XML 37 R22.htm IDEA: XBRL DOCUMENT v3.22.4
Revenue Recognition (Tables)
12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Disaggregation of Revenue
The following reflects the disaggregation of revenue by primary geographic market, type of customer, product type, and timing of revenue recognition (in thousands):
Years Ended December 31,
202220212020
Residential units revenueLand and lots revenueResidential units revenueLand and lots revenueResidential units revenueLand and lots revenue
Primary Geographical Market
Central$1,181,393 $46,479 $938,052 $66,613 $644,976 $43,788 
Southeast522,558 7,363 371,635 26,576 285,200 2,057 
Total revenues$1,703,951 $53,842 $1,309,687 $93,189 $930,176 $45,845 
Type of Customer
Homebuyers$1,703,951 $— $1,309,687 $— $930,176 $— 
Homebuilders and Multi-family Developers— 53,842 — 93,189 — 45,845 
Total revenues$1,703,951 $53,842 $1,309,687 $93,189 $930,176 $45,845 
Product Type
Residential units$1,703,951 $— $1,309,687 $— $930,176 $— 
Land and lots— 53,842 — 93,189 — 45,845 
Total revenues$1,703,951 $53,842 $1,309,687 $93,189 $930,176 $45,845 
Timing of Revenue Recognition(1)
Transferred at a point in time$1,696,911 $53,842 $1,305,620 $93,189 $923,901 $45,845 
Transferred over time7,040 — 4,067 — 6,275 — 
Total revenues$1,703,951 $53,842 $1,309,687 $93,189 $930,176 $45,845 
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] The aggregate amount of transaction price allocated to the remaining performance obligations on our land sale and lot option contracts is $7.0 million. The Company will recognize the remaining revenue when the lots are taken down, or upon closing for the sale of a land parcel, which is expected to occur as follows (in thousands):
2023$6,969 
2024— 
Total$6,969 
Contract with Customer, Asset and Liability [Table Text Block]
Contract Balances

Opening and closing contract balances included in customer and builder deposits on the consolidated balance sheets are as follows (in thousands):
December 31, 2022December 31, 2021
Customer and builder deposits$29,112 $64,610 

The difference between the opening and closing balances of customer and builder deposits results from the timing difference between the customer’s payment of a deposit and the Company’s delivery of the home, impacted slightly by terminations of contracts. 
The amount of deposits on residential units and land and lots held as of the beginning of the period and recognized as revenue during the years ended December 31, 2022 and 2021 are as follows (in thousands):
20222021
Type of Customer
Homebuyers$20,649 $29,313 
Homebuilders and Multi-Family Developers83 2,126 
Total deposits recognized as revenue$20,732 $31,439