Inventories (Tables)

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Schedule of Inventory

The following table sets forth, by reportable segment, information relating to our homebuilding inventories:

	June 30, 2024		December 31, 2023
	(Dollars in thousands)
Housing completed or under construction:
West	$	1,187,925	$	1,163,495
Mountain	574,284		448,735
East	356,122		269,038
Subtotal	2,118,331		1,881,268
Land and land under development:
West	735,008		874,605
Mountain	360,639		382,897
East	127,857		162,276
Subtotal	1,223,504		1,419,778
Total inventories	$	3,341,835	$	3,301,046

Schedule of Inventory Impairments

Inventory impairments recognized by segment for the three and six months ended June 30, 2024 and 2023 are shown in the table below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(Dollars in thousands)				(Dollars in thousands)
Housing Completed or Under Construction:
West	$	1,423	$	1,787	$	2,331	$	1,787
Mountain	—		—		400		664
East	880		—		880		—
Subtotal	2,303		1,787		3,611		2,451
Land and Land Under Development:
West	77		11,713		4,669		11,713
Mountain	—		—		—		7,136
East	2,170		—		2,170		—
Subtotal	2,247		11,713		6,839		18,849
Total Inventory Impairments	$	4,550	$	13,500	$	10,450	$	21,300

Schedule of Quantitative Data for Fair Value of the Impaired Inventory

The table below provides quantitative data, for the periods presented, where applicable, used in determining the fair value of the impaired inventory.

	Impairment Data				Quantitative Data
Three Months Ended	Number of Subdivisions Impaired	Inventory Impairments		Fair Value of Inventory After Impairments	Discount Rate
	(Dollars in thousands)
June 30, 2024	4	4,550		27,834	12%	—	15%
March 31, 2024	3	5,900		17,634	12%	—	18%
Total		$	10,450
June 30, 2023	1	13,500		17,886	18%
March 31, 2023	1	7,800		13,016	18%
Total		$	21,300