In Millions of U.S. Dollars (except for per share items)		Quarter Ending Sep 30, 2009	Quarter Ending Jun 30, 2009	Quarter Ending Mar 31, 2009
	Operating Activity
	Net Income	( 102.5)	( 70.4)	( 40.9)
	Depreciation/Depletion	4.2	2.9	1.6
	Deferred Taxes	–	–	–
	Non-Cash Items	41.1	27.2	20.4
	Changes in Working Capital	301.8	292.1	258.3
	TotalTotal Operating Activity	244.5	251.8	239.5
	Investing Activity
	Capital Expenditures	( 6.1)	( 4.5)	( 3.7)
	Other Investing Cash Flow Items, Total	( 40.8)	38.5	86.4
	TotalTotal Investing Activity	( 46.9)	33.9	82.7
	Financing Activity
	Financing Cash Flow Items	41.3	24.2	4.1
	Dividends Paid	( 35.2)	( 23.4)	( 11.6)
	Issuance/Retirement of Stock, Net	3.6	3.5	0.1
	Issuance/Retirement of Debt, Net	( 63.2)	( 34.9)	( 34.9)
	TotalTotal Financing Activity	( 53.4)	( 30.7)	( 42.3)
	Foreign Exchange Effects	–	–	–
	Total Cash Flow (Net Change in Cash)	144.1	255.1	279.9
	Cash Interest Paid (Indirect Format)	–	–	–
	Cash Taxes Paid (Indirect Format)	–	–	–

Historical financial information is provided by Reuters. M.D.C. Holdings, Inc. makes no representations or warranties with respect to the information contained herein and takes no responsibility for supplementing, updating, or correcting any such information.