Inventories

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventories

Inventories

The table below sets forth, by reportable segment, information relating to our homebuilding inventories.

	December 31, 2023		December 31, 2022
	(Dollars in thousands)
Housing Completed or Under Construction:
West	$	1,163,495	$	1,026,880
Mountain	448,735		511,092
East	269,038		184,089
Subtotal	1,881,268		1,722,061
Land and Land Under Development:
West	874,605		1,145,119
Mountain	382,897		433,893
East	162,276		214,706
Subtotal	1,419,778		1,793,718
Total Inventories	$	3,301,046	$	3,515,779

Inventory impairments recognized by segment for the years ended December 31, 2023, 2022 and 2021 are shown in the table below.

	Year Ended December 31,
	2023		2022		2021
	(Dollars in thousands)
Housing Completed or Under Construction:
West	$	3,673	$	8,017	$	1,600
Mountain	1,533		1,812		—
East	—		—		—
Subtotal	5,206		9,829		1,600
Land and Land Under Development:
West	15,677		88,843		—
Mountain	8,817		20,688		—
East	—		2,515		—
Subtotal	24,494		112,046		—
Total Inventory Impairments	$	29,700	$	121,875	$	1,600

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)
December 31, 2023	3	$	2,200	$	13,273	12	%	—	15%
September 30, 2023	2	6,200		17,116		15	%	—	18%
June 30, 2023	1	13,500		17,886				18%
March 31, 2023	1	7,800		13,016				18%
Total		$	29,700
December 31, 2022	16	$	92,800	$	96,496	15	%	—	20%
September 30, 2022	9	28,415		44,615		15	%	—	18%
March 31, 2022	1	660		1,728				N/A
Total		$	121,875
December 31, 2021	1	$	1,600	$	6,903			N/A
Total		$	1,600