCs had interest rates generally ranging from 3.0 percent to 5.3 percent at December 31, 2013 and 2012.

	Hedging contracts are regularly entered into by the Company for the purpose of mitigating its exposure to movement in interest rates on IRLCs. The selection of these hedging contracts is based upon the Company's secondary marketing strategy, which establishes a risk-tolerance level. Major factors influencing the use of various hedging contracts include general market conditions, interest rates, types of mortgages originated and the percentage of IRLCs expected to fund. The market risk assumed while holding the hedging contracts generally mitigates the market risk associated with IRLCs. The Company is exposed to credit-related losses in the event of nonperformance by counterparties to certain hedging contracts. Credit risk is limited to those instances where the Company is in a net unrealized gain position. The Company manages this credit risk by entering into agreements with counterparties meeting its credit standards and by monitoring position limits.

	During 2006, the Company terminated its treasury lock commitments that were deemed to be highly effective cash flow hedges related to future senior note issuances. The gain resulting from these settlements was recorded, net of income tax effect, in "Accumulated other comprehensive (loss) income" within the Consolidated Statements of Other Comprehensive Income and was amortized until the Company's 6.9 percent senior notes due June 2013 were redeemed during 2012, at which time the remaining gain was amortized. The Company amortized $1.7 million and $1.2 million of the gain for the years ended December 31, 2012 and 2011, respectively. The income tax benefit associated with the gain was $653,000 and $462,000 for the years ended December 31, 2012 and 2011, respectively.

Marketable_Securities_Availabl

Marketable Securities, Available-for-sale	12 Months Ended
Marketable Securities, Available-for-sale	Dec. 31, 2013
Marketable Securities, Available-for-sale	'
Marketable Securities, Available-for-sale	'

	Note E: Marketable Securities, Available-for-sale

	The Company's investment portfolio includes U.S. Treasury securities; obligations of U.S. government agencies; municipal debt securities; corporate debt securities; asset-backed securities of U.S. government agencies and covered bonds; time deposits; and short-term pooled investments. These investments are primarily held in the custody of a single financial institution. The Company considers its investment portfolio to be available-for-sale as defined in ASC No. 320 ("ASC 320"), "Investments—Debt and Equity Securities." Accordingly, these investments are recorded at their fair values. The cost of securities sold is based on an average-cost basis. Unrealized gains and losses on these investments were included in "Accumulated other comprehensive (loss) income" within the Consolidated Balance Sheets.

	The Company periodically reviews its available-for-sale securities for other-than-temporary declines in fair values that are below their cost bases, as well as whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. At December 31, 2013 and 2012, the Company believed that the cost bases for its available-for-sale securities were recoverable in all material respects.

	For the years ended December 31, 2013, 2012 and 2011, net realized earnings associated with the Company's investment portfolio, which includes interest, dividends, and net realized gains on sales of marketable securities, totaled $1.8 million, $2.2 million and $3.9 million, respectively. These earnings were included in "Gain from marketable securities, net" within the Consolidated Statements of Earnings. Realized gains or losses on the sales of marketable securities were included as reclassification adjustments within the Consolidated Statements of Other Comprehensive Income. (See "Accumulated Other Comprehensive (Loss) Income" within Note A, "Summary of Significant Accounting Policies.")

	The following table displays the fair values of marketable securities, available-for-sale, by type of security:


		DECEMBER 31, 2013
	(in thousands)		AMORTIZED		GROSS		GROSS			ESTIMATED
			COST		UNREALIZED		UNREALIZED			FAIR
					GAINS		LOSSES			VALUE

	Type of security:
	U.S. Treasury securities	$	76,355	$	149	$	–		$	76,504
	Obligations of U.S. government agencies		17,074		2		(8	)		17,068
	Municipal debt securities		33,492		492		(1,008	)		32,976
	Corporate debt securities		157,798		102		(21	)		157,879
	Asset-backed securities		20,433		76		(20	)		20,489

	Total debt securities		305,152		821		(1,057	)		304,916
	Time deposits		1,606		–		–			1,606
	Short-term pooled investments		6,633		–		–			6,633

	Total marketable securities, available-for-sale	$	313,391	$	821	$	(1,057	)	$	313,155



		DECEMBER 31, 2012
	Type of security:
	U.S. Treasury securities	$	3,098	$	1	$	–		$	3,099
	Obligations of U.S. government agencies		133,029		112		(31	)		133,110
	Municipal debt securities		21,745		896		(458	)		22,183
	Corporate debt securities		163,352		116		(75	)		163,393
	Asset-backed securities		27,325		153		(164	)		27,314

	Total debt securities		348,549		1,278		(728	)		349,099
	Short-term pooled investments		36,533		–		(7	)		36,526

	Total marketable securities, available-for-sale	$	385,082	$	1,278	$	(735	)	$	385,625


	The primary objectives of the Company's investment portfolio are safety of principal and liquidity. Investments are made with the purpose of achieving the highest rate of return consistent with these two objectives. The Company's investment policy limits investments to debt rated investment grade or better, as well as to bank and money market instruments and to issues by the U.S. government, U.S. government agencies and municipal or other institutions primarily with investment-grade credit ratings. Policy restrictions are placed on maturities, as well as on concentration by type and issuer.

	The following table displays the fair values of marketable securities, available-for-sale, by contractual maturity:


		DECEMBER 31,
	(in thousands)		2013		2012

	Contractual maturity:
	Maturing in one year or less	$	129,384	$	66,546
	Maturing after one year through three years		154,169		257,595
	Maturing after three years		21,363		24,958

	Total debt securities		304,916		349,099
	Time deposits and short-term pooled investments		8,239		36,526

	Total marketable securities, available-for-sale	$	313,155	$	385,625

Fair_Values_of_Financial_and_N

Fair Values of Financial and Nonfinancial Instruments	12 Months Ended
Fair Values of Financial and Nonfinancial Instruments	Dec. 31, 2013
Fair Values of Financial and Nonfinancial Instruments	'
Fair Values of Financial and Nonfinancial Instruments	'

	Note F: Fair Values of Financial and Nonfinancial Instruments

	Financial Instruments

	The Company's financial instruments are held for purposes other than trading. The fair values of these financial instruments are based on quoted market prices, where available, or are estimated using other valuation techniques. Estimated fair values are significantly affected by the assumptions used. As required by ASC No. 820 ("ASC 820"), "Fair Value Measurements and Disclosures," fair value measurements of financial instruments are categorized as Level 1, Level 2 or Level 3, based on the types of inputs used in estimating fair values.

	Level 1 fair values are those determined using quoted market prices in active markets for identical assets or liabilities. Level 2 fair values are those determined using directly or indirectly observable inputs in the marketplace that are other than Level 1 inputs. Level 3 fair values are those determined using unobservable inputs, including the use of internal assumptions, estimates or models. Valuations, therefore, are sensitive to the assumptions used for these items. Fair values represent the Company's best estimates as of the balance sheet date and are based on existing conditions and available information at the issuance date of these financial statements. Subsequent changes in conditions or available information may change assumptions and estimates.

	The carrying values of cash, cash equivalents, restricted cash and secured notes payable are reported in the Consolidated Balance Sheets and approximate their fair values due to their short-term natures and liquidity. The aggregate carrying values of the senior notes, net of discount, reported at December 31, 2013 and 2012, were $1.4 billion and $1.1 billion, respectively. The aggregate fair values of the senior notes were $1.6 billion and $1.3 billion at December 31, 2013 and 2012, respectively. The fair values of the Company's senior notes have been determined using quoted market prices.

	The following table displays the values and methods used for measuring fair values of financial instruments on a recurring basis:


		FAIR VALUE AT DECEMBER 31,
	(in thousands)	HIERARCHY		2013		2012

	Marketable securities, available-for-sale:
	U.S. Treasury securities	Level 1	$	76,504	$	3,099
	Obligations of U.S. government agencies	Level 1		17,068		133,110
	Municipal debt securities	Level 2		32,976		22,183
	Corporate debt securities	Level 2		157,879		163,393
	Asset-backed securities	Level 2		20,489		27,314
	Time deposits	Level 2		1,606		–
	Short-term pooled investments	Level 1		6,633		36,526
	Mortgage loans held-for-sale	Level 2		139,576		107,950
	Mortgage interest rate lock commitments	Level 2		5,218		4,737
	Forward-delivery contracts	Level 2		2,261		(369	)


	Marketable Securities, Available-for-sale

	At December 31, 2013 and 2012, the Company had $313.2 million and $385.6 million, respectively, of marketable securities that were available-for-sale and comprised of U.S. Treasury securities; obligations of U.S. government agencies; municipal debt securities; corporate debt securities; asset-backed securities of U.S. government agencies and covered bonds; time deposits; and short-term pooled investments. (See Note E, "Marketable Securities, Available-for-sale.")

	Other Financial Instruments

	Mortgage loans held-for-sale and forward-delivery contracts are based on quoted market prices of similar instruments (Level 2). IRLCs are valued at their aggregate market price premium or deficit, plus a servicing premium, multiplied by the projected close ratio (Level 2). The market price premium or deficit is based on quoted market prices of similar instruments; the servicing premium is based on contractual investor guidelines for each product; and the projected close ratio is determined utilizing an external modeling system, widely used within the industry, to estimate customer behavior at an individual loan level. At December 31, 2013 and 2012, contractual principal amounts of mortgage loans held-for-sale totaled $137.5 million and $103.4 million, respectively. The fair values of IRLCs were included in "Other" assets within the Consolidated Balance Sheets, and forward-delivery contracts were included in "Other" assets and "Accrued and other liabilities" within the Consolidated Balance Sheets.

	Gains realized on the IRLC pipeline, including activity and changes in fair value, totaled $480,000, $1.4 million and $1.9 million for the years ended December 31, 2013, 2012 and 2011, respectively. Gains on forward-delivery contracts used to hedge IRLCs totaled $8.8 million for the year ended December 31, 2013, compared to losses on forward-delivery contracts that totaled $8.1 million and $7.3 million for the years ended December 31, 2012 and 2011, respectively. Gains on loan sales totaled $17.0 million, $26.6 million and $17.9 million for the years ended December 31, 2013, 2012 and 2011, respectively. Net gains and losses related to IRLCs, forward-delivery contracts and loan sales were included in "Financial services" revenues within the Consolidated Statements of Earnings.

	The excess of the aggregate fair value over the aggregate unpaid principal balance for mortgage loans held-for-sale measured at fair value totaled $2.1 million and $4.6 million at December 31, 2013 and 2012, respectively. These amounts were included in "Financial services" revenues within the Consolidated Statements of Earnings. At December 31, 2013, the Company held two repurchased loans with payments 90 days or more past due that had an aggregate carrying value of $467,000 and an aggregate unpaid principal balance of $738,000. At December 31, 2012, the Company held no loans with payments 90 days or more past due.

	While recorded fair values represent management's best estimate based on data currently available, future changes in interest rates or in market prices for mortgage loans, among other factors, could materially impact these fair values.

	Nonfinancial Instruments

	In accordance with ASC 820, the Company measures certain nonfinancial homebuilding assets at their fair values on a nonrecurring basis. See "Housing Inventories" within Note A, "Summary of Significant Accounting Policies," for further discussion of the valuation of the Company's nonfinancial assets. There were no housing inventory impairments during the year ended December 31, 2013. In accordance with ASC No. 330, ("ASC 330"), "Inventory," the fair value of housing inventory that was impaired during 2012 totaled $2.9 million at December 31, 2012. Impairment charges related to these assets totaled $1.9 million for the year ended December 31, 2012. The fair values of other assets held-for-sale that were impaired during 2013 totaled $596,000 at December 31, 2013. Impairment charges related to these assets totaled $154,000 for the year ended December 31, 2013. The fair values of other assets held-for-sale that were impaired during 2012 totaled $263,000 at December 31, 2012. Impairment charges related to these assets totaled $41,000 for the year ended December 31, 2012. The fair values of investments in joint ventures that were impaired during 2012 totaled $1.3 million at December 31, 2012. Impairment charges related to these assets totaled $40,000 for the year ended December 31, 2012.

Debt_and_Credit_Facilities

Debt and Credit Facilities	12 Months Ended
Debt and Credit Facilities	Dec. 31, 2013
Debt and Credit Facilities	'
Debt and Credit Facilities	'

	Note G: Debt and Credit Facilities

	The following table presents the composition of the Company's homebuilder debt and its financial services credit facility at December 31, 2013 and 2012:


	(in thousands)		2013			2012

	Senior notes
	5.4 percent senior notes due January 2015	$	126,481		$	126,481
	8.4 percent senior notes due May 2017		230,000			230,000
	6.6 percent senior notes due May 2020		300,000			300,000
	5.4 percent senior notes due October 2022		250,000			250,000
	Convertible senior notes
	1.6 percent convertible senior notes due May 2018		225,000			225,000
	0.25 percent convertible senior notes due June 2019		267,500			–

	Total senior notes and convertible senior notes		1,398,981			1,131,481
	Debt discount		(2,362	)		(3,000	)

	Senior notes and convertible senior notes, net		1,396,619			1,128,481
	Secured notes payable		689			5,987

	Total debt	$	1,397,308		$	1,134,468
	Financial services credit facility	$	73,084		$	–


	At December 31, 2013, maturities of the Company's homebuilder debt and its financial services credit facility were scheduled as follows:


	(in thousands)

	2014	$	73,760
	2015		126,494
	2016		–
	2017		230,000
	2018		225,000
	After 2018		817,500

	Total	$	1,472,754


	At December 31, 2013, the Company had outstanding (a) $126.5 million of 5.4 percent senior notes due January 2015; (b) $230.0 million of 8.4 percent senior notes due May 2017; (c) $225.0 million of 1.6 percent convertible senior notes due May 2018; (d) $267.5 million of 0.25 percent convertible senior notes due June 2019; (e) $300.0 million of 6.6 percent senior notes due May 2020; and (f) $250.0 million of 5.4 percent senior notes due October 2022. Each of the senior notes pays interest semiannually and all, except for the convertible senior notes due May 2018 and June 2019, may be redeemed at a stated redemption price, in whole or in part, at the option of the Company at any time.

	During 2013, the Company issued $267.5 million of 0.25 percent convertible senior notes due June 2019. The Company will pay interest on the notes on June 1 and December 1 of each year, which commenced on December 1, 2013. The notes, which mature on June 1, 2019, are initially convertible into shares of the Company's common stock at a conversion rate of 13.3307 shares per $1,000 of their principal amount. This corresponds to an initial conversion price of approximately $75.01 per share and represents a conversion premium of approximately 50.0 percent, based on the closing price of the Company's common stock on May 14, 2013, which was $50.01 per share. The conversion rate of the notes is subject to adjustment upon the following events: the Company issues a dividend or distribution in shares of common stock on all or substantially all of its shares of common stock; the Company subdivides or combines common stock; the Company offers its stockholders the option to purchase additional shares at a price that is less than the average closing price of its common stock from the ten previous trading days; the Company distributes shares of common stock or offers its holders of common stock the option to purchase capital stock or other securities; a corporate spin-off event occurs; the Company pays dividends or distributions to a stockholder, other than a dividend or distribution due to liquidation or a regular cash dividend that does not exceed $0.03 per share per quarter; the Company makes a payment in respect of a tender offer for its common stock that exceeds the average closing price of its common stock from the ten previous trading days; a make-whole adjustment event occurs; or a redemption notice occurs, which includes a change in control or termination of trading. These events may not be considered standard anti-dilution provisions under a conventional convertible debt security scenario. An event that adversely affects the value of the notes may occur, and that event may not result in an adjustment to the conversion rate. All of the conversion rate adjustment events are intended to make the investor whole for the direct effect that the occurrence of such above mentioned dilutive events should have on the price of the underlying shares; they do not adjust for the actual change in the market value of the underlying shares. Therefore, the only variables that could affect the settlement amount would be inputs to the fair value of a fixed-for-fixed forward or option on equity shares. At any time prior to the close of business on the business day immediately preceding the stated maturity date, holders may convert all or any portion of their notes. The notes are fully and unconditionally guaranteed, jointly and severally, by substantially all of the Company's Guarantor Subsidiaries. The Company may not redeem the notes prior to June 6, 2017. On or after that date, it may redeem for cash any or all of the notes, at its option, if the closing sale price of its common stock for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending within 5 trading days immediately preceding the date on which it provides notice of redemption, including the last trading day of such 30 day trading period, exceeds 130 percent of the applicable conversion price on each applicable trading day. The redemption price will equal 100 percent of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the notes. The Company received net proceeds of $260.1 million from this offering prior to offering expenses.

	During 2012, the Company issued $250.0 million of 5.4 percent senior notes due October 2022. The Company will pay interest on the notes on April 1 and October 1 of each year, which commenced on April 1, 2013. It received net proceeds of $246.6 million from this offering prior to offering expenses. The notes are fully and unconditionally guaranteed, jointly and severally, by substantially all of the Company's Guarantor Subsidiaries.

	Additionally during 2012, the Company issued $225.0 million of 1.6 percent convertible senior notes due May 2018. The Company will pay interest on the notes on May 15 and November 15 of each year, which commenced on November 15, 2012. At any time prior to the close of business on the business day immediately preceding the stated maturity date, holders may convert all or any portion of their convertible senior notes. These notes will mature on May 15, 2018, unless converted earlier by the holder, at its option, or purchased by the Company upon the occurrence of a fundamental change. These notes are initially convertible into shares of the Company's common stock at a conversion rate of 31.2168 shares per $1,000 of their principal amount. This corresponds to an initial conversion price of approximately $32.03 per share and represents a conversion premium of approximately 42.5 percent, based on the closing price of the Company's common stock on May 10, 2012, which was $22.48 per share. The conversion rate of the notes is subject to adjustment upon the following events: the Company issues a dividend or distribution in shares of common stock on all or substantially all of its shares of common stock; the Company subdivides or combines common stock; the Company offers its stockholders the option to purchase additional shares at a price that is less than the average closing price of its common stock from the ten previous trading days; the Company distributes shares of common stock or offers its holders of common stock the option to purchase capital stock or other securities; a corporate spin-off event occurs; the Company pays dividends or distributions to a stockholder, other than a dividend or distribution due to liquidation or a regular cash dividend that does not exceed $0.03 per share per quarter; the Company makes a payment in respect of a tender offer for its common stock that exceeds the average closing price of its common stock from the ten previous trading days; or a make-whole adjustment event occurs, which includes a change in control or termination of trading. These events may not be considered standard anti-dilution provisions under a conventional convertible debt security scenario. An event that adversely affects the value of the notes may occur, and that event may not result in an adjustment to the conversion rate. All of the conversion rate adjustment events are intended to make the investor whole for the direct effect that the occurrence of such above-mentioned dilutive events should have on the price of the underlying shares; they do not adjust for the actual change in the market value of the underlying shares. Therefore, the only variables that could affect the settlement amount would be inputs to the fair value of a fixed-for-fixed forward or option on equity shares. The notes are fully and unconditionally guaranteed, jointly and severally, by substantially all of the Company's Guarantor Subsidiaries. The Company may not redeem the notes prior to the stated maturity date. No sinking fund is provided for the notes. The Company received net proceeds of $218.8 million from this offering prior to offering expenses.

	The Company did not redeem or repurchase any debt during the year ended December 31, 2013. For the year ended December 31, 2012, the Company paid $177.2 million to redeem and repurchase $167.2 million of its 6.9 percent senior notes due June 2013, resulting in a loss of $9.1 million. For the year ended December 31, 2011, the Company's repurchases of its senior notes totaled $51.5 million in the open market, for which it paid $52.9 million, resulting in a loss of $1.6 million. The losses resulting from these debt repurchases were included in "Loss related to early retirement of debt, net" within the Consolidated Statements of Earnings.

	To provide letters of credit required in the ordinary course of its business, the Company has various secured letter of credit agreements that require it to maintain restricted cash deposits for outstanding letters of credit. Outstanding letters of credit totaled $93.6 million and $79.5 million under these agreements at December 31, 2013 and 2012, respectively.

	To finance its land purchases, the Company may also use seller-financed nonrecourse secured notes payable. At December 31, 2013 and 2012, outstanding seller-financed nonrecourse secured notes payable totaled $689,000 and $6.0 million, respectively.

	Senior notes and indenture agreements are subject to certain covenants that include, among other things, restrictions on additional secured debt and the sale of assets. The Company was in compliance with these covenants at December 31, 2013.

	During 2011, RMC entered into a $50.0 million repurchase credit facility with JPM. This facility is used to fund, and is secured by, mortgages that were originated by RMC and are pending sale. During 2012, the facility was increased to $75.0 million. During 2013, the facility was extended to December 2014. Under the terms of this facility, RMC is required to maintain various financial and other covenants and to satisfy certain requirements relating to the mortgages securing the facility. At December 31, 2013, the Company was in compliance with these covenants. The Company had outstanding borrowings against this credit facility that totaled $73.1 million at December 31, 2013. There were no outstanding borrowings against the facility at December 31, 2012.

Income_Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2013
Income Taxes	'
Income Taxes	'

	Note H: Income Taxes

	Deferred tax assets are recognized for estimated tax effects that are attributable to deductible temporary differences and tax carryforwards related to tax credits and NOLs. They are realized when existing temporary differences are carried back to a profitable year(s) and/or carried forward to a future year(s) having taxable income. Deferred tax assets are reduced by a valuation allowance if an assessment of their components indicates that it is more likely than not that all or some portion of these assets will not be realized. In the assessment for a valuation allowance, appropriate consideration is given to all positive and negative evidence related to the realization of the deferred tax assets. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses; actual earnings; forecasts of future earnings; the duration of statutory carryforward periods; the Company's experience with NOL carryforwards not expiring unused; and tax planning alternatives.

	Prior to the quarter ended June 30, 2013, the Company gave significant weight to the negative, direct evidence of its three-year cumulative pretax loss position that resulted from prior losses incurred during the housing market decline. As of June 30, 2013, the Company generated five consecutive quarters of pretax income and, therefore, its prior losses were weighted less than the recent positive financial results in its evaluation at June 30, 2013. Other negative, indirect evidence, such as negative macroeconomic conditions that included unemployment and consumer confidence, as well as a more restrictive mortgage lending environment, was considered at a lower weighting because the Company's recent financial performance was achieved in this environment. Also, negative direct evidence of the Company's gross profit margins, which were lower than historical levels before the housing downturn, was considered at a lower weight than the positive direct evidence of its growing pretax income levels.

	In the previous three fiscal years, including 2013, 2012 and 2011, the Company generated pretax income of $184.1 million, which included discontinued operations. The last quarterly loss of $5.1 million was for the quarter ended March 31, 2012. For the year ended December 31, 2013, it generated pretax income of $195.8 million, including discontinued operations. As of December 31, 2013, the Company has generated pretax income in each of the last seven quarters totaling $242.9 million. The generation of positive income in the last seven quarters is material, positive evidence that demonstrates the Company's return to the ability to generate consistent profitability and, accordingly, to its ability to realize its deferred tax assets. As such, although several historical periods were considered, the more current evidence was determined to carry greater weight as losses in prior years were primarily due to write-downs of assets in a period of severe decline in real estate values, which was caused by the deterioration of economic conditions and by the evaporation of liquidity and available credit, resulting in a dramatic reduction in demand. These conditions, combined with an oversupply of product amassed over the preceding "boom" years, created an imbalance, which was corrected over the following years through adjustments in valuations, reductions in starts and liquidation of existing inventories at distressed prices. In the past year-and-a-half, prices have begun to increase; sales rates have stabilized at relatively modest levels; write-downs have subsided within the industry; and banking institutions have returned to better health and have begun to supply additional credit to markets. In addition, the Company has replaced higher rate debt with very low rate debt and modified its cost structure to match its current sales levels, thereby allowing it to operate at a substantially profitable level.

	At June 30, 2013, the Company evaluated both positive and negative evidence to determine its ability to realize its deferred tax assets. In its evaluation, the Company gave more significant weight to the objective evidence as compared to the subjective evidence. Also, more significant weight was given to evidence that directly related to the Company's current financial performance than to indirect or less current evidence. The Company gave the most significant weight in its evaluation to positive objective, direct evidence related to its recently improved financial results, especially its five consecutive quarters of pretax income; significant growth in net sales orders, backlog and average closing price; increased community count; and its strong balance sheet and liquidity position during 2013. Additionally, the Company considered, at a lower weighting, positive subjective, direct evidence that it expects to increase its pretax income in future years by utilizing its strong balance sheet and liquidity position to invest in opportunities that will sustain and grow its operations. If industry conditions weaken moderately, the Company expects to be able to adjust its operations to maintain long-term profitability and still realize its deferred tax assets. The Company estimated that if its annual pretax income remains at 2013 levels in future years, it will realize all of its federal NOLs and absorb reversing temporary differences related to previously impaired inventory within the next five tax years, which is well in advance of the expiration date of its NOL carryforwards, which begin to expire in 2031.

	Based on its evaluation of positive and negative evidence described above at June 30, 2013, the Company concluded that the positive evidence outweighed the negative evidence and that it was more likely than not that all of its federal deferred tax assets will be realized. These significant changes in evidence at June 30, 2013, led the Company to determine that it was appropriate to reverse all of the valuation allowance against its deferred tax assets. As a result, at June 30, 2013, the Company reversed $187.5 million of the valuation allowance against its deferred tax assets, which was calculated on an annual basis, during the second quarter of 2013. After the reversal, the Company had a valuation allowance of $46.4 million against its deferred tax assets, which represented an estimation of the allowance required for the second half of 2013. At December 31, 2013, the Company had no valuation allowance against its deferred tax assets.

	Changes in positive and negative evidence, including differences between the Company's future operating results and estimates could result in the establishment of a valuation allowance against its deferred tax assets. The accounting for deferred taxes is based upon estimates of future results. Differences between the anticipated and actual outcomes of these future results could have a material impact on the Company's consolidated results of operations or financial position. Also, changes in existing federal and state tax laws and tax rates could affect future tax results and the valuation allowance against the Company's deferred tax assets.

	At December 31, 2013 and 2012, the Company had net deferred tax assets of $185.9 million and $258.9 million, respectively. There is no valuation allowance as of December 31, 2013. The December 31, 2012, net deferred tax assets, however, were offset by a valuation allowance of $258.9 million.

	For federal purposes, NOLs can be carried forward 20 years; for state purposes, they can generally be carried forward 10 to 20 years, depending on the taxing jurisdiction. Federal NOL carryforwards, if not utilized, will begin to expire in 2031. Additionally, the Company has other carryforwards primarily composed of federal tax credits that can be carried forward 20 years with expiration dates beginning in 2029. The Company anticipates full utilization of these tax credits.

	The Company's provision for income tax presented an overall effective income tax benefit rate of 93.7 percent for the year ended December 31, 2013, primarily related to the reversal of the Company's deferred tax asset valuation allowance. The Company's provision for income tax presented an overall effective income tax expense rate of 3.8 percent for the year ended December 31, 2012, compared to an overall effective income tax benefit rate of 5.3 percent for the year ended December 31, 2011, primarily due to the settlement of previously reserved unrecognized tax benefits.

	The Company made a $1.6 million settlement payment for income tax, interest and penalty to a state taxing authority during 2011. Additionally, it recorded a tax benefit of $2.4 million to reverse the excess reserve previously recorded for the tax position that related to this settlement.

	The following table reconciles the federal income tax statutory rate to the Company's effective income tax rate for the years ended December 31, 2013, 2012 and 2011:


				2013			2012			2011

	Federal income tax statutory rate			35	%		35	%		35	%
	State income taxes, net of federal tax			3.2			3.5			3.2
	Deferred tax valuation allowance			(132.2	)		(39.3	)		(37.8	)
	Compensation expense			0.1			2.7			(1.6	)
	Settlement of uncertain tax positions			–			–			4.6
	Other			0.2			1.9			1.9

	Effective income tax rate			(93.7	)%		3.8	%		5.3	%


	The Company's income tax (benefit) expense for the years ended December 31, 2013, 2012 and 2011, is summarized as follows:


	(in thousands)			2013			2012			2011

	CURRENT TAX EXPENSE (BENEFIT)
	Federal		$	(75	)	$	568		$	(227	)
	State			471			1,017			(2,638	)

	Total current tax expense (benefit)			396			1,585			(2,865	)
	DEFERRED TAX BENEFIT
	Federal			(139,207	)		–			–
	State			(44,597	)		–			–

	Total deferred tax benefit			(183,804	)		–			–

	Total income tax (benefit) expense		$	(183,408	)	$	1,585		$	(2,865	)


	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.

	The following table presents significant components of the Company's deferred tax assets and liabilities:


			DECEMBER 31,
(in thousands)			2013			2012

DEFERRED TAX ASSETS
Warranty, legal and other accruals		$	19,900		$	17,482
Employee benefits			19,054			19,285
Noncash tax charge for impairment of long-lived assets			59,608			88,042
Joint ventures			4,038			4,188
Federal NOL carryforwards			72,248			120,068
Other carryforwards			994			1,057
State NOL carryforwards			37,971			37,893
Other			1,131			912

Total			214,944			288,927
Valuation allowance			–			(258,867	)

Total deferred tax assets			214,944			30,060

DEFERRED TAX LIABILITIES
Deferred recognition of income and gains			(1,196	)		(2,277	)
Capitalized expenses			(24,553	)		(25,748	)
Other			(3,291	)		(2,035	)

Total deferred tax liabilities			(29,040	)		(30,060	)

NET DEFERRED TAX ASSET		$	185,904		$	–


The Company accounts for unrecognized tax benefits in accordance with ASC 740. It accounts for interest and penalties on unrecognized tax benefits through its provision for income taxes. At December 31, 2013, the Company's liability for gross unrecognized tax benefits was $553,000, of which $359,000, if recognized, will affect the Company's effective tax rate. At December 31, 2012, the Company's liability for gross unrecognized tax benefits was $318,000, of which $207,000, if recognized, will affect the Company's effective tax rate. The Company had $46,000 and $18,000 in accrued interest and penalties at December 31, 2013 and 2012, respectively. The Company estimates that, within 12 months, none of its gross state unrecognized tax benefits will reverse due to the anticipated expiration of time to assess tax.

The following table displays a reconciliation of changes in the Company's tax uncertainties:


(in thousands)			2013			2012

Balance at January 1		$	318		$	129
Additions related to prior year positions			235			218
Reductions due to expiration of the statute of limitations			–			(29	)

Balance at December 31		$	553		$	318


As of December 31, 2013, tax years 2010 through 2013 remain subject to examination.

Employee_Savings_Stock_Purchas

Employee Savings, Stock Purchase, Long-Term Incentive and Supplemental Executive Retirement Plans	12 Months Ended
	Dec. 31, 2013
Employee Savings, Stock Purchase, Long-Term Incentive and Supplemental Executive Retirement Plans	'
Employee Savings, Stock Purchase, Long-Term Incentive and Supplemental Executive Retirement Plans	'

	Note I: Employee Savings, Stock Purchase, Long-Term Incentive and Supplemental Executive Retirement Plans

	Retirement Savings Opportunity Plan ("RSOP")

	All full-time employees are eligible to participate in the RSOP. Part-time employees are eligible to participate in the RSOP following the completion of 1,000 hours of service within the first 12 months of employment or within any plan year after the date of hire. Pursuant to Section 401(k) of the Internal Revenue Code, the plan permits deferral of a portion of a participant's income into a variety of investment options. Total compensation expense related to the Company's matching contributions for this plan totaled $2.2 million, $2.0 million and $1.8 million in 2013, 2012 and 2011, respectively.

	Employee Stock Purchase Plan ("ESPP")

	All full-time employees of the Company, with the exception of its executive officers, are eligible to participate in the ESPP. Eligible employees authorize payroll deductions to be made for the purchase of shares. The Company matches a portion of the employee's contribution by donating an additional 20.0 percent of the employee's payroll deduction. Stock is purchased by a plan administrator on a monthly basis. All brokerage and transaction fees for purchasing the stock are paid for by the Company. The Company's expense related to its matching contributions for this plan totaled $193,000, $164,000 and $153,000 in 2013, 2012 and 2011, respectively.

	Long-Term Incentive Plan ("LTIP")

	On February 26, 2013, the compensation committee approved the 2013 Executive Officer Long-Term Incentive Plan pursuant to the 2011 Equity and Incentive Plan. The LTIP provides for a target award of 135,332 performance share units, equivalent to shares of common stock. The LTIP will use a three-year long-term performance period and measure the Company's relative total stockholder return ("TSR") and growth in revenues to determine the amount of performance shares earned at the end of the performance period, which is December 31, 2015. One-half of the target amount of performance shares is earned by an executive officer if the Company's TSR is at the 50^th percentile of the performance of the compensation peer group as measured over the long-term performance period. If the Company's relative TSR performance exceeds or falls below this target level, one-half of the target amount of performance shares earned by an executive officer is calculated such that it is reduced to zero at or below the 30^th percentile level or increased to a maximum level of 200 percent at or above the 90^th percentile level. The other half of the target amount of performance shares is earned if the Company's revenue growth over the long-term performance period is 60 percent. If the Company's revenue growth exceeds or falls below this target level, one-half of the target amount of performance shares earned by an executive officer is calculated such that it is reduced to zero for revenue growth at or below 45 percent or increased to a maximum level of 200 percent for revenue growth at or above 75 percent. There are incremental adjustments for the calculation of earned performance shares between these minimum and maximum levels of performance.

	Supplemental Executive Retirement Plan

	The Company has a supplemental, unfunded nonqualified retirement plan, which generally vests over five-year periods beginning in 2003, pursuant to which it will pay supplemental pension benefits to key employees upon retirement. In connection with the plan, the Company has purchased cost-recovery life insurance on the lives of certain employees. Insurance contracts associated with the plan are held by trusts established as part of the plan to implement and carry out its provisions and to finance its related benefits. The trusts are owners and beneficiaries of such contracts. The amount of coverage is designed to provide sufficient revenue to cover all costs of the plan if assumptions made as to employment term, mortality experience, policy earnings and other factors are realized. At December 31, 2013, the value of the assets held in trust totaled $15.2 million, compared to $13.1 million at December 31, 2012, and was included in "Other" assets within the Consolidated Balance Sheets.

	The net periodic benefit costs of this plan for the year ended December 31, 2013, included interest costs of $1.0 million and service costs of $41,000. As of December 31, 2013, the plan recognized a $1.7 million actuarial loss on the projected benefit obligation due to a change in discount rate, which was included in "Actuarial loss on defined benefit pension plan" within the Consolidated Statements of Other Comprehensive Income. Additionally, the Company recognized an investment gain of $2.1 million on the cash surrender value of the insurance contracts for the year ended December 31, 2013. The net periodic benefit costs of this plan for the year ended December 31, 2012, included interest costs of $1.2 million and service costs of $121,000. Additionally, the Company recognized an investment gain of $1.1 million on the cash surrender value of the insurance contracts and a death benefit of $863,000 for the year ended December 31, 2012. The net periodic benefit costs of this plan for the year ended December 31, 2011, included interest costs of $731,000 and service costs of $347,000. Additionally, the Company recognized an investment loss of $521,000 on the cash surrender value of the insurance contracts for the year ended December 31, 2011. The $15.4 million and $12.7 million projected benefit obligations at December 31, 2013 and 2012, respectively, were equal to the liabilities included in "Accrued and other liabilities" within the Consolidated Balance Sheets at those dates. The weighted-average discount rates used for the plan were 2.0 percent, 5.5 percent and 7.0 percent for 2013, 2012 and 2011, respectively.

	The expected future payouts for the senior executive retirement plan as of December 31, 2013, were as follows: 2014—$90,000; 2015—$1.5 million; 2016—$5.4 million; 2017—$1.6 million; 2018—$2.9 million; and 2019 through 2023—$3.2 million.

StockBased_Compensation

Stock-Based Compensation	12 Months Ended
Stock-Based Compensation	Dec. 31, 2013
Stock-Based Compensation	'
Stock-Based Compensation	'

	Note J: Stock-Based Compensation

	The Ryland Group, Inc. 2011 Equity and Incentive Plan (the "Plan") permits the granting of stock options, restricted stock awards, stock units, cash incentive awards or any combination of the foregoing to employees. Stock options granted in accordance with the Plan generally have a maximum term of seven years and vest in equal annual installments over three years. Certain outstanding stock options granted under predecessor plans have maximum terms of either five or ten years. Outstanding restricted stock units granted under the Plan or its predecessor plans generally vest in three equal annual installments and those granted to senior executives generally vest with performance criteria. At December 31, 2013 and 2012, stock options or other awards or units available for grant under the Plan or its predecessor plans totaled 3,303,855 and 3,016,108, respectively.

	The Ryland Group, Inc. 2011 Non-Employee Director Stock Plan (the "Director Plan") provides for a stock award of 3,000 shares to each non-employee director on May 1 of each year. New non-employee directors will receive a pro rata stock award within 30 days after their date of appointment or election, based on the remaining portion of the plan year in which they are appointed or elected. Stock awards are fully vested and nonforfeitable on their applicable award dates. There were 138,830 and 158,000 stock awards available for future grant in accordance with the Director Plan at December 31, 2013 and 2012, respectively. Previously, The Ryland Group, Inc. 2004 Non-Employee Director Equity Plan and its predecessor plans provided for automatic grants of nonstatutory stock options to directors. These stock options are fully vested and have a maximum term of ten years.

	All outstanding stock options, stock awards and restricted stock awards have been granted in accordance with the terms of the applicable Plan, Director Plan and their respective predecessor plans, all of which were approved by the Company's stockholders. Certain option and share awards provide for accelerated vesting if there is a change in control (as defined in the plans).

	The Company recorded stock-based compensation expense of $19.5 million, $17.8 million and $9.7 million for the years ended December 31, 2013, 2012 and 2011, respectively. Stock-based compensation expenses have been allocated to the Company's business units and included in "Financial services" and "Selling, general and administrative" expenses within the Consolidated Statements of Earnings.

	ASC 718 requires cash flows attributable to tax benefits resulting from tax deductions in excess of compensation costs recognized for exercised stock options ("excess tax benefits") to be classified as financing cash flows. There were no excess tax benefits recognized for the years ended December 31, 2013, 2012 and 2011.

	A summary of stock option activity in accordance with the Company's equity incentive plans as of December 31, 2013, 2012 and 2011, and changes for the years then ended, follows:


				SHARES						WEIGHTED-
							WEIGHTED-			AVERAGE			AGGREGATE
							AVERAGE			REMAINING			INTRINSIC
							EXERCISE			CONTRACTUAL			VALUE
							PRICE			LIFE (in years)			(in
													thousands)

	Options outstanding at January 1, 2011			3,722,656		$	33.29			2.8
	Granted			781,000			16.52
	Exercised			(44,398	)		11.97
	Forfeited			(510,384	)		43.36

	Options outstanding at December 31, 2011			3,948,874		$	28.91			2.4		$	553
	Available for future grant			3,346,508

	Total shares reserved at December 31, 2011			7,295,382

	Options exercisable at December 31, 2011			2,574,246		$	34.35			1.7		$	369

	Options outstanding at January 1, 2012			3,948,874		$	28.91			2.4
	Granted			756,000			18.55
	Exercised			(568,293	)		18.89
	Forfeited			(717,158	)		35.38

	Options outstanding at December 31, 2012			3,419,423		$	26.92			2.9		$	42,992
	Available for future grant			3,016,108

	Total shares reserved at December 31, 2012			6,435,531

	Options exercisable at December 31, 2012			1,967,786		$	33.1			1.6		$	16,939

	Options outstanding at January 1, 2013			3,419,423		$	26.92			2.9
	Granted			–			–
	Exercised			(863,933	)		24.55
	Forfeited			(229,289	)		34.88

	Options outstanding at December 31, 2013			2,326,201		$	27.02			2.3		$	44,123
	Available for future grant			3,303,855

	Total shares reserved at December 31, 2013			5,630,056

	Options exercisable at December 31, 2013			1,650,893		$	30.74			1.6		$	26,908


	A summary of stock options outstanding and exercisable at December 31, 2013, follows:


		OPTIONS OUTSTANDING									OPTIONS EXERCISABLE
						WEIGHTED-			WEIGHTED-			NUMBER			WEIGHTED-
RANGE OF						AVERAGE			AVERAGE			EXERCISABLE			AVERAGE
EXERCISE			NUMBER			REMAINING			EXERCISE						EXERCISE
PRICES			OUTSTANDING			LIFE (in years)			PRICE						PRICE

$14.13 to $18.05			678,133			1.8		$	16.02			454,803		$	15.75
$18.22 to $23.27			1,053,994			3.5			20.36			615,349			21.89
$30.60 to $72.13			594,074			1			51.39			580,741			51.87


The intrinsic values of stock options exercised during the years ended December 31, 2013, 2012 and 2011, totaled $15.3 million, $5.4 million and $284,000, respectively. The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option.

The Company has determined the grant-date fair value of stock options using the Black-Scholes-Merton option-pricing model. Expected volatility is based upon the historical volatility of the Company's common stock. The expected dividend yield is based on an annual dividend rate of $0.12 per common share. The risk-free rate for periods within the contractual life of the stock option award is based upon the zero-coupon U.S. Treasury bond on the date the stock option is granted, with a maturity equal to the expected option life of the stock option granted. The expected option life is derived from historical experience under the Company's share-based payment plans and represents the period of time that a stock option award granted is expected to be outstanding.

There were no stock options granted during the year ended December 31, 2013. The following table presents the weighted-average inputs used and grant date fair values determined for stock options granted during the years ended December 31, 2013, 2012 and 2011:


			2013			2012			2011

Expected volatility			–	%		49.3	%		51	%
Expected dividend yield			–	%		0.7	%		0.7	%
Expected term (in years)			–			4.5			3.5
Risk-free rate			–	%		0.8	%		1.4	%
Weighted-average grant-date fair value		$	–		$	7.21		$	6.02


Pursuant to the Plan, on March 1, 2012, the Company awarded 275,000 stock options to senior executive officers. Effective October 1, 2012, the Company established the 2012 Amended Executive Officer Non-Qualified Stock Option Agreement, which amended the previous grants made to senior executive officers in 2012. In order to encourage a significant level of appreciation in stockholder value, this agreement added a condition to the exercisability of stock options, which requires that the stock option may only be exercised if and when the Company's stock price is greater than or equal to 150 percent of the grant price. In accordance with ASC 718, the Company used a Black-Scholes-Merton option-pricing model to calculate the incremental expense resulting from the modification of the performance stock options. Expected volatility is based upon the historical volatility of the Company's common stock. The expected dividend yield is based on an annual dividend rate of $0.12 per common share. The zero coupon rate of interest is derived from the observable Treasury rates. The expected option life is derived using a Monte Carlo simulation methodology to model the expected exercise and termination behavior of optionees. This incremental expense, plus the grant-date fair value, will be recognized over the requisite service period in stock-based compensation expense.

Stock-based compensation expense related to employee stock options totaled $3.5 million, $5.0 million and $4.0 million for the years ended December 31, 2013, 2012 and 2011, respectively.

A summary of the Company's nonvested options as of and for the years ended December 31, 2013, 2012 and 2011, follows:


		2013						2012						2011
			SHARES			WEIGHTED-			SHARES			WEIGHTED-			SHARES			WEIGHTED-
						AVERAGE						AVERAGE						AVERAGE
						GRANT-DATE						GRANT-DATE						GRANT-DATE
						FAIR VALUE						FAIR VALUE						FAIR VALUE

Nonvested options outstanding at January 1			1,451,637		$	7.08			1,374,628		$	7			1,142,130		$	8.31
Granted			–			–			756,000			7.21			781,000			6.02
Vested			(697,667	)		7.35			(611,659	)		7.03			(498,507	)		8.37
Forfeited			(78,662	)		6.78			(67,332	)		7.47			(49,995	)		7.89

Nonvested options outstanding at December 31			675,308		$	6.84			1,451,637		$	7.08			1,374,628		$	7


At December 31, 2013, the total unrecognized compensation cost related to nonvested stock option awards previously granted under the Company's plans was $2.3 million. That cost is expected to be recognized over the next 1.7 years.

Compensation expense associated with restricted stock unit awards totaled $15.1 million, $12.4 million and $5.3 million for the years ended December 31, 2013, 2012 and 2011, respectively.

The following table summarizes the activity that relates to the Company's restricted stock unit awards:


			2013			2012			2011

Restricted stock units at January 1			774,217			657,825			727,317
Shares awarded			143,594			473,408			305,000
Shares vested			(354,369	)		(350,349	)		(314,492	)
Shares forfeited			(24,336	)		(6,667	)		(60,000	)

Restricted stock units at December 31			539,106			774,217			657,825


At December 31, 2013, the outstanding restricted stock units are expected to vest as follows: 2014—298,979; 2015—193,201; and 2016—46,926.

The Company has granted stock awards to its non-employee directors pursuant to the terms of the Director Plan. The Company recorded stock-based compensation expense related to Director Plan stock awards in the amounts of $838,000, $404,000 and $415,000 for the years ended December 31, 2013, 2012 and 2011, respectively.

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2013
Commitments and Contingencies	'
Commitments and Contingencies	'

	Note K: Commitments and Contingencies

	Commitments

	In the ordinary course of business, the Company acquires rights under option agreements to purchase land or lots for use in future homebuilding operations. At December 31, 2013 and 2012, it had cash deposits and letters of credit outstanding that totaled $73.0 million and $53.1 million, respectively, pertaining to land and lot option purchase contracts with aggregate purchase prices of $869.1 million and $589.6 million, respectively. At December 31, 2013 and 2012, the Company had $2.5 million and $492,000, respectively, in commitments with respect to option contracts having specific performance provisions.

	IRLCs represent loan commitments with customers at market rates generally up to 180 days before settlement. During 2013, the increasing interest rate environment resulted in loan commitments being extended up to 270 days. The Company had outstanding IRLCs with notional amounts that totaled $269.2 million and $137.7 million at December 31, 2013 and 2012, respectively. Hedging instruments, including forward-delivery contracts, are utilized to mitigate the risk associated with interest rate fluctuations on IRLCs.

	The following table summarizes the Company's rent expense, which primarily relates to its office facilities, model homes, furniture and equipment:


			YEAR ENDED DECEMBER 31,
	(in thousands)			2013			2012			2011

	Total rent expense¹		$	6,553		$	5,933		$	7,087
	Less: income from subleases			(323	)		(385	)		(456	)

	Net rent expense		$	6,230		$	5,548		$	6,631


	1
	Excludes rent expense associated with the Company's discontinued operations, which totaled $556,000 and $365,000 for the years ended December 31, 2012 and 2011, respectively.

	At December 31, 2013, future minimum rental commitments under noncancellable leases with remaining terms in excess of one year were as follows:


	(in thousands)

	2014		$	5,301
	2015			4,855
	2016			3,477
	2017			2,460
	2018			1,508
	Thereafter			1,780
	Less: income from subleases			(242	)

	Total lease commitments		$	19,139


	Contingencies

	As an on-site housing producer, the Company is often required by some municipalities to obtain development or performance bonds and letters of credit in support of its contractual obligations. At December 31, 2013, development bonds totaled $138.9 million, while performance-related cash deposits and letters of credit totaled $64.0 million. At December 31, 2012, development bonds totaled $108.4 million, while performance-related cash deposits and letters of credit totaled $52.0 million. In the event that any such bonds or letters of credit are called, the Company would be required to reimburse the issuer; it does not, however, believe that any currently outstanding bonds or letters of credit will be called.

	Substantially all of the loans the Company originates are sold within a short period of time in the secondary mortgage market on a servicing-released basis. After the loans are sold, ownership, credit risk and management, including servicing of the loans, passes to the third-party investor. RMC retains no role or interest other than standard industry representations and warranties. The Company retains potential liability for possible claims by loan purchasers that it breached certain limited standard industry representations and warranties in its sale agreements. There has been an increased industrywide effort by loan purchasers to defray losses from mortgages purchased in an unfavorable economic environment by claiming to have found inaccuracies related to sellers' representations and warranties in particular sale agreements. There is industry debate regarding the extent to which such claims are justified. The significant majority of these claims relate to loans originated in 2005, 2006 and 2007, when underwriting standards were less stringent.

	The following table summarizes the composition of the Company's mortgage loan types originated, its homebuyers' average credit scores and its loan-to-value ratios:


			YEAR ENDED DECEMBER 31,
				2013			2012			2011		2010		2009		2008

	Prime			57.2	%		48.6	%		42.2	%	34.9	%	32.9	%	51.8	%
	Government (FHA/VA/USDA)			42.8			51.4			57.8		65.1		67.1		48.2

	Total			100	%		100	%		100	%	100	%	100	%	100	%
	Average FICO credit score			733			731			726		723		717		711
	Average combined loan-to-value ratio			89.8	%		90.1	%		90.3	%	90.8	%	91.4	%	90.1	%


	While the Company's access to delinquency information is limited subsequent to loan sale, based on a review of information provided voluntarily by certain investors and on government loan reports made available by HUD, the Company believes that the average delinquency rates of RMC's loans are generally in line with industry averages. Delinquency rates for loans originated in 2008 and subsequent years are significantly lower than those originated in 2005 through 2007. The Company primarily attributes this decrease in delinquency rates to the industrywide tightening of credit standards and the elimination of most nontraditional loan products.

	The Company's mortgage operations have established reserves for possible losses associated with mortgage loans previously originated and sold to investors based upon, among other things, actual past repurchases and losses through the disposition of affected loans; an analysis of repurchase requests received and the validity of those requests; and an estimate of potential liability for valid claims not yet received. Although the amount of an ultimate loss cannot be definitively estimated, the Company has accrued $11.5 million for these types of claims as of December 31, 2013, but it may have additional exposure. (See "Part I, Item 3, Legal Proceedings.")

The following table displays changes in the Company's mortgage loan loss reserves and related legal reserves during the years ended December 31, 2013, 2012 and 2011:


(in thousands)			2013			2012			2011

Balance at January 1		$	10,484		$	10,141		$	8,934
Provision for losses			1,580			1,156			1,368
Settlements made			(592	)		(813	)		(161	)

Balance at December 31		$	11,472		$	10,484		$	10,141


Subsequent changes in conditions or available information may change assumptions and estimates. Mortgage loan loss reserves and related legal reserves were included in "Accrued and other liabilities" within the Consolidated Balance Sheets, and their associated expenses were included in "Financial services" expense within the Consolidated Statements of Earnings.

The Company provides product warranties covering workmanship and materials for one year, certain mechanical systems for two years and structural systems for ten years. It estimates and records warranty liabilities based upon historical experience and known risks at the time a home closes as a component of cost of sales, as well as upon identification and quantification of its obligations in cases of unexpected claims. Actual future warranty costs could differ from current estimates.

The following table summarizes changes in the Company's product liability reserves during the years ended December 31, 2013, 2012 and 2011:


(in thousands)			2013			2012			2011

Balance at January 1		$	18,188		$	20,648		$	20,112
Warranties issued			9,052			3,899			3,549
Changes in liability for accruals related to pre-existing warranties			1,891			1,866			2,823
Settlements made			(5,992	)		(8,225	)		(5,836	)

Balance at December 31		$	23,139		$	18,188		$	20,648


The Company requires substantially all of its subcontractors to have workers' compensation insurance and general liability insurance, including construction defect coverage. RHIC provided insurance services to the homebuilding segments' subcontractors in certain markets until June 1, 2008. RHIC insurance reserves may have the effect of lowering the Company's product liability reserves, as collectability of claims against subcontractors enrolled in the RHIC program is generally higher. At December 31, 2013 and 2012, RHIC had $13.9 million and $14.8 million, respectively, in subcontractor product liability reserves, which were included in "Accrued and other liabilities" within the Consolidated Balance Sheets. Reserves for loss and loss adjustment expense are based upon industry trends and the Company's annual actuarial projections of historical loss development.

The following table displays changes in RHIC's insurance reserves during the years ended December 31, 2013, 2012 and 2011:


(in thousands)			2013			2012			2011

Balance at January 1		$	14,813		$	18,209		$	21,141
Insurance expense provisions or adjustments			1,445			(1,369	)		(900	)
Loss expenses paid			(2,401	)		(2,027	)		(2,032	)

Balance at December 31		$	13,857		$	14,813		$	18,209


Expense provisions or adjustments to RHIC's insurance reserves were included in "Financial services" expense within the Consolidated Statements of Earnings.

The Company is party to various legal proceedings generally incidental to its businesses. Litigation reserves have been established based on discussions with counsel and on the Company's analysis of historical claims. The Company has, and requires its subcontractors to have, general liability insurance to protect it against a portion of its risk of loss and to cover it against construction-related claims. The Company establishes reserves to cover its self-insured retentions and deductible amounts under those policies.

In view of the inherent unpredictability of outcomes in legal matters, particularly where (a) damages sought are speculative, unspecified or indeterminate; (b) proceedings are in the early stages or impacted significantly by future legal determinations or judicial decisions; (c) matters involve unsettled questions of law, multiple parties, or complex facts and circumstances; or (d) insured risk transfer or coverage is undetermined, there is considerable uncertainty surrounding the timing or resolution of these matters, including a possible eventual loss. Given this inherent unpredictability, actual future litigation costs could differ from the Company's current estimates. At the same time, the Company believes that adequate provisions have been made for the resolution of all known claims and pending litigation for probable losses. In accordance with ASC No. 450 ("ASC 450"), "Contingencies," the Company accrues amounts for legal matters where it believes they present loss contingencies that are both probable and reasonably estimable. In such cases, however, the Company may be exposed to losses in excess of any amounts accrued and may need to adjust the accruals from time to time to reflect developments that could affect its estimate of potential losses. Moreover, in accordance with ASC 450, if the Company does not believe that the potential loss from a particular matter is both probable and reasonably estimable, it does not make an accrual and will monitor the matter for any developments that would make the loss contingency both probable and reasonably estimable. For matters as to which the Company believes a loss is probable and reasonably estimable, it had legal reserves of $17.2 million and $17.9 million at December 31, 2013 and 2012, respectively. (See "Part I, Item 3, Legal Proceedings.") It currently estimates that the range of reasonably possible losses, in excess of amounts accrued, could be up to approximately $10 million in the aggregate.

Supplemental_Guarantor_Informa

Supplemental Guarantor Information	12 Months Ended
Supplemental Guarantor Information	Dec. 31, 2013
Supplemental Guarantor Information	'
Supplemental Guarantor Information	'

	Note L: Supplemental Guarantor Information

	The Company's obligations to pay principal, premium, if any, and interest under its 5.4 percent senior notes due January 2015; 8.4 percent senior notes due May 2017; 1.6 percent convertible senior notes due May 2018; 0.25 percent convertible senior notes due June 2019; 6.6 percent senior notes due May 2020; and 5.4 percent senior notes due October 2022 are guaranteed on a joint and several basis by substantially all of its Guarantor Subsidiaries. Such guarantees are full and unconditional.

	In lieu of providing separate financial statements for the Guarantor Subsidiaries, the accompanying condensed consolidating financial statements have been included. Management does not believe that separate financial statements for the Guarantor Subsidiaries are material to investors and are, therefore, not presented.

	In the event that a Guarantor Subsidiary is sold or disposed of (whether by merger, consolidation, sale of its capital stock, or sale of all or substantially all of its assets [other than by lease]), and whether or not the Guarantor Subsidiary is the surviving corporation in such transaction to a Person which is not the Company or a Restricted Subsidiary of the Company, such Guarantor Subsidiary will be released from its obligations under its guarantee if (a) the sale or other disposition is in compliance with the indenture and (b) all the obligations of such Guarantor Subsidiary under any agreements relating to any other indebtedness of the Company or its restricted subsidiaries terminate upon consummation of such transaction. In addition, a Guarantor Subsidiary will be released from its obligations under the indenture if such Subsidiary ceases to be a Restricted Subsidiary (in compliance with the applicable provisions of the indenture).

	The following information presents the consolidating statements of earnings, financial position and cash flows for (a) the parent company and issuer, The Ryland Group, Inc. ("TRG, Inc."); (b) the Guarantor Subsidiaries; (c) the non-Guarantor Subsidiaries; and (d) the consolidation eliminations used to arrive at the consolidated information for The Ryland Group, Inc. and subsidiaries.

	CONSOLIDATING STATEMENTS OF EARNINGS


			YEAR ENDED DECEMBER 31, 2013
				TRG, INC.						NON-
							GUARANTOR			GUARANTOR SUBSIDIARIES			CONSOLIDATING			CONSOLIDATED
	(in thousands)						SUBSIDIARIES						ELIMINATIONS			TOTAL

	REVENUES		$	1,207,509		$	921,252		$	51,380		$	(39,386	)	$	2,140,755
	EXPENSES			1,097,280			857,707			31,312			(39,386	)		1,946,913
	OTHER INCOME			1,849			–			–			–			1,849

	Income from continuing			112,078			63,545			20,068			–			195,691
	operations before taxes			112,078			63,545			20,068			–			195,691
	Tax benefit			(105,043	)		(59,557	)		(18,808	)		–			(183,408	)
	Equity in net earnings of subsidiaries			161,978			–			–			(161,978	)		–

	Net income from continuing			379,099			123,102			38,876			(161,978	)		379,099
	operations			379,099			123,102			38,876			(161,978	)		379,099
	Income from discontinued operations, net of taxes			106			1			–			(1	)		106

	NET INCOME		$	379,205		$	123,103		$	38,876		$	(161,979	)	$	379,205






				YEAR ENDED DECEMBER 31, 2012

	REVENUES		$	711,947		$	562,181		$	37,619		$	(3,281	)	$	1,308,466
	EXPENSES			688,026			548,345			24,477			(3,281	)		1,257,567
	OTHER LOSS			(6,932	)		–			–			–			(6,932	)

	Income from continuing			16,989			13,836			13,142			–			43,967
	operations before taxes			16,989			13,836			13,142			–			43,967
	Tax expense			612			499			474			–			1,585
	Equity in net earnings of subsidiaries			26,005			–			–			(26,005	)		–

	Net income from continuing			42,382			13,337			12,668			(26,005	)		42,382
	operations			42,382			13,337			12,668			(26,005	)		42,382
	Loss from discontinued operations,			(2,000	)		(1,018	)		–			1,018			(2,000	)
	net of taxes			(2,000	)		(1,018	)		–			1,018			(2,000	)

	NET INCOME		$	40,382		$	12,319		$	12,668		$	(24,987	)	$	40,382






				YEAR ENDED DECEMBER 31, 2011

REVENUES		$	458,500		$	404,104		$	26,927		$	–		$	889,531
EXPENSES			491,505			411,844			21,188			–			924,537
OTHER INCOME			2,274			–			–			–			2,274

(Loss) income from continuing operations before taxes			(30,731	)		(7,740	)		5,739			–			(32,732	)
Tax (benefit) expense			(2,690	)		(677	)		502			–			(2,865	)
Equity in net loss of subsidiaries			(1,826	)		–			–			1,826			–

Net (loss) income from continuing operations			(29,867	)		(7,063	)		5,237			1,826			(29,867	)
Loss from discontinued operations,			(20,883	)		(5,763	)		–			5,763			(20,883	)
net of taxes			(20,883	)		(5,763	)		–			5,763			(20,883	)

NET (LOSS) INCOME		$	(50,750	)	$	(12,826	)	$	5,237		$	7,589		$	(50,750	)


CONSOLIDATING STATEMENTS OF OTHER COMPREHENSIVE INCOME


		YEAR ENDED DECEMBER 31, 2013
			TRG, INC.						NON-			CONSOLIDATING			CONSOLIDATED
						GUARANTOR			GUARANTOR			ELIMINATIONS			TOTAL
(in thousands)						SUBSIDIARIES			SUBSIDIARIES

Net income		$	379,205		$	123,103		$	38,876		$	(161,979	)	$	379,205
Other comprehensive loss before tax:
Actuarial loss on defined benefit pension plan			(1,411	)		(134	)		(129	)		–			(1,674	)
Unrealized loss on marketable
securities, available-for-sale:
Unrealized loss			(279	)		–			–			–			(279	)
Less: reclassification adjustments for losses included in net income			64			–			–			–			64

			(215	)		–			–			–			(215	)
Other comprehensive loss before tax			(1,626	)		(134	)		(129	)		–			(1,889	)
Income tax benefit related to items			540			51			49			–			640
of other comprehensive loss			540			51			49			–			640
Other comprehensive loss, net of tax			(1,086	)		(83	)		(80	)		–			(1,249	)

Comprehensive income		$	378,119		$	123,020		$	38,796		$	(161,979	)	$	377,956






			YEAR ENDED DECEMBER 31, 2012

Net income		$	40,382		$	12,319		$	12,668		$	(24,987	)	$	40,382
Other comprehensive loss before tax:
Reduction of unrealized gain related to cash flow hedging instruments			(1,709	)		–			–			–			(1,709	)
Unrealized gain on marketable securities, available-for-sale:
Unrealized gain			1,217			–			–			–			1,217
Less: reclassification adjustments for gains included in net income			(233	)		–			–			–			(233	)

			984			–			–			–			984
Other comprehensive loss before tax			(725	)		–			–			–			(725	)
Income tax benefit related to items			653												653
of other comprehensive loss			653												653
Other comprehensive loss, net of tax			(72	)		–			–			–			(72	)

Comprehensive income		$	40,310		$	12,319		$	12,668		$	(24,987	)	$	40,310






			YEAR ENDED DECEMBER 31, 2011

Net (loss) income		$	(50,750	)	$	(12,826	)	$	5,237		$	7,589		$	(50,750	)
Other comprehensive loss before tax:
Reduction of unrealized gain related to cash flow hedging instruments			(1,207	)		–			–			–			(1,207	)
Unrealized loss on marketable securities, available-for-sale:
Unrealized gain			360			–			–			–			360
Less: reclassification adjustments for gains included in net (loss) income			(1,358	)		–			–			–			(1,358	)

			(998	)		–			–			–			(998	)
Other comprehensive loss before tax			(2,205	)		–			–			–			(2,205	)
Income tax benefit related to items			502			–			–			–			502
of other comprehensive loss			502			–			–			–			502
Other comprehensive loss, net of tax			(1,703	)		–			–			–			(1,703	)

Comprehensive (loss) income		$	(52,453	)	$	(12,826	)	$	5,237		$	7,589		$	(52,453	)


CONSOLIDATING BALANCE SHEETS


		DECEMBER 31, 2013
			TRG, INC.			GUARANTOR SUBSIDIARIES			NON-			CONSOLIDATING ELIMINATIONS			CONSOLIDATED TOTAL
									GUARANTOR SUBSIDIARIES
(in thousands)

ASSETS
Cash and cash equivalents		$	25,521		$	193,356		$	9,109		$	–		$	227,986
Marketable securities and restricted cash			377,267			–			25,922			–			403,189
Consolidated inventory owned			955,943			660,664			–			–			1,616,607
Consolidated inventory not owned			17,297			–			15,879			–			33,176

Total housing inventories			973,240			660,664			15,879			–			1,649,783
Investment in subsidiaries			369,580			–			–			(369,580	)		–
Intercompany receivables			517,057			–			–			(517,057	)		–
Other assets			290,153			54,052			155,149			–			499,354
Assets of discontinued operations			–			30			–			–			30

TOTAL ASSETS			2,552,818			908,102			206,059			(886,637	)		2,780,342

LIABILITIES
Accounts payable and other accrued liabilities			247,328			106,420			31,773			–			385,521
Financial services credit facility			–			–			73,084			–			73,084
Debt			1,397,308			–			–			–			1,397,308
Intercompany payables			–			465,252			51,805			(517,057	)		–
Liabilities of discontinued operations			136			368			–			–			504

TOTAL LIABILITIES			1,644,772			572,040			156,662			(517,057	)		1,856,417

EQUITY
STOCKHOLDERS' EQUITY			908,046			336,062			33,518			(369,580	)		908,046
NONCONTROLLING INTEREST			–			–			15,879			–			15,879

TOTAL LIABILITIES AND EQUITY		$	2,552,818		$	908,102		$	206,059		$	(886,637	)	$	2,780,342






			31-Dec-12

ASSETS
Cash and cash equivalents		$	32,130		$	117,838		$	8,119		$	–		$	158,087
Marketable securities and restricted cash			429,057			–			27,461			–			456,518
Consolidated inventory owned			643,619			394,309			–			–			1,037,928
Consolidated inventory not owned			17,666			–			21,824			–			39,490

Total housing inventories			661,285			394,309			21,824			–			1,077,418
Investment in subsidiaries			244,917			–			–			(244,917	)		–
Intercompany receivables			368,126			–			–			(368,126	)		–
Other assets			76,183			43,572			119,661			–			239,416
Assets of discontinued operations			187			2,293			–			–			2,480

TOTAL ASSETS			1,811,885			558,012			177,065			(613,043	)		1,933,919

LIABILITIES
Accounts payable and other accrued liabilities			172,906			68,929			30,320			–			272,155
Debt			1,134,468			–			–			–			1,134,468
Intercompany payables			–			275,163			92,963			(368,126	)		–
Liabilities of discontinued operations			575			961			–			–			1,536

TOTAL LIABILITIES			1,307,949			345,053			123,283			(368,126	)		1,408,159

EQUITY
STOCKHOLDERS' EQUITY			503,936			212,959			31,958			(244,917	)		503,936
NONCONTROLLING INTEREST			–			–			21,824			–			21,824

TOTAL LIABILITIES AND EQUITY		$	1,811,885		$	558,012		$	177,065		$	(613,043	)	$	1,933,919


CONSOLIDATING STATEMENT OF CASH FLOWS


		YEAR ENDED DECEMBER 31, 2013
			TRG, INC.			GUARANTOR			NON-			CONSOLIDATING			CONSOLIDATED
						SUBSIDIARIES			GUARANTOR			ELIMINATIONS			TOTAL
(in thousands)									SUBSIDIARIES

CASH FLOWS FROM OPERATING ACTIVITIES
Net income from continuing operations		$	379,099		$	123,102		$	38,876		$	(161,978	)	$	379,099
Adjustments to reconcile net income from continuing operations to net cash used for operating activities			(225,954	)		8,225			281			–			(217,448	)
Changes in assets and liabilities			(317,140	)		(202,163	)		(71,030	)		161,978			(428,355	)
Other operating activities, net			(1,264	)		–			–			–			(1,264	)

Net cash used for operating activities from continuing operations			(165,259	)		(70,836	)		(31,873	)		–			(267,968	)

CASH FLOWS FROM INVESTING ACTIVITIES
Contributions to unconsolidated joint ventures, net			(302	)		(2,925	)		–			–			(3,227	)
Additions to property, plant and equipment			(9,546	)		(9,760	)		(602	)		–			(19,908	)
Purchases of marketable securities, available-for-sale			(752,043	)		–			(4,174	)		–			(756,217	)
Proceeds from sales and maturities of marketable securities, available-for-sale			823,759			–			5,573			–			829,332
Cash paid for business acquisitions			(19,880	)		(31,050	)		–			–			(50,930	)

Net cash provided by (used for) investing activities from continuing operations			41,988			(43,735	)		797			–			(950	)

CASH FLOWS FROM FINANCING ACTIVITIES
Increase in debt			262,202			–			–			–			262,202
Increase in borrowings against revolving credit facilities, net			–			–			73,084			–			73,084
Common stock dividends and stock-based compensation			22,672			–			–			–			22,672
Increase (decrease) in restricted cash			(19,281	)		–			140			–			(19,141	)
Intercompany balances			(148,931	)		190,089			(41,158	)		–			–

Net cash provided by financing activities from continuing operations			116,662			190,089			32,066			–			338,817

Net (decrease) increase in cash and cash equivalents from continuing operations			(6,609	)		75,518			990			–			69,899
Cash flows from operating activities—discontinued operations			–			(25	)		–			–			(25	)
Cash flows from investing activities—discontinued operations			–			25			–			–			25
Cash flows from financing activities—discontinued operations			–			–			–			–			–
Cash and cash equivalents at beginning of year			32,130			117,865			8,119			–			158,114

CASH AND CASH EQUIVALENTS AT END OF YEAR		$	25,521		$	193,383		$	9,109		$	–		$	228,013





CONSOLIDATING STATEMENT OF CASH FLOWS


		YEAR ENDED DECEMBER 31, 2012
			TRG, INC.			GUARANTOR			NON-			CONSOLIDATING			CONSOLIDATED
						SUBSIDIARIES			GUARANTOR			ELIMINATIONS			TOTAL
(in thousands)									SUBSIDIARIES

CASH FLOWS FROM OPERATING ACTIVITIES
Net income from continuing operations		$	42,382		$	13,337		$	12,668		$	(26,005	)	$	42,382
Adjustments to reconcile net income from continuing operations to net cash used for operating activities			28,164			7,873			500			–			36,537
Changes in assets and liabilities			(128,700	)		(56,003	)		(40,608	)		26,005			(199,306	)
Other operating activities, net			(792	)		–			–			–			(792	)

Net cash used for operating activities from continuing operations			(58,946	)		(34,793	)		(27,440	)		–			(121,179	)

CASH FLOWS FROM INVESTING ACTIVITIES
Return of investment in unconsolidated joint ventures, net			708			1,602			–			–			2,310
Additions to property, plant and equipment			(7,596	)		(4,560	)		(68	)		–			(12,224	)
Purchases of marketable securities, available-for-sale			(1,170,627	)		–			(5,481	)		–			(1,176,108	)
Proceeds from sales and maturities of marketable securities, available-for-sale			1,134,675			–			6,293			–			1,140,968
Cash paid for business acquisitions			(80,182	)		–			–			–			(80,182	)
Other investing activities, net			–			–			109			–			109

Net cash (used for) provided by investing activities from continuing operations			(123,022	)		(2,958	)		853			–			(125,127	)

CASH FLOWS FROM FINANCING ACTIVITIES
Increase (decrease) in debt			301,145			(1,188	)		(22	)		–			299,935
Decrease in borrowings against revolving credit facilities, net			–			–			(49,933	)		–			(49,933	)
Common stock dividends and stock-based compensation			8,955			–			–			–			8,955
(Increase) decrease in restricted cash			(18,658	)		–			4,814			–			(13,844	)
Intercompany balances			(102,914	)		39,705			63,209			–			–

Net cash provided by financing activities from continuing operations			188,528			38,517			18,068			–			245,113

Net increase (decrease) in cash and cash equivalents from continuing operations			6,560			766			(8,519	)		–			(1,193	)
Cash flows from operating activities—discontinued operations			(31	)		(73	)		–			–			(104	)
Cash flows from investing activities—discontinued operations			4			71			–			–			75
Cash flows from financing activities—discontinued operations			–			–			–			–			–
Cash and cash equivalents at beginning of year			25,597			117,101			16,638			–			159,336

CASH AND CASH EQUIVALENTS AT END OF YEAR		$	32,130		$	117,865		$	8,119		$	–		$	158,114


CONSOLIDATING STATEMENT OF CASH FLOWS


		YEAR ENDED DECEMBER 31, 2011
			TRG, INC.			GUARANTOR			NON-			CONSOLIDATING			CONSOLIDATED
						SUBSIDIARIES			GUARANTOR			ELIMINATIONS			TOTAL
(in thousands)									SUBSIDIARIES

CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income from continuing operations		$	(29,867	)	$	(7,063	)	$	5,237		$	1,826		$	(29,867	)
Adjustments to reconcile net (loss) income from continuing operations to net cash used for operating activities			51,325			6,564			588			–			58,477
Changes in assets and liabilities			(58,187	)		(40,741	)		(84,536	)		(1,826	)		(185,290	)
Other operating activities, net			(988	)		–			–			–			(988	)

Net cash used for operating activities from continuing operations			(37,717	)		(41,240	)		(78,711	)		–			(157,668	)

CASH FLOWS FROM INVESTING ACTIVITIES
(Contributions to) return of investment in unconsolidated joint ventures, net			(912	)		2,867			–			–			1,955
Additions to property, plant and equipment			(7,368	)		(3,443	)		(153	)		–			(10,964	)
Purchases of marketable securities, available-for-sale			(1,307,894	)		–			(5,387	)		–			(1,313,281	)
Proceeds from sales and maturities of marketable securities, available-for-sale			1,397,566			–			6,564			–			1,404,130
Other investing activities, net			–			–			118			–			118

Net cash provided by (used for) investing activities from continuing operations			81,392			(576	)		1,142			–			81,958

CASH FLOWS FROM FINANCING ACTIVITIES
Decrease in debt			(55,243	)		(2,784	)		–			–			(58,027	)
Increase in borrowings against revolving credit facilities, net			–			–			49,933			–			49,933
Common stock dividends and stock-based compensation			(1,783	)		–			–			–			(1,783	)
Decrease (increase) in restricted cash			18,315			–			(326	)		–			17,989
Intercompany balances			(6,625	)		(15,480	)		22,105			–			–

Net cash (used for) provided by financing activities from continuing operations			(45,336	)		(18,264	)		71,712			–			8,112

Net decrease in cash and cash equivalents from continuing operations			(1,661	)		(60,080	)		(5,857	)		–			(67,598	)
Cash flows from operating activities—discontinued operations			353			116			–			–			469
Cash flows from investing activities—discontinued operations			(237	)		(126	)		–			–			(363	)
Cash flows from financing activities—discontinued operations			(89	)		–			–			–			(89	)
Cash and cash equivalents at beginning of year			27,231			177,191			22,495			–			226,917

CASH AND CASH EQUIVALENTS AT END OF YEAR		$	25,597		$	117,101		$	16,638		$	–		$	159,336

Discontinued_Operations

Discontinued Operations	12 Months Ended
Discontinued Operations	Dec. 31, 2013
Discontinued Operations	'
Discontinued Operations	'

	Note M: Discontinued Operations

	During 2011, the Company discontinued homebuilding operations in its Jacksonville and Dallas divisions. Since then, the Company sold its land from discontinued operations as part of a strategic plan designed to efficiently manage its invested capital. The results of operations and cash flows for Jacksonville and Dallas, which were historically reported in the Company's Southeast and Texas segments, respectively, were classified as discontinued operations. Additionally, the assets and liabilities related to these discontinued operations were presented separately in "Assets of discontinued operations" and "Liabilities of discontinued operations" within the Consolidated Balance Sheets. During 2013, the Company acquired the operations and assets of LionsGate Homes in Dallas, Texas. Therefore, homebuilding operations in Dallas have been classified as continuing operations.

	BALANCE SHEETS


		DECEMBER 31,
	(in thousands)		2013		2012

	Assets
	Cash and cash equivalents	$	27	$	27
	Housing inventories		–		2,239
	Other assets		3		214

	Total assets of discontinued operations		30		2,480
	Liabilities
	Accounts payable and accrued liabilities		504		1,536

	Total liabilities of discontinued operations	$	504	$	1,536


	The Company's net income from discontinued operations totaled $106,000 for the year ended December 31, 2013, compared to net losses that totaled $2.0 million and $20.9 million for the years ended December 31, 2012 and 2011, respectively.

Subsequent_Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2013
Subsequent Events	'
Subsequent Events	'

	Note N: Subsequent Events

	No events have occurred subsequent to December 31, 2013, that have required recognition or disclosure in the Company's financial statements.

Quarterly_Financial_Data_Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
Quarterly Financial Data (Unaudited)	Dec. 31, 2013
Quarterly Financial Data (Unaudited)	'
Quarterly Financial Data (Unaudited)	'

	Note O: Quarterly Financial Data (Unaudited)


		2013										2012
	(in thousands, except per share data)		DEC. 31			SEPT. 30		JUN. 30			MAR. 31		DEC. 31			SEPT. 30		JUN. 30		MAR. 31

	CONSOLIDATED RESULTS
	Revenues	$	696,657		$	576,423	$	492,995		$	374,680	$	440,135		$	358,693	$	293,769	$	215,869
	Income (loss) from continuing operations before taxes		75,223			53,986		44,279			22,203		30,319			10,430		6,239		(3,021	)
	Tax expense (benefit)		2,917			428		(186,952	)		199		1,372			23		190		–

	Net income (loss) from continuing operations		72,306			53,558		231,231			22,004		28,947			10,407		6,049		(3,021	)
	(Loss) income from discontinued operations, net of taxes		(61	)		91		(37	)		113		(374	)		238		223		(2,087	)

	Net income (loss)	$	72,245		$	53,649	$	231,194		$	22,117	$	28,573		$	10,645	$	6,272	$	(5,108	)

	Net income (loss) per common share:
	Basic
	Continuing operations	$	1.56		$	1.16	$	5.01		$	0.48	$	0.64		$	0.23	$	0.14	$	(0.07	)
	Discontinued operations		0			0		0			0		(0.01	)		0.01		0		(0.04	)

	Total		1.56			1.16		5.01			0.48		0.63			0.24		0.14		(0.11	)
	Diluted
	Continuing operations		1.27			0.95		4.16			0.43		0.56			0.21		0.14		(0.07	)
	Discontinued operations		0			0		0			0		(0.01	)		0.01		0		(0.04	)

	Total	$	1.27		$	0.95	$	4.16		$	0.43	$	0.55		$	0.22	$	0.14	$	(0.11	)
	Weighted-average common shares outstanding:
	Basic		46,216			46,175		46,036			45,435		45,115			44,826		44,628		44,474
	Diluted		57,807			57,679		55,690			53,362		53,053			52,466		48,395		44,474

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2013

Summary of Significant Accounting Policies

Basis of Presentation

Use of Estimates

Cash and Cash Equivalents

Restricted Cash

Marketable Securities, Available-for-sale

Homebuilding Revenues

Housing Inventories

(in thousands)

2013

2012

2011

Capitalized interest at January 1

82,773

81,058

75,094

Interest capitalized

59,208

42,327

38,032

Interest amortized to cost of sales

(52,362

)

(40,612

)

(32,068

)

Capitalized interest at December 31

89,619

82,773

81,058

The following table summarizes each reporting segment's total number of lots owned and lots controlled under option agreements (unaudited):

DECEMBER 31, 2013

DECEMBER 31, 2012

LOTS

TOTAL

LOTS

TOTAL

OWNED

OPTIONED

OWNED

OPTIONED

North

6,382

7,455

13,837

5,471

4,056

9,527

Southeast

8,114

2,439

10,553

7,268

2,121

9,389

Texas

3,886

3,147

7,033

2,438

2,667

5,105

West

5,158

1,561

6,719

2,604

1,680

4,284

Total

23,540

14,602

38,142

17,781

10,524

28,305

Additionally, at December 31, 2013 and 2012, the Company controlled 5 lots and 479 lots, respectively, associated with discontinued operations, all of which were owned.

Transactions with Affiliates

Goodwill and Other Intangible Assets

Variable Interest Entities ("VIE")

Investments in Joint Ventures

The following table summarizes each reporting segment's total estimated share of lots owned by the Company under its joint ventures (unaudited):

31-Dec-13

31-Dec-12

North

150

145

Texas

252

–

West

226

172

Total

628

317

Property, Plant and Equipment

Service Liabilities

Service, warranty and completion costs are estimated and accrued at the time a home closes and are updated as experience requires.

Advertising Costs

Loan Origination Fees, Mortgage Discount Points and Loan Sales

Derivative Instruments

Comprehensive Income

Accumulated Other Comprehensive (Loss) Income

Income Taxes

Per Share Data

Stock-Based Compensation

New Accounting Pronouncements

ASU 2013-11

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Dec. 31, 2013
Summary of Significant Accounting Policies	'
Summary of activity that relates to capitalized interest	'






	(in thousands)		2013			2012			2011

	Capitalized interest at January 1	$	82,773		$	81,058		$	75,094
	Interest capitalized		59,208			42,327			38,032
	Interest amortized to cost of sales		(52,362	)		(40,612	)		(32,068	)

	Capitalized interest at December 31	$	89,619		$	82,773		$	81,058

Summary of each reporting segment's total number of lots owned and lots controlled under option agreements	'






		DECEMBER 31, 2013									DECEMBER 31, 2012
			LOTS			LOTS			TOTAL			LOTS	LOTS	TOTAL
			OWNED			OPTIONED			TOTAL			OWNED	OPTIONED	TOTAL

	North		6,382			7,455			13,837			5,471	4,056	9,527
	Southeast		8,114			2,439			10,553			7,268	2,121	9,389
	Texas		3,886			3,147			7,033			2,438	2,667	5,105
	West		5,158			1,561			6,719			2,604	1,680	4,284

	Total		23,540			14,602			38,142			17,781	10,524	28,305

Schedule of each reporting segment's total estimated share of lots owned by the Company under its joint	'






			31-Dec-13			31-Dec-12

	North		150			145
	Texas		252			–
	West		226			172

	Total		628			317

Segment_Information_Tables

Segment Information (Tables)	12 Months Ended
Segment Information (Tables)	Dec. 31, 2013
Segment Information	'
Schedule of segment revenues, earnings (loss) before taxes and depreciation and amortization	'




		YEAR ENDED DECEMBER 31,
	(in thousands)		2013			2012			2011

	REVENUES
	Homebuilding
	North	$	617,550		$	393,238		$	299,595
	Southeast		597,933			355,621			218,672
	Texas		448,828			323,162			262,321
	West		425,064			198,826			82,016
	Financial services		51,380			37,619			26,927

	Total	$	2,140,755		$	1,308,466		$	889,531

	EARNINGS (LOSS) BEFORE TAXES
	Homebuilding
	North	$	52,440		$	11,602		$	(9,054	)
	Southeast		65,510			18,566			(11,676	)
	Texas		39,030			22,984			9,243
	West		46,546			10,732			(5,326	)
	Financial services		20,068			13,142			5,739
	Corporate and unallocated		(27,903	)		(33,059	)		(21,658	)

	Total	$	195,691		$	43,967		$	(32,732	)

	DEPRECIATION AND AMORTIZATION
	Homebuilding
	North	$	5,819		$	4,710		$	3,527
	Southeast		5,629			4,308			3,145
	Texas		3,960			2,834			2,610
	West		4,569			2,984			1,295
	Financial services		175			78			181
	Corporate and unallocated		365			485			554

	Total	$	20,517		$	15,399		$	11,312

Schedule of segment total assets	'




		DECEMBER 31, 2013
	(in thousands)		HOUSING INVENTORIES			OTHER ASSETS			TOTAL ASSETS

	Homebuilding
	North	$	464,777		$	48,314		$	513,091
	Southeast		397,237			24,143			421,380
	Texas		290,018			37,310			327,328
	West		497,751			30,248			527,999
	Financial services		–			193,652			193,652
	Corporate and unallocated		–			796,862			796,862

	Total	$	1,649,783		$	1,130,529		$	2,780,312






		DECEMBER 31, 2012
	Homebuilding
	North	$	378,523		$	29,818		$	408,341
	Southeast		292,288			22,755			315,043
	Texas		174,153			22,244			196,397
	West		232,454			41,596			274,050
	Financial services		–			157,781			157,781
	Corporate and unallocated		–			579,827			579,827

	Total	$	1,077,418		$	854,021		$	1,931,439

Earnings_Per_Share_Reconciliat1

Earnings Per Share Reconciliation (Tables)	12 Months Ended
Earnings Per Share Reconciliation (Tables)	Dec. 31, 2013
Earnings Per Share Reconciliation	'
Computation of basic and diluted earnings per share	'




		YEAR ENDED DECEMBER 31,
	(in thousands, except share data)		2013			2012			2011

	NUMERATOR
	Net income (loss) from continuing operations	$	379,099		$	42,382		$	(29,867	)
	Net income (loss) from discontinued operations		106			(2,000	)		(20,883	)
	Less: distributed earnings allocated to nonvested restricted stock		(13	)		(42	)		–
	Less: undistributed earnings allocated to nonvested restricted stock		(1,135	)		(313	)		–

	Numerator for basic income (loss) per share		378,057			40,027			(50,750	)

	Plus: interest on 1.6 percent convertible senior notes due 2018		2,916			1,829			–
	Plus: interest on 0.25 percent convertible senior notes due 2019		710			–			–
	Plus: undistributed earnings allocated to nonvested restricted stock		1,135			313			–
	Less: undistributed earnings reallocated to nonvested restricted stock		(931	)		(284	)		–

	Numerator for diluted income (loss) per share	$	381,887		$	41,885		$	(50,750	)

	DENOMINATOR
	Basic earnings per share—weighted-average shares		45,966,307			44,761,178			44,357,470
	Effect of dilutive securities:
	Share-based payments		1,031,656			487,443			–
	1.6 percent convertible senior notes due 2018		7,023,780			4,406,700			–
	0.25 percent convertible senior notes due 2019		2,198,196			–			–

	Diluted earnings per share—adjusted weighted-average shares and assumed conversions		56,219,939			49,655,321			44,357,470

	NET INCOME (LOSS) PER COMMON SHARE
	Basic
	Continuing operations	$	8.22		$	0.93		$	(0.67	)
	Discontinued operations		0			(0.04	)		(0.47	)

	Total		8.22			0.89			(1.14	)
	Diluted
	Continuing operations		6.79			0.88			(0.67	)
	Discontinued operations		0			(0.04	)		(0.47	)

	Total	$	6.79		$	0.84		$	(1.14	)

Derivative_Instruments_Tables

Derivative Instruments (Tables)	12 Months Ended
Derivative Instruments (Tables)	Dec. 31, 2013
Derivative Instruments	'
Contract or notional amounts of derivative financial instruments	'




		DECEMBER 31,
	(in thousands)		2013		2012

	Mortgage interest rate lock commitments	$	269,210	$	137,741
	Hedging contracts:
	Forward-delivery contracts	$	118,000	$	68,000

Marketable_Securities_Availabl1

Marketable Securities, Available-for-sale (Tables)	12 Months Ended
Marketable Securities, Available-for-sale (Tables)	Dec. 31, 2013
Marketable Securities, Available-for-sale	'
Fair value of the available-for-sale marketable securities, by type of security	'




		DECEMBER 31, 2013
	(in thousands)		AMORTIZED		GROSS		GROSS			ESTIMATED
			COST		UNREALIZED		UNREALIZED			FAIR
					GAINS		LOSSES			VALUE

	Type of security:
	U.S. Treasury securities	$	76,355	$	149	$	–		$	76,504
	Obligations of U.S. government agencies		17,074		2		(8	)		17,068
	Municipal debt securities		33,492		492		(1,008	)		32,976
	Corporate debt securities		157,798		102		(21	)		157,879
	Asset-backed securities		20,433		76		(20	)		20,489

	Total debt securities		305,152		821		(1,057	)		304,916
	Time deposits		1,606		–		–			1,606
	Short-term pooled investments		6,633		–		–			6,633

	Total marketable securities, available-for-sale	$	313,391	$	821	$	(1,057	)	$	313,155



		DECEMBER 31, 2012
	Type of security:
	U.S. Treasury securities	$	3,098	$	1	$	–		$	3,099
	Obligations of U.S. government agencies		133,029		112		(31	)		133,110
	Municipal debt securities		21,745		896		(458	)		22,183
	Corporate debt securities		163,352		116		(75	)		163,393
	Asset-backed securities		27,325		153		(164	)		27,314

	Total debt securities		348,549		1,278		(728	)		349,099
	Short-term pooled investments		36,533		–		(7	)		36,526

	Total marketable securities, available-for-sale	$	385,082	$	1,278	$	(735	)	$	385,625

Fair value of the available-for-sale marketable securities, by contractual maturity	'




		DECEMBER 31,
	(in thousands)		2013		2012

	Contractual maturity:
	Maturing in one year or less	$	129,384	$	66,546
	Maturing after one year through three years		154,169		257,595
	Maturing after three years		21,363		24,958

	Total debt securities		304,916		349,099
	Time deposits and short-term pooled investments		8,239		36,526

	Total marketable securities, available-for-sale	$	313,155	$	385,625

Fair_Values_of_Financial_and_N1

Fair Values of Financial and Nonfinancial Instruments (Tables)	12 Months Ended
	Dec. 31, 2013
Fair Values of Financial and Nonfinancial Instruments	'
Fair value measurement methods and values for financial instruments measured on a recurring basis	'




		FAIR VALUE AT DECEMBER 31,
	(in thousands)	HIERARCHY		2013		2012

	Marketable securities, available-for-sale:
	U.S. Treasury securities	Level 1	$	76,504	$	3,099
	Obligations of U.S. government agencies	Level 1		17,068		133,110
	Municipal debt securities	Level 2		32,976		22,183
	Corporate debt securities	Level 2		157,879		163,393
	Asset-backed securities	Level 2		20,489		27,314
	Time deposits	Level 2		1,606		–
	Short-term pooled investments	Level 1		6,633		36,526
	Mortgage loans held-for-sale	Level 2		139,576		107,950
	Mortgage interest rate lock commitments	Level 2		5,218		4,737
	Forward-delivery contracts	Level 2		2,261		(369	)

Debt_and_Credit_Facilities_Tab

Debt and Credit Facilities (Tables)	12 Months Ended
Debt and Credit Facilities (Tables)	Dec. 31, 2013
Debt and Credit Facilities	'
Schedule of long-term and short-term debt and credit facilities	'




	(in thousands)		2013			2012

	Senior notes
	5.4 percent senior notes due January 2015	$	126,481		$	126,481
	8.4 percent senior notes due May 2017		230,000			230,000
	6.6 percent senior notes due May 2020		300,000			300,000
	5.4 percent senior notes due October 2022		250,000			250,000
	Convertible senior notes
	1.6 percent convertible senior notes due May 2018		225,000			225,000
	0.25 percent convertible senior notes due June 2019		267,500			–

	Total senior notes and convertible senior notes		1,398,981			1,131,481
	Debt discount		(2,362	)		(3,000	)

	Senior notes and convertible senior notes, net		1,396,619			1,128,481
	Secured notes payable		689			5,987

	Total debt	$	1,397,308		$	1,134,468
	Financial services credit facility	$	73,084		$	–

Schedule of maturities of debt	'




	(in thousands)

	2014	$	73,760
	2015		126,494
	2016		–
	2017		230,000
	2018		225,000
	After 2018		817,500

	Total	$	1,472,754

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2013
Income Taxes	'
Reconciliation of the federal income tax statutory rate to the Company's effective income tax rate	'




			2013			2012			2011

	Federal income tax statutory rate		35	%		35	%		35	%
	State income taxes, net of federal tax		3.2			3.5			3.2
	Deferred tax valuation allowance		(132.2	)		(39.3	)		(37.8	)
	Compensation expense		0.1			2.7			(1.6	)
	Settlement of uncertain tax positions		–			–			4.6
	Other		0.2			1.9			1.9

	Effective income tax rate		(93.7	)%		3.8	%		5.3	%

Summary of the Company's income tax (benefit) expense	'




	(in thousands)		2013			2012			2011

	CURRENT TAX EXPENSE (BENEFIT)
	Federal	$	(75	)	$	568		$	(227	)
	State		471			1,017			(2,638	)

	Total current tax expense (benefit)		396			1,585			(2,865	)
	DEFERRED TAX BENEFIT
	Federal		(139,207	)		–			–
	State		(44,597	)		–			–

	Total deferred tax benefit		(183,804	)		–			–

	Total income tax (benefit) expense	$	(183,408	)	$	1,585		$	(2,865	)

Significant components of the Company's deferred tax assets and liabilities	'




		DECEMBER 31,
	(in thousands)		2013			2012

	DEFERRED TAX ASSETS
	Warranty, legal and other accruals	$	19,900		$	17,482
	Employee benefits		19,054			19,285
	Noncash tax charge for impairment of long-lived assets		59,608			88,042
	Joint ventures		4,038			4,188
	Federal NOL carryforwards		72,248			120,068
	Other carryforwards		994			1,057
	State NOL carryforwards		37,971			37,893
	Other		1,131			912

	Total		214,944			288,927
	Valuation allowance		–			(258,867	)

	Total deferred tax assets		214,944			30,060

	DEFERRED TAX LIABILITIES
	Deferred recognition of income and gains		(1,196	)		(2,277	)
	Capitalized expenses		(24,553	)		(25,748	)
	Other		(3,291	)		(2,035	)

	Total deferred tax liabilities		(29,040	)		(30,060	)

	NET DEFERRED TAX ASSET	$	185,904		$	–

Summary of accounting for tax uncertainties	'




	(in thousands)		2013			2012

	Balance at January 1	$	318		$	129
	Additions related to prior year positions		235			218
	Reductions due to expiration of the statute of limitations		–			(29	)

	Balance at December 31	$	553		$	318

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	12 Months Ended
Stock-Based Compensation (Tables)	Dec. 31, 2013
Stock-Based Compensation	'
Summary of stock option activity	'




			SHARES						WEIGHTED-
						WEIGHTED-			AVERAGE			AGGREGATE
						AVERAGE			REMAINING			INTRINSIC
						EXERCISE			CONTRACTUAL			VALUE
						PRICE			LIFE (in years)			(in
												thousands)

	Options outstanding at January 1, 2011		3,722,656		$	33.29			2.8
	Granted		781,000			16.52
	Exercised		(44,398	)		11.97
	Forfeited		(510,384	)		43.36

	Options outstanding at December 31, 2011		3,948,874		$	28.91			2.4		$	553
	Available for future grant		3,346,508

	Total shares reserved at December 31, 2011		7,295,382

	Options exercisable at December 31, 2011		2,574,246		$	34.35			1.7		$	369

	Options outstanding at January 1, 2012		3,948,874		$	28.91			2.4
	Granted		756,000			18.55
	Exercised		(568,293	)		18.89
	Forfeited		(717,158	)		35.38

	Options outstanding at December 31, 2012		3,419,423		$	26.92			2.9		$	42,992
	Available for future grant		3,016,108

	Total shares reserved at December 31, 2012		6,435,531

	Options exercisable at December 31, 2012		1,967,786		$	33.1			1.6		$	16,939

	Options outstanding at January 1, 2013		3,419,423		$	26.92			2.9
	Granted		–			–
	Exercised		(863,933	)		24.55
	Forfeited		(229,289	)		34.88

	Options outstanding at December 31, 2013		2,326,201		$	27.02			2.3		$	44,123
	Available for future grant		3,303,855

	Total shares reserved at December 31, 2013		5,630,056

	Options exercisable at December 31, 2013		1,650,893		$	30.74			1.6		$	26,908

Summary of stock options outstanding and exercisable	'




		OPTIONS OUTSTANDING									OPTIONS EXERCISABLE
						WEIGHTED-			WEIGHTED-			NUMBER		WEIGHTED-
	RANGE OF					AVERAGE			AVERAGE			EXERCISABLE		AVERAGE
	EXERCISE		NUMBER			REMAINING			EXERCISE					EXERCISE
	PRICES		OUTSTANDING			LIFE (in years)			PRICE					PRICE

	$14.13 to $18.05		678,133			1.8		$	16.02			454,803	$	15.75
	$18.22 to $23.27		1,053,994			3.5			20.36			615,349		21.89
	$30.60 to $72.13		594,074			1			51.39			580,741		51.87

Summary of weighted-average inputs used and grant date fair values determined for stock options granted	'




			2013			2012			2011

	Expected volatility		–	%		49.3	%		51	%
	Expected dividend yield		–	%		0.7	%		0.7	%
	Expected term (in years)		–			4.5			3.5
	Risk-free rate		–	%		0.8	%		1.4	%
	Weighted-average grant-date fair value	$	–		$	7.21		$	6.02

Summary of the Company's nonvested options	'




		2013						2012					2011
			SHARES			WEIGHTED-			SHARES			WEIGHTED-		SHARES			WEIGHTED-
						AVERAGE						AVERAGE					AVERAGE
						GRANT-DATE						GRANT-DATE					GRANT-DATE
						FAIR VALUE						FAIR VALUE					FAIR VALUE

	Nonvested options outstanding at January 1		1,451,637		$	7.08			1,374,628		$	7		1,142,130		$	8.31
	Granted		–			–			756,000			7.21		781,000			6.02
	Vested		(697,667	)		7.35			(611,659	)		7.03		(498,507	)		8.37
	Forfeited		(78,662	)		6.78			(67,332	)		7.47		(49,995	)		7.89

	Nonvested options outstanding at December 31		675,308		$	6.84			1,451,637		$	7.08		1,374,628		$	7

Summary of activity that relates to the Company's restricted stock unit awards	'




			2013			2012			2011

	Restricted stock units at January 1		774,217			657,825			727,317
	Shares awarded		143,594			473,408			305,000
	Shares vested		(354,369	)		(350,349	)		(314,492	)
	Shares forfeited		(24,336	)		(6,667	)		(60,000	)

	Restricted stock units at December 31		539,106			774,217			657,825

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	12 Months Ended
Commitments and Contingencies (Tables)	Dec. 31, 2013
Commitments and Contingencies	'
Summary of rent expense, which primarily relates to facilities, model homes, furniture and equipment	'




		YEAR ENDED DECEMBER 31,
	(in thousands)		2013			2012			2011

	Total rent expense¹	$	6,553		$	5,933		$	7,087
	Less: income from subleases		(323	)		(385	)		(456	)

	Net rent expense	$	6,230		$	5,548		$	6,631


	1
	Excludes rent expense associated with the Company's discontinued operations, which totaled $556,000 and $365,000 for the years ended December 31, 2012 and 2011, respectively.

Schedule of future minimum rental commitments under noncancellable leases with remaining terms in excess of one year	'




	(in thousands)

	2014	$	5,301
	2015		4,855
	2016		3,477
	2017		2,460
	2018		1,508
	Thereafter		1,780
	Less: income from subleases		(242	)

	Total lease commitments	$	19,139

Summary of composition of mortgage loans originated, by loan type; credit score; and loan-to-value ratio	'




		YEAR ENDED DECEMBER 31,
			2013			2012			2011		2010		2009		2008

	Prime		57.2	%		48.6	%		42.2	%	34.9	%	32.9	%	51.8	%
	Government (FHA/VA/USDA)		42.8			51.4			57.8		65.1		67.1		48.2

	Total		100	%		100	%		100	%	100	%	100	%	100	%
	Average FICO credit score		733			731			726		723		717		711
	Average combined loan-to-value ratio		89.8	%		90.1	%		90.3	%	90.8	%	91.4	%	90.1	%

Changes in mortgage loan loss reserves and related legal reserves	'




	(in thousands)		2013			2012			2011

	Balance at January 1	$	10,484		$	10,141		$	8,934
	Provision for losses		1,580			1,156			1,368
	Settlements made		(592	)		(813	)		(161	)

	Balance at December 31	$	11,472		$	10,484		$	10,141

Changes in product liability reserves	'




	(in thousands)		2013			2012			2011

	Balance at January 1	$	18,188		$	20,648		$	20,112
	Warranties issued		9,052			3,899			3,549
	Changes in liability for accruals related to pre-existing warranties		1,891			1,866			2,823
	Settlements made		(5,992	)		(8,225	)		(5,836	)

	Balance at December 31	$	23,139		$	18,188		$	20,648

Changes in RHIC's insurance reserves	'




	(in thousands)		2013			2012			2011

	Balance at January 1	$	14,813		$	18,209		$	21,141
	Insurance expense provisions or adjustments		1,445			(1,369	)		(900	)
	Loss expenses paid		(2,401	)		(2,027	)		(2,032	)

	Balance at December 31	$	13,857		$	14,813		$	18,209

Supplemental_Guarantor_Informa1

Supplemental Guarantor Information (Tables)	12 Months Ended
Supplemental Guarantor Information (Tables)	Dec. 31, 2013
Supplemental Guarantor Information	'
CONSOLIDATING STATEMENTS OF EARNINGS	'




			YEAR ENDED DECEMBER 31, 2013
				TRG, INC.						NON-
							GUARANTOR			GUARANTOR SUBSIDIARIES			CONSOLIDATING			CONSOLIDATED
	(in thousands)						SUBSIDIARIES						ELIMINATIONS			TOTAL

	REVENUES		$	1,207,509		$	921,252		$	51,380		$	(39,386	)	$	2,140,755
	EXPENSES			1,097,280			857,707			31,312			(39,386	)		1,946,913
	OTHER INCOME			1,849			–			–			–			1,849

	Income from continuing			112,078			63,545			20,068			–			195,691
	operations before taxes			112,078			63,545			20,068			–			195,691
	Tax benefit			(105,043	)		(59,557	)		(18,808	)		–			(183,408	)
	Equity in net earnings of subsidiaries			161,978			–			–			(161,978	)		–

	Net income from continuing			379,099			123,102			38,876			(161,978	)		379,099
	operations			379,099			123,102			38,876			(161,978	)		379,099
	Income from discontinued operations, net of taxes			106			1			–			(1	)		106

	NET INCOME		$	379,205		$	123,103		$	38,876		$	(161,979	)	$	379,205






				YEAR ENDED DECEMBER 31, 2012

	REVENUES		$	711,947		$	562,181		$	37,619		$	(3,281	)	$	1,308,466
	EXPENSES			688,026			548,345			24,477			(3,281	)		1,257,567
	OTHER LOSS			(6,932	)		–			–			–			(6,932	)

	Income from continuing			16,989			13,836			13,142			–			43,967
	operations before taxes			16,989			13,836			13,142			–			43,967
	Tax expense			612			499			474			–			1,585
	Equity in net earnings of subsidiaries			26,005			–			–			(26,005	)		–

	Net income from continuing			42,382			13,337			12,668			(26,005	)		42,382
	operations			42,382			13,337			12,668			(26,005	)		42,382
	Loss from discontinued operations,			(2,000	)		(1,018	)		–			1,018			(2,000	)
	net of taxes			(2,000	)		(1,018	)		–			1,018			(2,000	)

	NET INCOME		$	40,382		$	12,319		$	12,668		$	(24,987	)	$	40,382






				YEAR ENDED DECEMBER 31, 2011

	REVENUES		$	458,500		$	404,104		$	26,927		$	–		$	889,531
	EXPENSES			491,505			411,844			21,188			–			924,537
	OTHER INCOME			2,274			–			–			–			2,274

	(Loss) income from continuing operations before taxes			(30,731	)		(7,740	)		5,739			–			(32,732	)
	Tax (benefit) expense			(2,690	)		(677	)		502			–			(2,865	)
	Equity in net loss of subsidiaries			(1,826	)		–			–			1,826			–

	Net (loss) income from continuing operations			(29,867	)		(7,063	)		5,237			1,826			(29,867	)
Loss from discontinued operations,			(20,883	)		(5,763	)		–			5,763			(20,883	)
net of taxes			(20,883	)		(5,763	)		–			5,763			(20,883	)

NET (LOSS) INCOME		$	(50,750	)	$	(12,826	)	$	5,237		$	7,589		$	(50,750	)

CONSOLIDATING STATEMENTS OF OTHER COMPREHENSIVE INCOME	'




			YEAR ENDED DECEMBER 31, 2013
				TRG, INC.						NON-			CONSOLIDATING			CONSOLIDATED
							GUARANTOR			GUARANTOR			ELIMINATIONS			TOTAL
	(in thousands)						SUBSIDIARIES			SUBSIDIARIES

	Net income		$	379,205		$	123,103		$	38,876		$	(161,979	)	$	379,205
	Other comprehensive loss before tax:
	Actuarial loss on defined benefit pension plan			(1,411	)		(134	)		(129	)		–			(1,674	)
	Unrealized loss on marketable
	securities, available-for-sale:
	Unrealized loss			(279	)		–			–			–			(279	)
	Less: reclassification adjustments for losses included in net income			64			–			–			–			64

				(215	)		–			–			–			(215	)
	Other comprehensive loss before tax			(1,626	)		(134	)		(129	)		–			(1,889	)
	Income tax benefit related to items			540			51			49			–			640
	of other comprehensive loss			540			51			49			–			640
	Other comprehensive loss, net of tax			(1,086	)		(83	)		(80	)		–			(1,249	)

	Comprehensive income		$	378,119		$	123,020		$	38,796		$	(161,979	)	$	377,956






				YEAR ENDED DECEMBER 31, 2012

	Net income		$	40,382		$	12,319		$	12,668		$	(24,987	)	$	40,382
	Other comprehensive loss before tax:
	Reduction of unrealized gain related to cash flow hedging instruments			(1,709	)		–			–			–			(1,709	)
	Unrealized gain on marketable securities, available-for-sale:
	Unrealized gain			1,217			–			–			–			1,217
	Less: reclassification adjustments for gains included in net income			(233	)		–			–			–			(233	)

				984			–			–			–			984
	Other comprehensive loss before tax			(725	)		–			–			–			(725	)
	Income tax benefit related to items			653												653
	of other comprehensive loss			653												653
	Other comprehensive loss, net of tax			(72	)		–			–			–			(72	)

	Comprehensive income		$	40,310		$	12,319		$	12,668		$	(24,987	)	$	40,310






				YEAR ENDED DECEMBER 31, 2011

	Net (loss) income		$	(50,750	)	$	(12,826	)	$	5,237		$	7,589		$	(50,750	)
	Other comprehensive loss before tax:
	Reduction of unrealized gain related to cash flow hedging instruments			(1,207	)		–			–			–			(1,207	)
	Unrealized loss on marketable securities, available-for-sale:
	Unrealized gain			360			–			–			–			360
	Less: reclassification adjustments for gains included in net (loss) income			(1,358	)		–			–			–			(1,358	)

				(998	)		–			–			–			(998	)
	Other comprehensive loss before tax			(2,205	)		–			–			–			(2,205	)
Income tax benefit related to items			502			–			–			–			502
of other comprehensive loss			502			–			–			–			502
Other comprehensive loss, net of tax			(1,703	)		–			–			–			(1,703	)

Comprehensive (loss) income		$	(52,453	)	$	(12,826	)	$	5,237		$	7,589		$	(52,453	)

CONSOLIDATING BALANCE SHEETS	'




			DECEMBER 31, 2013
				TRG, INC.			GUARANTOR SUBSIDIARIES			NON-			CONSOLIDATING ELIMINATIONS			CONSOLIDATED TOTAL
										GUARANTOR SUBSIDIARIES
	(in thousands)

	ASSETS
	Cash and cash equivalents		$	25,521		$	193,356		$	9,109		$	–		$	227,986
	Marketable securities and restricted cash			377,267			–			25,922			–			403,189
	Consolidated inventory owned			955,943			660,664			–			–			1,616,607
	Consolidated inventory not owned			17,297			–			15,879			–			33,176

	Total housing inventories			973,240			660,664			15,879			–			1,649,783
	Investment in subsidiaries			369,580			–			–			(369,580	)		–
	Intercompany receivables			517,057			–			–			(517,057	)		–
	Other assets			290,153			54,052			155,149			–			499,354
	Assets of discontinued operations			–			30			–			–			30

	TOTAL ASSETS			2,552,818			908,102			206,059			(886,637	)		2,780,342

	LIABILITIES
	Accounts payable and other accrued liabilities			247,328			106,420			31,773			–			385,521
	Financial services credit facility			–			–			73,084			–			73,084
	Debt			1,397,308			–			–			–			1,397,308
	Intercompany payables			–			465,252			51,805			(517,057	)		–
	Liabilities of discontinued operations			136			368			–			–			504

	TOTAL LIABILITIES			1,644,772			572,040			156,662			(517,057	)		1,856,417

	EQUITY
	STOCKHOLDERS' EQUITY			908,046			336,062			33,518			(369,580	)		908,046
	NONCONTROLLING INTEREST			–			–			15,879			–			15,879

	TOTAL LIABILITIES AND EQUITY		$	2,552,818		$	908,102		$	206,059		$	(886,637	)	$	2,780,342






				31-Dec-12

	ASSETS
	Cash and cash equivalents		$	32,130		$	117,838		$	8,119		$	–		$	158,087
	Marketable securities and restricted cash			429,057			–			27,461			–			456,518
	Consolidated inventory owned			643,619			394,309			–			–			1,037,928
	Consolidated inventory not owned			17,666			–			21,824			–			39,490

	Total housing inventories			661,285			394,309			21,824			–			1,077,418
	Investment in subsidiaries			244,917			–			–			(244,917	)		–
	Intercompany receivables			368,126			–			–			(368,126	)		–
	Other assets			76,183			43,572			119,661			–			239,416
	Assets of discontinued operations			187			2,293			–			–			2,480

	TOTAL ASSETS			1,811,885			558,012			177,065			(613,043	)		1,933,919

	LIABILITIES
	Accounts payable and other accrued liabilities			172,906			68,929			30,320			–			272,155
	Debt			1,134,468			–			–			–			1,134,468
	Intercompany payables			–			275,163			92,963			(368,126	)		–
Liabilities of discontinued operations			575			961			–			–			1,536

TOTAL LIABILITIES			1,307,949			345,053			123,283			(368,126	)		1,408,159

EQUITY
STOCKHOLDERS' EQUITY			503,936			212,959			31,958			(244,917	)		503,936
NONCONTROLLING INTEREST			–			–			21,824			–			21,824

TOTAL LIABILITIES AND EQUITY		$	1,811,885		$	558,012		$	177,065		$	(613,043	)	$	1,933,919

CONSOLIDATING STATEMENTS OF CASH FLOWS	'




			YEAR ENDED DECEMBER 31, 2013
				TRG, INC.			GUARANTOR			NON-			CONSOLIDATING			CONSOLIDATED
							SUBSIDIARIES			GUARANTOR			ELIMINATIONS			TOTAL
	(in thousands)									SUBSIDIARIES

	CASH FLOWS FROM OPERATING ACTIVITIES
	Net income from continuing operations		$	379,099		$	123,102		$	38,876		$	(161,978	)	$	379,099
	Adjustments to reconcile net income from continuing operations to net cash used for operating activities			(225,954	)		8,225			281			–			(217,448	)
	Changes in assets and liabilities			(317,140	)		(202,163	)		(71,030	)		161,978			(428,355	)
	Other operating activities, net			(1,264	)		–			–			–			(1,264	)

	Net cash used for operating activities from continuing operations			(165,259	)		(70,836	)		(31,873	)		–			(267,968	)

	CASH FLOWS FROM INVESTING ACTIVITIES
	Contributions to unconsolidated joint ventures, net			(302	)		(2,925	)		–			–			(3,227	)
	Additions to property, plant and equipment			(9,546	)		(9,760	)		(602	)		–			(19,908	)
	Purchases of marketable securities, available-for-sale			(752,043	)		–			(4,174	)		–			(756,217	)
	Proceeds from sales and maturities of marketable securities, available-for-sale			823,759			–			5,573			–			829,332
	Cash paid for business acquisitions			(19,880	)		(31,050	)		–			–			(50,930	)

	Net cash provided by (used for) investing activities from continuing operations			41,988			(43,735	)		797			–			(950	)

	CASH FLOWS FROM FINANCING ACTIVITIES
	Increase in debt			262,202			–			–			–			262,202
	Increase in borrowings against revolving credit facilities, net			–			–			73,084			–			73,084
	Common stock dividends and stock-based compensation			22,672			–			–			–			22,672
	Increase (decrease) in restricted cash			(19,281	)		–			140			–			(19,141	)
	Intercompany balances			(148,931	)		190,089			(41,158	)		–			–

	Net cash provided by financing activities from continuing operations			116,662			190,089			32,066			–			338,817

	Net (decrease) increase in cash and cash equivalents from continuing operations			(6,609	)		75,518			990			–			69,899
	Cash flows from operating activities—discontinued operations			–			(25	)		–			–			(25	)
	Cash flows from investing activities—discontinued operations			–			25			–			–			25
	Cash flows from financing activities—discontinued operations			–			–			–			–			–
	Cash and cash equivalents at beginning of year			32,130			117,865			8,119			–			158,114

	CASH AND CASH EQUIVALENTS AT END OF YEAR		$	25,521		$	193,383		$	9,109		$	–		$	228,013





			YEAR ENDED DECEMBER 31, 2012
				TRG, INC.			GUARANTOR			NON-			CONSOLIDATING			CONSOLIDATED
							SUBSIDIARIES			GUARANTOR			ELIMINATIONS			TOTAL
	(in thousands)									SUBSIDIARIES

	CASH FLOWS FROM OPERATING ACTIVITIES
	Net income from continuing operations		$	42,382		$	13,337		$	12,668		$	(26,005	)	$	42,382
	Adjustments to reconcile net income from continuing operations to net cash used for operating activities			28,164			7,873			500			–			36,537
	Changes in assets and liabilities			(128,700	)		(56,003	)		(40,608	)		26,005			(199,306	)
	Other operating activities, net			(792	)		–			–			–			(792	)

	Net cash used for operating activities from continuing operations			(58,946	)		(34,793	)		(27,440	)		–			(121,179	)

	CASH FLOWS FROM INVESTING ACTIVITIES
	Return of investment in unconsolidated joint ventures, net			708			1,602			–			–			2,310
	Additions to property, plant and equipment			(7,596	)		(4,560	)		(68	)		–			(12,224	)
Purchases of marketable securities, available-for-sale			(1,170,627	)		–			(5,481	)		–			(1,176,108	)
Proceeds from sales and maturities of marketable securities, available-for-sale			1,134,675			–			6,293			–			1,140,968
Cash paid for business acquisitions			(80,182	)		–			–			–			(80,182	)
Other investing activities, net			–			–			109			–			109

Net cash (used for) provided by investing activities from continuing operations			(123,022	)		(2,958	)		853			–			(125,127	)

CASH FLOWS FROM FINANCING ACTIVITIES
Increase (decrease) in debt			301,145			(1,188	)		(22	)		–			299,935
Decrease in borrowings against revolving credit facilities, net			–			–			(49,933	)		–			(49,933	)
Common stock dividends and stock-based compensation			8,955			–			–			–			8,955
(Increase) decrease in restricted cash			(18,658	)		–			4,814			–			(13,844	)
Intercompany balances			(102,914	)		39,705			63,209			–			–

Net cash provided by financing activities from continuing operations			188,528			38,517			18,068			–			245,113

Net increase (decrease) in cash and cash equivalents from continuing operations			6,560			766			(8,519	)		–			(1,193	)
Cash flows from operating activities—discontinued operations			(31	)		(73	)		–			–			(104	)
Cash flows from investing activities—discontinued operations			4			71			–			–			75
Cash flows from financing activities—discontinued operations			–			–			–			–			–
Cash and cash equivalents at beginning of year			25,597			117,101			16,638			–			159,336

CASH AND CASH EQUIVALENTS AT END OF YEAR		$	32,130		$	117,865		$	8,119		$	–		$	158,114





		YEAR ENDED DECEMBER 31, 2011
			TRG, INC.			GUARANTOR			NON-			CONSOLIDATING			CONSOLIDATED
						SUBSIDIARIES			GUARANTOR			ELIMINATIONS			TOTAL
(in thousands)									SUBSIDIARIES

CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income from continuing operations		$	(29,867	)	$	(7,063	)	$	5,237		$	1,826		$	(29,867	)
Adjustments to reconcile net (loss) income from continuing operations to net cash used for operating activities			51,325			6,564			588			–			58,477
Changes in assets and liabilities			(58,187	)		(40,741	)		(84,536	)		(1,826	)		(185,290	)
Other operating activities, net			(988	)		–			–			–			(988	)

Net cash used for operating activities from continuing operations			(37,717	)		(41,240	)		(78,711	)		–			(157,668	)

CASH FLOWS FROM INVESTING ACTIVITIES
(Contributions to) return of investment in unconsolidated joint ventures, net			(912	)		2,867			–			–			1,955
Additions to property, plant and equipment			(7,368	)		(3,443	)		(153	)		–			(10,964	)
Purchases of marketable securities, available-for-sale			(1,307,894	)		–			(5,387	)		–			(1,313,281	)
Proceeds from sales and maturities of marketable securities, available-for-sale			1,397,566			–			6,564			–			1,404,130
Other investing activities, net			–			–			118			–			118

Net cash provided by (used for) investing activities from continuing operations			81,392			(576	)		1,142			–			81,958

CASH FLOWS FROM FINANCING ACTIVITIES
Decrease in debt			(55,243	)		(2,784	)		–			–			(58,027	)
Increase in borrowings against revolving credit facilities, net			–			–			49,933			–			49,933
Common stock dividends and stock-based compensation			(1,783	)		–			–			–			(1,783	)
Decrease (increase) in restricted cash			18,315			–			(326	)		–			17,989
Intercompany balances			(6,625	)		(15,480	)		22,105			–			–

Net cash (used for) provided by financing activities from continuing operations			(45,336	)		(18,264	)		71,712			–			8,112

Net decrease in cash and cash equivalents from continuing operations			(1,661	)		(60,080	)		(5,857	)		–			(67,598	)
Cash flows from operating activities—discontinued operations			353			116			–			–			469
Cash flows from investing activities—discontinued operations			(237	)		(126	)		–			–			(363	)
Cash flows from financing activities—discontinued operations			(89	)		–			–			–			(89	)
Cash and cash equivalents at beginning of year			27,231			177,191			22,495			–			226,917

CASH AND CASH EQUIVALENTS AT END OF YEAR		$	25,597		$	117,101		$	16,638		$	–		$	159,336

Discontinued_Operations_Tables

Discontinued Operations (Tables)	12 Months Ended
Discontinued Operations (Tables)	Dec. 31, 2013
Discontinued Operations	'
Schedule of assets and liabilities related to discontinued operations	'




		DECEMBER 31,
	(in thousands)		2013		2012

	Assets
	Cash and cash equivalents	$	27	$	27
	Housing inventories		–		2,239
	Other assets		3		214

	Total assets of discontinued operations		30		2,480
	Liabilities
	Accounts payable and accrued liabilities		504		1,536

	Total liabilities of discontinued operations	$	504	$	1,536

Quarterly_Financial_Data_Unaud1

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
Quarterly Financial Data (Unaudited) (Tables)	Dec. 31, 2013
Quarterly Financial Data (Unaudited)	'
Schedule of quarterly financial data (unaudited)	'




		2013										2012
	(in thousands, except per share data)		DEC. 31			SEPT. 30		JUN. 30			MAR. 31		DEC. 31			SEPT. 30		JUN. 30		MAR. 31

	CONSOLIDATED RESULTS
	Revenues	$	696,657		$	576,423	$	492,995		$	374,680	$	440,135		$	358,693	$	293,769	$	215,869
	Income (loss) from continuing operations before taxes		75,223			53,986		44,279			22,203		30,319			10,430		6,239		(3,021	)
	Tax expense (benefit)		2,917			428		(186,952	)		199		1,372			23		190		–

	Net income (loss) from continuing operations		72,306			53,558		231,231			22,004		28,947			10,407		6,049		(3,021	)
	(Loss) income from discontinued operations, net of taxes		(61	)		91		(37	)		113		(374	)		238		223		(2,087	)

	Net income (loss)	$	72,245		$	53,649	$	231,194		$	22,117	$	28,573		$	10,645	$	6,272	$	(5,108	)

	Net income (loss) per common share:
	Basic
	Continuing operations	$	1.56		$	1.16	$	5.01		$	0.48	$	0.64		$	0.23	$	0.14	$	(0.07	)
	Discontinued operations		0			0		0			0		(0.01	)		0.01		0		(0.04	)

	Total		1.56			1.16		5.01			0.48		0.63			0.24		0.14		(0.11	)
	Diluted
	Continuing operations		1.27			0.95		4.16			0.43		0.56			0.21		0.14		(0.07	)
	Discontinued operations		0			0		0			0		(0.01	)		0.01		0		(0.04	)

	Total	$	1.27		$	0.95	$	4.16		$	0.43	$	0.55		$	0.22	$	0.14	$	(0.11	)
	Weighted-average common shares outstanding:
	Basic		46,216			46,175		46,036			45,435		45,115			44,826		44,628		44,474
	Diluted		57,807			57,679		55,690			53,362		53,053			52,466		48,395		44,474

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Summary of Significant Accounting Policies	'	'
Ownership interest in subsidiaries (as a percent)	100.00%	'
Cash and cash equivalents	$227,986,000	$158,087,000
Restricted cash deposits kept as collateral for outstanding letters of credit	89,500,000	70,300,000
Restricted cash	'	'
Restricted cash	90,034,000	70,893,000
RMC	'	'
Restricted cash	'	'
Restricted cash	$487,000	$627,000

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Housing Inventories	'	'	'
Discount rate, low end of the range (as a percent)	17.00%	'	'
Discount rate, high end of the range (as a percent)	30.00%	'	'
Valuation reserves related to impaired inventories	$154,800,000	$207,800,000	'
Carrying value of impaired inventories	155,900,000	182,200,000	'
Summary of activity related to capitalized interest	'	'	'
Capitalized interest, balance at the beginning of the period	82,773,000	81,058,000	75,094,000
Interest capitalized	59,208,000	42,327,000	38,032,000
Interest amortized to cost of sales	-52,362,000	-40,612,000	-32,068,000
Capitalized interest, balance at the end of the period	$89,619,000	$82,773,000	$81,058,000
Total continuing operations \| Segment total	'	'	'
Real Estate JVs	'	'	'
LOTS OWNED	23,540	17,781	'
LOTS OPTIONED	14,602	10,524	'
TOTAL	38,142	28,305	'
Total continuing operations \| North	'	'	'
Real Estate JVs	'	'	'
LOTS OWNED	6,382	5,471	'
LOTS OPTIONED	7,455	4,056	'
TOTAL	13,837	9,527	'
Total continuing operations \| Southeast	'	'	'
Real Estate JVs	'	'	'
LOTS OWNED	8,114	7,268	'
LOTS OPTIONED	2,439	2,121	'
TOTAL	10,553	9,389	'
Total continuing operations \| Texas	'	'	'
Real Estate JVs	'	'	'
LOTS OWNED	3,886	2,438	'
LOTS OPTIONED	3,147	2,667	'
TOTAL	7,033	5,105	'
Total continuing operations \| West	'	'	'
Real Estate JVs	'	'	'
LOTS OWNED	5,158	2,604	'
LOTS OPTIONED	1,561	1,680	'
TOTAL	6,719	4,284	'
Discontinued operations	'	'	'
Real Estate JVs	'	'	'
LOTS OWNED	5	479	'
LOTS OPTIONED	0	0	'
TOTAL	5	479	'

Summary_of_Significant_Account5

Summary of Significant Accounting Policies (Details 3) (Affiliates of the Company's Philadelphia division, Promissory notes, USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013
Transactions with Affiliates	'
Amount of notes receivable	1.5
Outstanding balance	1.3
Maximum	'
Transactions with Affiliates	'
Notes receivable term	'3 years

Summary_of_Significant_Account6

Summary of Significant Accounting Policies (Details 4) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Goodwill and Other Intangible Assets	'	'	'
Goodwill	$37.10	$16.80	'
Impairment of goodwill	0	0	0
North	'	'	'
Goodwill and Other Intangible Assets	'	'	'
Goodwill	13.7	'	'
Southeast	'	'	'
Goodwill and Other Intangible Assets	'	'	'
Goodwill	8.1	8.1	'
Texas	'	'	'
Goodwill and Other Intangible Assets	'	'	'
Goodwill	6.6	'	'
West	'	'	'
Goodwill and Other Intangible Assets	'	'	'
Goodwill	$8.70	$8.70	'

Summary_of_Significant_Account7

Summary of Significant Accounting Policies (Details 5) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Lot Option Purchase Disclosures	'	'	'
Consolidated inventory not owned	$33,176,000	$39,490,000	'
Noncontrolling interest	15,879,000	21,824,000	34,223,000
Primary variable interest \| Lot option purchase contracts	'	'	'
Lot Option Purchase Disclosures	'	'	'
Consolidated inventory not owned	33,200,000	39,500,000	'
Cash deposits	17,300,000	17,700,000	'
Noncontrolling interest	15,900,000	21,800,000	'
Not primary variable interest \| Lot option purchase contracts	'	'	'
Lot Option Purchase Disclosures	'	'	'
Cash deposits and/or letters of credit	36,600,000	22,200,000	'
Aggregate purchase price	$482,800,000	$310,100,000	'

Summary_of_Significant_Account8

Summary of Significant Accounting Policies (Details 6) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
	jointventure	Dec. 31, 2012	Dec. 31, 2011
Summary of Significant Accounting Policies	'	'	'
Number of active homebuilding joint ventures	6	'	'
Unconsolidated Joint Ventures	'	'	'
Investments in unconsolidated joint ventures	$12,600,000	$8,300,000	'
Equity in earnings (losses) from unconsolidated joint ventures	1,200,000	1,200,000	-976,000
Joint ventures	'	'	'
Lots	'	'	'
Impairment in a joint venture	'	'	$1,900,000
Joint ventures \| Segment total	'	'	'
Lots	'	'	'
JV lots owned	628	317	'
North \| Joint ventures	'	'	'
Lots	'	'	'
JV lots owned	150	145	'
Texas \| Joint ventures	'	'	'
Lots	'	'	'
JV lots owned	252	0	'
West \| Joint ventures	'	'	'
Lots	'	'	'
JV lots owned	226	172	'

Summary_of_Significant_Account9

Summary of Significant Accounting Policies (Details 7) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Property, Plant and Equipment	'	'	'
Property, plant and equipment	$25,437,000	$20,409,000	'
Model home furnishings	24,100,000	19,400,000	'
Advertising Costs	'	'	'
Advertising costs	5,300,000	4,600,000	5,200,000
Comprehensive Income	'	'	'
Comprehensive income (loss)	377,956,000	40,310,000	-52,453,000
Accumulated Other Comprehensive (Loss) Income	'	'	'
Realized gains or losses on sale of securities	-1,849,000	-2,214,000	-3,882,000
Reclassification adjustment	'	'	'
Accumulated Other Comprehensive (Loss) Income	'	'	'
Realized gains or losses on sale of securities	$64,000	'	'

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
	State								Segment
									State
Segment Information	'	'	'	'	'	'	'	'	'	'	'
Number of states in which the entity operates	17	'	'	'	'	'	'	'	17	'	'
Number of reportable segments	'	'	'	'	'	'	'	'	6	'	'
Number of geographic segments	'	'	'	'	'	'	'	'	4	'	'
REVENUES	'	'	'	'	'	'	'	'	'	'	'
Total	$696,657	$576,423	$492,995	$374,680	$440,135	$358,693	$293,769	$215,869	$2,140,755	$1,308,466	$889,531
EARNINGS (LOSS) BEFORE TAXES	'	'	'	'	'	'	'	'	'	'	'
Total	75,223	53,986	44,279	22,203	30,319	10,430	6,239	-3,021	195,691	43,967	-32,732
DEPRECIATION AND AMORTIZATION	'	'	'	'	'	'	'	'	'	'	'
Depreciation and amortization	'	'	'	'	'	'	'	'	20,517	15,399	11,312
Total assets	'	'	'	'	'	'	'	'	'	'	'
HOUSING INVENTORIES	1,649,783	'	'	'	1,077,418	'	'	'	1,649,783	1,077,418	'
OTHER ASSETS	1,130,529	'	'	'	854,021	'	'	'	1,130,529	854,021	'
TOTAL ASSETS	2,780,312	'	'	'	1,931,439	'	'	'	2,780,312	1,931,439	'
Assets associated with discontinued operations	30	'	'	'	2,480	'	'	'	30	2,480	'
Homebuilding \| North	'	'	'	'	'	'	'	'	'	'	'
REVENUES	'	'	'	'	'	'	'	'	'	'	'
Total	'	'	'	'	'	'	'	'	617,550	393,238	299,595
EARNINGS (LOSS) BEFORE TAXES	'	'	'	'	'	'	'	'	'	'	'
Total	'	'	'	'	'	'	'	'	52,440	11,602	-9,054
DEPRECIATION AND AMORTIZATION	'	'	'	'	'	'	'	'	'	'	'
Depreciation and amortization	'	'	'	'	'	'	'	'	5,819	4,710	3,527
Total assets	'	'	'	'	'	'	'	'	'	'	'
HOUSING INVENTORIES	464,777	'	'	'	378,523	'	'	'	464,777	378,523	'
OTHER ASSETS	48,314	'	'	'	29,818	'	'	'	48,314	29,818	'
TOTAL ASSETS	513,091	'	'	'	408,341	'	'	'	513,091	408,341	'
Homebuilding \| Southeast	'	'	'	'	'	'	'	'	'	'	'
REVENUES	'	'	'	'	'	'	'	'	'	'	'
Total	'	'	'	'	'	'	'	'	597,933	355,621	218,672
EARNINGS (LOSS) BEFORE TAXES	'	'	'	'	'	'	'	'	'	'	'
Total	'	'	'	'	'	'	'	'	65,510	18,566	-11,676
DEPRECIATION AND AMORTIZATION	'	'	'	'	'	'	'	'	'	'	'
Depreciation and amortization	'	'	'	'	'	'	'	'	5,629	4,308	3,145
Total assets	'	'	'	'	'	'	'	'	'	'	'
HOUSING INVENTORIES	397,237	'	'	'	292,288	'	'	'	397,237	292,288	'
OTHER ASSETS	24,143	'	'	'	22,755	'	'	'	24,143	22,755	'
TOTAL ASSETS	421,380	'	'	'	315,043	'	'	'	421,380	315,043	'
Homebuilding \| Texas	'	'	'	'	'	'	'	'	'	'	'
REVENUES	'	'	'	'	'	'	'	'	'	'	'
Total	'	'	'	'	'	'	'	'	448,828	323,162	262,321
EARNINGS (LOSS) BEFORE TAXES	'	'	'	'	'	'	'	'	'	'	'
Total	'	'	'	'	'	'	'	'	39,030	22,984	9,243
DEPRECIATION AND AMORTIZATION	'	'	'	'	'	'	'	'	'	'	'
Depreciation and amortization	'	'	'	'	'	'	'	'	3,960	2,834	2,610
Total assets	'	'	'	'	'	'	'	'	'	'	'
HOUSING INVENTORIES	290,018	'	'	'	174,153	'	'	'	290,018	174,153	'
OTHER ASSETS	37,310	'	'	'	22,244	'	'	'	37,310	22,244	'
TOTAL ASSETS	327,328	'	'	'	196,397	'	'	'	327,328	196,397	'
Homebuilding \| West	'	'	'	'	'	'	'	'	'	'	'
REVENUES	'	'	'	'	'	'	'	'	'	'	'
Total	'	'	'	'	'	'	'	'	425,064	198,826	82,016
EARNINGS (LOSS) BEFORE TAXES	'	'	'	'	'	'	'	'	'	'	'
Total	'	'	'	'	'	'	'	'	46,546	10,732	-5,326
DEPRECIATION AND AMORTIZATION	'	'	'	'	'	'	'	'	'	'	'
Depreciation and amortization	'	'	'	'	'	'	'	'	4,569	2,984	1,295
Total assets	'	'	'	'	'	'	'	'	'	'	'
HOUSING INVENTORIES	497,751	'	'	'	232,454	'	'	'	497,751	232,454	'
OTHER ASSETS	30,248	'	'	'	41,596	'	'	'	30,248	41,596	'
TOTAL ASSETS	527,999	'	'	'	274,050	'	'	'	527,999	274,050	'
Financial Services	'	'	'	'	'	'	'	'	'	'	'
REVENUES	'	'	'	'	'	'	'	'	'	'	'
Total	'	'	'	'	'	'	'	'	51,380	37,619	26,927
EARNINGS (LOSS) BEFORE TAXES	'	'	'	'	'	'	'	'	'	'	'
Total	'	'	'	'	'	'	'	'	20,068	13,142	5,739
DEPRECIATION AND AMORTIZATION	'	'	'	'	'	'	'	'	'	'	'
Depreciation and amortization	'	'	'	'	'	'	'	'	175	78	181
Total assets	'	'	'	'	'	'	'	'	'	'	'
HOUSING INVENTORIES	0	'	'	'	0	'	'	'	0	0	'
OTHER ASSETS	193,652	'	'	'	157,781	'	'	'	193,652	157,781	'
TOTAL ASSETS	193,652	'	'	'	157,781	'	'	'	193,652	157,781	'
Corporate and unallocated	'	'	'	'	'	'	'	'	'	'	'
EARNINGS (LOSS) BEFORE TAXES	'	'	'	'	'	'	'	'	'	'	'
Total	'	'	'	'	'	'	'	'	-27,903	-33,059	-21,658
DEPRECIATION AND AMORTIZATION	'	'	'	'	'	'	'	'	'	'	'
Depreciation and amortization	'	'	'	'	'	'	'	'	365	485	554
Total assets	'	'	'	'	'	'	'	'	'	'	'
HOUSING INVENTORIES	0	'	'	'	0	'	'	'	0	0	'
OTHER ASSETS	796,862	'	'	'	579,827	'	'	'	796,862	579,827	'
TOTAL ASSETS	$796,862	'	'	'	$579,827	'	'	'	$796,862	$579,827	'

Earnings_Per_Share_Reconciliat2

Earnings Per Share Reconciliation (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
NUMERATOR	'	'	'	'	'	'	'	'	'	'	'
Net income (loss) from continuing operations	$72,306	$53,558	$231,231	$22,004	$28,947	$10,407	$6,049	($3,021)	$379,099	$42,382	($29,867)
Net income (loss) from discontinued operations	-61	91	-37	113	-374	238	223	-2,087	106	-2,000	-20,883
Less: distributed earnings allocated to nonvested restricted stock	'	'	'	'	'	'	'	'	-13	-42	0
Less: undistributed earnings allocated to nonvested restricted stock	'	'	'	'	'	'	'	'	-1,135	-313	0
Numerator for basic income (loss) per share	'	'	'	'	'	'	'	'	378,057	40,027	-50,750
Plus: undistributed earnings allocated to nonvested restricted stock	'	'	'	'	'	'	'	'	1,135	313	0
Less: undistributed earnings reallocated to nonvested restricted stock	'	'	'	'	'	'	'	'	-931	-284	0
Numerator for diluted income (loss) per share	'	'	'	'	'	'	'	'	381,887	41,885	-50,750
DENOMINATOR	'	'	'	'	'	'	'	'	'	'	'
Basic earnings per share-weighted-average shares	46,216,000	46,175,000	46,036,000	45,435,000	45,115,000	44,826,000	44,628,000	44,474,000	45,966,307	44,761,178	44,357,470
Effect of dilutive securities:	'	'	'	'	'	'	'	'	'	'	'
Share-based payments (in shares)	'	'	'	'	'	'	'	'	1,031,656	487,443	0
Diluted earnings per share-adjusted weighted-average shares and assumed conversions	57,807,000	57,679,000	55,690,000	53,362,000	53,053,000	52,466,000	48,395,000	44,474,000	56,219,939	49,655,321	44,357,470
Basic	'	'	'	'	'	'	'	'	'	'	'
Continuing operations (in dollars per share)	$1.56	$1.16	$5.01	$0.48	$0.64	$0.23	$0.14	($0.07)	$8.22	$0.93	($0.67)
Discontinued operations (in dollars per share)	$0	$0	$0	$0	($0.01)	$0.01	$0	($0.04)	$0	($0.04)	($0.47)
Total (in dollars per share)	$1.56	$1.16	$5.01	$0.48	$0.63	$0.24	$0.14	($0.11)	$8.22	$0.89	($1.14)
Diluted	'	'	'	'	'	'	'	'	'	'	'
Continuing operations (in dollars per share)	$1.27	$0.95	$4.16	$0.43	$0.56	$0.21	$0.14	($0.07)	$6.79	$0.88	($0.67)
Discontinued operations (in dollars per share)	$0	$0	$0	$0	($0.01)	$0.01	$0	($0.04)	$0	($0.04)	($0.47)
Total (in dollars per share)	$1.27	$0.95	$4.16	$0.43	$0.55	$0.22	$0.14	($0.11)	$6.79	$0.84	($1.14)
1.6 percent convertible senior notes due 2018	'	'	'	'	'	'	'	'	'	'	'
NUMERATOR	'	'	'	'	'	'	'	'	'	'	'
Plus: interest on convertible senior notes	'	'	'	'	'	'	'	'	2,916	1,829	0
Effect of dilutive securities:	'	'	'	'	'	'	'	'	'	'	'
Convertible senior notes (in shares)	'	'	'	'	'	'	'	'	7,023,780	4,406,700	0
Diluted	'	'	'	'	'	'	'	'	'	'	'
Interest rate stated percentage	1.60%	'	'	'	1.60%	'	'	'	1.60%	1.60%	1.60%
0.25 percent convertible senior notes due 2019	'	'	'	'	'	'	'	'	'	'	'
NUMERATOR	'	'	'	'	'	'	'	'	'	'	'
Plus: interest on convertible senior notes	'	'	'	'	'	'	'	'	$710	$0	$0
Effect of dilutive securities:	'	'	'	'	'	'	'	'	'	'	'
Convertible senior notes (in shares)	'	'	'	'	'	'	'	'	2,198,196	0	0
Diluted	'	'	'	'	'	'	'	'	'	'	'
Interest rate stated percentage	0.25%	'	'	'	0.25%	'	'	'	0.25%	0.25%	0.25%

Derivative_Instruments_Details

Derivative Instruments (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Derivative Instruments (Details) (USD $)	item	6.9 percent senior notes due June 2013	Designated hedge	Designated hedge	Mortgage interest rate lock commitments ("IRLCs")	Mortgage interest rate lock commitments ("IRLCs")	Forward-delivery contracts	Forward-delivery contracts
Notional amounts	'	'	'	'	'	'	'	'
Number of derivative financial instruments held for trading purposes	0	'	'	'	'	'	'	'
Notional amount	'	'	'	'	$269,210,000	$137,741,000	$118,000,000	$68,000,000
Average number of days of interest rate commitment before closing	'	'	'	'	'180 days	'	'	'
Interest rate, low end range	'	'	'	'	3.00%	3.00%	'	'
Interest rate, high end range	'	'	'	'	5.30%	5.30%	'	'
Interest rate stated percentage	'	6.90%	'	'	'	'	'	'
Change in net unrealized gain (loss) related to cash flow hedging instruments, net of taxes	'	'	1,700,000	1,200,000	'	'	'	'
Income tax benefit associated with the gain resulting from settlements	'	'	$653,000	$462,000	'	'	'	'

Marketable_Securities_Availabl2

Marketable Securities, Available-for-sale (Details) (USD $)	12 Months Ended
Marketable Securities, Available-for-sale (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Marketable Securities, Available-for-sale	'	'	'
Gain from marketable securities, net	$1,849,000	$2,214,000	$3,882,000
Schedule of fair values of available-for-sale marketable securities	'	'	'
AMORTIZED COST	313,391,000	385,082,000	'
GROSS UNREALIZED GAINS	821,000	1,278,000	'
GROSS UNREALIZED LOSSES	-1,057,000	-735,000	'
ESTIMATED FAIR VALUE	313,155,000	385,625,000	'
Total debt securities	'	'	'
Schedule of fair values of available-for-sale marketable securities	'	'	'
AMORTIZED COST	305,152,000	348,549,000	'
GROSS UNREALIZED GAINS	821,000	1,278,000	'
GROSS UNREALIZED LOSSES	-1,057,000	-728,000	'
ESTIMATED FAIR VALUE	304,916,000	349,099,000	'
U.S. Treasury securities	'	'	'
Schedule of fair values of available-for-sale marketable securities	'	'	'
AMORTIZED COST	76,355,000	3,098,000	'
GROSS UNREALIZED GAINS	149,000	1,000	'
GROSS UNREALIZED LOSSES	0	0	'
ESTIMATED FAIR VALUE	76,504,000	3,099,000	'
Obligations of U.S. government agencies	'	'	'
Schedule of fair values of available-for-sale marketable securities	'	'	'
AMORTIZED COST	17,074,000	133,029,000	'
GROSS UNREALIZED GAINS	2,000	112,000	'
GROSS UNREALIZED LOSSES	-8,000	-31,000	'
ESTIMATED FAIR VALUE	17,068,000	133,110,000	'
Municipal debt securities	'	'	'
Schedule of fair values of available-for-sale marketable securities	'	'	'
AMORTIZED COST	33,492,000	21,745,000	'
GROSS UNREALIZED GAINS	492,000	896,000	'
GROSS UNREALIZED LOSSES	-1,008,000	-458,000	'
ESTIMATED FAIR VALUE	32,976,000	22,183,000	'
Corporate debt securities	'	'	'
Schedule of fair values of available-for-sale marketable securities	'	'	'
AMORTIZED COST	157,798,000	163,352,000	'
GROSS UNREALIZED GAINS	102,000	116,000	'
GROSS UNREALIZED LOSSES	-21,000	-75,000	'
ESTIMATED FAIR VALUE	157,879,000	163,393,000	'
Asset-backed securities	'	'	'
Schedule of fair values of available-for-sale marketable securities	'	'	'
AMORTIZED COST	20,433,000	27,325,000	'
GROSS UNREALIZED GAINS	76,000	153,000	'
GROSS UNREALIZED LOSSES	-20,000	-164,000	'
ESTIMATED FAIR VALUE	20,489,000	27,314,000	'
Time deposits	'	'	'
Schedule of fair values of available-for-sale marketable securities	'	'	'
AMORTIZED COST	1,606,000	'	'
GROSS UNREALIZED GAINS	0	'	'
GROSS UNREALIZED LOSSES	0	'	'
ESTIMATED FAIR VALUE	1,606,000	0	'
Short-term pooled investments	'	'	'
Schedule of fair values of available-for-sale marketable securities	'	'	'
AMORTIZED COST	6,633,000	36,533,000	'
GROSS UNREALIZED GAINS	0	0	'
GROSS UNREALIZED LOSSES	0	-7,000	'
ESTIMATED FAIR VALUE	$6,633,000	$36,526,000	'

Marketable_Securities_Availabl3

Marketable Securities, Available-for-sale (Details 2) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Contractual maturity:	'	'
ESTIMATED FAIR VALUE	$313,155	$385,625
Total debt securities	'	'
Contractual maturity:	'	'
Maturing in one year or less	129,384	66,546
Maturing after one year through three years	154,169	257,595
Maturing after three years	21,363	24,958
ESTIMATED FAIR VALUE	304,916	349,099
Time deposits and short-term pooled investments	'	'
Contractual maturity:	'	'
ESTIMATED FAIR VALUE	$8,239	$36,526

Fair_Values_of_Financial_and_N2

Fair Values of Financial and Nonfinancial Instruments (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
	loan	loan
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	$313,155,000	$385,625,000
Mortgage loans held-for-sale, unpaid principal balance	137,500,000	103,400,000
Mortgage loans held-for-sale, difference between the aggregate fair value and the aggregate unpaid principal balance	2,100,000	4,600,000
Number of loans 90 days or more past due	2	0
Mortgage loans held-for-sale, aggregate carrying value of loans with payments 90 days or more past due	467,000	'
Mortgage loans held-for-sale, aggregate unpaid principal balance of loans with payments 90 days or more past due	738,000	'
Senior notes, net	1,396,619,000	1,128,481,000
U.S. Treasury securities	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	76,504,000	3,099,000
Obligations of U.S. government agencies	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	17,068,000	133,110,000
Municipal debt securities	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	32,976,000	22,183,000
Corporate debt securities	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	157,879,000	163,393,000
Asset-backed securities	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	20,489,000	27,314,000
Time deposits	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	1,606,000	0
Short-term pooled investments	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	6,633,000	36,526,000
Level 1 \| Recurring Measurement \| U.S. Treasury securities	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	76,504,000	3,099,000
Level 1 \| Recurring Measurement \| Obligations of U.S. government agencies	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	17,068,000	133,110,000
Level 1 \| Recurring Measurement \| Short-term pooled investments	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	6,633,000	36,526,000
Level 2 \| Recurring Measurement \| Mortgage loans held-for-sale	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	139,576,000	107,950,000
Level 2 \| Recurring Measurement \| Mortgage interest rate lock commitments ("IRLCs")	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	5,218,000	4,737,000
Level 2 \| Recurring Measurement \| Forward-delivery contracts	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	2,261,000	-369,000
Level 2 \| Recurring Measurement \| Municipal debt securities	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	32,976,000	22,183,000
Level 2 \| Recurring Measurement \| Corporate debt securities	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	157,879,000	163,393,000
Level 2 \| Recurring Measurement \| Asset-backed securities	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	20,489,000	27,314,000
Level 2 \| Recurring Measurement \| Time deposits	'	'
Fair value measurement for financial instruments	'	'
Marketable securities, available-for-sale	1,606,000	0
Carrying value	'	'
Fair value measurement for financial instruments	'	'
Senior notes, net	1,400,000,000	1,100,000,000
Total Fair Value	'	'
Fair value measurement for financial instruments	'	'
Senior notes, net	$1,600,000,000	$1,300,000,000

Fair_Values_of_Financial_and_N3

Fair Values of Financial and Nonfinancial Instruments (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Financial and nonfinancial instruments	'	'	'
Impairment charges	$2,022,000	$6,262,000	$17,319,000
Mortgage interest rate lock commitments ("IRLCs")	'	'	'
Financial and nonfinancial instruments	'	'	'
Gains realized on the IRLC pipeline	480,000	1,400,000	1,900,000
Gains (losses) from instruments used to hedge IRLCs	8,800,000	-8,100,000	-7,300,000
Mortgage loans held-for-sale	'	'	'
Financial and nonfinancial instruments	'	'	'
Gains on loan sales	17,000,000	26,600,000	17,900,000
Measured on a non-recurring basis \| Housing inventory	'	'	'
Financial and nonfinancial instruments	'	'	'
Fair value of impaired assets	'	2,900,000	'
Impairment charges	0	1,900,000	'
Measured on a non-recurring basis \| Other assets held-for-sale	'	'	'
Financial and nonfinancial instruments	'	'	'
Fair value of impaired assets	596,000	263,000	'
Impairment charges	154,000	41,000	'
Measured on a non-recurring basis \| Investments in joint ventures	'	'	'
Financial and nonfinancial instruments	'	'	'
Fair value of impaired assets	'	1,300,000	'
Impairment charges	'	$40,000	'

Debt_and_Credit_Facilities_Det

Debt and Credit Facilities (Details) (USD $)

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

10-May-12

Dec. 31, 2011

Dec. 31, 2013

14-May-13

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Senior notes

5.4 percent senior notes due January 2015

8.4 percent senior notes due May 2017

6.6 percent senior notes due May 2020

5.4 percent senior notes due October 2022

6.9 percent senior notes due June 2013

1.6 percent convertible senior notes due May 2018

0.25 percent convertible senior notes due June 2019

Seller-financed nonrecourse secured notes

Repurchase credit facility

Maximum

JPM

Debt

Total senior notes and convertible senior notes

$1,398,981,000

$1,131,481,000

$126,481,000

$230,000,000

$300,000,000

$250,000,000

$225,000,000

$267,500,000

Debt discount

-2,362,000

-3,000,000

Senior notes and convertible senior notes, net

1,396,619,000

1,128,481,000

Secured notes payable

689,000

5,987,000

689,000

6,000,000

Total debt

1,397,308,000

1,134,468,000

Financial services credit facility

73,084,000

73,100,000

Maturities of debt

2014

73,760,000

2015

126,494,000

2016

2017

230,000,000

2018

225,000,000

After 2018

817,500,000

Total

1,472,754,000

Other debt disclosures

Interest rate stated percentage

5.40%

8.40%

6.60%

5.40%

6.90%

1.60%

0.25%

Pretax charges related to early retirement of debt

9,146,000

1,608,000

1,600,000

9,100,000

Debt repurchased

51,500,000

167,200,000

Cash paid for redemption and repurchase

177,219,000

52,917,000

52,900,000

177,200,000

Principal amount of senior notes issued

267,500,000

475,000,000

250,000,000

225,000,000

267,500,000

Conversion ratio of debt instrument

0.0312168

0.0133307

Debt instrument, initial conversion price (in dollars per share)

$32.03

$75.01

Debt instrument, conversion premium (as a percent)

42.50%

50.00%

Closing price of common stock (in dollars per share)

$22.48

$50.01

Number of previous trading days considered for average closing price of common stock used to determine option price

'10 days

Number of previous trading days considered for average closing price of common stock used to determine payment of tender offer

'10 days

Regular cash dividend (in dollars per share)

$0.03

Minimum number of days within 30 consecutive trading days in which the closing price of the entity's common stock must exceed the conversion price for the notes to be redeemed for cash

'20 days

Number of consecutive trading days during which the closing price of the entity's common stock must exceed the conversion price for at least 20 days in order for the notes to be redeemed for cash

'30 days

Number of trading days preceding the date on which notice of redemption is provided

'5 days

Percentage of the conversion price that the closing sales price of the entity's common stock must exceed in order for the notes to be redeemed for cash

130.00%

Redemption price as a percentage of principal amount of the notes

100.00%

Amount of sinking fund

Net proceeds from offering

246,600,000

218,800,000

260,100,000

Cash proceeds of long-term debt

267,500,000

475,000,000

Letters of credit outstanding

93,600,000

79,500,000

Maximum borrowing capacity

$75,000,000

$50,000,000

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended		6 Months Ended	12 Months Ended			21 Months Ended	36 Months Ended
	Jun. 30, 2013	Mar. 31, 2012	Jun. 30, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2013
	item	Mar. 31, 2012	item	item	Dec. 31, 2012	Dec. 31, 2011	item	item
Income Taxes	'	'	'	'	'	'	'	'
Pretax income (loss)	'	($5,100,000)	'	$195,800,000	'	'	$242,900,000	$184,100,000
Income Taxes	'	'	'	'	'	'	'	'
Period of cumulative pretax loss position considered in the evaluation of negative evidence	'	'	'3 years	'	'	'	'	'
Number of consecutive quarters of earnings considered for valuation allowance	5	'	5	7	'	'	7	7
Tax period within which temporary differences related to previously impaired inventory will be reversed if annual pretax income remains at current levels in future years	'	'	'5 years	'	'	'	'	'
Reversal of valuation allowance against the company's deferred tax assets	187,500,000	'	'	'	'	'	'	'
Valuation allowance against deferred tax assets	46,400,000	'	46,400,000	0	258,867,000	'	0	0
Overall effective income tax (benefit) expense rate (as a percent)	'	'	'	-93.70%	3.80%	-5.30%	'	'
Tax adjustments, settlements and unusual provisions	'	'	'	'	'	2,400,000	'	'
Net deferred tax assets	'	'	'	185,900,000	258,900,000	'	185,900,000	185,900,000
Federal	'	'	'	'	'	'	'	'
Income Taxes	'	'	'	'	'	'	'	'
Period of NOL carryforward	'	'	'	'20 years	'	'	'	'
Period of federal tax credit carryforwards	'	'	'	'20 years	'	'	'	'
State	'	'	'	'	'	'	'	'
Income Taxes	'	'	'	'	'	'	'	'
Settlement payment with taxing authority	'	'	'	'	'	$1,600,000	'	'
State \| Minimum	'	'	'	'	'	'	'	'
Income Taxes	'	'	'	'	'	'	'	'
Period of NOL carryforward	'	'	'	'10 years	'	'	'	'
State \| Maximum	'	'	'	'	'	'	'	'
Income Taxes	'	'	'	'	'	'	'	'
Period of NOL carryforward	'	'	'	'20 years	'	'	'	'

Income_Taxes_Details_2

Income Taxes (Details 2) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Reconciliation of the federal income tax statutory rate to the Company's effective income tax rate	'	'	'	'	'	'	'	'	'	'	'
Federal income tax statutory rate (as a percent)	'	'	'	'	'	'	'	'	35.00%	35.00%	35.00%
State income taxes, net of federal tax (as a percent)	'	'	'	'	'	'	'	'	3.20%	3.50%	3.20%
Deferred tax valuation allowance (as a percent)	'	'	'	'	'	'	'	'	-132.20%	-39.30%	-37.80%
Compensation expense (as a percent)	'	'	'	'	'	'	'	'	0.10%	2.70%	-1.60%
Settlement of uncertain tax positions (as a percent)	'	'	'	'	'	'	'	'	0.00%	0.00%	4.60%
Other (as a percent)	'	'	'	'	'	'	'	'	0.20%	1.90%	1.90%
Effective income tax rate (as a percent)	'	'	'	'	'	'	'	'	-93.70%	3.80%	5.30%
CURRENT TAX EXPENSE (BENEFIT)	'	'	'	'	'	'	'	'	'	'	'
Federal	'	'	'	'	'	'	'	'	($75)	$568	($227)
State	'	'	'	'	'	'	'	'	471	1,017	-2,638
Total current tax expense (benefit)	'	'	'	'	'	'	'	'	396	1,585	-2,865
DEFERRED TAX BENEFIT	'	'	'	'	'	'	'	'	'	'	'
Federal	'	'	'	'	'	'	'	'	-139,207	0	0
State	'	'	'	'	'	'	'	'	-44,597	0	0
Total deferred tax benefit	'	'	'	'	'	'	'	'	-183,804	0	0
Total income tax (benefit) expense	2,917	428	-186,952	199	1,372	23	190	0	-183,408	1,585	-2,865
DEFERRED TAX ASSETS	'	'	'	'	'	'	'	'	'	'	'
Warranty, legal and other accruals	19,900	'	'	'	17,482	'	'	'	19,900	17,482	'
Employee benefits	19,054	'	'	'	19,285	'	'	'	19,054	19,285	'
Noncash tax charge for impairment of long-lived assets	59,608	'	'	'	88,042	'	'	'	59,608	88,042	'
Joint ventures	4,038	'	'	'	4,188	'	'	'	4,038	4,188	'
Federal NOL carryforwards	72,248	'	'	'	120,068	'	'	'	72,248	120,068	'
Other carryforwards	994	'	'	'	1,057	'	'	'	994	1,057	'
State NOL carryforwards	37,971	'	'	'	37,893	'	'	'	37,971	37,893	'
Other	1,131	'	'	'	912	'	'	'	1,131	912	'
Total	214,944	'	'	'	288,927	'	'	'	214,944	288,927	'
Valuation allowance	0	'	-46,400	'	-258,867	'	'	'	0	-258,867	'
Total deferred tax assets	214,944	'	'	'	30,060	'	'	'	214,944	30,060	'
DEFERRED TAX LIABILITIES	'	'	'	'	'	'	'	'	'	'	'
Deferred recognition of income and gains	-1,196	'	'	'	-2,277	'	'	'	-1,196	-2,277	'
Capitalized expenses	-24,553	'	'	'	-25,748	'	'	'	-24,553	-25,748	'
Other	-3,291	'	'	'	-2,035	'	'	'	-3,291	-2,035	'
Total deferred tax liabilities	-29,040	'	'	'	-30,060	'	'	'	-29,040	-30,060	'
NET DEFERRED TAX ASSET	$185,904	'	'	'	$0	'	'	'	$185,904	$0	'

Income_Taxes_Details_3

Income Taxes (Details 3) (USD $)	12 Months Ended
Income Taxes (Details 3) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Unrecognized tax benefits	'	'
Liability for gross unrecognized tax benefits	$553,000	$318,000
Unrecognized tax benefits which if recognized will affect the entity's effective tax rate	359,000	207,000
Accrued interest and penalties	46,000	18,000
Gross state unrecognized tax benefits which will reverse due to anticipated expirations of time to assess tax	0	'
Company's summary of accounting for tax uncertainties	'	'
Balance at the beginning of the period	318,000	129,000
Additions related to prior year positions	235,000	218,000
Reductions due to expiration of the statute of limitations	0	-29,000
Balance at the end of the period	$553,000	$318,000

Employee_Savings_Stock_Purchas1

Employee Savings, Stock Purchase, Long-Term Incentive and Supplemental Executive Retirement Plans (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Employee benefit plan	'	'	'
Actuarial loss on the projected benefit obligation due a to a change in discount rate	$1,674,000	$0	$0
Retirement Saving Opportunity Plan (RSOP)	'	'	'
Employee benefit plan	'	'	'
Eligibility requirement, initial period of employment for which part-time employees must complete 1,000 hours of service	'12 months	'	'
Eligibility requirement, service hours that must be completed by part-time employees within the first 12 months of employment or within any plan year after the date of hire	'1000 hours	'	'
Total compensation expense related to Company's matching contributions	2,200,000	2,000,000	1,800,000
Employee Stock Purchase Plan (ESPP)	'	'	'
Employee benefit plan	'	'	'
Percentage employer matches of the employee's percentage contribution matched	'	20.00%	'
Total compensation expense related to Company's matching contributions	193,000	164,000	153,000
Supplemental Executive Retirement plan	'	'	'
Employee benefit plan	'	'	'
Retirement plan vesting period	'5 years	'	'
Value of assets held in trust	15,200,000	13,100,000	'
Death benefit	'	863,000	'
Service costs	41,000	121,000	347,000
Interest costs	1,000,000	1,200,000	731,000
Actuarial loss on the projected benefit obligation due a to a change in discount rate	1,700,000	'	'
Investment gain (loss)	2,100,000	1,100,000	-521,000
Projected benefit obligations	15,400,000	12,700,000	'
Weighted-average discount rate (as a percent)	2.00%	5.50%	7.00%
Expected future payouts	'	'	'
2014	90,000	'	'
2015	1,500,000	'	'
2016	5,400,000	'	'
2017	1,600,000	'	'
2018	2,900,000	'	'
2019 through 2023	$3,200,000	'	'

Employee_Savings_Stock_Purchas2

Employee Savings, Stock Purchase, Long-Term Incentive and Supplemental Executive Retirement Plans (Details 2) (2013 Executive Officer Long-Term Incentive Plan)	0 Months Ended
	Feb. 26, 2013
Long-Term Incentive Plan	'
Threshold TSR percentile of the performance to earn one-half of the target amount of performance shares	50.00%
Threshold percent of revenue growth over the long-term performance period to earn one-half of the target amount of performance shares	60.00%
Maximum	'
Long-Term Incentive Plan	'
TSR percentile level of the performance to earn zero percent of one-half of the target amount of performance shares	30.00%
TSR percentile level of the performance to earn 200 percent of one-half of the target amount of performance shares	90.00%
Percent of revenue growth over the long-term performance period to earn zero percent of one-half of the target amount of performance shares	45.00%
Percent of revenue growth over the long-term performance period to earn to 200 percent of one-half of the target amount of performance shares	75.00%
TSR at or below the 30 percentile level \| Minimum	'
Long-Term Incentive Plan	'
Percentage of target amount of performance shares earned by an executive officer	0.00%
TSR at or above the 90 percentile level \| Maximum	'
Long-Term Incentive Plan	'
Percentage of target amount of performance shares earned by an executive officer	200.00%
Revenue growth at or below 45 percent \| Minimum	'
Long-Term Incentive Plan	'
Percentage of target amount of performance shares earned by an executive officer	0.00%
Revenue growth at or above 75 percent \| Maximum	'
Long-Term Incentive Plan	'
Percentage of target amount of performance shares earned by an executive officer	200.00%
Performance share units	'
Long-Term Incentive Plan	'
Number of performance share units approved under the plan	135,332
Long-term performance period	'3 years

StockBased_Compensation_Detail

Stock-Based Compensation (Details) (USD $)	12 Months Ended
Stock-Based Compensation (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Stock option / award activity	'	'	'	'
Available for future grant (in shares)	3,303,855	3,016,108	'	'
Stock options / awards	'	'	'	'
Stock-based compensation expense	$19,500,000	$17,800,000	$9,700,000	'
Excess tax benefits	0	0	0	'
Intrinsic values of stock options exercised	15,300,000	5,400,000	284,000	'
Stock options	'	'	'	'
Stock-based compensation	'	'	'	'
Vesting period	'3 years	'	'	'
Stock option / award activity	'	'	'	'
Options outstanding at the beginning of the period (in shares)	3,419,423	3,948,874	3,722,656	'
Granted (in shares)	0	756,000	781,000	'
Exercised (in shares)	-863,933	-568,293	-44,398	'
Forfeited (in shares)	-229,289	-717,158	-510,384	'
Options outstanding at the end of the period (in shares)	2,326,201	3,419,423	3,948,874	3,722,656
Available for future grant (in shares)	3,303,855	3,016,108	3,346,508	'
Total shares reserved at the end of period	5,630,056	6,435,531	7,295,382	'
Options exercisable at the end of period (in shares)	1,650,893	1,967,786	2,574,246	'
WEIGHTED-AVERAGE EXERCISE PRICE	'	'	'	'
Options outstanding at the beginning of the period (in dollars per option)	$26.92	$28.91	$33.29	'
Granted (in dollars per option)	$0	$18.55	$16.52	'
Exercised (in dollars per option)	$24.55	$18.89	$11.97	'
Forfeited (in dollars per option)	$34.88	$35.38	$43.36	'
Options outstanding at the end of the period (in dollars per option)	$27.02	$26.92	$28.91	$33.29
Options exercisable at the end of period (in dollars per option)	$30.74	$33.10	$34.35	'
WEIGHTED-AVERAGE REMAINING CONTRACTUAL LIFE (in years)	'	'	'	'
Weighted average remaining contractual life, Options outstanding at the end of the period	'2 years 3 months 18 days	'2 years 10 months 24 days	'2 years 4 months 24 days	'2 years 9 months 18 days
Weighted average remaining contractual life, Options exercisable at the end of the period	'1 year 7 months 6 days	'1 year 7 months 6 days	'1 year 8 months 12 days	'
AGGREGATE INTRINSIC VALUE	'	'	'	'
Aggregate intrinsic value, Options outstanding at the end of the period	44,123,000	42,992,000	553,000	'
Aggregate intrinsic value, Options exercisable at the end of period	26,908,000	16,939,000	369,000	'
Stock options / awards	'	'	'	'
Stock-based compensation expense	3,500,000	5,000,000	4,000,000	'
2011 Equity and Incentive Plan	'	'	'	'
Stock-based compensation	'	'	'	'
Number of equal annual installments in which awards vest, with performance criteria	3	'	'	'
2011 Equity and Incentive Plan \| Maximum	'	'	'	'
Stock-based compensation	'	'	'	'
Expiration period of stock options from date of grant	'7 years	'	'	'
Predecessor plans to the 2011 Equity and Incentive Plan \| Minimum	'	'	'	'
Stock-based compensation	'	'	'	'
Expiration period of stock options from date of grant	'5 years	'	'	'
Predecessor plans to the 2011 Equity and Incentive Plan \| Maximum	'	'	'	'
Stock-based compensation	'	'	'	'
Expiration period of stock options from date of grant	'10 years	'	'	'
2004 Non-Employee Director Equity Plan and predecessor plans \| Maximum	'	'	'	'
Stock-based compensation	'	'	'	'
Expiration period of stock options from date of grant	'10 years	'	'	'
Non-Employee Director Stock Plans	'	'	'	'
Stock options / awards	'	'	'	'
Stock-based compensation expense	838,000	404,000	415,000	'
2011 Non-Employee Director Stock Plan (the Director Plan)	'	'	'	'
Stock-based compensation	'	'	'	'
Number of shares authorized for issuance to each director	3,000	'	'	'
The maximum period of time that can elapse subsequent to a new director's appointment prior to receipt of an initial award in accordance with the plan	'30 days	'	'	'
Stock option / award activity	'	'	'	'
Available for future grant (in shares)	138,830	158,000	'	'
Restricted stock units	'	'	'	'
Stock-based compensation	'	'	'	'
Number of equal annual installments in which awards vest, with performance criteria	3	'	'	'
Stock options / awards	'	'	'	'
Stock-based compensation expense	$15,100,000	$12,400,000	$5,300,000	'

StockBased_Compensation_Detail1

Stock-Based Compensation (Details 2) (2012 Amended Executive Officer Non-Qualified Stock Option Agreement, USD $)	12 Months Ended
	Dec. 31, 2013
$14.13 to $18.05	'
Stock options outstanding and exercisable	'
Exercise Price Range, Lower Range Limit (in dollars per share)	$14.13
Exercise Price Range, Upper Range Limit (in dollars per share)	$18.05
OPTIONS OUTSTANDING	'
NUMBER OUTSTANDING (in shares)	678,133
WEIGHTED-AVERAGE REMAINING LIFE	'1 year 9 months 18 days
WEIGHTED-AVERAGE EXERCISE PRICE (in dollars per share)	$16.02
OPTIONS EXERCISABLE	'
NUMBER EXERCISABLE (in shares)	454,803
WEIGHTED-AVERAGE EXERCISE PRICE (in dollars per share)	$15.75
$18.22 to $23.27	'
Stock options outstanding and exercisable	'
Exercise Price Range, Lower Range Limit (in dollars per share)	$18.22
Exercise Price Range, Upper Range Limit (in dollars per share)	$23.27
OPTIONS OUTSTANDING	'
NUMBER OUTSTANDING (in shares)	1,053,994
WEIGHTED-AVERAGE REMAINING LIFE	'3 years 6 months
WEIGHTED-AVERAGE EXERCISE PRICE (in dollars per share)	$20.36
OPTIONS EXERCISABLE	'
NUMBER EXERCISABLE (in shares)	615,349
WEIGHTED-AVERAGE EXERCISE PRICE (in dollars per share)	$21.89
$30.60 to $72.13	'
Stock options outstanding and exercisable	'
Exercise Price Range, Lower Range Limit (in dollars per share)	$30.60
Exercise Price Range, Upper Range Limit (in dollars per share)	$72.13
OPTIONS OUTSTANDING	'
NUMBER OUTSTANDING (in shares)	594,074
WEIGHTED-AVERAGE REMAINING LIFE	'1 year
WEIGHTED-AVERAGE EXERCISE PRICE (in dollars per share)	$51.39
OPTIONS EXERCISABLE	'
NUMBER EXERCISABLE (in shares)	580,741
WEIGHTED-AVERAGE EXERCISE PRICE (in dollars per share)	$51.87

StockBased_Compensation_Detail2

Stock-Based Compensation (Details 3) (USD $)	12 Months Ended										0 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Mar. 01, 2012
				2012 Amended Executive Officer Non-Qualified Stock Option Agreement	Restricted stock units	Restricted stock units	Restricted stock units	Stock options	Stock options	Stock options	Stock options
											Senior executive officers
Weighted-average inputs used and fair values determined for stock options granted	'	'	'	'	'	'	'	'	'	'	'
Assumed annual dividend rate upon which expected dividend yield is based (in dollars per share)	'	'	'	'	'	'	'	$0.12	'	'	'
Expected volatility (as a percent)	'	'	'	'	'	'	'	0.00%	49.30%	51.00%	'
Expected dividend yield (as a percent)	'	'	'	'	'	'	'	0.00%	0.70%	0.70%	'
Expected term	'	'	'	'	'	'	'	'0 years	'4 years 6 months	'3 years 6 months	'
Risk-free rate (as a percent)	'	'	'	'	'	'	'	0.00%	0.80%	1.40%	'
Weighted-average grant-date fair value (in dollars per share)	$0	$7.21	$6.02	'	'	'	'	$0	$7.21	$6.02	'
Additional disclosure	'	'	'	'	'	'	'	'	'	'	'
Stock options awarded (in shares)	0	756,000	781,000	'	'	'	'	'	'	'	275,000
Minimum stock price as a percentage of grant price	'	'	'	150.00%	'	'	'	'	'	'	'
Restricted stock units	'	'	'	'	'	'	'	'	'	'	'
Restricted stock units at the beginning of the period (in shares)	'	'	'	'	774,217	657,825	727,317	'	'	'	'
Shares awarded	'	'	'	'	143,594	473,408	305,000	'	'	'	'
Shares vested	'	'	'	'	-354,369	-350,349	-314,492	'	'	'	'
Shares forfeited	'	'	'	'	-24,336	-6,667	-60,000	'	'	'	'
Restricted stock units at the end of the period (in shares)	'	'	'	'	539,106	774,217	657,825	'	'	'	'
Outstanding restricted shares vesting schedule	'	'	'	'	'	'	'	'	'	'	'
Outstanding restricted stock unit awards, vesting in 2014 (in shares)	'	'	'	'	298,979	'	'	'	'	'	'
Outstanding restricted stock unit awards, vesting in 2015 (in shares)	'	'	'	'	193,201	'	'	'	'	'	'
Outstanding restricted stock unit awards, vesting in 2016 (in shares)	'	'	'	'	46,926	'	'	'	'	'	'
Share-based compensation arrangement by share-based payment award, nonvested options	'	'	'	'	'	'	'	'	'	'	'
Nonvested options at the beginning of the period (in shares)	1,451,637	1,374,628	1,142,130	'	'	'	'	'	'	'	'
Granted (in shares)	0	756,000	781,000	'	'	'	'	'	'	'	275,000
Vested (in shares)	-697,667	-611,659	-498,507	'	'	'	'	'	'	'	'
Forfeited (in shares)	-78,662	-67,332	-49,995	'	'	'	'	'	'	'	'
Nonvested options at the end of the period (in shares)	675,308	1,451,637	1,374,628	'	'	'	'	'	'	'	'
Nonvested stock options weighted average grant date fair value	'	'	'	'	'	'	'	'	'	'	'
Nonvested options at the beginning of the period, weighted-average grant-date fair value (in dollars per share)	$7.08	$7	$8.31	'	'	'	'	'	'	'	'
Weighted-average grant-date fair value (in dollars per share)	$0	$7.21	$6.02	'	'	'	'	$0	$7.21	$6.02	'
Vested (in dollars per share)	$7.35	$7.03	$8.37	'	'	'	'	'	'	'	'
Forfeited (in dollars per share)	$6.78	$7.47	$7.89	'	'	'	'	'	'	'	'
Nonvested options at the end of the period, weighted-average grant-date fair value (in dollars per share)	$6.84	$7.08	$7	'	'	'	'	'	'	'	'
Information related to nonvested options	'	'	'	'	'	'	'	'	'	'	'
Total unrecognized compensation cost related to nonvested stock option awards	$2.30	'	'	'	'	'	'	'	'	'	'
Total unrecognized compensation cost, period of recognition	'1 year 8 months 12 days	'	'	'	'	'	'	'	'	'	'

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
	score	score	score	score	score	score
Company's rent expense	'	'	'	'	'	'
Total rent expense	$6,553,000	$5,933,000	$7,087,000	'	'	'
Income from subleases	-323,000	-385,000	-456,000	'	'	'
Net rent expense	6,230,000	5,548,000	6,631,000	'	'	'
Rent expense from discontinued operations	0	556,000	365,000	'	'	'
Future minimum rental commitments under noncancellable leases	'	'	'	'	'	'
2014	5,301,000	'	'	'	'	'
2015	4,855,000	'	'	'	'	'
2016	3,477,000	'	'	'	'	'
2017	2,460,000	'	'	'	'	'
2018	1,508,000	'	'	'	'	'
Thereafter	1,780,000	'	'	'	'	'
Income from subleases	-242,000	'	'	'	'	'
Total lease commitments	19,139,000	'	'	'	'	'
Mortgage loan types originated (as a percent)	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Average FICO credit score	733	731	726	723	717	711
Average combined loan-to-value ratio (as a percent)	89.80%	90.10%	90.30%	90.80%	91.40%	90.10%
Mortgage interest rate lock commitments ("IRLCs")	'	'	'	'	'	'
Commitments and Contingencies	'	'	'	'	'	'
Average number of days of interest rate commitment before closing	'180 days	'	'	'	'	'
Maximum number of days of loan commitment extension	'270 days	'	'	'	'	'
Notional amount	269,200,000	137,700,000	'	'	'	'
Development bonds	'	'	'	'	'	'
Future minimum rental commitments under noncancellable leases	'	'	'	'	'	'
Guarantee obligations estimated exposure pertaining to land development and improvements	138,900,000	108,400,000	'	'	'	'
Performance-related cash deposits and letters of credit	'	'	'	'	'	'
Future minimum rental commitments under noncancellable leases	'	'	'	'	'	'
Guarantee obligations estimated exposure pertaining to land development and improvements	64,000,000	52,000,000	'	'	'	'
Prime	'	'	'	'	'	'
Future minimum rental commitments under noncancellable leases	'	'	'	'	'	'
Mortgage loan types originated (as a percent)	57.20%	48.60%	42.20%	34.90%	32.90%	51.80%
Government (FHA/VA/USDA)	'	'	'	'	'	'
Future minimum rental commitments under noncancellable leases	'	'	'	'	'	'
Mortgage loan types originated (as a percent)	42.80%	51.40%	57.80%	65.10%	67.10%	48.20%
Lot option purchase contracts	'	'	'	'	'	'
Commitments and Contingencies	'	'	'	'	'	'
Cash deposits and/or letters of credit	73,000,000	53,100,000	'	'	'	'
Aggregate purchase price	869,100,000	589,600,000	'	'	'	'
Purchase commitments, specific performance	$2,500,000	$492,000	'	'	'	'

Commitments_and_Contingencies_2

Commitments and Contingencies (Details 2) (USD $)	12 Months Ended
Commitments and Contingencies (Details 2) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Changes in the entity's loan loss and related legal reserves	'	'	'
Balance at the beginning of the period	$10,484,000	$10,141,000	$8,934,000
Provision for losses	1,580,000	1,156,000	1,368,000
Settlements made	-592,000	-813,000	-161,000
Balance at the end of the period	11,472,000	10,484,000	10,141,000
Product warranty	'	'	'
Number of years of product warranty for workmanship and materials	'1 year	'	'
Number of years of product warranty for mechanical systems	'2 years	'	'
Number of years of product warranty for structural systems	'10 years	'	'
Product liability reserves	'	'	'
Balance at the beginning of the period	18,188,000	20,648,000	20,112,000
Warranties issued	9,052,000	3,899,000	3,549,000
Changes in liability for accruals related to pre-existing warranties	1,891,000	1,866,000	2,823,000
Settlements made	-5,992,000	-8,225,000	-5,836,000
Balance at the end of the period	23,139,000	18,188,000	20,648,000
Insurance reserves \| RHIC	'	'	'
Changes in entity's subcontractor insurance reserves	'	'	'
Balance at the beginning of period	14,813,000	18,209,000	21,141,000
Insurance expense provisions or adjustments	1,445,000	-1,369,000	-900,000
Loss expenses paid	-2,401,000	-2,027,000	-2,032,000
Balance at the end of period	13,857,000	14,813,000	18,209,000
Legal reserves	'	'	'
Changes in entity's legal reserves	'	'	'
Legal reserves	17,200,000	17,900,000	'
Reasonably possible losses in excess of amounts accrued	$10,000,000	'	'

Supplemental_Guarantor_Informa2

Supplemental Guarantor Information (Details)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
5.4 percent senior notes due January 2015	'	'	'
Interest rate on obligations of the parent, guaranteed by the Guarantor Subsidiaries	'	'	'
Interest rate stated percentage	5.40%	'	'
8.4 percent senior notes due May 2017	'	'	'
Interest rate on obligations of the parent, guaranteed by the Guarantor Subsidiaries	'	'	'
Interest rate stated percentage	8.40%	'	'
1.6 percent convertible senior notes due May 2018	'	'	'
Interest rate on obligations of the parent, guaranteed by the Guarantor Subsidiaries	'	'	'
Interest rate stated percentage	1.60%	1.60%	1.60%
0.25 percent convertible senior notes due June 2019	'	'	'
Interest rate on obligations of the parent, guaranteed by the Guarantor Subsidiaries	'	'	'
Interest rate stated percentage	0.25%	0.25%	0.25%
6.6 percent senior notes due May 2020	'	'	'
Interest rate on obligations of the parent, guaranteed by the Guarantor Subsidiaries	'	'	'
Interest rate stated percentage	6.60%	'	'
5.4 percent senior notes due October 2022	'	'	'
Interest rate on obligations of the parent, guaranteed by the Guarantor Subsidiaries	'	'	'
Interest rate stated percentage	5.40%	5.40%	'

Supplemental_Guarantor_Informa3

Supplemental Guarantor Information (Details 2) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Consolidating statements of earnings details	'	'	'	'	'	'	'	'	'	'	'
REVENUES	$696,657	$576,423	$492,995	$374,680	$440,135	$358,693	$293,769	$215,869	$2,140,755	$1,308,466	$889,531
EXPENSES	'	'	'	'	'	'	'	'	1,946,913	1,257,567	924,537
OTHER INCOME (LOSS)	'	'	'	'	'	'	'	'	1,849	-6,932	2,274
Income (loss) from continuing operations before taxes	75,223	53,986	44,279	22,203	30,319	10,430	6,239	-3,021	195,691	43,967	-32,732
Tax (benefit) expense	2,917	428	-186,952	199	1,372	23	190	0	-183,408	1,585	-2,865
Equity in net earnings (loss) of subsidiaries	'	'	'	'	'	'	'	'	0	0	0
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	72,306	53,558	231,231	22,004	28,947	10,407	6,049	-3,021	379,099	42,382	-29,867
Income (loss) from discontinued operations, net of taxes	-61	91	-37	113	-374	238	223	-2,087	106	-2,000	-20,883
NET INCOME (LOSS)	72,245	53,649	231,194	22,117	28,573	10,645	6,272	-5,108	379,205	40,382	-50,750
CONSOLIDATING ELIMINATIONS	'	'	'	'	'	'	'	'	'	'	'
Consolidating statements of earnings details	'	'	'	'	'	'	'	'	'	'	'
REVENUES	'	'	'	'	'	'	'	'	-39,386	-3,281	0
EXPENSES	'	'	'	'	'	'	'	'	-39,386	-3,281	0
OTHER INCOME (LOSS)	'	'	'	'	'	'	'	'	0	0	0
Income (loss) from continuing operations before taxes	'	'	'	'	'	'	'	'	0	0	0
Tax (benefit) expense	'	'	'	'	'	'	'	'	0	0	0
Equity in net earnings (loss) of subsidiaries	'	'	'	'	'	'	'	'	-161,978	-26,005	1,826
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	'	'	'	'	'	'	'	'	-161,978	-26,005	1,826
Income (loss) from discontinued operations, net of taxes	'	'	'	'	'	'	'	'	-1	1,018	5,763
NET INCOME (LOSS)	'	'	'	'	'	'	'	'	-161,979	-24,987	7,589
TRG, INC. \| Reportable legal entities	'	'	'	'	'	'	'	'	'	'	'
Consolidating statements of earnings details	'	'	'	'	'	'	'	'	'	'	'
REVENUES	'	'	'	'	'	'	'	'	1,207,509	711,947	458,500
EXPENSES	'	'	'	'	'	'	'	'	1,097,280	688,026	491,505
OTHER INCOME (LOSS)	'	'	'	'	'	'	'	'	1,849	-6,932	2,274
Income (loss) from continuing operations before taxes	'	'	'	'	'	'	'	'	112,078	16,989	-30,731
Tax (benefit) expense	'	'	'	'	'	'	'	'	-105,043	612	-2,690
Equity in net earnings (loss) of subsidiaries	'	'	'	'	'	'	'	'	161,978	26,005	-1,826
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	'	'	'	'	'	'	'	'	379,099	42,382	-29,867
Income (loss) from discontinued operations, net of taxes	'	'	'	'	'	'	'	'	106	-2,000	-20,883
NET INCOME (LOSS)	'	'	'	'	'	'	'	'	379,205	40,382	-50,750
GUARANTOR SUBSIDIARIES \| Reportable legal entities	'	'	'	'	'	'	'	'	'	'	'
Consolidating statements of earnings details	'	'	'	'	'	'	'	'	'	'	'
REVENUES	'	'	'	'	'	'	'	'	921,252	562,181	404,104
EXPENSES	'	'	'	'	'	'	'	'	857,707	548,345	411,844
OTHER INCOME (LOSS)	'	'	'	'	'	'	'	'	0	0	0
Income (loss) from continuing operations before taxes	'	'	'	'	'	'	'	'	63,545	13,836	-7,740
Tax (benefit) expense	'	'	'	'	'	'	'	'	-59,557	499	-677
Equity in net earnings (loss) of subsidiaries	'	'	'	'	'	'	'	'	0	0	0
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	'	'	'	'	'	'	'	'	123,102	13,337	-7,063
Income (loss) from discontinued operations, net of taxes	'	'	'	'	'	'	'	'	1	-1,018	-5,763
NET INCOME (LOSS)	'	'	'	'	'	'	'	'	123,103	12,319	-12,826
NON-GUARANTOR SUBSIDIARIES \| Reportable legal entities	'	'	'	'	'	'	'	'	'	'	'
Consolidating statements of earnings details	'	'	'	'	'	'	'	'	'	'	'
REVENUES	'	'	'	'	'	'	'	'	51,380	37,619	26,927
EXPENSES	'	'	'	'	'	'	'	'	31,312	24,477	21,188
OTHER INCOME (LOSS)	'	'	'	'	'	'	'	'	0	0	0
Income (loss) from continuing operations before taxes	'	'	'	'	'	'	'	'	20,068	13,142	5,739
Tax (benefit) expense	'	'	'	'	'	'	'	'	-18,808	474	502
Equity in net earnings (loss) of subsidiaries	'	'	'	'	'	'	'	'	0	0	0
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	'	'	'	'	'	'	'	'	38,876	12,668	5,237
Income (loss) from discontinued operations, net of taxes	'	'	'	'	'	'	'	'	0	0	0
NET INCOME (LOSS)	'	'	'	'	'	'	'	'	$38,876	$12,668	$5,237

Supplemental_Guarantor_Informa4

Supplemental Guarantor Information (Details 3) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Consolidating statements of other comprehensive income	'	'	'	'	'	'	'	'	'	'	'
Net (loss) income	$72,245	$53,649	$231,194	$22,117	$28,573	$10,645	$6,272	($5,108)	$379,205	$40,382	($50,750)
Other comprehensive loss before tax:	'	'	'	'	'	'	'	'	'	'	'
Actuarial loss on defined benefit pension plan	'	'	'	'	'	'	'	'	-1,674	0	0
Reduction of unrealized gain related to cash flow hedging instruments	'	'	'	'	'	'	'	'	0	-1,709	-1,207
Unrealized gain (loss) on marketable securities, available-for-sale:	'	'	'	'	'	'	'	'	'	'	'
Unrealized gain (loss)	'	'	'	'	'	'	'	'	-279	1,217	360
Less: reclassification adjustments for losses included in net income	'	'	'	'	'	'	'	'	64	-233	-1,358
Total unrealized (loss) gain on marketable securities, available-for-sale	'	'	'	'	'	'	'	'	-215	984	-998
Other comprehensive loss before tax	'	'	'	'	'	'	'	'	-1,889	-725	-2,205
Income tax benefit related to items of other comprehensive loss	'	'	'	'	'	'	'	'	640	653	502
Other comprehensive loss, net of tax	'	'	'	'	'	'	'	'	-1,249	-72	-1,703
Comprehensive income (loss)	'	'	'	'	'	'	'	'	377,956	40,310	-52,453
CONSOLIDATING ELIMINATIONS	'	'	'	'	'	'	'	'	'	'	'
Consolidating statements of other comprehensive income	'	'	'	'	'	'	'	'	'	'	'
Net (loss) income	'	'	'	'	'	'	'	'	-161,979	-24,987	7,589
Other comprehensive loss before tax:	'	'	'	'	'	'	'	'	'	'	'
Actuarial loss on defined benefit pension plan	'	'	'	'	'	'	'	'	0	'	'
Reduction of unrealized gain related to cash flow hedging instruments	'	'	'	'	'	'	'	'	'	0	0
Unrealized gain (loss) on marketable securities, available-for-sale:	'	'	'	'	'	'	'	'	'	'	'
Unrealized gain (loss)	'	'	'	'	'	'	'	'	0	0	0
Less: reclassification adjustments for losses included in net income	'	'	'	'	'	'	'	'	0	0	0
Total unrealized (loss) gain on marketable securities, available-for-sale	'	'	'	'	'	'	'	'	0	0	0
Other comprehensive loss before tax	'	'	'	'	'	'	'	'	0	0	0
Income tax benefit related to items of other comprehensive loss	'	'	'	'	'	'	'	'	0	0	0
Other comprehensive loss, net of tax	'	'	'	'	'	'	'	'	0	0	0
Comprehensive income (loss)	'	'	'	'	'	'	'	'	-161,979	-24,987	7,589
TRG, INC. \| Reportable legal entities	'	'	'	'	'	'	'	'	'	'	'
Consolidating statements of other comprehensive income	'	'	'	'	'	'	'	'	'	'	'
Net (loss) income	'	'	'	'	'	'	'	'	379,205	40,382	-50,750
Other comprehensive loss before tax:	'	'	'	'	'	'	'	'	'	'	'
Actuarial loss on defined benefit pension plan	'	'	'	'	'	'	'	'	-1,411	'	'
Reduction of unrealized gain related to cash flow hedging instruments	'	'	'	'	'	'	'	'	'	-1,709	-1,207
Unrealized gain (loss) on marketable securities, available-for-sale:	'	'	'	'	'	'	'	'	'	'	'
Unrealized gain (loss)	'	'	'	'	'	'	'	'	-279	1,217	360
Less: reclassification adjustments for losses included in net income	'	'	'	'	'	'	'	'	64	-233	-1,358
Total unrealized (loss) gain on marketable securities, available-for-sale	'	'	'	'	'	'	'	'	-215	984	-998
Other comprehensive loss before tax	'	'	'	'	'	'	'	'	-1,626	-725	-2,205
Income tax benefit related to items of other comprehensive loss	'	'	'	'	'	'	'	'	540	653	502
Other comprehensive loss, net of tax	'	'	'	'	'	'	'	'	-1,086	-72	-1,703
Comprehensive income (loss)	'	'	'	'	'	'	'	'	378,119	40,310	-52,453
GUARANTOR SUBSIDIARIES \| Reportable legal entities	'	'	'	'	'	'	'	'	'	'	'
Consolidating statements of other comprehensive income	'	'	'	'	'	'	'	'	'	'	'
Net (loss) income	'	'	'	'	'	'	'	'	123,103	12,319	-12,826
Other comprehensive loss before tax:	'	'	'	'	'	'	'	'	'	'	'
Actuarial loss on defined benefit pension plan	'	'	'	'	'	'	'	'	-134	'	'
Reduction of unrealized gain related to cash flow hedging instruments	'	'	'	'	'	'	'	'	'	0	0
Unrealized gain (loss) on marketable securities, available-for-sale:	'	'	'	'	'	'	'	'	'	'	'
Unrealized gain (loss)	'	'	'	'	'	'	'	'	0	0	0
Less: reclassification adjustments for losses included in net income	'	'	'	'	'	'	'	'	0	0	0
Total unrealized (loss) gain on marketable securities, available-for-sale	'	'	'	'	'	'	'	'	0	0	0
Other comprehensive loss before tax	'	'	'	'	'	'	'	'	-134	0	0
Income tax benefit related to items of other comprehensive loss	'	'	'	'	'	'	'	'	51	0	0
Other comprehensive loss, net of tax	'	'	'	'	'	'	'	'	-83	0	0
Comprehensive income (loss)	'	'	'	'	'	'	'	'	123,020	12,319	-12,826
NON-GUARANTOR SUBSIDIARIES \| Reportable legal entities	'	'	'	'	'	'	'	'	'	'	'
Consolidating statements of other comprehensive income	'	'	'	'	'	'	'	'	'	'	'
Net (loss) income	'	'	'	'	'	'	'	'	38,876	12,668	5,237
Other comprehensive loss before tax:	'	'	'	'	'	'	'	'	'	'	'
Actuarial loss on defined benefit pension plan	'	'	'	'	'	'	'	'	-129	'	'
Reduction of unrealized gain related to cash flow hedging instruments	'	'	'	'	'	'	'	'	'	0	0
Unrealized gain (loss) on marketable securities, available-for-sale:	'	'	'	'	'	'	'	'	'	'	'
Unrealized gain (loss)	'	'	'	'	'	'	'	'	0	0	0
Less: reclassification adjustments for losses included in net income	'	'	'	'	'	'	'	'	0	0	0
Total unrealized (loss) gain on marketable securities, available-for-sale	'	'	'	'	'	'	'	'	0	0	0
Other comprehensive loss before tax	'	'	'	'	'	'	'	'	-129	0	0
Income tax benefit related to items of other comprehensive loss	'	'	'	'	'	'	'	'	49	0	0
Other comprehensive loss, net of tax	'	'	'	'	'	'	'	'	-80	0	0
Comprehensive income (loss)	'	'	'	'	'	'	'	'	$38,796	$12,668	$5,237

Supplemental_Guarantor_Informa5

Supplemental Guarantor Information (Details 4) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
ASSETS	'	'	'	'
Cash and cash equivalents	$227,986	$158,087	'	'
Marketable securities and restricted cash	403,189	456,518	'	'
Consolidated inventory owned	1,616,607	1,037,928	'	'
Consolidated inventory not owned	33,176	39,490	'	'
Total housing inventories	1,649,783	1,077,418	'	'
Investment in subsidiaries	0	0	'	'
Intercompany receivables	0	0	'	'
Other assets	499,354	239,416	'	'
Assets of discontinued operations	30	2,480	'	'
TOTAL ASSETS	2,780,342	1,933,919	'	'
LIABILITIES	'	'	'	'
Accounts payable and other accrued liabilities	385,521	272,155	'	'
Financial services credit facility	73,084	0	'	'
Debt	1,397,308	1,134,468	'	'
Intercompany payables	0	0	'	'
Liabilities of discontinued operations	504	1,536	'	'
TOTAL LIABILITIES	1,856,417	1,408,159	'	'
EQUITY	'	'	'	'
STOCKHOLDERS' EQUITY	908,046	503,936	449,687	499,856
NONCONTROLLING INTEREST	15,879	21,824	34,223	'
TOTAL LIABILITIES AND EQUITY	2,780,342	1,933,919	'	'
CONSOLIDATING ELIMINATIONS	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	0	0	'	'
Marketable securities and restricted cash	0	0	'	'
Consolidated inventory owned	0	0	'	'
Consolidated inventory not owned	0	0	'	'
Total housing inventories	0	0	'	'
Investment in subsidiaries	-369,580	-244,917	'	'
Intercompany receivables	-517,057	-368,126	'	'
Other assets	0	0	'	'
Assets of discontinued operations	0	0	'	'
TOTAL ASSETS	-886,637	-613,043	'	'
LIABILITIES	'	'	'	'
Accounts payable and other accrued liabilities	0	0	'	'
Financial services credit facility	0	'	'	'
Debt	0	0	'	'
Intercompany payables	-517,057	-368,126	'	'
Liabilities of discontinued operations	0	0	'	'
TOTAL LIABILITIES	-517,057	-368,126	'	'
EQUITY	'	'	'	'
STOCKHOLDERS' EQUITY	-369,580	-244,917	'	'
NONCONTROLLING INTEREST	0	0	'	'
TOTAL LIABILITIES AND EQUITY	-886,637	-613,043	'	'
TRG, INC. \| Reportable legal entities	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	25,521	32,130	'	'
Marketable securities and restricted cash	377,267	429,057	'	'
Consolidated inventory owned	955,943	643,619	'	'
Consolidated inventory not owned	17,297	17,666	'	'
Total housing inventories	973,240	661,285	'	'
Investment in subsidiaries	369,580	244,917	'	'
Intercompany receivables	517,057	368,126	'	'
Other assets	290,153	76,183	'	'
Assets of discontinued operations	0	187	'	'
TOTAL ASSETS	2,552,818	1,811,885	'	'
LIABILITIES	'	'	'	'
Accounts payable and other accrued liabilities	247,328	172,906	'	'
Financial services credit facility	0	'	'	'
Debt	1,397,308	1,134,468	'	'
Intercompany payables	0	0	'	'
Liabilities of discontinued operations	136	575	'	'
TOTAL LIABILITIES	1,644,772	1,307,949	'	'
EQUITY	'	'	'	'
STOCKHOLDERS' EQUITY	908,046	503,936	'	'
NONCONTROLLING INTEREST	0	0	'	'
TOTAL LIABILITIES AND EQUITY	2,552,818	1,811,885	'	'
GUARANTOR SUBSIDIARIES \| Reportable legal entities	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	193,356	117,838	'	'
Marketable securities and restricted cash	0	0	'	'
Consolidated inventory owned	660,664	394,309	'	'
Consolidated inventory not owned	0	0	'	'
Total housing inventories	660,664	394,309	'	'
Investment in subsidiaries	0	0	'	'
Intercompany receivables	0	0	'	'
Other assets	54,052	43,572	'	'
Assets of discontinued operations	30	2,293	'	'
TOTAL ASSETS	908,102	558,012	'	'
LIABILITIES	'	'	'	'
Accounts payable and other accrued liabilities	106,420	68,929	'	'
Financial services credit facility	0	'	'	'
Debt	0	0	'	'
Intercompany payables	465,252	275,163	'	'
Liabilities of discontinued operations	368	961	'	'
TOTAL LIABILITIES	572,040	345,053	'	'
EQUITY	'	'	'	'
STOCKHOLDERS' EQUITY	336,062	212,959	'	'
NONCONTROLLING INTEREST	0	0	'	'
TOTAL LIABILITIES AND EQUITY	908,102	558,012	'	'
NON-GUARANTOR SUBSIDIARIES \| Reportable legal entities	'	'	'	'
ASSETS	'	'	'	'
Cash and cash equivalents	9,109	8,119	'	'
Marketable securities and restricted cash	25,922	27,461	'	'
Consolidated inventory owned	0	0	'	'
Consolidated inventory not owned	15,879	21,824	'	'
Total housing inventories	15,879	21,824	'	'
Investment in subsidiaries	0	0	'	'
Intercompany receivables	0	0	'	'
Other assets	155,149	119,661	'	'
Assets of discontinued operations	0	0	'	'
TOTAL ASSETS	206,059	177,065	'	'
LIABILITIES	'	'	'	'
Accounts payable and other accrued liabilities	31,773	30,320	'	'
Financial services credit facility	73,084	'	'	'
Debt	0	0	'	'
Intercompany payables	51,805	92,963	'	'
Liabilities of discontinued operations	0	0	'	'
TOTAL LIABILITIES	156,662	123,283	'	'
EQUITY	'	'	'	'
STOCKHOLDERS' EQUITY	33,518	31,958	'	'
NONCONTROLLING INTEREST	15,879	21,824	'	'
TOTAL LIABILITIES AND EQUITY	$206,059	$177,065	'	'

Supplemental_Guarantor_Informa6

Supplemental Guarantor Information (Details 5) (USD $)

3 Months Ended

12 Months Ended

In Thousands, unless otherwise specified

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

CASH FLOWS FROM OPERATING ACTIVITIES

Net (loss) income from continuing operations

$72,306

$53,558

$231,231

$22,004

$28,947

$10,407

$6,049

($3,021)

$379,099

$42,382

($29,867)

Adjustments to reconcile net income (loss) from continuing operations to net cash (used for) provided by operating activities

-217,448

36,537

58,477

Changes in assets and liabilities

-428,355

-199,306

-185,290

Other operating activities, net

-1,264

-792

-988

Net cash used for operating activities from continuing operations

-267,968

-121,179

-157,668

CASH FLOWS FROM INVESTING ACTIVITIES

(Contributions to) return of investment in unconsolidated joint ventures, net

-3,227

2,310

1,955

Additions to property, plant and equipment

-19,908

-12,224

-10,964

Purchases of marketable securities, available-for-sale

-756,217

-1,176,108

-1,313,281

Proceeds from sales and maturities of marketable securities, available-for-sale

829,332

1,140,968

1,404,130

Cash paid for business acquisitions

-50,930

-80,182

Other investing activities, net

109

118

Net cash (used for) provided by investing activities from continuing operations

-950

-125,127

81,958

CASH FLOWS FROM FINANCING ACTIVITIES

Increase (decrease) in debt

262,202

299,935

-58,027

(Decrease) increase in borrowings against revolving credit facilities, net

73,084

-49,933

49,933

Common stock dividends and stock-based compensation

22,672

8,955

-1,783

Increase (decrease) in restricted cash

-19,141

-13,844

17,989

Intercompany balances

Net cash provided by financing activities from continuing operations

338,817

245,113

8,112

Net increase (decrease) in cash and cash equivalents from continuing operations

69,899

-1,193

-67,598

Cash flows from operating activities-discontinued operations

-25

-104

469

Cash flows from investing activities-discontinued operations

-363

Cash flows from financing activities-discontinued operations

-89

Cash and cash equivalents at beginning of period

158,114

[1],[2]

159,336

[1],[2]

158,114

[1],[2]

159,336

[1],[2]

226,917

[1]

CASH AND CASH EQUIVALENTS AT END OF PERIOD

228,013

[2]

158,114

[1],[2]

228,013

[2]

158,114

[1],[2]

159,336

[1],[2]

CONSOLIDATING ELIMINATIONS

CASH FLOWS FROM OPERATING ACTIVITIES

Net (loss) income from continuing operations

-161,978

-26,005

1,826

Adjustments to reconcile net income (loss) from continuing operations to net cash (used for) provided by operating activities

Changes in assets and liabilities

161,978

26,005

-1,826

Other operating activities, net

Net cash used for operating activities from continuing operations

CASH FLOWS FROM INVESTING ACTIVITIES

(Contributions to) return of investment in unconsolidated joint ventures, net

Additions to property, plant and equipment

Purchases of marketable securities, available-for-sale

Proceeds from sales and maturities of marketable securities, available-for-sale

Cash paid for business acquisitions

Other investing activities, net

Net cash (used for) provided by investing activities from continuing operations

CASH FLOWS FROM FINANCING ACTIVITIES

Increase (decrease) in debt

(Decrease) increase in borrowings against revolving credit facilities, net

Common stock dividends and stock-based compensation

Increase (decrease) in restricted cash

Intercompany balances

Net cash provided by financing activities from continuing operations

Net increase (decrease) in cash and cash equivalents from continuing operations

Cash flows from operating activities-discontinued operations

Cash flows from investing activities-discontinued operations

Cash flows from financing activities-discontinued operations

Cash and cash equivalents at beginning of period

CASH AND CASH EQUIVALENTS AT END OF PERIOD

TRG, INC. | Reportable legal entities

CASH FLOWS FROM OPERATING ACTIVITIES

Net (loss) income from continuing operations

379,099

42,382

-29,867

Adjustments to reconcile net income (loss) from continuing operations to net cash (used for) provided by operating activities

-225,954

28,164

51,325

Changes in assets and liabilities

-317,140

-128,700

-58,187

Other operating activities, net

-1,264

-792

-988

Net cash used for operating activities from continuing operations

-165,259

-58,946

-37,717

CASH FLOWS FROM INVESTING ACTIVITIES

(Contributions to) return of investment in unconsolidated joint ventures, net

-302

708

-912

Additions to property, plant and equipment

-9,546

-7,596

-7,368

Purchases of marketable securities, available-for-sale

-752,043

-1,170,627

-1,307,894

Proceeds from sales and maturities of marketable securities, available-for-sale

823,759

1,134,675

1,397,566

Cash paid for business acquisitions

-19,880

-80,182

Other investing activities, net

Net cash (used for) provided by investing activities from continuing operations

41,988

-123,022

81,392

CASH FLOWS FROM FINANCING ACTIVITIES

Increase (decrease) in debt

262,202

301,145

-55,243

(Decrease) increase in borrowings against revolving credit facilities, net

Common stock dividends and stock-based compensation

22,672

8,955

-1,783

Increase (decrease) in restricted cash

-19,281

-18,658

18,315

Intercompany balances

-148,931

-102,914

-6,625

Net cash provided by financing activities from continuing operations

116,662

188,528

-45,336

Net increase (decrease) in cash and cash equivalents from continuing operations

-6,609

6,560

-1,661

Cash flows from operating activities-discontinued operations

-31

353

Cash flows from investing activities-discontinued operations

-237

Cash flows from financing activities-discontinued operations

-89

Cash and cash equivalents at beginning of period

32,130

25,597

32,130

25,597

27,231

CASH AND CASH EQUIVALENTS AT END OF PERIOD

25,521

32,130

25,521

32,130

25,597

GUARANTOR SUBSIDIARIES | Reportable legal entities

CASH FLOWS FROM OPERATING ACTIVITIES

Net (loss) income from continuing operations

123,102

13,337

-7,063

Adjustments to reconcile net income (loss) from continuing operations to net cash (used for) provided by operating activities

8,225

7,873

6,564

Changes in assets and liabilities

-202,163

-56,003

-40,741

Other operating activities, net

Net cash used for operating activities from continuing operations

-70,836

-34,793

-41,240

CASH FLOWS FROM INVESTING ACTIVITIES

(Contributions to) return of investment in unconsolidated joint ventures, net

-2,925

1,602

2,867

Additions to property, plant and equipment

-9,760

-4,560

-3,443

Purchases of marketable securities, available-for-sale

Proceeds from sales and maturities of marketable securities, available-for-sale

Cash paid for business acquisitions

-31,050

Other investing activities, net

Net cash (used for) provided by investing activities from continuing operations

-43,735

-2,958

-576

CASH FLOWS FROM FINANCING ACTIVITIES

Increase (decrease) in debt

-1,188

-2,784

(Decrease) increase in borrowings against revolving credit facilities, net

Common stock dividends and stock-based compensation

Increase (decrease) in restricted cash

Intercompany balances

190,089

39,705

-15,480

Net cash provided by financing activities from continuing operations

190,089

38,517

-18,264

Net increase (decrease) in cash and cash equivalents from continuing operations

75,518

766

-60,080

Cash flows from operating activities-discontinued operations

-25

-73

116

Cash flows from investing activities-discontinued operations

-126

Cash flows from financing activities-discontinued operations

Cash and cash equivalents at beginning of period

117,865

117,101

117,865

117,101

177,191

CASH AND CASH EQUIVALENTS AT END OF PERIOD

193,383

117,865

193,383

117,865

117,101

NON-GUARANTOR SUBSIDIARIES | Reportable legal entities

CASH FLOWS FROM OPERATING ACTIVITIES

Net (loss) income from continuing operations

38,876

12,668

5,237

Adjustments to reconcile net income (loss) from continuing operations to net cash (used for) provided by operating activities

281

500

588

Changes in assets and liabilities

-71,030

-40,608

-84,536

Other operating activities, net

Net cash used for operating activities from continuing operations

-31,873

-27,440

-78,711

CASH FLOWS FROM INVESTING ACTIVITIES

(Contributions to) return of investment in unconsolidated joint ventures, net

Additions to property, plant and equipment

-602

-68

-153

Purchases of marketable securities, available-for-sale

-4,174

-5,481

-5,387

Proceeds from sales and maturities of marketable securities, available-for-sale

5,573

6,293

6,564

Cash paid for business acquisitions

Other investing activities, net

109

118

Net cash (used for) provided by investing activities from continuing operations

797

853

1,142

CASH FLOWS FROM FINANCING ACTIVITIES

Increase (decrease) in debt

-22

(Decrease) increase in borrowings against revolving credit facilities, net

73,084

-49,933

49,933

Common stock dividends and stock-based compensation

Increase (decrease) in restricted cash

140

4,814

-326

Intercompany balances

-41,158

63,209

22,105

Net cash provided by financing activities from continuing operations

32,066

18,068

71,712

Net increase (decrease) in cash and cash equivalents from continuing operations

990

-8,519

-5,857

Cash flows from operating activities-discontinued operations

Cash flows from investing activities-discontinued operations

Cash flows from financing activities-discontinued operations

Cash and cash equivalents at beginning of period

8,119

16,638

8,119

16,638

22,495

CASH AND CASH EQUIVALENTS AT END OF PERIOD

$9,109

$8,119

$9,109

$8,119

$16,638

[1]

Includes cash and cash equivalents associated with discontinued operations of $27,000, $56,000 and $39,000 at December 31, 2012, 2011 and 2010, respectively.

[2]

Includes cash and cash equivalents associated with discontinued operations of $27,000 at December 31, 2013 and 2012, compared to $56,000 at December 31, 2011.

Discontinued_Operations_Detail

Discontinued Operations (Details) (USD $)

3 Months Ended

12 Months Ended

In Thousands, unless otherwise specified

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Assets

Cash and cash equivalents

$27,000

$56,000

$39,000

Total assets of discontinued operations

2,480

Liabilities

Total liabilities of discontinued operations

504

1,536

504

1,536

Net income (loss) from discontinued operations

-61

-37

113

-374

238

223

-2,087

106

-2,000

-20,883

Jacksonville division

Assets

Cash and cash equivalents

Housing Inventories

2,239

Other assets

214

Total assets of discontinued operations

2,480

Liabilities

Accounts payable and accrued liabilities

504

1,536

504

1,536

Total liabilities of discontinued operations

$504

$1,536

$504

$1,536

Quarterly_Financial_Data_Unaud2

Quarterly Financial Data (Unaudited) (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
CONSOLIDATED RESULTS	'	'	'	'	'	'	'	'	'	'	'
Revenues	$696,657	$576,423	$492,995	$374,680	$440,135	$358,693	$293,769	$215,869	$2,140,755	$1,308,466	$889,531
Income (loss) from continuing operations before taxes	75,223	53,986	44,279	22,203	30,319	10,430	6,239	-3,021	195,691	43,967	-32,732
Tax expense (benefit)	2,917	428	-186,952	199	1,372	23	190	0	-183,408	1,585	-2,865
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	72,306	53,558	231,231	22,004	28,947	10,407	6,049	-3,021	379,099	42,382	-29,867
(Loss) income from discontinued operations, net of taxes	-61	91	-37	113	-374	238	223	-2,087	106	-2,000	-20,883
NET INCOME (LOSS)	$72,245	$53,649	$231,194	$22,117	$28,573	$10,645	$6,272	($5,108)	$379,205	$40,382	($50,750)
Basic	'	'	'	'	'	'	'	'	'	'	'
Continuing operations (in dollars per share)	$1.56	$1.16	$5.01	$0.48	$0.64	$0.23	$0.14	($0.07)	$8.22	$0.93	($0.67)
Discontinued operations (in dollars per share)	$0	$0	$0	$0	($0.01)	$0.01	$0	($0.04)	$0	($0.04)	($0.47)
Total (in dollars per share)	$1.56	$1.16	$5.01	$0.48	$0.63	$0.24	$0.14	($0.11)	$8.22	$0.89	($1.14)
Diluted	'	'	'	'	'	'	'	'	'	'	'
Continuing operations (in dollars per share)	$1.27	$0.95	$4.16	$0.43	$0.56	$0.21	$0.14	($0.07)	$6.79	$0.88	($0.67)
Discontinued operations (in dollars per share)	$0	$0	$0	$0	($0.01)	$0.01	$0	($0.04)	$0	($0.04)	($0.47)
Total (in dollars per share)	$1.27	$0.95	$4.16	$0.43	$0.55	$0.22	$0.14	($0.11)	$6.79	$0.84	($1.14)
Weighted-average common shares outstanding:	'	'	'	'	'	'	'	'	'	'	'
Basic (in shares)	46,216,000	46,175,000	46,036,000	45,435,000	45,115,000	44,826,000	44,628,000	44,474,000	45,966,307	44,761,178	44,357,470
Diluted (in shares)	57,807,000	57,679,000	55,690,000	53,362,000	53,053,000	52,466,000	48,395,000	44,474,000	56,219,939	49,655,321	44,357,470