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

12 Months Ended

Sep. 30, 2025

The following table provides a summary of our interests in lot option agreements as of September 30, 2025 and 2024:


	As of September 30, 2025		As of September 30, 2024
in thousands
Deposits and non-refundable pre-acquisition costs incurred(a)	$	333,435	$	227,770
Remaining purchase price if lot option agreements are exercised	$	1,610,171	$	1,458,679

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

Depreciation is generally 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, 2025 and 2024:


in thousands	September 30, 2025		September 30, 2024
Model furnishings and sales office improvements	$	32,727	$	32,179
Information systems	39,483		30,140
Furniture, fixtures and office equipment	17,274		15,447
Leasehold improvements	4,192		3,226
Buildings and improvements	1,382		1,382
Property and equipment, gross	95,058		82,374
Less: Accumulated depreciation	(47,113)		(43,746)
Property and equipment, net	$	47,945	$	38,628

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.