Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2019 |
Accounting Policies [Abstract] |
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Disaggregation of Revenue [Table Text Block] |
The following table presents our revenues disaggregated by revenue source: | | | | | | | | | | | | | | Year Ended December 31, | (Dollars in thousands) | 2019 | | 2018 | | 2017 (a) | Housing | $ | 2,420,348 |
| | $ | 2,217,197 |
| | $ | 1,878,572 |
| Land sales | 24,619 |
| | 16,889 |
| | 33,706 |
| Financial services (b) | 55,323 |
| | 52,196 |
| | 49,693 |
| Total revenue | $ | 2,500,290 |
| | $ | 2,286,282 |
| | $ | 1,961,971 |
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| | (a) | Prior period amounts have not been adjusted under the cumulative catch-up transition method as a result of the adoption of ASU 2014-09, Revenue from Contracts with Customers, on January 1, 2018. |
(b) Revenues include hedging losses of $12.1 million and hedging gains of $3.6 million and $0.7 million for the years ended December 31, 2019, 2018 and 2017, respectively. Hedging gains (losses) do not represent revenues recognized from contracts with customers.
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Property, Plant and Equipment [Table Text Block] |
Following are the major classes of depreciable assets and their estimated useful lives: | | | | | | | | | | | Year Ended December 31, | | (In thousands) | 2019 | | 2018 | | Land, building and improvements | $ | — |
| | $ | 11,824 |
| (a) | Office furnishings, leasehold improvements, computer equipment and computer software | 28,207 |
| | 29,920 |
| | Transportation and construction equipment | 10,061 |
| | 10,064 |
| | Property and equipment | 38,268 |
| | 51,808 |
| | Accumulated depreciation | (16,150 | ) | | (22,413 | ) | | Property and equipment, net | $ | 22,118 |
| | $ | 29,395 |
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| | (a) | Includes the Company’s home office building in Columbus, Ohio that met the sale classification criteria for the period ended September 30, 2018 as it was being actively marketed. The carrying value of the building as of December 31, 2018 was $5.6 million. The Company measures assets held for sale at fair value on a nonrecurring basis and records impairment charges when the assets are deemed to be impaired. Assets held for sale are reported at the lower of cost or fair value. Costs to sell are accrued separately. The Company estimated the fair value of the building using the market values for similar properties, and the building was considered a Level 2 asset as defined in ASC 820, “Fair Value Measurements.” During the twelve months ended December 31, 2019, the Company did not record any impairment charges on its asset held for sale. The Company sold the building on December 31, 2019. |
| | | | Estimated Useful Lives | Building and improvements | 35 years | Office furnishings, leasehold improvements, computer equipment and computer software | 3-7 years | Transportation and construction equipment | 5-25 years |
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Schedule of Other Assets [Table Text Block] |
Other assets at December 31, 2019 and 2018 consisted of the following:. | | | | | | | | | | Year Ended December 31, | (In thousands) | 2019 | | 2018 | Development reimbursement receivable from local municipalities | $ | 16,083 |
| | $ | 13,632 |
| Mortgage servicing rights | 9,614 |
| | 6,477 |
| Prepaid expenses | 13,841 |
| | 8,605 |
| Prepaid acquisition costs | 5,688 |
| | 7,873 |
| Other | 25,085 |
| | 24,207 |
| Total other assets | $ | 70,311 |
| | $ | 60,794 |
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Other Liabilities [Table Text Block] |
Other liabilities at December 31, 2019 and 2018 consisted of the following: | | | | | | | | | | Year Ended December 31, | (In thousands) | 2019 | | 2018 | Accruals related to land development | $ | 48,694 |
| | $ | 46,073 |
| Warranty | 26,420 |
| | 26,459 |
| Payroll and other benefits | 35,125 |
| | 31,428 |
| Other | 37,698 |
| | 46,091 |
| Total other liabilities | $ | 147,937 |
| | $ | 150,051 |
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