Capitalized Interest and Real Estate Taxes (Tables)

9 Months Ended

Sep. 30, 2016

Summary of Interest Incurred and Capitalized and Interest Expensed for Units Settled

The following table is a summary of interest and real estate taxes incurred and capitalized and interest and real estate taxes expensed for units settled:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
Total interest incurred and capitalized	$	811	$	887	$	2,404	$	2,514
Total real estate taxes incurred and capitalized		53		125		170		314

Total interest and real estate taxes incurred and capitalized	$	864	$	1,012	$	2,574	$	2,828

Interest expensed as a component of cost of sales	$	579	$	471	$	1,285	$	1,227
Real estate taxes expensed as a component of cost of sales		64		64		165		156

Interest and real estate taxes expensed as a component of cost of sales	$	643	$	535	$	1,450	$	1,383

Summary of Interest and Real Estate Taxes Expensed in Consolidated Statements of Operations

The following is a breakdown of the interest and real estate taxes expensed in the consolidated statements of operations for the periods presented:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
Interest incurred and expensed from entity level borrowings	$	133	$	97	$	645	$	414
Interest incurred and expensed for inactive projects		—		—		5		4
Real estate taxes incurred and expensed for inactive projects		—		3		5		8

	$	133	$	100	$	655	$	426