Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
ASSETS:
Cash, cash equivalents and restricted cash	$ 734,174	$ 821,570
Mortgage loans held for sale	239,585	283,540
Inventory	3,412,830	3,091,862
Property and equipment - net	32,668	34,513
Investment in joint venture arrangements	81,514	65,334
Operating lease right-of-use assets	50,322	53,895
Deferred Income Tax Assets, Net	13,451	13,451
Goodwill	16,400	16,400
Other assets	188,600	169,231
Total assets	4,769,544	4,549,796
LIABILITIES:
Accounts payable	257,981	198,579
Customer deposits	61,602	69,327
Operating lease liabilities	51,968	55,365
Other liabilities	293,716	281,019
Community development district obligations	8,747	12,839
Obligation for consolidated inventory not owned	18,122	11,809
Notes payable bank - homebuilding operations	0
Notes payable bank - financial service operations	231,979	286,159
Senior notes due 2028 - net	398,233	397,653
Senior notes due 2030 - net	297,747	297,369
TOTAL LIABILITIES	1,620,095	1,610,119
Commitments and contingencies (Note 6)	0	0
SHAREHOLDERS' EQUITY:
Common shares - $0.01 par value; authorized 58,000,000 shares at both September 30, 2025 and December 31, 2024; issued 30,137,141 shares at both September 30, 2025 and December 31, 2024	301	301
Additional paid-in capital	339,812	348,705
Retained earnings	3,204,043	2,865,073
Treasury shares - at cost - 3,988,632 and 3,074,118 shares at September 30, 2025 and December 31, 2024, respectively	(394,707)	(274,402)
TOTAL SHAREHOLDERS' EQUITY	3,149,449	2,939,677
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 4,769,544	$ 4,549,796