Quarterly report pursuant to Section 13 or 15(d)

Capitalized Interest

v3.24.3
Capitalized Interest
 9 Months Ended
Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Capitalized Interest Capitalized Interest
Interest is capitalized to real estate inventories during development and as a result of other qualifying activities. Interest capitalized as a cost of real estate inventories is included in cost of sales as related inventories are delivered.
For the three and nine months ended September 30, 2024, the Company incurred and capitalized interest of $20.6 million and $57.5 million, respectively. For the three and nine months ended September 30, 2023, the Company incurred and capitalized interest of $14.4 million and $37.6 million, respectively. Previously capitalized interest included in cost of sales during the three and nine months ended September 30, 2024 was $13.6 million and $42.2 million, respectively. Previously capitalized interest included in cost of sales during the three and nine months ended September 30, 2023 was $10.0 million and $21.9 million, respectively. These amounts included interest from certain related party transactions, refer to Note 9 – Related Party Transactions for additional information.