Quarterly report pursuant to Section 13 or 15(d)

Capitalized Interest

v3.22.1
Capitalized Interest
 3 Months Ended
Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Capitalized Interest Capitalized Interest
Interest is capitalized to real estate inventories and investment in unconsolidated joint ventures during development and other qualifying activities. Interest capitalized as a cost of real estate inventories is included in cost of sales as related inventories are delivered. Interest capitalized to investments in unconsolidated joint ventures is relieved to equity in net (loss) income of unconsolidated joint ventures as related joint venture homes close.
For the periods reported, interest incurred, capitalized, and expensed was as follows:
Three Months Ended March 31,
2022 2021
(dollars in thousands)
Related party interest incurred $ 116  $ — 
Other interest incurred 7,135  5,106 
Total interest incurred 7,251  5,106 
 
Related party interest capitalized 116  —
Other interest capitalized 7,135  5,106 
Total interest capitalized 7,251  5,106 
 
Previously capitalized related party interest included in cost of sales $ 1,517  $ 2,902 
Previously capitalized other interest included in cost of sales 4,872  4,165 
Related party interest relieved to equity in loss from unconsolidated joint ventures 35  348 
Other interest relieved to equity in loss from unconsolidated joint ventures —  5 
Other interest expensed —  11 
Total interest expense included in pretax income (loss) $ 6,424  $ 7,431