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ORGANIZATION AND BASIS OF PRESENTATION (Tables)
6 Months Ended
Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Lease, Cost
The table below outlines our ROU assets and lease liabilities (in thousands):
As of
June 30, 2020December 31, 2019
ROU assets$23,936  $26,332  
Lease liabilities31,182  34,231  
Schedule of Surety Bond and Letter of Credit Obligations
The table below outlines our surety bond and letter of credit obligations (in thousands):
As of
 June 30, 2020December 31, 2019
 OutstandingEstimated work
remaining to
complete
OutstandingEstimated work
remaining to
complete
Sureties:
Sureties related to owned projects and lots under contract$437,963  $176,195  $405,017  $186,986  
Total Sureties$437,963  $176,195  $405,017  $186,986  
Letters of Credit (“LOCs”):
LOCs for land development66,715  N/A57,192  N/A
LOCs for general corporate operations3,750  N/A3,750  N/A
Total LOCs$70,465  N/A$60,942  N/A
Schedule of Accrued Liabilities Accrued liabilities at June 30, 2020 and December 31, 2019 consisted of the following (in thousands):
As of
 June 30, 2020December 31, 2019
Accruals related to real estate development and construction activities$78,210  $74,448  
Payroll and other benefits50,874  67,734  
Accrued interest8,610  8,758  
Accrued taxes38,766  8,459  
Warranty reserves21,578  22,015  
Lease liabilities31,182  34,231  
Other accruals19,988  10,363  
Total$249,208  $226,008  
Summary of Changes in Warranty Reserves
A summary of changes in our warranty reserves follows (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
 2020201920202019
Balance, beginning of period$22,090  $23,213  $22,015  $24,552  
Additions to reserve from new home deliveries4,218  3,888  8,028  7,275  
Warranty claims(4,730) (6,174) (8,465) (10,900) 
Adjustments to pre-existing reserves—  —  —  —  
Balance, end of period$21,578  $20,927  $21,578  $20,927