Inventory (Tables)

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

Components of Inventory

Major components of inventory were as follows ($000’s omitted): 

	September 30, 2023		December 31, 2022
Homes under construction	$	5,355,403	$	5,440,186
Land under development	5,519,982		5,134,432
Raw land	573,726		679,341
Consolidated inventory not owned (a)	136,336		72,058
	$	11,585,447	$	11,326,017

(a)    Consolidated inventory not owned includes land sold to third parties for which the Company retains a repurchase option.

Capitalized Interest Rollforward

Information related to interest capitalized into inventory is as follows ($000’s omitted):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Interest in inventory, beginning of period	$	141,994	$	151,554	$	137,262	$	160,756
Interest capitalized	31,659		33,235		95,388		96,156
Interest expensed	(33,643)		(41,120)		(92,640)		(113,243)
Interest in inventory, end of period	$	140,010	$	143,669	$	140,010	$	143,669

Schedule Of Company Interests In Land Option Agreements

The following provides a summary of our interests in land option agreements as of September 30, 2023 and December 31, 2022 ($000’s omitted): 

	September 30, 2023				December 31, 2022
	Deposits and Pre-acquisition Costs		Remaining Purchase Price		Deposits and Pre-acquisition Costs		Remaining Purchase Price
Land options with VIEs	$	244,897	$	2,169,510	$	213,895	$	2,130,398
Other land options	366,561		4,088,141		264,860		3,269,843
	$	611,458	$	6,257,651	$	478,755	$	5,400,241