Fair Value Of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2013
Fair Value Disclosures [Abstract]  
Estimated Fair Values Of Financial Instruments
The estimated fair values of financial instruments are as follows (in thousands):
 
 
Successor
 
Predecessor
 
December 31, 2013
 
December 31, 2012
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
Financial liabilities:
 
 
 
 
 
 
 
8 1/2% Senior Notes due 2020
$
431,295

 
$
466,877

 
$
325,000

 
$
338,000

Notes payable
$
38,060

 
$
38,060

 
$
13,248

 
$
13,248
Fair Value Of Debt
The following table represents a reconciliation of the beginning and ending balance for the Company’s Level 3 fair value measurements:
 
 
Notes
Payable
 
Senior
Secured
Term Loan
 
(in thousands)
Fair Value at December 31, 2011 (Predecessor)
$
74,009

 
$
235,000

Repayments of principal (1)
(74,009
)
 
(235,000
)
Borrowings of principal (2)
13,248

 
—

Fair Value at December 31, 2012 (Successor)
$
13,248

 
$
—

Repayments of principal (1)
(65,037
)
 
—

Borrowings of principal (2)
89,849

 
—

Fair Value at December 31, 2013 (Successor)
$
38,060

 
$
—

 

(1)
Represents the actual amount of principal repaid
(2)
Represents the actual amount of principal borrowed
Summary Of Fair-Value Measurements Of Non-Financial Assets
The following table summarizes the fair-value measurements of its non-financial assets for the year ended December 31, 2011:
 
 
Fair Value
Hierarchy
 
Fair Value at
Measurement
Date(1)
 
Impairment
Charges
for the Year Ended
December 31,
2011(1)
 
(in thousands)
Land under development and homes completed and under construction(2)
Level 3
 
$
94,751

 
$
34,835

Inventory held for future development(3)
Level 3
 
$
74,146

 
$
93,479

 
(1)
Amounts represent the aggregate fair values for communities where the Company recognized noncash inventory impairment charges during the year ended December 31, 2011.
(2)
In accordance with FASB ASC 360-10-35, inventory under this caption with a carrying value of $129.6 million was written down to its fair value of $94.8 million, resulting in total impairments of $34.8 million for the year ended December 31, 2011.
(3)
In accordance with FASB ASC 360-10-35, inventory under this caption with a carrying value of $167.6 million was written down to its fair value of $74.1 million, resulting in total impairments of $93.5 million for the year ended December 31, 2011.