Inventories (Tables)

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Schedule of Inventory

The following table sets forth, by reportable segment, information relating to our homebuilding inventories:

	September 30, 2022		December 31, 2021
	(Dollars in thousands)
Housing completed or under construction:
West	$	1,284,960	$	1,077,256
Mountain	675,660		596,164
East	273,288		244,196
Subtotal	2,233,908		1,917,616
Land and land under development:
West	1,177,322		1,235,363
Mountain	444,017		435,958
East	187,187		171,914
Subtotal	1,808,526		1,843,235
Total inventories	$	4,042,434	$	3,760,851

Schedule of Inventory Impairments

Inventory impairments recognized by segment for the three and nine months ended September 30, 2022 and 2021 are shown in the table below.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(Dollars in thousands)				(Dollars in thousands)
West	$	25,900	$	—	$	26,560	$	—
Mountain	—		—		—		—
East	2,515		—		2,515		—
Total Inventory Impairments	$	28,415	$	—	$	29,075	$	—

Quantitative Data for Fair Value of the Impaired Inventory

The table below provides quantitative data, for the periods presented, where applicable, used in determining the fair value of the impaired inventory.

	Impairment Data					Quantitative Data
Three Months Ended	Number of Subdivisions Impaired	Inventory Impairments		Fair Value of Inventory After Impairments		Discount Rate
	(Dollars in thousands)
March 31, 2022	1	$	660	$	1,728			N/A
September 30, 2022	9	$	28,415	$	44,615	15	%	—	18%
Total		$	29,075