Note 5 - Capitalized Interest (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Interest Income and Interest Expense Disclosure [Table Text Block]

	Year Ended December 31,
	2019			2018			2017
	(Dollars in thousands)
Interest incurred	$	28,819		$	28,377		$	21,978
Interest capitalized to inventory		(28,819	)		(27,393	)		(20,394	)
Interest capitalized to investment in unconsolidated joint ventures		—			(984	)		(1,584	)
Interest expensed	$	—		$	—		$	—
Capitalized interest in beginning inventory	$	25,681		$	16,453		$	6,342
Interest capitalized as a cost of inventory		28,819			27,393			20,394
Capitalized interest acquired from unconsolidated joint ventures at consolidation		—			—			738
Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition		31			513			—
Previously capitalized interest included in cost of home and land sales		(28,134	)		(18,678	)		(11,021	)
Capitalized interest in ending inventory	$	26,397		$	25,681		$	16,453
Capitalized interest in beginning investment in unconsolidated joint ventures	$	713		$	1,472		$	—
Interest capitalized to investment in unconsolidated joint ventures		—			984			1,584
Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon consolidation		—			—			(76	)
Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition		(31	)		(513	)		—
Previously capitalized interest included in equity in net income (loss) of unconsolidated joint ventures		(141	)		(1,230	)		(36	)
Capitalized interest in ending investment in unconsolidated joint ventures		541			713			1,472
Total capitalized interest in ending inventory and investments in unconsolidated joint ventures	$	26,938		$	26,394		$	17,925
Capitalized interest as a percentage of inventory		6.1	%		4.5	%		4.0	%
Interest included in cost of home sales as a percentage of home sales revenue		4.9	%		3.7	%		2.0	%
Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures		1.8	%		2.1	%		2.6	%