Note 5 - Capitalized Interest (Tables)

3 Months Ended

Mar. 31, 2020

Notes Tables

Interest Income and Interest Expense Disclosure [Table Text Block]

	Three Months Ended March 31,
	2020			2019
	(Dollars in thousands)
Interest incurred	$	6,380		$	7,761
Interest capitalized to inventory		(5,662	)		(7,761	)
Interest expensed	$	718		$	—
Capitalized interest in beginning inventory	$	26,397		$	25,681
Interest capitalized as a cost of inventory		5,662			7,761
Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition		—			10
Previously capitalized interest included in cost of home and land sales		(6,146	)		(4,852	)
Previously capitalized interest included in project abandonments costs		(761	)		—
Capitalized interest in ending inventory	$	25,152		$	28,600
Capitalized interest in beginning investment in unconsolidated joint ventures	$	541		$	713
Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition		—			(10	)
Previously capitalized interest included in equity in net income (loss) of unconsolidated joint ventures		(448	)		(31	)
Capitalized interest in ending investment in unconsolidated joint ventures		93			672
Total capitalized interest in ending inventory and investments in unconsolidated joint ventures	$	25,245		$	29,272
Capitalized interest as a percentage of inventory		6.3	%		5.1	%
Interest included in cost of home sales as a percentage of home sales revenue		6.5	%		4.9	%
Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures		0.3	%		2.0	%