Quarterly report pursuant to Section 13 or 15(d)

Capitalized Interest

v3.21.1
Capitalized Interest
 3 Months Ended
Mar. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Capitalized Interest Capitalized InterestInterest 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,
2021 2020
(dollars in thousands)
Related party interest pushed down $ —  $ 2,629 
Other interest incurred 5,106  4,302 
Total interest incurred 5,106  6,931 
 
Related party interest capitalized —  2,629
Other interest capitalized 5,106  4,302 
Total interest capitalized 5,106  6,931 
 
Previously capitalized related party interest included in cost of sales $ 2,902  $ 2,846 
Previously capitalized other interest included in cost of sales 4,165  4,465 
Related party interest relieved to equity in earnings (loss) from unconsolidated joint ventures 348  278 
Other interest relieved to equity in earnings (loss) from unconsolidated joint ventures 5  4 
Other interest expensed 11  11 
Total interest expense included in pretax income (loss) $ 7,431  $ 7,604