Accrued Expenses and Other Liabilities (Tables)

3 Months Ended

Mar. 31, 2019

Payables and Accruals [Abstract]

Schedule of accrued liabilities and other liabilities

Accrued expenses and other liabilities consist of the following:

	March 31,		December 31,
	2019		2018
	(Dollars in thousands)
Warranty accrual(1)	$	6,945	$	6,898
Accrued compensation and benefits	4,021		5,749
Accrued interest	12,543		6,497
Completion reserve	2,152		4,192
Lease liability(2)	3,196		—
Other accrued expenses	4,475		5,692
	$	33,332	$	29,028

(1) Included in the amount at March 31, 2019 and December 31, 2018 is approximately $0.9 million of additional warranty liabilities estimated to be recovered by our insurance policies.

(2) In conjunction with the adoption of ASC 842 the Company established a $3.5 million lease liability on January 1, 2019. For more information, please refer to Note 1

Schedule of changes in warranty accrual

Changes in our warranty accrual are detailed in the table set forth below:

	Three Months Ended March 31,
	2019			2018
	(Dollars in thousands)
Beginning warranty accrual for homebuilding projects	$	6,681		$	6,634
Warranty provision for homebuilding projects	427			516
Warranty payments for homebuilding projects	(341		)	(375		)
Ending warranty accrual for homebuilding projects	6,767			6,775
Beginning warranty accrual for fee building projects	217			225
Warranty provision for fee building projects	9			—
Warranty efforts for fee building projects	(48		)	(2		)
Ending warranty accrual for fee building projects	178			223
Total ending warranty accrual	$	6,945		$	6,998