Inventory And Land Held For Sale (Tables)

12 Months Ended

Dec. 31, 2023

Major components of inventory at December 31, 2023 and 2022 were ($000’s omitted):


	2023		2022
Homes under construction	$	5,262,850	$	5,440,186
Land under development	5,805,993		5,134,432
Raw land	606,005		679,341
Consolidated inventory not owned (a)	120,522		72,058
	$	11,795,370	$	11,326,017

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

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


	Years Ended December 31,
	2023		2022		2021
Interest in inventory, beginning of period	$	137,262	$	160,756	$	193,409
Interest capitalized	126,040		130,051		129,380
Interest expensed	(124,224)		(153,545)		(162,033)
Interest in inventory, end of period	$	139,078	$	137,262	$	160,756

We recorded the following land-related charges ($000's omitted):


	Statement of Operations Classification	2023		2022		2021
Net realizable value adjustments ("NRV") - land held for sale	Land sale and other cost of revenues	$	—	$	107	$	19
Land impairments	Home sale cost of revenues	19,603		2,990		—

Write-offs of deposits and pre-acquisition costs	Other income (expense), net	23,512		63,559		12,283
Total land-related charges		$	43,115	$	66,656	$	12,302