Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses and Other Liabilities (Tables)

v3.21.1
Accrued Expenses and Other Liabilities (Tables)
 3 Months Ended
Mar. 31, 2021
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consist of the following:
March 31, 2021 December 31, 2020
(dollars in thousands)
Land development and home construction accrual $ 24,499  $ 25,910 
Warranty accrual 12,020  11,730 
Accrued compensation and benefits 3,630  10,966 
Lease liabilities 6,089  6,396 
Interest payable 1,612  1,134 
Income tax payable —  1,355 
Sales tax payable 735  1,867 
Other deposits and liabilities 3,409  3,511 
Total accrued expenses and other liabilities $ 51,994  $ 62,869 
Schedule of Product Warranty Liability
Changes in the Company’s warranty accrual are detailed in the table below:
March 31, 2021 December 31, 2020
(dollars in thousands)
Beginning warranty accrual $ 11,730  $ 8,693 
Warranty provision 917  3,843 
Warranty payments (627) (806)
Ending warranty accrual $ 12,020  $ 11,730