Real Estate Inventories

12 Months Ended

Dec. 31, 2014

Real estate inventories consist of the following (in thousands):



	December 31,
	2015		2014
Real estate inventories:
Land deposits	$	61,514	$	65,873
Land and land under development	1,013,650		1,057,860
Homes completed and under construction	495,966		225,496
Model homes	103,976		55,410
Total	$	1,675,106	$	1,404,639

The Company accounts for its real estate inventories under ASC 360, which requires impairment losses to be recorded on real estate inventories when indicators of impairment are present and the undiscounted cash flows estimated to be generated by real estate inventories are less than the carrying amount of such assets.

During the years ended December 31, 2015, 2014, and 2013, the Company did not record any impairments to the value of its real estate inventories.