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Capitalized Interest (Tables)
 3 Months Ended
Mar. 31, 2019
Capitalized Interest [Abstract]  
Summary of interest incurred, capitalized, and expensed
For the three months ended March 31, 2019 and 2018 interest incurred, capitalized and expensed was as follows:
 
Three months ended March 31,
 
2019
 
2018
 
(Dollars in thousands)
Interest incurred
$
7,761

 
$
6,716

Interest capitalized to inventory
(7,761
)
 
(6,195
)
Interest capitalized to investment in unconsolidated joint ventures
—

 
(521
)
Interest expensed
$
—

 
$
—

 
 
 
 
Capitalized interest in beginning inventory
$
25,681

 
$
16,453

Interest capitalized as a cost of inventory
7,761

 
6,195

Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition
10

 
—

Previously capitalized interest included in cost of home sales
(4,852
)
 
(2,764
)
Capitalized interest in ending inventory
28,600

 
19,884

 
 
 
 
Capitalized interest in beginning investment in unconsolidated joint ventures
$
713

 
$
1,472

Interest capitalized to investment in unconsolidated joint ventures
—

 
521

Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition
(10
)
 
—

Previously capitalized interest included in equity in net income of unconsolidated
joint ventures
(31
)
 
(31
)
Capitalized interest in ending investment in unconsolidated joint ventures
672

 
1,962

Total capitalized interest in ending inventory and investments in unconsolidated
joint ventures
$
29,272

 
$
21,846

 
 
 
 
Capitalized interest as a percentage of inventory
5.1
%
 
4.3
%
Interest included in cost of home sales as a percentage of home sales revenue
4.9
%
 
3.4
%
 
 
 
 
Capitalized interest as a percentage of investment in and advances to unconsolidated
joint ventures
2.0
%
 
3.4
%