Cover and table of contents
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Cover and table of contents
10-K 1 w79861e10vk.htm 10-K
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-K
| þ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2010
OR
| o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from ____ to _______________
Commission file number 1-12378
NVR, Inc.
(Exact Name of Registrant as Specified in its Charter)
| Virginia | 54-1394360 | |
| (State or Other Jurisdiction of Incorporation or Organization) | (IRS Employer Identification Number) | |
| 11700 Plaza America Drive, Suite 500 Reston, Virginia | 20190 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (703) 956-4000
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Name of each exchange on which registered | |
| Common stock, par value $0.01 per share | New York Stock Exchange |
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No o
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes o No þ
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes þ No o
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. þ
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12-2 of the Exchange Act. (Check One):
| Large accelerated filer þ | Accelerated filer o | Non-accelerated filer o (Do not check if a Smaller Reporting Company) | Smaller Reporting Company o |
|---|
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes o No þ
The aggregate market value of the voting stock held by non-affiliates of NVR, Inc. on June 30, 2010, the last business day of NVR, Inc.’s most recently completed second fiscal quarter, was approximately $3,693,820,000.
As of February 21, 2011 there were 5,893,203 total shares of common stock outstanding.
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the Proxy Statement of NVR, Inc. to be filed with the Securities and Exchange Commission pursuant to Regulation 14A of the Securities Exchange Act of 1934 on or prior to April 30, 2011 are incorporated by reference into Part III of this report.
INDEX
| Page | ||||
| PART I | ||||
| Item 1. Business 2 | ||||
| Item 1A. Risk Factors 6 | ||||
| Item 1B. Unresolved Staff Comments 11 | ||||
| Item 2. Properties 11 | ||||
| Item 3. Legal Proceedings 12 | ||||
| Item 4. [Removed and Reserved] 13 | ||||
| Executive Officers of the Registrant | 13 | |||
| PART II | ||||
| Item 5. Market for Registrants’ Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 14 | ||||
| Item 6. Selected Financial Data 15 | ||||
| Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 16 | ||||
| Item 7A. Quantitative and Qualitative Disclosure About Market Risk 39 | ||||
| Item 8. Financial Statements and Supplementary Data 42 | ||||
| Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 42 | ||||
| Item 9A. Controls and Procedures 42 | ||||
| Item 9B. Other Information 42 | ||||
| PART III | ||||
| Item 10. Directors, Executive Officers, and Corporate Governance 43 | ||||
| Item 11. Executive Compensation 43 | ||||
| Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 43 | ||||
| Item 13. Certain Relationships and Related Transactions, and Director Independence 44 | ||||
| Item 14. Principal Accountant Fees and Services 44 | ||||
| PART IV | ||||
| Item 15. Exhibits and Financial Statement Schedules 44 |
PART I