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Inventory And Land Held For Sale
 12 Months Ended
Dec. 31, 2016
Inventory Disclosure [Abstract]  
Inventory and land held for sale
Inventory and land held for sale

Major components of inventory at December 31, 2016 and 2015 were ($000’s omitted):
 
2016
 
2015
Homes under construction
$
1,921,259

 
$
1,408,260

Land under development
4,072,109

 
3,259,066

Raw land
777,287

 
782,732

 
$
6,770,655

 
$
5,450,058



In all periods presented, we capitalized all Homebuilding interest costs into inventory because the level of our active inventory exceeded our debt levels. Activity related to interest capitalized into inventory is as follows ($000’s omitted):
 
Years Ended December 31,
 
2016
 
2015
 
2014
Interest in inventory, beginning of period
$
149,498

 
$
167,638

 
$
230,922

Interest capitalized
160,506

 
120,001

 
131,444

Interest expensed
(123,907
)
 
(138,141
)
 
(194,728
)
Interest in inventory, end of period
$
186,097

 
$
149,498

 
$
167,638



Land-related charges

We recorded the following land-related charges ($000's omitted):
 
2016
 
2015
 
2014
Land impairments
$
1,074

 
$
7,347

 
$
3,911

Net realizable value adjustments ("NRV") - land held for sale
1,105

 
(901
)
 
1,158

Write-offs of deposits and pre-acquisition costs
17,157

 
5,021

 
6,099

Total land-related charges
$
19,336

 
$
11,467

 
$
11,168



Land held for sale

Land held for sale at December 31, 2016 and 2015 was as follows ($000’s omitted):
 
 
2016
 
2015
Land held for sale, gross
$
38,157

 
$
86,913

Net realizable value reserves
(6,429
)
 
(5,421
)
Land held for sale, net
$
31,728

 
$
81,492