Post-effective amendment to a registration statement that is not immediately effective upon filing

Accrued Expenses and Other Liabilities

v3.20.4
Accrued Expenses and Other Liabilities
 12 Months Ended
Dec. 31, 2020
Landsea Homes [Member]  
Entity Listings [Line Items]  
Accrued Expenses and Other Liabilities

 

8. Accrued Expenses and Other Liabilities

 

Accrued expenses and other liabilities consist of the following:

 

               
    December 31,
    2020   2019
    (dollars in thousands)
Land development and home construction accrual   $ 25,910     $ 15,353  
Warranty accrual     11,730       8,693  
Accrued compensation and benefits     10,966       9,198  
Lease liabilities     6,396       6,711  
Sales tax payable     1,867       201  
Income tax payable     1,355       5,741  
Interest payable     1,134       425  
Other deposits and liabilities     3,511       1,724  
Total accrued expenses and other liabilities   $ 62,869     $ 48,046  

 

Changes in the Company’s warranty accrual are detailed in the table below:

 

               
    December 31,
    2020   2019
    (dollars in thousands)
Beginning warranty accrual   $ 8,693     $ 3,616  
Warranty provision     3,843       5,381  
Warranty payments     (806 )     (304 )
Ending warranty accrual   $ 11,730     $ 8,693