Inventory (Tables)

3 Months Ended

Dec. 31, 2016

The components of our owned inventory are as follows as of December 31, 2016 and September 30, 2016:



(In thousands)	December 31, 2016		September 30, 2016
Homes under construction	$	422,493	$	377,191
Development projects in progress	778,078		742,417
Land held for future development	172,824		213,006
Land held for sale	28,021		29,696
Capitalized interest	144,299		138,108
Model homes	72,829		68,861
Total owned inventory	$	1,618,544	$	1,569,279

Schedule of Total Owned Inventory, by Segment

Total owned inventory, by reportable segment, is presented by category in the table below as of December 31, 2016 and September 30, 2016:



(In thousands)	Projects in Progress ^(a)		Land Held for Future Development		Land Held for Sale		Total Owned Inventory
December 31, 2016
West Segment	$	619,044	$	147,861	$	7,699	$	774,604
East Segment	305,593		14,004		18,010		337,607
Southeast Segment	297,336		10,959		1,212		309,507
Corporate and unallocated ^(b)	195,726		—		1,100		196,826
Total	$	1,417,699	$	172,824	$	28,021	$	1,618,544
September 30, 2016
West Segment	$	586,420	$	172,015	$	6,577	$	765,012
East Segment	276,785		30,036		20,930		327,751
Southeast Segment	276,385		10,955		1,090		288,430
Corporate and unallocated ^(b)	186,987		—		1,099		188,086
Total	$	1,326,577	$	213,006	$	29,696	$	1,569,279

^(a)Projects in progress include homes under construction, development projects in progress, capitalized interest and model home categories from the preceding table.

^(b)Projects in progress amount includes capitalized interest and indirect costs that are maintained within Corporate and unallocated.

Land held for sale amount includes parcels held by our discontinued operations.

Schedule of Inventory Impairments and Lot Option Abandonment Charges, by Reportable Homebuilding Segment

The following table presents, by reportable segment, our total impairment and abandonment charges for the three months ended December 31, 2015:



	Three Months Ended December 31,
(In thousands)	2015
Land Held for Sale:
East	$	197
Southeast	371
Total impairment charges on land held for sale	$	568
Abandonments:
Southeast	$	788
Total abandonments charges	$	788
Total impairment and abandonment charges	$	1,356

Summary of Interests in Lot Option Agreements

The following table provides a summary of our interests in lot option agreements as of December 31, 2016 and September 30, 2016:



(In thousands)	Deposits & Non-refundable Pre-acquisition Costs Incurred		Remaining Obligation
As of December 31, 2016
Unconsolidated lot option agreements	$	78,001	$	412,881
As of September 30, 2016
Unconsolidated lot option agreements	$	80,433	$	446,414