Prepaid Expenses and Other Assets

9 Months Ended

Sep. 30, 2020

Prepaid Expenses and Other Assets [Abstract]

Prepaid Expenses and Other Assets

5. Prepaid Expenses and Other Assets

Prepaid expenses and other assets included the following (in thousands):

	September 30,		December 31,
	2020		2019
Prepaid insurance	$	21,537	$	26,175
Lot option and escrow deposits		36,828		48,810
Deferred financing costs on revolving line of credit, net		3,550		4,574
Restricted cash (1)		2,549		3,085
Secured note receivable		2,460		2,602
Right of use assets		16,697		18,854
Other assets and prepaid expenses		22,308		18,525
Derivative assets		7,410		1,383
Total prepaid expenses and other assets	$	113,339	$	124,008

⁽¹⁾ Restricted cash consists of earnest money deposits for home sale contracts held by third parties as required by various jurisdictions, and certain pledge balances associated with our mortgage repurchase facilities.