Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses and Other Liabilities (Tables)

v3.21.2
Accrued Expenses and Other Liabilities (Tables)
 9 Months Ended
Sep. 30, 2021
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consist of the following:
September 30, 2021 December 31, 2020
(dollars in thousands)
Land development and home construction accrual $ 12,485  $ 25,910 
Warranty accrual 14,266  11,730 
Accrued compensation and benefits 6,935  10,966 
Lease liabilities 6,605  6,396 
Interest payable 2,438  1,134 
Income tax payable 4,662  1,355 
Deferred revenue 575  — 
Sales tax payable 848  1,867 
Other deposits and liabilities 10,789  3,511 
Total accrued expenses and other liabilities $ 59,603  $ 62,869 
Schedule of Product Warranty Liability Changes in the Company’s warranty accrual are detailed in the table below:
Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
(dollars in thousands)
Beginning warranty accrual $ 13,595  $ 9,885  $ 11,730  $ 8,693 
Warranty provision 1,107  1,327  3,972  2,720 
Warranty payments (436) (183) (1,436) (384)
Ending warranty accrual $ 14,266  $ 11,029  $ 14,266  $ 11,029