Inventory And Land Held For Sale (Tables)

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Components of Inventory

Major components of inventory at December 31, 2024 and 2023 were ($000’s omitted):

	2024		2023
Homes under construction	$	5,770,355	$	5,262,850
Land under development	6,243,745		5,805,993
Raw land	548,848		606,005
Consolidated inventory not owned (a)	102,865		120,522
	$	12,665,813	$	11,795,370

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

Capitalized Interest Rollforward

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

	Years Ended December 31,
	2024		2023		2022
Interest in inventory, beginning of period	$	139,078	$	137,262	$	160,756
Interest capitalized	112,416		126,040		130,051
Interest expensed	(111,534)		(124,224)		(153,545)
Interest in inventory, end of period	$	139,960	$	139,078	$	137,262

Land-related Charges

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

	Statement of Operations Classification	2024		2023		2022
Net realizable value adjustments ("NRV") - land held for sale	Land sale and other cost of revenues	$	4,318	$	—	$	107
Land impairments	Home sale cost of revenues	11,988		19,603		2,990
Write-offs of deposits and pre-acquisition costs	Other income (expense), net	18,266		23,512		63,559
Total land-related charges		$	34,572	$	43,115	$	66,656