Quarterly report pursuant to Section 13 or 15(d)

Commitment and Contingencies (Tables)

v3.23.3
Commitment and Contingencies (Tables)
9 Months Ended
Sep. 30, 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 September 30, Nine Months Ended September 30,
2023 2022 2023 2022
(dollars in thousands)
Beginning warranty accrual $ 46,227  $ 18,010  $ 46,657  $ 15,692 
Warranty provision 2,988  1,359  5,162  4,602 
Warranty payments (3,547) (1,118) (6,151) (2,043)
Ending warranty accrual $ 45,668  $ 18,251  $ 45,668  $ 18,251 
Schedule of Operating Lease Maturity
Future minimum payments under the noncancelable operating leases in effect at September 30, 2023 were as follows (dollars in thousands):
2023 $ 1,042 
2024 3,481 
2025 2,582 
2026 2,332 
2027 2,101 
Thereafter 4,737 
Total lease payments 16,275 
Less: Discount (2,217)
Present value of lease liabilities $ 14,058