Quarterly report pursuant to Section 13 or 15(d)

Capitalized Interest

v3.21.2
Capitalized Interest
 9 Months Ended
Sep. 30, 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 September 30, Nine Months Ended September 30,
2021 2020 2021 2020
(dollars in thousands) (dollars in thousands)
Related party interest incurred or pushed down $ 183  $ 2,407  $ 183  $ 7,300 
Other interest incurred 6,597  5,440  18,701  15,972 
Total interest incurred 6,780  7,847  18,884  23,272 
 
Related party interest capitalized 183  2,407  183  7,300
Other interest capitalized 6,597  5,440  18,701  15,972 
Total interest capitalized 6,780  7,847  18,884  23,272 
 
Previously capitalized related party interest included in cost of sales $ 2,571  $ 4,113  $ 9,813  $ 8,653 
Previously capitalized other interest included in cost of sales 4,711  6,765  15,835  14,925 
Related party interest relieved to equity in earnings (loss) from unconsolidated joint ventures 278  278  1,042  903 
Other interest relieved to equity in earnings (loss) from unconsolidated joint ventures 3  3  14  12 
Other interest expensed 11  —  32  11 
Total interest expense included in pretax income (loss) $ 7,574  $ 11,159  $ 26,736  $ 24,504