Quarterly report pursuant to Section 13 or 15(d)

Commitment and Contingencies (Tables)

v3.22.2
Commitment and Contingencies (Tables)
6 Months Ended
Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Product Warranty Liability Estimated future direct warranty costs are accrued and charged to cost of sales in the period when the related homebuilding revenues are recognized. Changes in the Company’s warranty accrual are detailed in the table below:
Three Months Ended June 30, Six Months Ended June 30,
2022 2021 2022 2021
(dollars in thousands)
Beginning warranty accrual $ 16,757  $ 12,020  $ 15,692  $ 11,730 
Warranty provision 1,642  1,948  3,243  2,865 
Warranty payments (389) (373) (925) (1,000)
Ending warranty accrual $ 18,010  $ 13,595  $ 18,010  $ 13,595 
Operating Lease Maturity Schedule
Future minimum payments under the noncancelable operating leases in effect at June 30, 2022 were as follows (dollars in thousands):
2022 $ 2,098 
2023 4,106 
2024 2,988 
2025 2,043 
2026 1,765 
Thereafter 2,808 
Total lease payments 15,808 
Less: Discount (1,407)
Present value of lease liabilities $ 14,401