Quarterly report pursuant to Section 13 or 15(d)

Commitment and Contingencies (Tables)

v3.23.2
Commitment and Contingencies (Tables)
6 Months Ended
Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Product Warranty Liability Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related homebuilding revenues are recognized. Changes in the Company’s warranty accrual are detailed in the table below:
Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
(dollars in thousands)
Beginning warranty accrual $ 46,230  $ 16,757  $ 46,657  $ 15,692 
Warranty provision 1,263  1,642  2,174  3,243 
Warranty payments (1,266) (389) (2,604) (925)
Ending warranty accrual $ 46,227  $ 18,010  $ 46,227  $ 18,010 
Schedule of Operating Lease Maturity
Future minimum payments under the noncancelable operating leases in effect at June 30, 2023 were as follows (dollars in thousands):
2023 $ 1,968 
2024 3,481 
2025 2,582 
2026 2,332 
2027 2,101 
Thereafter 4,738 
Total lease payments 17,202 
Less: Discount (2,390)
Present value of lease liabilities $ 14,812