Help. I don't understand the goodwill. This is not a good sign. PHM overpaid for Centex. I understand the first $600 million and I am not concerned about that. What about the add'l $674 million sitting on the balance sheet as Goodwill in asset writedowns. I can't see how this makes sense; to me this goodwill is worthless. Any help would be appreciated.

Purchase Price $1.5 billion
CTX Book value +$900 million
Goodwill =$600 million
Land Write down +$674 million
Other Assets +$71 million
Other +$50 million
Final Goodwill =$1.4 billion