Warranty Accrual (Tables)

3 Months Ended

Mar. 31, 2023

Product Warranties Disclosures [Abstract]

The table set forth below summarizes accrual, adjustment and payment activity related to our warranty accrual for the three months ended March 31, 2023 and 2022. The warranty accrual during the three months ended March 31, 2023 decreased compared to an increase during the three months ended March 31, 2022 due to the increase in cash payments and a decrease in the number of home closings. Further, there was a $2.4 million adjustment to increase our warranty accrual during the three months ended March 31, 2022. This adjustment was due to higher general warranty related expenditures.


	Three Months Ended March 31,
	2023		2022

	(Dollars in thousands)
Balance at beginning of period	$	46,857	$	37,491
Expense provisions	5,635		5,832
Cash payments	(5,826)		(4,817)
Adjustments	—		2,440

Balance at end of period	$	46,666	$	40,946