Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2017

The summary of capitalized interest for the years ended December 31, 2017, 2016 and 2015 is as follows:



	Year Ended December 31,
(In thousands)	2017			2016			2015
Capitalized interest, beginning of period	$	16,012		$	16,740		$	15,296
Interest capitalized to inventory	21,484			17,685			18,410
Capitalized interest charged to cost of sales	(20,327		)	(18,413		)	(16,966		)
Capitalized interest, end of year	$	17,169		$	16,012		$	16,740

Interest incurred	$	40,358		$	35,283		$	35,931

Following are the major classes of depreciable assets and their estimated useful lives:



	Year Ended December 31,
(In thousands)	2017			2016
Land, building and improvements	$	11,823		$	11,823
Office furnishings, leasehold improvements, computer equipment and computer software	30,409			25,895
Transportation and construction equipment	10,067			10,075
Property and equipment	52,299			47,793
Accumulated depreciation	(25,483		)	(25,494		)
Property and equipment, net	$	26,816		$	22,299



	Estimated Useful Lives
Building and improvements	35 years
Office furnishings, leasehold improvements, computer equipment and computer software	3-7 years
Transportation and construction equipment	5-25 years

Other assets at December 31, 2017 and 2016 consisted of the following:.



	Year Ended December 31,
(In thousands)	2017		2016
Development reimbursement receivable from local municipalities	$	14,981	$	15,698
Mortgage servicing rights	7,821		11,443
Prepaid expenses	9,022		11,227
Prepaid acquisition costs	5,634		4,740
Other	23,677		19,818
Total other assets	$	61,135	$	62,926

Other liabilities at December 31, 2017 and 2016 consisted of the following:



	Year Ended December 31,
(In thousands)	2017		2016
Accruals related to land development	$	37,180	$	35,417
Warranty	26,133		27,732
Payroll and other benefits	28,128		26,140
Other	40,093		33,873
Total other liabilities	$	131,534	$	123,162