Quarterly report pursuant to Section 13 or 15(d)

Commitment and Contingencies (Tables)

v3.23.1
Commitment and Contingencies (Tables)
3 Months Ended
Mar. 31, 2023
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 March 31,
2023 2022
(dollars in thousands)
Beginning warranty accrual $ 46,657  $ 15,692 
Warranty provision 911  1,601 
Warranty payments (1,338) (536)
Ending warranty accrual $ 46,230  $ 16,757 
Schedule of Operating Lease Maturity
Future minimum payments under the noncancelable operating leases in effect at March 31, 2023 were as follows (dollars in thousands):
2023 $ 3,017 
2024 3,357 
2025 2,418 
2026 2,140 
2027 1,915 
Thereafter 4,183 
Total lease payments 17,030 
Less: Discount (2,376)
Present value of lease liabilities $ 14,654