Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2024

The following table provides a summary of our interests in lot option agreements as of September 30, 2024 and 2023:


	September 30, 2024		September 30, 2023
in thousands
Deposits and non-refundable pre-acquisition costs incurred(a)	$	227,770	$	165,371
Remaining purchase price if lot option agreements are exercised	$	1,458,679	$	949,447

(a) Amount is included as a component of land under development within our owned inventory in the consolidated balance sheets.

Depreciation is computed on a straight-line basis based on estimated useful lives as follows:


Asset Class						Useful Lives
Buildings and improvements						25 - 30 years

Information systems						Lesser of estimated useful life of the asset or 5 years
Furniture, fixtures and computer and office equipment						3 - 7 years
Model and sales office improvements						Lesser of estimated useful life of the asset or estimated life of the community
Leasehold improvements						Lesser of the lease term or the estimated useful life of the asset

The following table presents our property and equipment as of September 30, 2024 and 2023:


in thousands	September 30, 2024		September 30, 2023
Model furnishings and sales office improvements	$	32,179	$	24,736
Information systems	30,140		25,745
Furniture, fixtures and office equipment	15,447		12,692
Leasehold improvements	3,226		3,026
Buildings and improvements	1,382		1,382
Property and equipment, gross	82,374		67,581
Less: Accumulated depreciation	(43,746)		(36,437)
Property and equipment, net	$	38,628	$	31,144

The following table presents our total revenue disaggregated by revenue stream for the periods presented:

(a) Please see Note 17 for total revenue disaggregated by reportable segment.